Ahmed El Sakka’s First NFT Collection Is Finally Here!

Check Out the Latest UPYO News

Explore all the latest news, articles and blogs on NFTs, web 3.0 and metaverse by top analysts and writers at UPYO.

Explore UPYO Blog

UPYO Blog is your source for emerging technology updates.

dApps

DeFi

Ethereum

Metamask

Polygon

Solana


<p>Are you thinking to invest in sports NFT? Or make money with sports NFT? Sports NFTs are one of the most popular non-fungible token categories that are a rage today. Thousands of sports enthusiasts and hundreds of sportspersons are involved in this and making it a success. If you are wondering how to benefit from NFT sports, this article will help you. We will discuss different types of sports NFTs and how to gain profit from them.</p>



<h2>Different Types of NFT Sports</h2>



<p>From the <a href="https://upyo.com/en/post/sports-nft">understanding of sports NFT</a> you will find that there are various types of sports NFTeach of them has different aspects and works differently; here are some of the popular types:</p>



<h3><strong>Sports tickets and virtual passes</strong></h3>



<p>Non-fungible tokens can be employed in ticketing and virtual passes (of sports events) as NFTs cannot be duplicated easily. Usually, NFT tickets and passes are given by event organizers, and they cannot be falsified. Once the user gets the virtual ticket, it will be scanned at the event location, and they will be allowed to watch the event.</p>



<h3><strong>Sport NFT trading cards</strong></h3>



<p>For ages, trading cards have been an integral part of the sports world. But now, with the revolutionary emergence of non-fungible tokens (NFTs), these traditional trading cards have undergone a remarkable transformation. Transcending physical form, NFT trading cards proudly showcase beloved sports figures while securely residing on the blockchain. Since it is completely virtual and is stored in a decentralized manner, all transactions related to it happen in seconds.</p>



<p>Various sports have generated NFT trading cards, including football, car race, basketball, baseball, tennis, wrestling, and so on. The value of these cards usually depends on the number of fans, rarity, skill, and so on.</p>



<h3><strong>Sport NFT metaverse games</strong></h3>



<p>This is a unique offering from the NFT space, where one can participate in fantasy sports. By leveraging blockchain technology and non-fungible tokens, the players will be offered a unique and fantastic gameplay experience that users wouldn&#8217;t have experienced before.</p>



<p>For instance, the <a href="https://upyo.com/en/post/metaverse-games">NFT metaverse racing games</a>, such as The Formula 1 racing game or F1 Delta Time, let players race against each other on F1 race tracks worldwide. Each of the accessories or components of the game, such as cars, tires, drivers, and so on, must be bought as a non-fungible token.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/Formula-1-racing-game-1024x576.jpg" alt="invest in sports NFT" class="wp-image-6403" srcset="https://3.111.63.208/wp-content/uploads/2023/05/Formula-1-racing-game-1024x576.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/Formula-1-racing-game-300x169.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/Formula-1-racing-game-768x432.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/Formula-1-racing-game.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>Sport video clips</strong></h3>



<p>Video clips showing iconic sports moments/highlights have become highly popular in sports NFTs category. For instance NBA Top Shot, one of the marketplace is famous for its collection of player highlight reels. These captivating clips capture unforgettable plays that have etched themselves into sports history.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2022/08/210401-nba-sports-cards-jm-0942-90fb1b-1024x576.jpg" alt="NBA Top Shots" class="wp-image-858" srcset="https://3.111.63.208/wp-content/uploads/2022/08/210401-nba-sports-cards-jm-0942-90fb1b-1024x576.jpg 1024w, https://3.111.63.208/wp-content/uploads/2022/08/210401-nba-sports-cards-jm-0942-90fb1b-300x169.jpg 300w, https://3.111.63.208/wp-content/uploads/2022/08/210401-nba-sports-cards-jm-0942-90fb1b-768x432.jpg 768w, https://3.111.63.208/wp-content/uploads/2022/08/210401-nba-sports-cards-jm-0942-90fb1b-1536x864.jpg 1536w, https://3.111.63.208/wp-content/uploads/2022/08/210401-nba-sports-cards-jm-0942-90fb1b.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>Sports Collectibles</strong></h3>



<p>These are the common non-fungible tokens related to the sports domain. It usually represents sports teams, players, and the iconic moments of a game that fans want to possess. For example, The Tom Brady Ruby by Tom Brady and slam dunk by LeBron are two popular sports NFT collectibles.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/slam-dunk-by-LeBron-1024x576.jpg" alt="make money with sports nft" class="wp-image-6404" srcset="https://3.111.63.208/wp-content/uploads/2023/05/slam-dunk-by-LeBron-1024x576.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/slam-dunk-by-LeBron-300x169.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/slam-dunk-by-LeBron-768x432.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/slam-dunk-by-LeBron.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>Fan tokens</strong></h3>



<p>These are not non-fungible tokens in the technical sense; however, they are classified under the sports initiatives (NFT) as they act as a bridge of communication. These are the tokens that permit the fans to vote for various internal processes. The more the number of tokens, the more voting rights they possess.</p>



<h2>How to trade NFT sports?</h2>



<p>To trade sports non-fungible tokens, one must first find a good NFT marketplace where you find the required tokens that you can purchase. You can check some <a href="https://upyo.com/en/post/sports-nft-marketplace">popular NFT sports marketplaces</a> and choose the one which matches your requirements perfectly. Once you choose a marketplace, you can follow the below steps:</p>



<p><strong>Set up a wallet:</strong> Create a wallet account and have a wallet where you can store your crypto. One can find software or hardware wallets and pick them up based on their preferences.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2022/11/MetaMask-Wallet-1024x576.png" alt="MetaMask Wallet" class="wp-image-2690" srcset="https://3.111.63.208/wp-content/uploads/2022/11/MetaMask-Wallet-1024x576.png 1024w, https://3.111.63.208/wp-content/uploads/2022/11/MetaMask-Wallet-300x169.png 300w, https://3.111.63.208/wp-content/uploads/2022/11/MetaMask-Wallet-768x432.png 768w, https://3.111.63.208/wp-content/uploads/2022/11/MetaMask-Wallet-1536x864.png 1536w, https://3.111.63.208/wp-content/uploads/2022/11/MetaMask-Wallet.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p><strong>Purchase crypto:</strong> To acquire NFTs, which are predominantly bought using cryptocurrency, it is essential to visit an authorized cryptocurrency exchange. While a few marketplaces accept traditional fiat currency, this is a rarity. As most NFTs are tokenized on the Ethereum blockchain, you will likely need to obtain ETH (Ethereum&#8217;s native cryptocurrency) to acquire your desired sports NFTs.&nbsp;</p>



<p>Exchanges typically require the creation of usernames and passwords, as well as the completion of the know-your-customer (KYC) verification process, which involves submitting government-issued identification and other personal information.</p>



<p><strong>Create</strong><strong> a profile in the </strong><strong>NFT marketplace:</strong> Most markets demand you to create an account and link your digital wallet. You can begin purchasing NFTs on the platform after creating an account.</p>



<p><strong>Browse non-fungible tokens for sale:</strong> One can easily explore the non-fungible token collection after creating an account on the platform. Once you find a token that you want to buy, you will be required to pay certain fees (gas fee, transaction fees, etc.) to list, list, or buy the non-fungible tokens. One must note that the fees vary from platform to platform and NFT to NFT. Additionally, the fees you pay for minting an NFT are different from buying it.</p>



<p>When you purchase an NFT, it is delivered to your marketplace account or digital wallet. If you wish to sell it, go to your assets in your account or wallet and follow the processes on the marketplace.</p>



<p>To sell an NFT, most marketplaces require the following steps:</p>



<ul>
<li>Choose the asset to sell. If the value of one of your NFTs has increased, you may be able to sell it for a profit.</li>



<li>Select a mode of sale. Auctions and fixed-price sales are common in marketplaces. Auctions are frequently timed.</li>
</ul>



<h2>How to make money from NFT sports?</h2>



<p>Here are the 3 popular ways to make money with sports non-fungible tokens; you choose a method that suits your needs:</p>



<h3><strong>Hold and Profit</strong></h3>



<p>Online marketplaces often offer exclusive and limited-edition NFT drops. If you manage to secure these rare drops, purchasing a limited NFT and holding onto it until its value increases could potentially yield a profit. However, this strategy requires active market monitoring and is not guaranteed to result in gains.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="583" src="https://adminblog.upyo.io/wp-content/uploads/2022/09/What-Are-NFT-Drops-And-Everything-About-NFT-Drops-1024x583.jpg" alt="NFT Drops" class="wp-image-1341" srcset="https://3.111.63.208/wp-content/uploads/2022/09/What-Are-NFT-Drops-And-Everything-About-NFT-Drops-1024x583.jpg 1024w, https://3.111.63.208/wp-content/uploads/2022/09/What-Are-NFT-Drops-And-Everything-About-NFT-Drops-300x171.jpg 300w, https://3.111.63.208/wp-content/uploads/2022/09/What-Are-NFT-Drops-And-Everything-About-NFT-Drops-768x437.jpg 768w, https://3.111.63.208/wp-content/uploads/2022/09/What-Are-NFT-Drops-And-Everything-About-NFT-Drops.jpg 1061w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>Buy and Flip</strong></h3>



<p>Another strategy involves taking advantage of the excitement surrounding newly released projects or NFT collections. By swiftly purchasing assets and reselling them when prices are high, you can capitalize on the initial surge in value. This tactic relies on timing and market momentum.</p>



<h3><strong>Create and Sell</strong></h3>



<p>An alternative approach is to create and <a href="https://upyo.com/en/post/how-to-sell-nft">sell your own NFTs</a>, allowing you to earn cryptocurrency and receive royalties. Each time your NFT is resold, you, as the original creator, can earn a percentage of the subsequent sale price, typically ranging from 5% to 10%. However, it&#8217;s worth noting that many successful sports NFTs thrive due to the backing of prominent athletic brands.</p>



<h2>Why invest in NFT sports?</h2>



<p>Sports NFTs are the unique non-fungible tokens that are currently disrupting the sports industry to a great extent. One can say that Sports non-fungible tokens have a significant value attached to them. Despite the popularity of these sports tokens, one may still wonder whether they are worthy of investment. If you are wondering the same, the following pointers will clear your doubts and list out the benefits of Sports NFTs:</p>



<ul>
<li>Exclusive and authentic ownership of non-fungible tokens</li>



<li>Non-forgeable tickets and passes</li>



<li>Royalties on the resale of your NFTs</li>
</ul>



<p>While these are some of the positives of the sports NFTs, one must tread carefully and after due consideration since the crypto and NFT market is volatile and prone to fluctuations. Researching the sports non-fungible token, its demand, the NFT platform, and its credibility is better.</p>



<h2>Conclusion</h2>



<p>The NFT craze offered new opportunities in various industries, with sports being one of the most successful. Today, because of the availability of several platforms, one can invest in various sorts of sports NFTs. Furthermore, because sports non-fungible tokens are in high demand, one can consider producing them and profiting from them.</p>


How To Buy Sports NFT: A Buyer’s Handbook For Newbies


<p>Non-fungible tokens have proven to be resourceful and secure across the art sector. In fact, various domains have embraced this technology and reaped multiple benefits that NFTs have to offer. Sports is an industry that has integrated non-fungible tokens into its fold to explore opportunities and advantages that NFTs can offer sports, athletes, and fans.</p>



<p>As the number of sports and NFT fans is increasing, there are some basic questions that the general public wants to know. The top among those questions is what are sports NFTs exactly? And how do they work?</p>



<p>This article will explore these questions and list the top sports NFT marketplaces where you can find and purchase unique sports NFTs.</p>



<h2><strong>What Are Sports NFTs?</strong></h2>



<p>The <a href="https://upyo.com/en/post/sports-nft">meaning of Sports NFTs</a> is nothing but virtual assets or digital assets that are related to sports and are stored on the blockchain. Usually, sports non-fungible tokens depict sports trading cards, memorabilia, digital collectible, and so on related mainly to sports and sports personalities. </p>



<p>One can also consider sports non-fungible tokens as the virtual version of traditional sports trading cards (basketball, football, etc.). However, it must be noted that it is not just limited to trade cards alone, as mentioned above. Moreover, sports-based non-fungible tokens are one of the prominent categories in the NFT space that is growing fast.&nbsp;</p>



<h2><strong>Benefits of sports NFT</strong></h2>



<p>Non-fungible tokens offer numerous benefits to the sports industry and everyone involved in it. These tokens help every stakeholder involved in this domain and gain multiple benefits. For instance, sports non-fungible tokens can help the sports community involving athletes and their fans develop long-term relationships.&nbsp;</p>



<p>In fact, non-fungible tokens are carving a new way of communication that helps sports organizations relay updates or any information to their followers. Sports fans can also experience good engagement with their sports clubs or favorite personalities and enjoy exclusive benefits. Here are two instances of how sports NFTs can help sportsmen or sports organizations:</p>



<ul>
<li><strong>Branding:</strong> Sportsmen can utilize non-fungible tokens and launch their own collections to increase fan engagement. By doing so, they develop a healthy relationship with their fanbase or followers. Furthermore, the fans can also boast their sports non-fungible tokens on social media and get noted. One may also see that some sports celebrities issue the tokens from their own selves to retain IP rights and <a href="https://upyo.com/en/post/nft-utility">earn NFT royalties</a> from them.</li>
</ul>



<ul>
<li><strong>Revenue generation:</strong> The sports personalities and teams can make extra money by giving away non-fungible tokens. For instance, sports organizations can tokenize the match tickets and stream them live to the ticket holders. Or, they can organize these events in the metaverse for the ticket holders. Usually, sports-based non-fungible tokens can be viewed and purchased on various NFT sports marketplaces.</li>
</ul>



<h2><strong>How Does Sport NFT Work?&nbsp;</strong></h2>



<p>Sports NFTs are nothing but a form of utility NFT that allows collectors to collect cards and memorabilia in a more flexible manner. Non-fungible tokens can often serve as both collectors and fully working games.</p>



<p>Here are some examples that illustrate how NFT sports work:</p>



<ul>
<li><strong>Memorabilia:</strong> These are also called on-chain non-fungible tokens and include awards, prizes (medals, trophies, etc.), and autographs.</li>
</ul>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="578" height="221" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/Memorabilia-NFT.jpg" alt="nft marketplace for sports" class="wp-image-6230" srcset="https://3.111.63.208/wp-content/uploads/2023/05/Memorabilia-NFT.jpg 578w, https://3.111.63.208/wp-content/uploads/2023/05/Memorabilia-NFT-300x115.jpg 300w" sizes="(max-width: 578px) 100vw, 578px" /></figure>



<ul>
<li><strong>Trading cards:</strong> These are very much similar to physical trading cards that are seen in sports like basketball, football, soccer, baseball, and much more. An NFT version of trading cards offers immense value and makes it secure. Moreover, collecting digital collectibles such as these signify your support for the sport or sportsperson.</li>
</ul>



<ul>
<li><strong>Clips:</strong> The clips are nothing but videos of fantastic moments in any sport. For example, it can be the epic slam dunk or &#8220;Panenka&#8221; shots.</li>
</ul>



<ul>
<li><strong>Sports kits:</strong> The kits may include shoes/boots, wristbands, jerseys, and so on that fans usually want to collect. Non-fungible tokens get these things on-chain to secure them and make them available for sports enthusiasts.</li>
</ul>



<h2><strong>How blockchain technology improves the value of the sports industry?</strong></h2>



<p>Non-fungible tokens utilize blockchain technology to add value to the non-fungible tokens, and here&#8217;s how it can help the sports NFTs:</p>



<ul>
<li><strong>Royalties:</strong> Whenever sports NFTs get traded as a secondary scale, a certain amount of royalties goes to the original creator.</li>
</ul>



<ul>
<li><strong>Direct engagement:</strong> The blockchain technology framework eliminates the need for third parties or intermediaries. As a result, sports NFTs are available in a transparent market where fans can directly connect with their favorites and purchase their collections.</li>
</ul>



<ul>
<li><strong>Scarcity:</strong> The tokenization of digital sports collectibles (single units) enhances their value as it is a unique piece.</li>
</ul>



<ul>
<li><strong>Liquidity:</strong> The emerging interest in NFTs among the public has attracted people to <a href="https://upyo.com/en/post/top-nft-websites">NFT marketplaces</a> across the globe. As a result, NFTs are seen as an active entity in the crypto world today, and all the purchasing and selling are improving the liquidity of the market.</li>
</ul>



<h2>The Top 10 Best Sports NFT Marketplace&nbsp;</h2>



<p>If you are wondering where to buy sports NFTs, here are some of the excellent NFT marketplaces for sports that you can consider if you wish to buy or sell your sports non-fungible tokens:&nbsp;</p>



<h3><strong>UPYO</strong></h3>



<p>UPYO is a secure and prominent <a href="https://upyo.com/en/nft/category/sports">sports NFT platform</a> where you can easily buy sports NFTs. The platform boasts of diversified NFT creators who create excellent and top-quality non-fungible tokens. This is one of the sites that is growing fast in the Middle East region that is beginner-friendly.</p>



<p>Furthermore, the site has a friendly interface that makes it easy for users to create, sell, and buy non-fungible tokens without any glitches. One can find a wide variety of tokens and get hold of your favorite sports logos, special moments, and trading cards at a lower cost.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/image1-1024x538.png" alt="best sports nft marketplace" class="wp-image-6222" srcset="https://3.111.63.208/wp-content/uploads/2023/05/image1-1024x538.png 1024w, https://3.111.63.208/wp-content/uploads/2023/05/image1-300x158.png 300w, https://3.111.63.208/wp-content/uploads/2023/05/image1-768x403.png 768w, https://3.111.63.208/wp-content/uploads/2023/05/image1.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>NBA Top Shot</strong></h3>



<p>This platform is an excellent choice if you are a basketball fan who wants to collect sports NFTs (especially basketball). One can find official basketball highlight video clips, digital collectibles, logos, and so on this platform that can be purchased, traded, or sold here.</p>



<p>Users can easily access this site and do not need to pay exorbitant fees to use it. However, at the time of writing this article, the site is operated only across a few selected countries, so please verify if you can access it. Nonetheless, the platform plans to make it operative across the globe soon.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2022/11/NBA-Top-Shot-NFT-App-1024x538.png" alt="NBA Top Shot " class="wp-image-2700" srcset="https://3.111.63.208/wp-content/uploads/2022/11/NBA-Top-Shot-NFT-App-1024x538.png 1024w, https://3.111.63.208/wp-content/uploads/2022/11/NBA-Top-Shot-NFT-App-300x158.png 300w, https://3.111.63.208/wp-content/uploads/2022/11/NBA-Top-Shot-NFT-App-768x403.png 768w, https://3.111.63.208/wp-content/uploads/2022/11/NBA-Top-Shot-NFT-App.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>Dugout</strong></h3>



<p>This site is similar to the NBA Top Shot marketplace and specially caters to the Korean Baseball team. Fans can view and buy Korean Baseball collections, special moments, highlights, NFT-founded baseball cards, and much more on this platform. Furthermore, one can also get behind-the-scenes clips and highlights.</p>



<p>The platform effectively connects fans with their favorite sportspersons and sports clubs. Numerous global football communities and clubs have supported this platform, including Liverpool FC, FC Barcelona, Chelsea FC, Paris Saint-Germain FC, and many more. The platform hosts exclusive content by the players or clubs before it gets released elsewhere.</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="851" height="315" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/Dugout.jpg" alt="Dugout marketplace" class="wp-image-6223" srcset="https://3.111.63.208/wp-content/uploads/2023/05/Dugout.jpg 851w, https://3.111.63.208/wp-content/uploads/2023/05/Dugout-300x111.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/Dugout-768x284.jpg 768w" sizes="(max-width: 851px) 100vw, 851px" /></figure>



<h3><strong>Sorare</strong></h3>



<p>This NFT marketplace is pretty different from other sports non-fungible token marketplaces where you actually get to play in fantasy football games. In other words, users can play the game virtually with their favorite players and football team on this site. Once you register on the site, you can easily play the football matches that the site organizes.</p>



<p>You can not only build a great connection with your favorite football players or teams, but you can also earn ETH or cards. Additionally, you can build game strategies based on the real-life performance of your chosen players on this platform.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2022/10/311020751_5721753497880129_8041487346600773076_n-1024x538.jpg" alt="sorare Game" class="wp-image-2000" srcset="https://3.111.63.208/wp-content/uploads/2022/10/311020751_5721753497880129_8041487346600773076_n-1024x538.jpg 1024w, https://3.111.63.208/wp-content/uploads/2022/10/311020751_5721753497880129_8041487346600773076_n-300x158.jpg 300w, https://3.111.63.208/wp-content/uploads/2022/10/311020751_5721753497880129_8041487346600773076_n-768x403.jpg 768w, https://3.111.63.208/wp-content/uploads/2022/10/311020751_5721753497880129_8041487346600773076_n.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>NFL All Day</strong></h3>



<p>This is a licensed NFT marketplace of the NFL (National Football League) where collectors can collect some of the historic moments in the game. If you are interested in <a href="https://upyo.com/en/nft/category/trading-cards">buying digital trading cards</a>, memorabilia, and iconic shots related to NFL, this is the single place to find it all. You can filter the NFTs based on player, type of game, position, and so on.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/NFL-All-Day-1024x576.jpg" alt="NFL All Day sports NFT marketplace " class="wp-image-6224" srcset="https://3.111.63.208/wp-content/uploads/2023/05/NFL-All-Day-1024x576.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/NFL-All-Day-300x169.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/NFL-All-Day-768x432.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/NFL-All-Day-1536x864.jpg 1536w, https://3.111.63.208/wp-content/uploads/2023/05/NFL-All-Day.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>Dibbs</strong></h3>



<p>This is another NFT sports marketplace that houses a diverse range of virtual assets that are related to sports, including trading cards, memorabilia, etc.; you can find various types of assets related to football, rugby, basketball, and so on. Upon registering, the user will be given a free Frac Pac (consisting of three cards), which can be traded on the site.</p>



<p>With Dibbs, users are empowered to forge their own path in the realm of team or collectible card creation. As you navigate the platform, you&#8217;ll be rewarded with points, badges, and an array of enticing incentives. Designed with simplicity and user-friendliness in mind, this site ensures that you can swiftly embark on your journey of amassing treasured teams and players.&nbsp;</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="640" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/Dibbs-1024x640.jpg" alt="Dibbs marketplace" class="wp-image-6225" srcset="https://3.111.63.208/wp-content/uploads/2023/05/Dibbs-1024x640.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/Dibbs-300x188.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/Dibbs-768x480.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/Dibbs.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>Accubits</strong></h3>



<p>This is another unique platform that helps sportsmen and organizations build personal brands. Numerous athletes and clubs can register on this site and create unique memorabilia and put them up for sale. Sports enthusiasts who are interested in these digital assets can invest and buy them easily.</p>



<p>In fact, this site opens up new revenue streams for the sports teams and sportsmen and also helps the fans get exclusive benefits.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="374" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/Accubits-Marketplace-1024x374.jpg" alt="Accubits sports NFT marketplace" class="wp-image-6226" srcset="https://3.111.63.208/wp-content/uploads/2023/05/Accubits-Marketplace-1024x374.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/Accubits-Marketplace-300x110.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/Accubits-Marketplace-768x281.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/Accubits-Marketplace-1536x561.jpg 1536w, https://3.111.63.208/wp-content/uploads/2023/05/Accubits-Marketplace-2048x748.jpg 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>F1 Delta Time</strong></h3>



<p>If you are a Formula One fan, look no further; F1 Delta Time is a marketplace dedicated just to F1 enthusiasts. Users can gather virtual assets related to the sport, such as cars, tracks, drivers, and so on, on this platform, similar to the Sorare site. You can own digital collectibles related to the game and utilize these assets in tournaments.&nbsp;</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/NFL-All-Day-1-1024x576.jpg" alt="F1 Delta Time" class="wp-image-6227" srcset="https://3.111.63.208/wp-content/uploads/2023/05/NFL-All-Day-1-1024x576.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/NFL-All-Day-1-300x169.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/NFL-All-Day-1-768x432.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/NFL-All-Day-1-1536x864.jpg 1536w, https://3.111.63.208/wp-content/uploads/2023/05/NFL-All-Day-1.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>Fanzone Sports Club</strong></h3>



<p>This unique marketplace provides a one-of-its-kind experience to its users. The site provides lifetime access to sports passes when the users make a one-time payment. Furthermore, the users are also given access to pre-sales and exclusive NFT drops that happen on the site. Additionally, one can also watch their favorite teams play and unlock special experiences such as behind-the-scenes tours and retail item giveaways.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/Fanzone-Sports-Club-1024x576.jpg" alt="Fanzone Sports Club" class="wp-image-6228" srcset="https://3.111.63.208/wp-content/uploads/2023/05/Fanzone-Sports-Club-1024x576.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/Fanzone-Sports-Club-300x169.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/Fanzone-Sports-Club-768x432.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/Fanzone-Sports-Club.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>The Ballman Project</strong></h3>



<p>Created by Olympic champion Stan Wawrinka, this marketplace is for tennis fans. The platform allows users to foray into a virtual tennis court with a player-created ball and compete in a weekly series of virtual events. Wawrinka built nearly 6,000 unique NFTs, each of which is fully upgradeable. Or in other words, these digital assets can be tailored to your preferences.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/The-Ballman-Project-1024x538.png" alt="The Ballman Project" class="wp-image-6229" srcset="https://3.111.63.208/wp-content/uploads/2023/05/The-Ballman-Project-1024x538.png 1024w, https://3.111.63.208/wp-content/uploads/2023/05/The-Ballman-Project-300x158.png 300w, https://3.111.63.208/wp-content/uploads/2023/05/The-Ballman-Project-768x403.png 768w, https://3.111.63.208/wp-content/uploads/2023/05/The-Ballman-Project.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2><strong>Conclusion</strong></h2>



<p>Non-fungible tokens have revolutionized the way the public sees ownership and rarity. And now it is changing the face of the sports industry too. Apart from creating new revenue streams for sportsmen, clubs, and other individuals, the NFT sports marketplace is establishing a way where fans can connect with their favorite players and clubs transparently.</p>


10 Sports NFT Marketplaces To Boost Your NFT Sports Assets

15 NFT Courses To Get Mastery Over Non-fungible Tokens


<p>Non-fungible tokens have paved the way for innovation, and if you are an artist or content creator, you can immensely benefit from NFT, by knowing how to create an NFT for free. In fact, non-fungible tokens can help you in transforming your virtual assets into one-of-a-kind digital assets that you can trade on the blockchain.</p>



<p>They can provide passive income and easily make you popular in the digital or crypto (NFT) world. However, if you are new to NFT or crypto, you may have multiple doubts about its creation and its requirements. This article will explain how to create an NFT step by step to create your non-fungible tokens easily.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2022/11/NFTs-1024x576.jpg" alt="make nft" class="wp-image-2335" srcset="https://3.111.63.208/wp-content/uploads/2022/11/NFTs-1024x576.jpg 1024w, https://3.111.63.208/wp-content/uploads/2022/11/NFTs-300x169.jpg 300w, https://3.111.63.208/wp-content/uploads/2022/11/NFTs-768x432.jpg 768w, https://3.111.63.208/wp-content/uploads/2022/11/NFTs-1536x864.jpg 1536w, https://3.111.63.208/wp-content/uploads/2022/11/NFTs-2048x1152.jpg 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">NFTs</figcaption></figure>



<h2>How to create an NFT?</h2>



<p>Non-fungible tokens, or NFTs, are digital assets that usually represent digital art, music, collectibles, and so on. One can purchase them through <a href="https://upyo.com/en/post/top-nft-websites">various reliable non-fungible token marketplaces</a> online. Creating non-fungible tokens is relatively easy if you follow the prescribed steps diligently.</p>



<h3><strong>Step 1: Determine the NFT you want to create</strong></h3>



<p>Anything can be an NFT, be it digital art, music, video, domain name, etc., Also these tokens can also represent a physical item that has real-world existence. Usually, one can easily create an NFT without the help of a developer if it is a regular non-fungible token, such as art, music, video clip, etc., instead of a smart contract or a game.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2023/01/321485121_685026563368733_8441847159806706459_n-1024x538.jpg" alt="nft creation" class="wp-image-3714" srcset="https://3.111.63.208/wp-content/uploads/2023/01/321485121_685026563368733_8441847159806706459_n-1024x538.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/01/321485121_685026563368733_8441847159806706459_n-300x158.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/01/321485121_685026563368733_8441847159806706459_n-768x403.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/01/321485121_685026563368733_8441847159806706459_n.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>When generating a non-fungible token, consider why you are creating it in the first place (the purpose of NFT creation). In most cases, the main goal is to generate a rare or unique token that can be sold. Whatever your goal, just remember that as a creator, you must deliver significant value through your products for buyers to be interested in purchasing them.</p>



<p><strong>Note: </strong>You can include a promo code or other attractive offers to your NFT to grab the attention of purchasers.</p>



<h3><strong>Step 2: Select the blockchain</strong></h3>



<p>Picking a blockchain network that matches your preference and requirements for creating NFT is paramount. You decide on this beforehand to avoid confusion, as <a href="https://upyo.com/en/post/nft-blockchains">numerous blockchains are available</a>, each with pros and cons. The blockchain you choose will help store your non-fungible token and maintain a permanent record.</p>



<p>Some of the popular blockchain networks that one can avail of are &#8211; Ethereum, Binance Smart Chain, Polygon, Flow, Solana, and so on.</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="624" height="351" src="https://adminblog.upyo.io/wp-content/uploads/2023/03/Ethereum.jpg" alt="making nfts" class="wp-image-4622" srcset="https://3.111.63.208/wp-content/uploads/2023/03/Ethereum.jpg 624w, https://3.111.63.208/wp-content/uploads/2023/03/Ethereum-300x169.jpg 300w" sizes="(max-width: 624px) 100vw, 624px" /></figure>



<h3><strong>Step 3: Create a wallet account</strong></h3>



<p>After selecting a blockchain network, you must next choose a digital wallet that is compatible with it. The first step in creating a wallet account is to download the wallet app and set up a username and password for it. Next, you will have to save your recovery seed phrase and private keys in a secure location for backup purposes. Having a crypto wallet is crucial as it facilitates financial transactions.</p>



<p>Here are some of the well-known crypto wallets that are compatible with several blockchain networks:</p>



<p><strong>MetaMask: </strong>This is one of the well-known and most sought out crypto wallets among NFT enthusiasts. The wallet supports numerous cryptocurrencies and popular blockchains, such as Ethereum, BNB, etc.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2022/12/MetaMask-wallet-1-1024x538.png" alt="create nft for free
" class="wp-image-3303" srcset="https://3.111.63.208/wp-content/uploads/2022/12/MetaMask-wallet-1-1024x538.png 1024w, https://3.111.63.208/wp-content/uploads/2022/12/MetaMask-wallet-1-300x158.png 300w, https://3.111.63.208/wp-content/uploads/2022/12/MetaMask-wallet-1-768x403.png 768w, https://3.111.63.208/wp-content/uploads/2022/12/MetaMask-wallet-1.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p><strong>Coinbase Wallet:</strong> This is another popular crypto wallet that supports ERC-721 NFT tokens and Solana blockchain.</p>



<p>Both the above-mentioned wallets can be downloaded as browser extensions for easy use. Apart from this, there are other crypto wallets that you can choose too.</p>



<h3><strong>Step 4: Purchase cryptocurrencies for the wallet</strong></h3>



<p>After creating your wallet account, you must next buy a cryptocurrency and fund your wallet through a crypto exchange. For instance, one can buy ETH or SOL to mint non-fungible tokens (depending on the blockchain network). So, you can buy these through exchange and transfer those coins to the wallet.</p>



<p>Here are the steps that you must follow:</p>



<ul>
<li>Connect to the exchange.</li>



<li>Go to the Wallets tab from the top or bottom menu.</li>



<li>Select the ‘Withdraw’ option and choose the appropriate currency.</li>



<li>Add your wallet address in the Address area.</li>



<li>Choose the appropriate network based on the blockchain (such as ERC-20 for ETH and Solana for SOL).</li>



<li>Add the amount you desire and click on ‘Withdraw.’</li>
</ul>



<h3><strong>Step 5: Select an NFT platform</strong></h3>



<p>Once you have a digital wallet and fund it with crypto, the next step will be to find a good NFT platform where you can create and list the non-fungible tokens for sale. Choosing a platform depends on your requirements. For instance, you must <a href="https://upyo.com/en/post/nft-gas-fee">consider gas fees</a>, blockchains, and crypto wallets that are supported on the platform.</p>



<p>UPYO is one of the rapidly growing NFT platforms that you can use to create and trade your non-fungible tokens. The platform supports different blockchain networks, such as Ethereum and Polygon. Hundreds of NFT artists have created wonderful art on this platform.</p>



<h3><strong>Step 6: Create your NFT</strong></h3>



<p>After successfully completing the above steps, you can move to the crucial step of creating your non-fungible tokens on the chosen platform. In fact, creating NFT is pretty simple; here&#8217;s how you can create it on <a href="https://upyo.com/en/nft">UPYO</a>:</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="652" src="https://adminblog.upyo.io/wp-content/uploads/2022/10/upyo-1100x700-1-1024x652.jpeg" alt="UPYO" class="wp-image-1979" srcset="https://3.111.63.208/wp-content/uploads/2022/10/upyo-1100x700-1-1024x652.jpeg 1024w, https://3.111.63.208/wp-content/uploads/2022/10/upyo-1100x700-1-300x191.jpeg 300w, https://3.111.63.208/wp-content/uploads/2022/10/upyo-1100x700-1-768x489.jpeg 768w, https://3.111.63.208/wp-content/uploads/2022/10/upyo-1100x700-1.jpeg 1100w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<ul>
<li>Create/Login to your UPYO account.</li>



<li>Next, connect your crypto wallet to the platform.</li>



<li>Navigate to the top right of your screen and click &#8220;Create.&#8221;</li>



<li>You will be taken to the &#8220;Upload Item&#8221; page to create a single or multiple NFTs.</li>



<li>Click on &#8220;Create Single&#8221; if you wish to upload a singular, unique asset. Or, if you want to create multiple copies of your unique NFT, select the &#8220;Create Multiple.&#8221;</li>



<li>After that, you can upload your file (in PNG, GIF, JPG, or JPEG format); however, the size of the file must be within 5 MB.</li>



<li>Add some information about the NFT, such as name and description.</li>



<li>Select the category and royalty rate. Remember that the royalty rate indicates the percentage of royalty you will earn whenever your piece is sold on a secondary marketplace.</li>
</ul>



<h3><strong>Step 7: Listing your NFT</strong></h3>



<p>Once you create the NFT, you can next list them on the platform easily. Most of the platforms do not require any fee for listings. Thus, after creating your non-fungible tokens, click on the ‘Sell’ option and set up a price for your token, and also enter the sale duration.</p>



<p>Furthermore, you can also build your NFT listing after specifying the specifications of your sale. This step may require some transactions involving your crypto wallet, including fee payments and others.</p>



<h2>Could You make an NFT for free?</h2>



<p>One can easily create free NFTs on numerous non-fungible token marketplaces. UPYO supports free minting options for its users on its platform. When uploading your non-fungible token on UPYO, you can select the &#8220;Free Minting&#8221; option on the window, follow the prompts on the screen, and click &#8220;Create Item.&#8221;</p>



<p>The MetaMask pop-up will ask you to confirm your signature; however, there will not be any money deduction from your account once confirmed.</p>



<h2>Conclusion</h2>



<p>Creating NFTs is not a difficult process, provided you know what is needed to be done beforehand. Understanding what you want to create is the first step towards creating your non-fungible tokens.</p>



<p>Next, you can check which blockchain networks and crypto wallets can support your requirements, followed by the NFT marketplace. You must also know the minting charges or gas fees involved in creating your NFTs so that you have sufficient funds.</p>


Know How To Create an NFT For Free


<p>In today&#8217;s digital age, the traditional methods of education and certification are being challenged. With the rise of NFTs, or non-fungible tokens, numerous sectors are undergoing massive change, and education is no exception. In fact, non-fungible tokens have the potential to revolutionize the education industry, providing a secure and verifiable way to authenticate educational credentials, incentivize learning, and create new markets for educational content.&nbsp;</p>



<p>This article will examine how non-fungible tokens are being employed in education and how they could transform the field.</p>



<h2>The Role of NFT in Education&nbsp;</h2>



<p>NFTs are mostly associated with art, collectibles, and gaming. However, their potential for education is becoming increasingly apparent post the global pandemic. Simply put, they have the ability to play a significant role in education. The next section will elucidate the role of non-fungible tokens in education in detail.</p>



<h2>The effect of NFTs on the education sector</h2>



<p>NFTs or non-fungible tokens have the potential to impact the education sector in several ways, including:</p>



<h3>Validating educational credentials</h3>



<p> Non-fungible tokens can be employed to depict educational credentials, such as academic or course completion certificates, degree or diploma certifications, and so on, in a secure and attestable way. This could eliminate the need for third-party verification services and make it easier for employers and academic institutions to verify educational achievements.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/educational-credentials-1024x576.jpg" alt="education nft" class="wp-image-6137" srcset="https://3.111.63.208/wp-content/uploads/2023/05/educational-credentials-1024x576.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/educational-credentials-300x169.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/educational-credentials-768x432.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/educational-credentials.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3>Incentivizing learning</h3>



<p> NFTs can also be used as a way to incentivize learning. For instance, Educational institutions can use NFTs to represent their course or skill achievement status. Furthermore, students who successfully complete a certain milestone in their academic progress may be awarded <a href="https://upyo.com/en/post/nft-gifts">non-fungible token gifts</a> for their accomplishments.</p>



<h3>Creating new markets for educational content</h3>



<p> Non-fungible tokens can also be used to create new markets for educational content. For example, institutions or instructors can use non-fungible tokens as a gateway or a key to certain exclusive educational content. It can be academic materials, online courses, or others. The NFTs representing these things can be sold to students interested in buying them.&nbsp;</p>



<h3>Facilitating ownership of educational resources</h3>



<p> Non-fungible tokens have emerged as a powerful tool to facilitate ownership of educational resources, ranging from textbooks to online courses. By leveraging NFTs, students gain streamlined access to valuable educational materials while content creators get a unique opportunity to monetize their work.</p>



<p>Overall, the potential impact of NFTs on the education sector extends far beyond resource ownership. These digital assets have the capacity to revolutionize the authentication of educational credentials, foster learning incentives, and unlock new markets for educational content. As technology evolves, educators and institutions are poised to embrace NFTs, integrating their advantages to enhance student learning outcomes.</p>



<h2>Where are NFTs being used in education?</h2>



<p>Although the use of NFTs in education is still relatively new, there are already some examples of their use in the field. Here are a few examples:</p>



<h3>Skill-based credentials</h3>



<p>Some universities and educational institutions are experimenting with using non-fungible tokens to represent skill-based credentials. For example, the University of Bahrain has introduced NFTs as micro-credential representatives for certain courses or skills. As such, students can earn these credentials by completing these online short courses.</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/UoB_PSSO-1024x576-1.jpg" alt="nft for education" class="wp-image-6136" srcset="https://3.111.63.208/wp-content/uploads/2023/05/UoB_PSSO-1024x576-1.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/UoB_PSSO-1024x576-1-300x169.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/UoB_PSSO-1024x576-1-768x432.jpg 768w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3>Virtual education</h3>



<p>Some educational institutions have used non-fungible tokens to sell their digital courses. Furthermore, even curriculum materials can be represented by NFTs and sold or transferred to students who want them. By doing so, one can market virtual learning and, at the same time, retain and emphasize their brand identity.</p>



<h3>Efficient record keeping</h3>



<p> Maintaining student records is simple for big universities or educational institutions. Considering that thousands of students enroll and graduate from a university every year, the number of students will not cease. Having a traditional record-keeping system in such a scenario can be prone to misuse or theft.&nbsp;</p>



<p>However, if such a system can adopt blockchain technology, it will simplify things. Non-fungible tokens and blockchain technology can help validate students&#8217; records easily. In other words, each student record or credential can be converted into <a href="https://upyo.com/en/post/store-nft">NFTs and saved on the blockchain network</a>. Furthermore, non-fungible tokens can be employed to deposit research data too. This way, the authenticity of the information can be preserved.</p>



<h3>Ownership and sharing of digital content</h3>



<p>NFTs can also be used to represent ownership of digital content, such as textbooks and other educational materials. This could make it easier for students to access and share educational resources while also providing a way for educational content creators to monetize their work.</p>



<h3>Incentivizing learning</h3>



<p>Some educational platforms are experimenting with using NFTs to incentivize learning. For example, the educational platform Coursera has created NFTs to reward students who complete specific courses or achieve certain milestones.</p>



<p>Overall, while the use of NFTs in education is still in its early stages, there is already a growing interest in the potential of this technology to transform the way we approach education and learning. As more educational institutions and platforms experiment with NFTs, it will be interesting to see how this technology evolves and impacts the field.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="464" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/GettyImages-954077270-1024x464.jpg" alt="nfts in education" class="wp-image-6138" srcset="https://3.111.63.208/wp-content/uploads/2023/05/GettyImages-954077270-1024x464.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/GettyImages-954077270-300x136.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/GettyImages-954077270-768x348.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/GettyImages-954077270.jpg 1500w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2>Conclusion</h2>



<p>The use of NFTs in education is still in its early stages, but the potential impact is clear. From authenticating educational credentials to incentivizing learning, NFTs provide a new way to approach education in the digital age. As the technology continues to evolve, it will be interesting to see how educational institutions and platforms incorporate NFTs into their offerings and leverage their benefits for the benefit of learners. One thing is certain: the education sector will never be the same again.</p>


NFT Education: Transforming The Way Students Learn

Blockchain


<p>Are you wondering why blockchain is being spoken of in every technological innovation related to crypto, NFTs, or Metaverse of late? Since the emergence of Bitcoin, every technology enthusiast has been trying to explore how blockchain can be deployed across various applications and businesses. While this technology offers numerous benefits to the world, most people have yet to learn what it is or how it works.</p>



<p>This article will simplify the blockchain for dummies to explain concepts and their workings so that you can get a fundamental idea about it.</p>



<h2>Blockchain: What does it exactly mean?</h2>



<p>Firstly, going by the name, one can say that it is a chain of blocks. Each of these blocks is linked sequentially to store digital information virtually.</p>



<p>The standard definition states that it is a shared and distributed digital ledger that primarily saves transaction information and other <a href="https://upyo.com/en/post/decentralized-identity">digital data in a decentralized manner</a>. Each block in this network is analogous to a ledger page or record book, holding an immutable record of transactions that don&#8217;t necessitate a third-party authority to validate the data&#8217;s authenticity and integrity.</p>



<p>The best example to understand blockchain technology is bitcoin (we will discuss the working in the following section).</p>



<h3><strong>History</strong></h3>



<p>This technology has its root in the Journal of Cryptography, where Scott and Stornetta published &#8220;How to Time-Stamp a Digital Document&#8221; in 1991. But, it was in 2009 that blockchain technology rose to popularity. One of the solid reasons for its fame is the Great Recession that occurred in 2008.</p>



<p>Thus, one can infer that blockchain technology was developed and popularized to counter the 2008 recession crisis. Bitcoin is the foremost example that used this technology and is still in vogue.</p>



<p>Although this technology monitors and records economic transactions, it is not limited to finance alone. Instead, one may use it to store any digital data, track and save land ownership details, medical records, and even votes.</p>



<h3><strong>Structure</strong></h3>



<p>The blockchain is made up of numerous blocks, where each block consists of three significant parts as given below:</p>



<ul>
<li><strong>Data:</strong> It is nothing but the information that is stored and depends on the blockchain’s purpose. For instance, in the case of cryptocurrency, the data comprises transaction information such as sender and receiver details, number of coins, and other information.</li>



<li><strong>Hash:</strong> This is a unique signature akin to a fingerprint that recognizes a block and what it entails.</li>



<li><strong>The hash of the previous block:</strong> As the name implies, this part of the blockchain stores the preceding block&#8217;s information. Additionally, this particular element makes the blockchain secure.</li>
</ul>



<p>To better understand what a blockchain is, one must first understand what it is not. This is because people misinterpret the concepts of blockchain and make some mistakes. Thus, here are a few things that you must know:</p>



<h3>Blockchain is <strong>NOT </strong>a:</h3>



<ul>
<li>Cryptocurrency</li>



<li>Cryptographic codification</li>



<li>Python framework or library</li>



<li>Programming language</li>



<li>Machine learning technology or AI</li>
</ul>



<h3><strong>Features of blockchain:</strong></h3>



<ul>
<li>Enhanced security and capacity</li>



<li>Immutability</li>



<li>Decentralized network</li>



<li>Consensus</li>
</ul>



<h2><strong>Types of blockchain</strong></h2>



<p>Various types of blockchains are in use today. Each of them has an application, benefit, or advantage that makes it desirable for specific tasks. There are four main types of blockchains based on the type of decentralization:</p>



<h3><strong>Public blockchain</strong></h3>



<p>As the name implies, this type of network is accessible to all and has no owner as such. Anyone with a secure internet and computer can join this network without restrictions. Each node in this network retains a copy of transactions that happen in this network. This blockchain is anonymous and secure, with a slow processing speed.</p>



<p><strong>Example: </strong>Bitcoin and Ethereum</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="680" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/Bitcoin-and-Ethereum-1024x680.jpg" alt="blockchain explained for dummies" class="wp-image-5897" srcset="https://3.111.63.208/wp-content/uploads/2023/05/Bitcoin-and-Ethereum-1024x680.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/Bitcoin-and-Ethereum-300x199.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/Bitcoin-and-Ethereum-768x510.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/Bitcoin-and-Ethereum-1536x1020.jpg 1536w, https://3.111.63.208/wp-content/uploads/2023/05/Bitcoin-and-Ethereum.jpg 2000w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>Private blockchain</strong></h3>



<p>This network is private, where only selected nodes are employed to record and store transactions. Thus, anyone using this network experiences higher speed, enhanced privacy, <a href="https://upyo.com/en/post/blockchain-scalability">improved blockchain scalability</a>, and balanced network performance. However, these networks are a bit centralized and have some risk factors due to the reduced number of nodes.</p>



<p><strong>Examples:</strong> Corda and Hyperledger</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="1000" height="600" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/Corda-and-Hyperledger.jpg" alt="blockchain technology definition" class="wp-image-5898" srcset="https://3.111.63.208/wp-content/uploads/2023/05/Corda-and-Hyperledger.jpg 1000w, https://3.111.63.208/wp-content/uploads/2023/05/Corda-and-Hyperledger-300x180.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/Corda-and-Hyperledger-768x461.jpg 768w" sizes="(max-width: 1000px) 100vw, 1000px" /></figure>



<h3><strong>Consortium blockchain</strong></h3>



<p>Also known as the federated blockchain, this type of network works on the hybrid model. It incorporates both public and private blockchain features. Numerous organizations govern the blockchain network, and a few nodes conduct transaction verification.</p>



<p>Thus the network is faster and more decentralized, offering privacy and flexibility to the users. Additionally, the network addresses various issues such as transparency, differences in vision, and vulnerability.</p>



<p><strong>Examples:</strong> Multichain and Tendermint</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/Multichain-and-Tendermint-1024x576.png" alt="blockchain technology explained" class="wp-image-5899" srcset="https://3.111.63.208/wp-content/uploads/2023/05/Multichain-and-Tendermint-1024x576.png 1024w, https://3.111.63.208/wp-content/uploads/2023/05/Multichain-and-Tendermint-300x169.png 300w, https://3.111.63.208/wp-content/uploads/2023/05/Multichain-and-Tendermint-768x432.png 768w, https://3.111.63.208/wp-content/uploads/2023/05/Multichain-and-Tendermint.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>Hybrid blockchain</strong></h3>



<p>As the name suggests, this network entails both public and private blockchain network features. It also has fewer nodes than public blockchains and dedicated nodes that verify transactions. The structure of these blockchain networks is highly configurable.</p>



<p>Furthermore, the network has the ability to select which transactions and participants to be made public. While it has some significant advantages, it still has disadvantages in efficiency, transparency, and lower incentive for participation.</p>



<p><strong>Examples: </strong>XRP tokens and Ripple</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/Ripple--1024x538.png" alt="blockchain for dummies" class="wp-image-5900" srcset="https://3.111.63.208/wp-content/uploads/2023/05/Ripple--1024x538.png 1024w, https://3.111.63.208/wp-content/uploads/2023/05/Ripple--300x158.png 300w, https://3.111.63.208/wp-content/uploads/2023/05/Ripple--768x403.png 768w, https://3.111.63.208/wp-content/uploads/2023/05/Ripple-.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2>Explain the workings of a blockchain technology</h2>



<p>A blockchain works similarly to a database, but the main difference lies in the way it is structured. To elaborate further, the blockchain’s information or details is stored in blocks which is not the case with a database. The information or data in a database is recorded in tables.</p>



<p>As discussed above, one can record various types of information on blockchain networks in addition to transaction details. Let us see how transactions work in a blockchain:</p>



<ul>
<li><strong>Facilitating transactions:</strong> This is the first step in the transaction process. Any information that is to be transmitted is double-encrypted with the help of private and public keys at this stage.</li>



<li><strong>Verification of transaction:</strong> Next, the encrypted information is transmitted to the peer-to-peer network of computers that is widespread across the world. The network&#8217;s nodes validate the transaction&#8217;s validity (such as determining if there is enough balance to perform the transaction).</li>



<li><strong>Creation of new block:</strong> A blockchain consists of numerous nodes where a number of transactions get checked and approved simultaneously. Thus, transactions that are validated as such at a specific node form a mem pool. Also, new verifications that are performed at that particular node get added to that mem pool. Furthermore, numerous mem pools that are formed as such constitute a block.</li>



<li><strong>Consensus algorithm:</strong> Every node that is involved in the formation of a block will try adding it to the blockchain to make it permanent. However, if each node is enabled to add blocks, the working of the blockchain network gets disrupted. Thus, to avoid such issues, a consensus mechanism is employed by the node.</li>
</ul>



<p>This mechanism makes sure that the blocks incorporated into the blockchain are the only true version that all nodes agree on and that only valid blocks are connected securely to the blockchain. Furthermore, whichever node gets selected to add a block receives a reward and is termed &#8220;miners.&#8221; This algorithm creates a hash code for the block, which is necessary to attach the block to the network.</p>



<ul>
<li><strong>Addition of new blocks:</strong> A newly created block gets its hash value once it is validated. Next, it can be incorporated into the blockchain. Just remember that every block in the network has a hash value of the previous block, which helps in cryptographical linking and, in turn, aids in creating a blockchain. Thus, as and when a new block gets created, it is secured to the open end of the blockchain.</li>



<li><strong>Transaction complete:</strong> Once a transaction is successfully completed, it gets attached to the blockchain network. Furthermore, the transaction details get permanently recorded in the network. Thus, anyone can go through the information and verify the transaction.</li>
</ul>



<h3>Let&#8217;s see how transactions work with a Bitcoin:</h3>



<p><strong>Step 1: Facilitating transaction &#8211; </strong>Suppose you want to send 10BTC to Person B through the blockchain network. You initiate it on your end.</p>



<p><strong>Step 2: Transaction verification &#8211; </strong>Once the transaction is initiated, the verification message gets transmitted to all nodes in the network. Thus, the nodes start the validation process and check if you have a registered node and sufficient balance to transfer the 10BTC transactions. Furthermore, the node also verifies if the node of Person B is registered or not.</p>



<p><strong>Step 3: New block creation &#8211;</strong> All successful verifications are stored in the mem pool and recorded in a block.</p>



<p><strong>Step 4: Consensus algorithm &#8211;</strong>&nbsp;</p>



<p>Proof of Work is the consensus algorithm that we have to use as we have used bitcoins as an example. In this mechanism, a target hash value is allocated to a node, which helps generate a hash that’ll be assigned for the new block. Typically, the node must generate a hash value that is less than the target value.</p>



<p><strong>Step 5: Addition/Insertion of a new block &#8211; </strong>The blockchain gets a new block once a new block gets authenticated by the consensus algorithm and gets a new hash value.&nbsp;</p>



<p><strong>Step 6: Transaction completion &#8211;</strong> The transaction is deemed complete after the block is added to the blockchain. Thus, Person B will get 10BTC, and the new block gets attached to the open end of the blockchain. Furthermore, the transaction information gets permanently stored on the blockchain.</p>



<h2>Conclusion</h2>



<p>Blockchain technology is ever-evolving and is going to bring many more innovations to the fore. This technology addresses the inadequacies of the centralized system by offering a decentralized solution. By now, you would have a basic understanding of how this technology works and the various types of blockchain that are to be used for certain applications.</p>


Blockchain For Dummies: The Ultimate Guide


<p>Non-fungible tokens, or simply NFTs, have been in the limelight for some time now. They are taking the world by storm and revolutionizing how virtual ownership is being perceived worldwide. While many people associate non-fungible tokens with the booming digital art and collectibles market, their utility goes far beyond simply representing a digital asset.</p>



<p>In fact, non-fungible tokens are increasingly being used as a way to create new markets for digital goods, <a href="https://upyo.com/en/post/decentralized-identity">verify identity in a decentralized way</a>, and even secure the ownership of real-world assets. In this article, we&#8217;ll explore the world of NFT utility and closely examine some of the most exciting use cases for this groundbreaking technology.</p>



<h2>What&#8217;s NFT utility?</h2>



<p>NFT utility refers to the practical use or purpose of a non-fungible token (NFT). Usually, when talking about utility NFTs, most think about digital art or collectibles. However, it is not limited to this alone; it can also serve various practical purposes. In fact, utility refers to advantages or rewards granted to the non-fungible token owner.</p>



<p>One example of NFT utility is in the gaming industry, where non-fungible tokens are used to represent in-game assets, such as weapons or characters, that players can own and trade. These NFTs with utility have the potential to create a new market for gaming items, as players can buy and sell NFTs to acquire rare or desirable assets.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/NFT-Gaming-1024x538.png" alt="nfts with utility" class="wp-image-5830" srcset="https://3.111.63.208/wp-content/uploads/2023/05/NFT-Gaming-1024x538.png 1024w, https://3.111.63.208/wp-content/uploads/2023/05/NFT-Gaming-300x158.png 300w, https://3.111.63.208/wp-content/uploads/2023/05/NFT-Gaming-768x403.png 768w, https://3.111.63.208/wp-content/uploads/2023/05/NFT-Gaming.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>Another example of NFT utility is the music sector, where non-fungible tokens can be used to represent ownership or access to a particular piece of music, such as an album or concert ticket. This can help musicians monetize their work in new ways, as fans can purchase non-fungible tokens that represent a stake in their music.</p>



<p>NFTs can also be useful in other areas, such as real estate, virtual worlds, and identity verification. As the use of NFTs continues to grow, new use cases and applications for NFT utility will likely emerge.</p>



<h2>How does it work?</h2>



<p>The utility of an NFT is nothing but its ability to represent ownership or access to a unique digital asset. Non-fungible tokens are created on a blockchain network, which provides a decentralized and <a href="https://upyo.com/en/post/nft-security">secure way to verify the ownership</a> and authenticity of the digital asset.</p>



<p>To create an NFT, an artist or creator will typically mint the digital asset as an NFT using a platform or marketplace that supports NFT creation. Usually, the minting process will have 3 steps:</p>



<ul>
<li>New block creation</li>



<li>Data validation</li>



<li>Addition of validated data on the blockchain</li>
</ul>



<p>The NFT is then assigned a unique identifier recorded on the blockchain network. This identifier is used to verify ownership and track the ownership history of the NFT as it is bought, sold, and traded.</p>



<p>Once the non-fungible token is created, it can be bought and sold on NFT marketplaces or through private transactions. The NFT represents ownership of the underlying digital asset, which can be anything from an image or video to a piece of music or a virtual world asset. The owner of the NFT has exclusive rights to that asset and can transfer ownership or sell the NFT to another party.</p>



<p>The utility of an NFT can vary depending on the specific use case. For example, an NFT may represent ownership of a rare or valuable in-game item in gaming. Or, it may represent ownership of a particular song or album or access to a virtual concert in the music industry. In each case, the NFT provides a way to verify ownership and transfer that ownership in a decentralized and secure manner.</p>



<h2>Use Cases of Utility NFTs</h2>



<p>There is a wide range of use cases for utility NFTs, where the practical use of the token goes beyond simply representing a digital asset. Here are some examples:</p>



<h3><strong>E-gaming</strong></h3>



<p>As discussed above, non-fungible tokens can be used to represent in-game assets, such as weapons, avatars, or apparel. Players can purchase and sell these non-fungible tokens to acquire rare or desirable in-game items. NFT with utility assist the users to own the previously mentioned assets and retaining them even after quitting the game.</p>



<p>Usually, these purchased assets can be stored on the blockchain, and they can also be traded on the marketplace or exchanged for other assets or money. For instance, utility non-fungible tokens boost the economy of the metaverse sector.</p>



<h3><strong>Music</strong></h3>



<p>Non-fungible tokens can be used to represent ownership or access to a particular piece of music, such as an album or concert ticket. Musicians can use these assets to monetize their work in innovative ways, which can help them boost their revenue. One can see numerous artists who <a href="https://upyo.com/en/post/nft-music">release exclusive NFT music</a> and also offer numerous perks to those users who purchase them.</p>



<h3><strong>Identity verification</strong></h3>



<p>NFTs can be used to represent a unique identity or personal information. This can help to verify identity in a decentralized and secure way without depending on a centralized authority.</p>



<h3><strong>Virtual worlds</strong></h3>



<p>The use of NFTs extends to virtual worlds, where they serve as digital representations of virtual assets such as virtual collectibles or real estate. In this context, players can participate in buying and selling non-fungible tokens with the aim of acquiring unique and <a href="https://upyo.com/en/post/metaverse-real-estate">uncommon virtual assets</a>. One can say that the emergence of NFTs in the virtual world has consequently created a new market for digital goods.</p>



<p>The smart contract technology employed here helps the transaction remain transparent and fraud-proof. Furthermore, the non-fungible tokens purchased can help the buyer get passive rewards through renting.</p>



<p>For example, initiatives like Decentraland and Sandbox offer these kinds of utility non-fungible tokens. Moreover, it has been popularized to the extent that people are ready to invest millions of dollars in it.</p>



<h3><strong>Sports</strong></h3>



<p>NFTs have the capability to function as proof of ownership or access to sports memorabilia, including game-worn jerseys or championship rings. By purchasing NFTs, enthusiasts can gain a stake in their preferred sports teams or players, opening up novel means of connecting with and expressing their support for their favorite sports teams.</p>



<h3><strong>Ticketing</strong></h3>



<p>NFTs have the potential to signify ownership or grant access to specific events, like concerts or sports games. NFTs serve as a secure and decentralized method for verifying ownership and transferring access, reducing instances of fraud and scalping.</p>



<p>Overall, the use cases for utility NFTs are diverse and expanding rapidly. As more industries and applications embrace NFTs, new use cases will likely emerge, and the market for utility NFTs will continue to grow.</p>



<h2>Best Popular NFT Utility Projects for 2023</h2>



<p>Here are some popular NFT utility projects across various industries:</p>



<h3><strong>Decentraland</strong></h3>



<p>Decentraland is a popular platform that uses non-fungible tokens to represent virtual real estate and other assets within the virtual world. Players can buy and sell virtual plots on this site and build or carry out various tasks here.&nbsp;</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2022/12/Decentraland-1024x538.png" alt="Decentraland Game" class="wp-image-3078" srcset="https://3.111.63.208/wp-content/uploads/2022/12/Decentraland-1024x538.png 1024w, https://3.111.63.208/wp-content/uploads/2022/12/Decentraland-300x158.png 300w, https://3.111.63.208/wp-content/uploads/2022/12/Decentraland-768x403.png 768w, https://3.111.63.208/wp-content/uploads/2022/12/Decentraland.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Decentraland</figcaption></figure>



<h3><strong>CryptoKitties</strong></h3>



<p>CryptoKitties is a blockchain-based game that uses NFTs to represent unique digital cats. Players can buy, sell, and breed their CryptoKitties, with rare and desirable traits increasing the value of the NFTs.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="532" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/CryptoKitties-1024x532.jpg" alt="CryptoKitties" class="wp-image-5826" srcset="https://3.111.63.208/wp-content/uploads/2023/05/CryptoKitties-1024x532.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/CryptoKitties-300x156.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/CryptoKitties-768x399.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/CryptoKitties-1536x799.jpg 1536w, https://3.111.63.208/wp-content/uploads/2023/05/CryptoKitties-2048x1065.jpg 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>SuperRare</strong></h3>



<p>SuperRare is a curated marketplace for buying and selling digital art as NFTs, where NFT creators can sell their virtual art as unique non-fungible tokens to collectors. Whoever buys these non-fungible tokens will be able to have exclusive ownership rights to the art.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/SuperRare-Utility-1024x538.png" alt="" class="wp-image-5827" srcset="https://3.111.63.208/wp-content/uploads/2023/05/SuperRare-Utility-1024x538.png 1024w, https://3.111.63.208/wp-content/uploads/2023/05/SuperRare-Utility-300x158.png 300w, https://3.111.63.208/wp-content/uploads/2023/05/SuperRare-Utility-768x403.png 768w, https://3.111.63.208/wp-content/uploads/2023/05/SuperRare-Utility.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>Silks</strong></h3>



<p>This is a P2E ecosystem that depicts real-world horserace with the help of non-fungible tokens. The horses present in this ecosystem represent real-world thoroughbred racing horse yearlings. Players in this game earn Silks metaverse when their own Silks horses win a horserace in the physical world.</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="975" height="571" src="https://adminblog.upyo.io/wp-content/uploads/2022/10/Silks-NFT.png" alt="Silks" class="wp-image-2207" srcset="https://3.111.63.208/wp-content/uploads/2022/10/Silks-NFT.png 975w, https://3.111.63.208/wp-content/uploads/2022/10/Silks-NFT-300x176.png 300w, https://3.111.63.208/wp-content/uploads/2022/10/Silks-NFT-768x450.png 768w" sizes="(max-width: 975px) 100vw, 975px" /></figure>



<h3><strong>IMPT</strong></h3>



<p>This is the latest entrant to the NFT utility project list that is launched to help neutralize global warming. By converting carbon credits &#8211; licenses that permit firms to discharge CO2 into the atmosphere &#8211; into non-fungible tokens that are completely tradable, it aims to achieve this goal.</p>



<p>Carbon credit NFTs can be bought and sold by investors, held for extended periods, or even &#8220;retired&#8221; by permanently removing them from the blockchain in exchange for a different NFT.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="455" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/IMPT-Utility-1024x455.jpg" alt="" class="wp-image-5828" srcset="https://3.111.63.208/wp-content/uploads/2023/05/IMPT-Utility-1024x455.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/IMPT-Utility-300x133.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/IMPT-Utility-768x341.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/IMPT-Utility.jpg 1131w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>NBA Top Shot</strong></h3>



<p>NBA Top Shot is a digital collectible platform that uses NFTs to represent moments from NBA games. Fans can purchase non-fungible tokens that represent ownership of a particular moment, such as a dunk or a three-pointer.</p>



<p>Cocky: This is a project that focuses on providing access to real-world music events. Cocky aims to redefine the meaning of utility by establishing an elite lifestyle events club accessible to all NFT holders. They plan to organize exclusive electronic music events in premium locations, offering their NFT holders an unforgettable, immersive experience. The company plans to conduct a minimum of two in-person events each year while hosting virtual events regularly in the interim.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2022/11/NBA-Top-Shot-NFT-App-1024x538.png" alt="NBA Top Shot Utility" class="wp-image-2700" srcset="https://3.111.63.208/wp-content/uploads/2022/11/NBA-Top-Shot-NFT-App-1024x538.png 1024w, https://3.111.63.208/wp-content/uploads/2022/11/NBA-Top-Shot-NFT-App-300x158.png 300w, https://3.111.63.208/wp-content/uploads/2022/11/NBA-Top-Shot-NFT-App-768x403.png 768w, https://3.111.63.208/wp-content/uploads/2022/11/NBA-Top-Shot-NFT-App.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2>Conclusion</h2>



<p>Overall, NFTs or non-fungible tokens are a new way of representing ownership and access to digital assets. Furthermore, the utility of NFTs is growing across various industries, such as gaming, sports, real estate, and art, and so on. Each of these avenues offer new opportunities for creators, collectors, and investors.</p>



<p>As the market for utility NFTs continues to grow and evolve, it is clear that NFTs are here to stay and will play a significant role in the future of digital ownership and commerce. With their unique benefits of decentralization and security, non-fungible tokens are poised to revolutionize the way we think about digital assets and ownership.</p>


NFT Utility: 10 Outstanding Utility NFT Projects

In-depth Guide To Blockchain Scalability


<p>Non-fungible tokens (NFTs) have risen in popularity in recent years, establishing a new market for digital assets. They have been used to represent everything from artwork to virtual real estate, with sales totaling millions of dollars. As the use of non-fungible tokens is expanding, so does the potential for AI NFT to improve and support this sector. </p>



<p>This article will look at how AI can be used to create NFTs, as well as verify and authenticate them, anticipate and analyze them, and personalize and recommend them.</p>



<h2>What is AI NFT?</h2>



<p>AI NFT is basically an integration of AI (Artificial Intelligence) with NFTs (Non-fungible tokens). This is a type of non-fungible token, also known as AI-enabled Non-Fungible Tokens. It can be said that this is a future technology where AI is employed to create non-fungible tokens.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="585" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/AI-NFT-1024x585.jpg" alt="ai generated nft" class="wp-image-5840" srcset="https://3.111.63.208/wp-content/uploads/2023/05/AI-NFT-1024x585.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/AI-NFT-300x171.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/AI-NFT-768x439.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/AI-NFT-1536x877.jpg 1536w, https://3.111.63.208/wp-content/uploads/2023/05/AI-NFT-2048x1170.jpg 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p><strong>To understand this better, let us see what AI represents:</strong></p>



<p>Artificial intelligence is an advanced branch of computer science that simulates human intelligence with the help of machines/computer systems. This sophisticated technology can help in various tasks, such as problem-solving, decision-making, and learning, which is natural to the human mind.</p>



<p>AI has been part of our everyday lives for a decade, and it is evolving quicker now. Apart from its various use cases that dominate the world today, AI today can also be seen in the NFT sector. For instance, AI-generated art is one of the significant contributions of Artificial Intelligence to the NFT sector. In fact, it has created a buzz amongst numerous NFT creators and investors.</p>



<p>Numerous initiatives are eager to integrate AI models into non-fungible tokens. For example, Generative Adversarial Networks (GANs) are AI models that help generate content automatically after training with a set of suitable data. As a result, this innovation is well-suited to combining with <a href="https://upyo.com/en/post/nft-utility/">non-fungible tokens for good utility</a>.</p>



<p>Coming to NFTs, we are already familiar that they are nothing but virtual assets that employ blockchain technology to validate their authenticity and determine their ownership. Although non-fungible tokens are unique, most of them are static and do not interact or communicate with the user. They can be used to represent various types of digital media, including images, videos, music, and more.</p>



<p>Furthermore, they can also be used as proof of ownership of the underlying asset so that its authenticity and provenance can be easily verified at any time.</p>



<p>In contrast, NFTs generated by AI possess the ability to autonomously generate fresh content and offer dynamic experiences, owing to their learning capabilities. With increased exposure to particular users or environments, these digital assets can accumulate and generate greater amounts of data.</p>



<h2>How can it be used?</h2>



<p>AI can be used in a number of ways to enhance and support the use of NFTs (non-fungible tokens).</p>



<h3><strong>Creation of NFT</strong></h3>



<p><strong> </strong>AI algorithms can be employed to create unique and original digital assets that can be minted as non-fungible tokens. This can include generating images, music, and other forms of media. By using AI to create NFTs, artists, and creators can streamline the process of content creation and produce them in large.</p>



<h3><strong>Verification and Authentication</strong></h3>



<p>Artificial Intelligence can also be utilized to validate the authenticity of non-fungible tokens. By analyzing the blockchain data associated with an NFT, AI algorithms can identify fraudulent non-fungible tokens and prevent them from being sold. This helps to <a href="https://upyo.com/en/post/nft-security">protect buyers and ensure that NFTs maintain their value</a>.</p>



<h3><strong>Prediction and Analysis</strong></h3>



<p>AI can be used to predict the value of NFTs based on factors such as historical sales data, market trends, and social media sentiment. This can help buyers and sellers make more informed decisions about when to buy, sell, or hold NFTs.</p>



<h3><strong>Personalization and Recommendation</strong></h3>



<p>AI algorithms can be used to personalize and recommend NFTs to individual users based on their interests and purchasing history. This can help increase engagement and sales in the NFT market by making it easier for users to discover and purchase NFTs relevant to their interests.</p>



<p>Overall, AI can help streamline the creation and verification of NFTs and provide valuable insights and recommendations to buyers and sellers in the NFT market.</p>



<h2>AI NFTs Projects</h2>



<p>Here are some AI NFTs (Non-Fungible Tokens) projects:<strong> </strong></p>



<h3><strong>Artion</strong></h3>



<p>This AI-powered art investment platform uses NFTs to create a transparent and secure way for investors to buy and sell artworks.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/hhhhhhhnft-1024x576.jpg" alt="Artion AI NFT" class="wp-image-5832" srcset="https://3.111.63.208/wp-content/uploads/2023/05/hhhhhhhnft-1024x576.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/hhhhhhhnft-300x169.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/hhhhhhhnft-768x432.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/hhhhhhhnft.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>ArtBreeder</strong></h3>



<p>This web-based platform uses AI algorithms to generate unique artworks, which can be minted as NFTs and sold on blockchain marketplaces.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/ArtBreeder-AI-NFT-1024x576.jpg" alt="ArtBreeder AI NFT" class="wp-image-5833" srcset="https://3.111.63.208/wp-content/uploads/2023/05/ArtBreeder-AI-NFT-1024x576.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/ArtBreeder-AI-NFT-300x169.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/ArtBreeder-AI-NFT-768x432.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/ArtBreeder-AI-NFT.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>AIVA</strong></h3>



<p>This AI-powered music composer can create original music tracks, which can be minted as NFTs and sold on blockchain marketplaces.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="495" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/aiva-AI-NFT-1024x495.png" alt="AIVA AI NFT" class="wp-image-5834" srcset="https://3.111.63.208/wp-content/uploads/2023/05/aiva-AI-NFT-1024x495.png 1024w, https://3.111.63.208/wp-content/uploads/2023/05/aiva-AI-NFT-300x145.png 300w, https://3.111.63.208/wp-content/uploads/2023/05/aiva-AI-NFT-768x371.png 768w, https://3.111.63.208/wp-content/uploads/2023/05/aiva-AI-NFT.png 1165w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>Alethea AI</strong></h3>



<p>This AI platform creates virtual beings that can be minted as NFTs and used in gaming, social media, and other applications.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/Alethea-AI-1024x538.png" alt="Alethea AI" class="wp-image-5835" srcset="https://3.111.63.208/wp-content/uploads/2023/05/Alethea-AI-1024x538.png 1024w, https://3.111.63.208/wp-content/uploads/2023/05/Alethea-AI-300x158.png 300w, https://3.111.63.208/wp-content/uploads/2023/05/Alethea-AI-768x403.png 768w, https://3.111.63.208/wp-content/uploads/2023/05/Alethea-AI.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>AI-generated virtual real estate</strong></h3>



<p>This is similar to Decentraland and Somnium Space, which allows users to buy and sell virtual real estate using NFTs. AI-generated virtual real estate can be created and sold in these worlds.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/AI-generated-virtual-real-estate-1024x538.png" alt="AI-generated virtual real estate" class="wp-image-5836" srcset="https://3.111.63.208/wp-content/uploads/2023/05/AI-generated-virtual-real-estate-1024x538.png 1024w, https://3.111.63.208/wp-content/uploads/2023/05/AI-generated-virtual-real-estate-300x158.png 300w, https://3.111.63.208/wp-content/uploads/2023/05/AI-generated-virtual-real-estate-768x403.png 768w, https://3.111.63.208/wp-content/uploads/2023/05/AI-generated-virtual-real-estate.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>GANksy</strong></h3>



<p>This AI-powered project generates unique artwork in the style of the street artist Banksy. The artworks can be minted as NFTs and sold on blockchain marketplaces.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/GANksy-AI-1024x538.jpg" alt="GANksy AI" class="wp-image-5837" srcset="https://3.111.63.208/wp-content/uploads/2023/05/GANksy-AI-1024x538.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/GANksy-AI-300x158.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/GANksy-AI-768x403.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/GANksy-AI.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>XAIN</strong></h3>



<p>This decentralized AI platform uses NFTs to create secure, privacy-preserving machine learning models that individuals and organizations can use.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="708" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/XAIN-AI-1024x708.jpg" alt="XAIN AI" class="wp-image-5838" srcset="https://3.111.63.208/wp-content/uploads/2023/05/XAIN-AI-1024x708.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/05/XAIN-AI-300x208.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/05/XAIN-AI-768x531.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/05/XAIN-AI.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>My Metaverse</strong></h3>



<p>This AI-powered project allows users to create and customize their virtual avatars, which can be minted as NFTs and used in blockchain-based virtual worlds.</p>



<p>These are just a few examples of the many AI NFTs projects that are currently being developed and launched on blockchain platforms.</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="600" height="270" src="https://adminblog.upyo.io/wp-content/uploads/2023/05/My-Metaverse-AI.jpg" alt="My Metaverse AI" class="wp-image-5839" srcset="https://3.111.63.208/wp-content/uploads/2023/05/My-Metaverse-AI.jpg 600w, https://3.111.63.208/wp-content/uploads/2023/05/My-Metaverse-AI-300x135.jpg 300w" sizes="(max-width: 600px) 100vw, 600px" /></figure>



<h2>Conclusion</h2>



<p>Al or Artificial Intelligence is bringing new innovation to the world, and the NFT sector is no exception to it. One can see that it has great potential to bring about a revolution in any sector. As discussed in this article, AI can help NFTs a lot, and one can see numerous projects that support this integration.</p>


Unlock Creativity with AI NFTs

Metaverse


<p>Can technology enhance the RPG game and make it much better? Yes, it can! The introduction of Metaverse was just the beginning of offering an immersive experience to users. However, today with the evolution of technology, one can see endless possibilities and potential in the virtual world.</p>



<p>One such grand offering is the Otherside Metaverse, a whole new world filled with adventure.</p>



<p>This article will explain what the Otherside Metaverse is and how it is different from Metaverse.</p>



<h2>Otherside Metaverse Explained</h2>



<p>It is a three-dimensional digital world venture that is similar to Metaverse projects, such as Sandbox, Decentraland, and <a href="https://upyo.com/en/post/metaverse-platforms">other Metaverse platforms</a>. The objective behind the creation of this project is to offer an immersive experience and interactive experience to the users and also give them an opportunity to users to shape their experiences.</p>



<p>This multiplayer game was created by Yuga Labs and is said to be one of the most sought-after projects due to its gamification model (MMORPG model). Moreover, this game has a deep association with the BAYC project. In fact, Otherside Metaverse marks the entry of BAYC and MAYC founders into the metaverse space.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2022/08/WhatsApp-Image-2022-08-29-at-8.42.10-PM-1-1024x538.jpeg" alt="BAYC otherside metaverse" class="wp-image-913" srcset="https://3.111.63.208/wp-content/uploads/2022/08/WhatsApp-Image-2022-08-29-at-8.42.10-PM-1-1024x538.jpeg 1024w, https://3.111.63.208/wp-content/uploads/2022/08/WhatsApp-Image-2022-08-29-at-8.42.10-PM-1-300x158.jpeg 300w, https://3.111.63.208/wp-content/uploads/2022/08/WhatsApp-Image-2022-08-29-at-8.42.10-PM-1-768x403.jpeg 768w, https://3.111.63.208/wp-content/uploads/2022/08/WhatsApp-Image-2022-08-29-at-8.42.10-PM-1.jpeg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>Blockchain technology acts as a base for this virtual world venture. Furthermore, this virtual environment is interconnected and facilitates communication (plus voice chat) between ten thousand players simultaneously with the help of avatars.</p>



<p>Users can create and customize their own avatars, which can be used to explore different virtual environments, attend events, and interact with other users. One of the key features of the Otherside Metaverse is the creation of digital assets, such as <a href="https://upyo.com/en/post/metaverse-real-estate">virtual real estate</a>, clothing, and other items.</p>



<p>These digital assets can be bought and sold using cryptocurrency, which is the primary means of exchange within the Metaverse. The ownership and transfer of digital assets are recorded on the blockchain, providing a transparent and secure way of managing assets.</p>



<p>The Otherside Metaverse is also designed to be interoperable with other blockchain-based platforms and applications, allowing for seamless integration with other digital ecosystems. This simply means that users can get their digital assets from other platforms into this platform and vice versa.</p>



<h2>Otherside Metaverse: Explain its working</h2>



<p>To understand the workings of the Otherside Metaverse, one must first learn about its major components, such as APE and Otherdeed non-fungible tokens.</p>



<p><strong>APE: </strong>ApeCoin, or simply APE, is a Bored Ape Yacht Club-affiliated cryptocurrency with various functionalities. It was developed by Yuga Labs on blockchain and was envisioned to back decentralized Web3 development. Initially, APE was distributed to everyone who possessed BAYC or MAYC non-fungible tokens.&nbsp;</p>



<p>Additionally, users who owned these crypto tokens were given the right to vote (on improvement proposals) and govern the community. Apart from this, users can enjoy other exclusive advantages related to ApeCoin.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2023/04/ApeCoin-1024x576.png" alt="Otherside Metaverse explained" class="wp-image-5599" srcset="https://3.111.63.208/wp-content/uploads/2023/04/ApeCoin-1024x576.png 1024w, https://3.111.63.208/wp-content/uploads/2023/04/ApeCoin-300x169.png 300w, https://3.111.63.208/wp-content/uploads/2023/04/ApeCoin-768x432.png 768w, https://3.111.63.208/wp-content/uploads/2023/04/ApeCoin-1536x864.png 1536w, https://3.111.63.208/wp-content/uploads/2023/04/ApeCoin.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p><strong>Otherdeed:</strong> Also known as Otherside land non-fungible tokens, it was initially launched as 55,000 virtual plots in the Otherside Metaverse and forms an essential part of this ecosystem. These plots include various terrains or types of land that the users can discover. Some of the terrains include glaciers, lava-laden forts/castles, psychedelic environments, and so on.</p>



<p>These are dynamic in nature and include diverse game components in it. In fact, each Otherside land non-fungible token possesses a set of resources and lends a different metaverse experience to the user.</p>



<p>Furthermore, the dynamic nature of these non-fungible tokens enables them to have different traits per user activity. In other words, the traits of Otherside land NFTs change with changing using activities.</p>



<p>Additionally, this aspect helps in including and removal of assets from the digital plots easily. Therefore, one can say that these non-fungible tokens form a base for a secondary marketplace within the Metaverse.</p>



<p>There are 5 basic traits of the Otherside Metaverse, of which two are constant as the metaverse substrate. Here are the five traits:</p>



<ul>
<li>Sediment</li>



<li>Environment</li>



<li>Artifact</li>



<li>Resources</li>



<li>Koda</li>
</ul>



<p>Here, the sediment and environment represent the natural surroundings of the plot and also give a description of the nature of the plot. Koda and artifacts, however, are scarce assets that have the potential to boost the value of these plots. Resources are dynamic and exist in the environment; they can be added or removed from the plot.</p>



<p>While APE and Otherdeed NFTs are the two essential components of the Otherside Metaverse, there are other vital elements, such as NFT characters and Kodas.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2023/04/NFT-characters-and-Kodas-1024x576.jpg" alt="NFT characters and Kodas" class="wp-image-5600" srcset="https://3.111.63.208/wp-content/uploads/2023/04/NFT-characters-and-Kodas-1024x576.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/04/NFT-characters-and-Kodas-300x169.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/04/NFT-characters-and-Kodas-768x432.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/04/NFT-characters-and-Kodas.jpg 1500w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p><strong>NFT Characters: </strong>As we already know that Otherside Metaverse is a virtual environment built for gaming purposes; thus there is huge scope for diverse playable characters.</p>



<p><strong>Koda: </strong>As mentioned above, these are rare assets and are a set of the latest NFT characters that have a vital role. They are 10,000 rare &#8216;race of celestials&#8217; that possess unique traits and have a high value in the Metaverse. </p>



<p>The information on Kodas is somewhat secret and remains somewhat of a mystery. However, going by trailer and pitch deck details, one can deduce that they are the &#8216;Primal beings&#8217; who usher us into the ‘Otherside.’</p>



<p><em><strong>According to the lore:</strong></em></p>



<p>Kodas channeled their cosmic energy into transforming the last microverse into &#8220;our dimension.&#8221; This microverse is known as the Otherside. Not wanting the Otherside to be barren and willing to go to any length to keep the universe in balance, the Kodas drew bored apes and other NFTs into the Metaverse. One can find the following NFTs in the flying submarine/spaceship in the trailer:</p>



<ul>
<li>Cryptoad</li>



<li>CryptoPunks</li>



<li>Meebits</li>



<li>MAYC – Mutant Ape Yacht Club</li>



<li>World of Women</li>
</ul>



<p>It is difficult to explain how the Otherside Metaverse works; however, by knowing how each component works in this ecosystem, you&#8217;ll get a brief idea of how it works.</p>



<h3>How it&#8217;s different from the usual Metaverse?</h3>



<p>Both the Otherside Metaverse and Metaverse offer immersive virtual experiences. However, they differ in their underlying technology, governance structure, and community features. The Otherside Metaverse focuses on blockchain technology, decentralized ownership, and democratic decision-making, while the Metaverse focuses on immersive gameplay, virtual economies, and socializing with others.</p>



<p>To understand how the Otherside Metaverse differs from others, one must first examine how their virtual lands &#8216;Otherdeeds&#8217; are classified:</p>



<p><strong>Interesting storylines:</strong> One of the fascinating aspects of Otherside is the folklore around Koda. The Kodas are accountable for taking us to the Otherside Metaverse, and one must be careful in that environment. The rest of the information about Kodas is still a mystery and has not been revealed.</p>



<p><strong>Various land perks: </strong>There is a diverse range of plots available in the Otherside Metaverse. In fact, Otherdeeds have 5 various arenas, such as:</p>



<ul>
<li>Cosmic dream</li>



<li>Infinite expanse</li>



<li>Chemical goo</li>



<li>Rainbow atmos</li>



<li>Biogenic swamp</li>
</ul>



<p>Each of these lands has unique aspects and resources that are related to it and also includes distinct artifacts.</p>



<p><strong>Open data kits:</strong> Also known as ODK, these kits help users allow users to create and expand their plots on the platform. One can argue that it is a great opportunity to create unique lands or plots. Furthermore, users can also customize their avatars along with games, environments, and other features that shape their experience.&nbsp;</p>



<p><strong>$APE Coin:</strong> The holders of this coin own special rights and also possess the authority to vote and make a decision on various aspects, such as the allocation of funds, establishing rules, and so on. Additionally, the owners can also get some utilities and access to special features.</p>



<p><strong>Partnership with improbable: </strong>The Otherside Metaverse, which is linked to the M2 Network, allows users to create customized avatars that assist them in gaining new experiences. Furthermore, this partnership enables thousands of users to play simultaneously.</p>



<h2>Conclusion</h2>



<p>The Otherside metaverse is a brand new metaverse platform that has been associated with the Bored Ape Yacht Club ecosystem. This platform aims to provide a superior game experience to the players with the help of powerful tools. As a result, one can look forward to having new experiences and adventures on this platform.</p>



<p>However, one must note that this platform is still in its infancy, and detailed information about its workings and components is not known. The promotions by the founders, however, are gaining a lot of traction and promising favorable prospects for its growth.</p>


Otherside Metaverse: How Different It Is From Metaverse?

Web 3.0


<p>How secure are your identity credentials in this internet era? The answer is decentralized identity. Today, virtual identity is interrelated through various online applications and services, and your information is no longer private. Service providers and various other organizations control your digital personal information and have complete access to it without your interference.</p>



<p>Moreover, people nowadays grant permission to various apps to access their digital information, which makes it hard for them to manage their data. Additionally, this kind of centralized framework is prone to cyber-attacks too. Thus, to address all these issues, users must have control over their information to know where and how it is shared.</p>



<p>This can happen if a decentralized system comes into play. This article will look into the basics of decentralized identity blockchain and decentralized identity foundation.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="717" src="https://adminblog.upyo.io/wp-content/uploads/2023/04/decentralized-identity-1024x717.jpg" alt="decentralized identity foundation" class="wp-image-5516" srcset="https://3.111.63.208/wp-content/uploads/2023/04/decentralized-identity-1024x717.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/04/decentralized-identity-300x210.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/04/decentralized-identity-768x538.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/04/decentralized-identity.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2>Decentralized Identity: What exactly is it?</h2>



<p>In short, this is a type of identity that is independent of any central entity or third parties. It is also known as a self-sovereign or self-owned identity that facilitates the trusted exchange of information. This is an identity management model that offers people complete governance over their information/data, and thus, it is also called an independent identity.</p>



<p>In a way, this is seen as an upcoming Web3 concept with a trusted structure/framework embodying a particular methodology used for identity and access. Thus, users can use this framework to create, handle, and govern their ‘Personally identifiable information (PII)’ on their own without any interference from a central authority (certification authority or registry).</p>



<p>SSI, or Self-sovereign identity, forms the core idea of this framework and pertains to distributed database usage to govern the private virtual credentials. This kind of identity management system comprises digital wallets which help users record and save their various <a href="https://upyo.com/en/id">ID information securely</a>.</p>



<p>This concept is different from the traditional identity management framework, where a centralized entity manages and controls various sets of identities that are spread across numerous platforms.</p>



<p>SII has three major elements &#8211; blockchain, VC or verifiable credentials, and DID or decentralized identifiers.</p>



<h3><strong>Blockchain</strong></h3>



<p>A decentralized database (virtual) or, in other words, a digital ledger that records transactions. It is a distributed system that is spread across a network or a mesh of computers that record information or data in a secure way so that it is hard to change or hack it.</p>



<h3><strong>Verifiable credentials</strong></h3>



<p>These are nothing but authenticated credentials that are fraud-proof and secured cryptographically. It makes use of SSI to secure the information of individuals. These are usually information or, in other words, paper credentials like licenses, passports, bank accounts, and also digital credentials.</p>



<h3><strong>Decentralized identifiers</strong></h3>



<p>This is a brand new category of identifier that lets individuals have a cryptographically attestable, decentralized digital identity. These identifiers are usually created and owned by individuals without the inference of any organization. They can be related to an individual, organization, data models, abstract entities, and many more, as decided by the DID controller. </p>



<p>Apart from these three elements, there are other components &#8211; holder, issuer, verifier, and wallets.</p>



<h2>Differences between decentralized and centralized identity</h2>



<h3><strong>Centralized identity</strong></h3>



<p>Personal information is under the control of a centralized organization or institution that owns and manages it.</p>



<p>Personal information can be shared, stored, and collected without the permission or knowledge of the users&#8217;.</p>



<p>There&#8217;s a heightened threat of leakage of data as the information gets stored in a centralized framework.</p>



<h3><strong>Decentralized identity</strong></h3>



<p>Personal information is completely under the control of users who also own them.</p>



<p>Personal information is shared with other sources with user permission.</p>



<p>Reduced risk of a vast data intrusion as the information is stored in digital wallets.</p>



<h2>Significance of decentralized identity</h2>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="585" src="https://adminblog.upyo.io/wp-content/uploads/2023/04/decentalized-identity-2-1024x585.jpg" alt="decentralized identity blockchain" class="wp-image-5517" srcset="https://3.111.63.208/wp-content/uploads/2023/04/decentalized-identity-2-1024x585.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/04/decentalized-identity-2-300x171.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/04/decentalized-identity-2-768x439.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/04/decentalized-identity-2-1536x878.jpg 1536w, https://3.111.63.208/wp-content/uploads/2023/04/decentalized-identity-2-2048x1170.jpg 2048w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>This type of identity matters a lot as it assists individuals and institutions in communicating with each other in a secure and apparent manner. In short, this type of identity gives users control over their personal credentials.</p>



<p>The decentralized, ciphered blockchain-based wallets are the foundation of this type of identity. In fact, the wallet along with special apps are used by the users to:</p>



<ul>
<li>Generate decentralized identifiers</li>



<li>Save PII</li>



<li>Handle VCs</li>
</ul>



<p>This framework eliminates the use of third parties, which happens when we use a centralized identity framework. Also, as discussed above, the wallets used in the decentralized framework are encrypted. The wallets can be accessed through non-phishable cryptographic keys instead of passwords. The cryptographic keys will include public and private keys, each serving a distinct purpose. The private key is stored in the wallet, and it is required for the authentication process.</p>



<p>The decentralized wallets secure users&#8217; information and their communication in addition to performing a transparent authentication process.</p>



<h2>Advantages of decentralized identity:</h2>



<h3><strong>Better user control</strong></h3>



<p>Improves and lends control to users with respect to identifying information. A centralized authority or third parties is not required to verify decentralized identifiers and attestations.</p>



<h3><strong>Amplified security</strong></h3>



<p>The blockchain technology used in the decentralized identity framework enhances the security of the information and reduces the risk of identity thefts and data breaches.</p>



<h3><strong>Tamper-proof verification</strong></h3>



<p>This framework offers a seamless and trustworthy method to verify and handle user credentials, thereby helping prevent fraud or scams to a great extent.</p>



<h3><strong>Improved privacy</strong></h3>



<p>Users will get complete control over their credentials, and only they have the power to share their information with others. Furthermore, it decreases the risk of censorship and surveillance.</p>



<h3><strong>Interoperability</strong></h3>



<p>There is no need for the users to create multiple identities since decentralized identity supports interoperability. Users can access and share their information across various platforms or applications easily.</p>



<h2>Use cases of decentralized identity</h2>



<p>Decentralized identity has numerous use cases, such as:</p>



<h3><strong>KYC authentication</strong></h3>



<p>Usually, authentication or attestation is necessary for various services and applications, like driving licenses, passport, bank accounts, and so on. However, authentication for all these services is done through a centralized identity framework with a centralized service provider managing the information.</p>



<p>The problem with this system is that the information stored here can be compromised, and also the service providers cannot verify the authenticity of the attestation. This problem can be solved by decentralized identity as it bypasses the conventional KYC process and instead employs verifiable credentials for authentication. This helps save costs in identity management and reduces the use of fake documents.</p>



<h3><strong>Login help</strong></h3>



<p>Logins usually require passwords for authentication which does have its own share of flaws and weaknesses. However, a decentralized identity framework replaces passwords with decentralized authentication where the service providers provide attestations that can be stored in an Ethereum wallet.</p>



<p>Apart from these, decentralized identity has other use cases, such as Voting and online communities and Anti-Sybil protection.</p>



<h2>How does decentralized identity work?</h2>



<p>The decentralized identity consists of the following components:</p>



<p><strong>Digital wallet:</strong> Helps create a decentralized identity and control their access to the service providers.</p>



<p><strong>Owner: </strong>This is the individual who uses a wallet to create a decentralized identity and gets verifiable credentials in return.</p>



<p><strong>Issuer: </strong>This is someone who issues attestable credentials (identity details) using their private key.</p>



<p><strong>Verifier:</strong> This is someone who verifies the credentials and reads the public decentralized identity of the issuer on the blockchain.</p>



<p><strong>Blockchain:</strong> One of the core components of a decentralized identity framework, it is a distributed ledger that helps in the framework&#8217;s functioning.</p>



<p><strong>Service providers: </strong>This is an application that utilizes DID to accept authentication. It gets through the blockchain to check for the identity that was shared by the user.&nbsp;</p>



<p><strong>Decentralized identifier:</strong> This is a unique or distinct identifier that includes various information, such as service endpoints, verification details, and public keys.</p>



<p>The decentralized wallet based on blockchain technology forms the base for a decentralized identity framework. Users employ the wallets to generate their decentralized identifiers and get their unique/own digital identity, save PII, and govern VCs. This is the opposite of centralized systems, where intermediaries manage the identity information on various sites.</p>



<p>Once the identity is generated, cryptographic keys (public and private) with respect to the identity are also get created. Next, the wallet sends a registration payload to the blockchain along with a public key, upon which the blockchain creates a unique identifier for the wallet. Furthermore, the private key that got generated will remain with the user&#8217;s wallet and helps with the authentication.</p>



<p>The wallets function as a prime entity that assists users in providing and revoking access to identity details from a single source and makes the process easier and quicker. Moreover, the information in the wallet is validated by multiple trustworthy sources to ensure it is accurate.</p>



<p>For instance, issuers like government organizations, banks, universities, and other parties validate digital identities. Thus, users can use the virtual wallet to exhibit their identity proof to any third party.</p>



<h2>Authentication steps using blockchain and decentralized identity</h2>



<h4><strong>Eligibility for authentication</strong></h4>



<p>The verified identity information, such as name, age, address, employment information, or bank account information, is stored in the identity wallet to help in gaining trust and eligibility for the authentication process.</p>



<h4><strong>Key Publishing</strong></h4>



<p>The public key related to the private key is published on the blockchain with the help of a decentralized identity mechanism.</p>



<h4><strong>Decentralized identifier generation</strong></h4>



<p>Once the blockchain gets the public key, the identity wallet will receive DID (decentralized identifier).</p>



<h4><strong>Authentication initiation</strong></h4>



<p>The DID is shared with the service provider by the user for authentication.</p>



<h4><strong>Information matching</strong></h4>



<p>The service provider looks up the blockchain to locate the DID shared by the user. If there&#8217;s a match, the details associated with the DID are shared with the application.</p>



<h4><strong>Authentication completion</strong></h4>



<p>The user uses the private key to sign the respective transaction and complete the authentication process.</p>



<h4><strong>Authentication confirmation</strong></h4>



<p>Once the authentication process gets completed successfully, the service provider confirms the action and permits the user to perform the tasks.</p>



<h2>The future of decentralized identity</h2>



<p>Although decentralized identity is still in its nascent stage, it has the potential to revolutionize the identity management system for good. In fact, Web 3.0 can benefit from decentralized identity to a great extent as both have similar goals — to provide complete information privacy, improve security, and give control over self-information and other details.</p>



<p>The evolution of the internet is making people move towards decentralization; people want control over their personal information and other data. Thus, a decentralized identity is an excellent solution for everyone who wants to keep their information private without the worry of third parties trying to access it. Here are some of the ways in which decentralized identity can shape the future of Web 3.0:</p>



<ul>
<li><strong>Data ownership:</strong> Decentralized identity and blockchain technology can effectively remove the interference of third parties to modify or erase the information of the user. Furthermore, the ownership or control of digital identity will remain completely with the user. It must also be noted that blockchain will have a record of the information on its decentralized network, which can be accessed by the user and shared with other parties by them.</li>
</ul>



<ul>
<li><strong>Universal Identity: </strong>In the case of a centralized system or framework, the issuers will usually have control over the users&#8217; login credentials. Moreover, just one service is employed to get through various other information on the internet, which results in targeted advertisements that are of no interest to the user.</li>
</ul>



<p>However, this is eliminated with decentralization, where users can handle their data or credentials without relying on external parties.</p>



<ul>
<li><strong>Resist bots:</strong> It is well-known that today bots are placed in numerous social networks to post automated content on behalf of organizations or individuals. This can be irritating most of the time and hamper the user experience. One simply cannot know whether one is interacting with a bot or a human easily. However, this issue can be tackled with the help of decentralized identity.</li>
</ul>



<p>DID provides a sense of trust to the user that a specific post or individual that you are interacting with is a real human, and thus the content is from a human. Furthermore, DID also resists the bots from taking over the internet and lets real people interact and contribute to the internet.</p>



<p>Here are some industries that can benefit from decentralized identity and blockchain technology, such as</p>



<ul>
<li>Insurance</li>



<li>Finance and Banking</li>



<li>Transport and Logistics</li>



<li>Retail</li>



<li>Healthcare</li>



<li>Marketing and Advertising</li>
</ul>



<h2>Conclusion</h2>



<p>There is no doubt that decentralized identity will revolutionize the way identity information is stored and managed. Although it is still nascent, experts have opined that it will provide numerous benefits, as discussed in this article. One can easily conclude that the decentralized identity will help users get back their control over their identity information.</p>



<p>Moreover, users will not need any centralized entity or third party to validate their identity. Instead, users can authenticate their information without any interference.</p>


Significance Of Decentralized Identity And Its Working


<p>Do you know what WAGMI or NGMI means in NFT slang? If you are new to the NFT sector, chances are that you may have encountered certain words or terminologies used regularly in social media. While it can be confusing to understand these words, it is also necessary to learn them to navigate through the NFT space.</p>



<p>This article will introduce you to a basic NFT dictionary that will help you understand the NFT market better and make your presence more meaningful in the industry. Whether you are an NFT buyer or seller, it is important to know these words.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2022/12/317998405_1512687459232697_4797904382247007660_n-1024x538.jpg" alt="nft dictionary" class="wp-image-2999" srcset="https://3.111.63.208/wp-content/uploads/2022/12/317998405_1512687459232697_4797904382247007660_n-1024x538.jpg 1024w, https://3.111.63.208/wp-content/uploads/2022/12/317998405_1512687459232697_4797904382247007660_n-300x158.jpg 300w, https://3.111.63.208/wp-content/uploads/2022/12/317998405_1512687459232697_4797904382247007660_n-768x403.jpg 768w, https://3.111.63.208/wp-content/uploads/2022/12/317998405_1512687459232697_4797904382247007660_n.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2>What&#8217;s The Meaning Of NFT Slang?</h2>



<p>NFT Slang or NFT terms are the common words or phrases that are frequently used in the NFT sector. Knowing these words helps you navigate the NFT space easily. For instance, consider a scenario where you do not know what NFT or <a href="https://upyo.com/en/post/expensive-bored-ape">BAYC means</a>. This can be inconvenient, as you will have no idea what is going on in this domain.</p>



<p>Moreover, the NFT industry is growing rapidly, and one must keep up with the changes and whatever additions the market is undergoing to stay relevant. In short, knowing NFT terminology is important if you are serious about the NFT industry.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2022/10/310436477_649512320137734_9195726767137462902_n-1024x538.jpg" alt="nft wording" class="wp-image-1886" srcset="https://3.111.63.208/wp-content/uploads/2022/10/310436477_649512320137734_9195726767137462902_n-1024x538.jpg 1024w, https://3.111.63.208/wp-content/uploads/2022/10/310436477_649512320137734_9195726767137462902_n-300x158.jpg 300w, https://3.111.63.208/wp-content/uploads/2022/10/310436477_649512320137734_9195726767137462902_n-768x403.jpg 768w, https://3.111.63.208/wp-content/uploads/2022/10/310436477_649512320137734_9195726767137462902_n.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2>NFT Slang Glossary </h2>



<p>Here are some of the basic and essential non-fungible token terminologies that help you understand what&#8217;s going on in the sector:</p>



<p><strong>1:1 Art:</strong> It is a distinct piece of artwork that comes in just a single edition. The cost of such artwork is usually expensive due to its uniqueness and rarity.&nbsp;</p>



<p><strong>Airdrop: </strong>This is a process of transferring non-fungible tokens or cryptocurrencies for free of cost to various addresses to entice early adopters of the initiative and reward them appropriately.</p>



<p><strong>ADA:</strong> It is a native currency of the Cardano blockchain network.</p>



<p><strong>AB:</strong> Refers to a non-fungible token platform, Art Blocks, which deals with generative non-fungible token art.</p>



<p><strong>AMA:</strong> Stands for &#8216;Ask me anything&#8217; and is majorly used by non-fungible token artists when introducing their ventures. This is viewed as an event, and generally, an NFT with numerous AMA events on Discord is regarded as an excellent non-fungible token.</p>



<p><strong>AFAIK:</strong> It stands for &#8216;As far as I know.&#8217;</p>



<p><strong>Alpha:</strong> The word is used when someone gets exclusive hands-on information that is not available in public.</p>



<p><strong>Ape in:</strong> Refers to the act of people rushing to purchase new non-fungible tokens or coins without conducting proper research. This is often seen as irresponsible conduct.</p>



<p><strong>Asset:</strong> It refers to tokens or digital collectibles.&nbsp;</p>



<p><strong>ATL/ATH:</strong> It simply refers to &#8216;All Time Low&#8217; and&#8217; All Time High,&#8217; representing failure or celebrating success.</p>



<p><strong>BTC: </strong>It is the short form for Bitcoin.</p>



<p><strong>Bot:</strong> It is nothing but automated software or algorithms that automatically publish projects and also answer questions sometimes.&nbsp;</p>



<p><strong>Bitcoin:</strong> It is one of the most popular cryptocurrencies.</p>



<p><strong>BTD:</strong> It stands for &#8216;Buy the dips&#8217; and is used when the value of a non-fungible token is low but on the rise. This word is used as a reassurance.</p>



<p><strong>BSC: </strong>It is the short form for Binance Smart Chain.</p>



<p><strong>Bullish:</strong> This word is mainly used when investors anticipate an increase or appreciation in the token&#8217;s value (in the near future).</p>



<p><strong>Burn/burning:</strong> This term refers to the destruction of the non-fungible token.&nbsp;</p>



<p><strong>Copy Cat:</strong> It refers to a knock-off project that copies another NFT project (probably a popular one).</p>



<p><strong>DAO: </strong>This stands for Decentralised Autonomous Organisation with no central entity to manage it. Instead, it is an organization of companies or projects that runs based on rules coded in smart contracts. Usually, these rules cannot be modified unless the <a href="https://upyo.com/en/post/dao-nfts">DAO members vote for them</a>.</p>



<p><strong>DeFi:</strong> It simply stands for &#8220;decentralized finance&#8221; and is different from traditional finance. To elaborate further, DeFi does not have a bank that governs your money; instead, it only has complete control over it.&nbsp;</p>



<p><strong>dApp:</strong> It means &#8220;decentralized application,&#8221; a software application that does not run a centralized server but partially on a distributed network/blockchain.</p>



<p><strong>Degen:</strong> It is a short form of &#8220;degenerate&#8221; and refers to NFT investors who invest in any non-fungible token without proper research.</p>



<p><strong>Delist:</strong> It refers to the cancellation process of the NFT listing for sale from an open market.</p>



<p><strong>Drop:</strong> It is used to announce a new NFT launch. Or in other words, it is used to say that a new digital collectible is going to be out soon.</p>



<p><strong>Diamond Hands:</strong> This term is used for people who do not hold or sell their holdings under market pressure or high volatility.</p>



<p><strong>DEX: </strong>It is a short form of Decentralized exchange where there are no third parties involved or central entity to govern transactions. Instead, it is a purely peer-to-peer transaction.</p>



<p><strong>Ded:</strong> It is a short form for &#8216;Dead,&#8217; which simply means the non-fungible token is dead.</p>



<p><strong>Discord:</strong> This is social media platform or, in other words, a group-chatting site for non-fungible token ventures and communities.&nbsp;</p>



<p><strong>DYOR:</strong> It stands for &#8216;Do Your Own Research,&#8217; which simply suggests conducting research before investing or buying a non-fungible token and ensuring the token is worth the investment.</p>



<p><strong>ETH:</strong> It stands for Ether, the native currency of the Ethereum blockchain.</p>



<p><strong>ERC-721:</strong> It is a token standard that is used in the creation of unique non-fungible tokens, which is different from ERC-20.</p>



<p><strong>Exchange:</strong> It refers to the platform where non-fungible tokens and cryptocurrencies are bought and sold with credit cards.</p>



<p><strong>Fiat:</strong> It is nothing but government-issued currencies (Euro, USD, etc.) that are not pegged to the price of commodities, such as gold or silver.</p>



<p><strong>Floor sweeping: </strong>It is the term usually used for a group of people or an individual who continuously purchases non-fungible tokens that are listed lowest price.</p>



<p><strong>Floor/Floor price:</strong> It is the lowest price of a non-fungible token and is fixed when a venture mints its tokens for the first time. Floor price or value is considered to analyze if a specific non-fungible token is gaining or losing value.</p>



<p><strong>Flipping:</strong> This term is used when you purchase non-fungible tokens in order to sell them when their value gets increased. It is associated with reselling with the aim of making a profit.</p>



<p><strong>FOMO:</strong> This general term stands for &#8216;Fear of missing out.&#8217; It refers to investment psychology, where people invest in numerous ventures even if they are new and do not have many details due to the irrational fear of missing out on good ventures.</p>



<p><strong>Gas:</strong> It refers to the fees (in native currency) that must be paid by the user to the network in order to perform transactions on it.</p>



<p><strong>GWEI:</strong> This is the measurement of gas fees and stands for nanoether (0.000000001 ETH).</p>



<p><strong>GMI:</strong> It stands for &#8216;Gonna make it&#8221; to give an idea about the future of any investments and whether they are giving high returns or not.</p>



<p><strong>HODL:</strong> Stands for &#8216;Hold on for dear life&#8217; and suggests holding an asset for a very long time, irrespective of its price.</p>



<p><strong>IRL: </strong>It stands for &#8216;In real life&#8217; and refers to the real world.</p>



<p><strong>IPFS:</strong> It is a P2P (peer-to-peer network) that is used for sharing and storing data on a distributed file system and stands for &#8216;Interplanetary File System.&#8217;</p>



<p><strong>KOL: </strong>It is the shortened form of &#8216;Key opinion leader&#8217; (social media influencer).</p>



<p><strong>LL: </strong>It stands for &#8216;Larva Labs,&#8217; which is popular for the CryptoPunks NFT collection.</p>



<p><strong>Mint:</strong> Minting is the word that is used to refer to the NFT creation process on the blockchain.</p>



<p><strong>Metaverse:</strong> It refers to the new version of the internet, Web 3.0.</p>



<p><strong>Mods:</strong> It is used to refer to the moderators of the Discord or Twitter channel.</p>



<p><strong>Moon:</strong> This word is used for the high valuation or high price of a non-fungible token or coin. For instance, whenever the value of an NFT goes up, we can say that the asset is &#8216;going to the moon&#8217; or &#8216;mooning.&#8217;</p>



<p><strong>Multisig:</strong> Stands for &#8216;multi-signature wallet,&#8217; and as the name suggests, this wallet requires multiple signatures to facilitate a transaction.</p>



<p><strong>Moonboy:</strong> It is used for someone who is fanatical about a non-fungible token venture.</p>



<p><strong>NFA:</strong> This is similar to DYOR and stands for &#8216;Not financial advice.&#8217;</p>



<p><strong>Noob:</strong> It is used for someone who is new to the non-fungible token sector and does not know much about the NFT market.</p>



<p><strong>NGMI:</strong> This is opposite to GMI and stands for &#8216;Not gonna make it&#8217; and is used for those people who make bad trading decisions.</p>



<p><strong>OG:</strong> This slang refers to &#8216;original&#8217; and stands for &#8216;Original gangster.&#8217; One may use this word for someone who is the original or originator.</p>



<p><strong>Paper hands:</strong> It is just the opposite of diamond hands and is used by people who sell their non-fungible tokens very fast without holding them for long periods of time.</p>



<p><strong>PFP</strong>: It means &#8216;Profile picture&#8217; or &#8216;Picture for proof.&#8217;</p>



<p><strong>P2E:</strong> It simply refers to &#8216;Play to earn&#8217; games.</p>



<p><strong>Rug/rug pull: R</strong>efers to the act when a team abandons its non-fungible token venture and runs away with the funds.</p>



<p><strong>Smart contract:</strong> It refers to a self-executing software program consisting of transaction details and other relevant information between buyer and seller.&nbsp;</p>



<p><strong>Shilling:</strong> This term is used when a person advertises or promotes a non-fungible token venture on social media as part of a marketing strategy.</p>



<p><strong>WAGMI:</strong> This is again similar to GMI and stands for &#8216;We all gonna make it,&#8217; hinting at possible future returns on investment.</p>



<p>These are some of the basic terminologies in the NFT sector that can help you in the crypto space. However, apart from these, there are phrases too.</p>



<h2>Conclusion</h2>



<p>Seeing so many words or terminologies floating in that NFT space can be daunting for a newbie. Although it sometimes sounds confusing, using NFT slang in non-fungible token-based communities can improve your knowledge about NFTs. This article consists of basic words that are prevalent in the crypto community. You can start understanding the words from this post and gain more knowledge as you spend more time in the NFT sector.</p>


The Ultimate NFT Slang Guide For Beginners


<p>Do you want to own non-fungible tokens but do not have enough money to actually purchase them? Are you one of those who feels that NFTs are expensive and you can never buy them? Well, we have good news for you! Go for NFT renting!</p>



<p>Yes, NFT renting is a concept that benefits people who want to experience how non-fungible token works. So, what exactly does renting non-fungible tokens mean? How can one borrow it? This article will shed light on these fundamental questions and help you understand this concept better.</p>



<h2><strong>What’s NFT Renting? </strong></h2>



<p>NFT renting basically refers to the procedure of renting a non-fungible token for a specific period using a <a href="https://upyo.com/en/post/nft-smart-contract">smart contract</a>. Usually, NFT owners rent their non-fungible tokens to interested parties who do not possess digital assets. There are non-fungible token markets that facilitate this transaction.</p>



<h3><strong>How does it work?</strong></h3>



<p>Typically, this renting process begins at a good rental platform or marketplace with a blockchain network supporting this process. The NFT holders list their non-fungible tokens on these sites so interested people can go through them. The non-fungible tokens will have basic details, such as the intended cost of the token per day and the duration that the owners want their NFT to be listed on the site.</p>



<p>Numerous blockchain networks support NFT renting, such as N3RP, Vera, UnitBox DAO, reNFT, Trava NFT, and much more.&nbsp;</p>



<p>Once the non-fungible token holder and the borrower agree on the cost, rent duration, and other aspects, they can embed these terms into a smart contract and initiate the transaction. The renter usually pays for the non-fungible token to the smart contract, and once the rent duration is completed, the smart contract returns the non-fungible token to the original holder.&nbsp;</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2022/09/Smart-Contract-1024x538.png" alt="rent nft" class="wp-image-1249" srcset="https://3.111.63.208/wp-content/uploads/2022/09/Smart-Contract-1024x538.png 1024w, https://3.111.63.208/wp-content/uploads/2022/09/Smart-Contract-300x158.png 300w, https://3.111.63.208/wp-content/uploads/2022/09/Smart-Contract-768x403.png 768w, https://3.111.63.208/wp-content/uploads/2022/09/Smart-Contract.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>There are two types of renting: collateral renting and collateral-less renting:</p>



<ul>
<li><strong>Collateral non-fungible token renting:</strong></li>
</ul>



<p>In this type of renting, the borrower offers collateral to the NFT holder to utilize their non-fungible token for a certain period. Furthermore, the borrower is supposed to pledge something that possesses a higher price than the borrowed non-fungible token to protect the owner’s interest.</p>



<p>Apart from this, the borrower must again pay a certain fee as rent for using the non-fungible token. Once the rent contract expires, the non-fungible token is given back to the original owner, and the pledged collateral is sent to the borrower. In case the borrower does not return the non-fungible token, the owner gets the collateral.&nbsp;</p>



<ul>
<li><strong>Collateral-less non-fungible token renting:</strong></li>
</ul>



<p>This type of renting is similar to collateral non-fungible token renting. However, as the name implies, no collateral is locked in this type of renting, and the borrower, instead of getting an original NFT, gets a wrapped NFT with the same characteristics as the real NFT. Experts opine that this renting minimizes the financial risk for the borrower and the lender. </p>



<p>Once the rent duration is completed, the wrapped non-fungible token is burned, and since the holder does not lend the NFT, it remains with the owner itself.&nbsp;</p>



<h2><strong>Why rent NFTs?</strong></h2>



<p>Renting NFTs is gaining momentum and confidence from NFT holders and investors across the globe. There are numerous reasons why an NFT owner rents an NFT, of which one of the significant reasons is that renting increases the value proposition of a non-fungible token. NFT renting is beneficial for both lender and borrower.</p>



<p>Non-fungible token renting opens up a new revenue stream for non-fungible token holders so that they earn passive income. It is known that non-fungible tokens offer some utilities, and it usually has a specific price. But it is also possible that sometimes, the owner may not want to utilize it, and in such cases, the NFT can be lent to others, and they can earn a side income. Know more about <a href="https://upyo.com/en/post/make-money-with-nft">making money from NFT</a>.</p>



<p>Furthermore, it is also a good opportunity for renters or borrowers as renting an NFT gives them a chance to experience the non-fungible tokens without having to purchase them. They can, in fact, use their utility for a specific time duration and reap its benefits.&nbsp;</p>



<p>Here are some common reasons borrowers rent an NFT:</p>



<h3><strong>Flexibility to use:</strong></h3>



<p>Sometimes, one may need to use a non-fungible token for a short duration, and in such cases, it is best to rent an NFT instead of buying one. </p>



<h3><strong>Expensive costs:</strong></h3>



<p>Some of the non-fungible tokens are expensive and hard to buy. However, people who cannot purchase such costly NFTs can get an experience of these tokens by renting without spending too much money.</p>



<h3><strong>Uncertainty about value:</strong></h3>



<p>NFT investors sometimes fear that the value of a specific non-fungible token may go down after they purchase it. Thus, in such cases, one may simply rent the non-fungible tokens for a short period.</p>



<h3><strong>A trial before purchase:</strong></h3>



<p>Renting NFTs offers a chance to try out the non-fungible tokens before actually purchasing them. This can be beneficial for everyone who wants to be sure before the purchase.</p>



<h3><strong>Insufficient space:</strong></h3>



<p>When a non-fungible token is purchased, it may need huge storage space. However, renting will not require such a thing. </p>



<h2><strong>How to make money from renting NFTs?</strong></h2>



<p>Renting non-fungible tokens helps its owner get passive income, and this trend is popular and receptive in the gaming community (play-to-earn games or move-to-earn). In fact, the GameFi industry is one of the leading sectors for non-fungible token renting.&nbsp;</p>



<p>Usually, the non-fungible tokens that are in demand and P2E NFT games are good choices for renting purposes. The normal non-fungible tokens that are in huge demand can be rented using one of the renting methods mentioned above.&nbsp;</p>



<p>Also, there are numerous <a href="https://upyo.com/en/post/nft-games">P2E games</a> where players must pay exorbitant fees or purchase high-priced non-fungible tokens to play the game and earn crypto through it. Thus, some of the game sites permit non-fungible token owners to rent some of their already-owned assets to new players. This helps the game to increase its active user base to a great extent. Moreover, this also helps NFT holders to earn rental fees and boost their earnings.</p>



<p>However, there are some other instances where the player has enough non-fungible tokens to start a game. However, they lack extra non-fungible tokens that can enhance their earnings. And these NFTs are exorbitant; thus, they can borrow non-fungible tokens again in such situations.</p>



<p>Apart from games, another site where rentals make sense is virtual plots. This is because buying Metaverse lands or virtual plots is pretty expensive. Additionally, renting out virtual or digital art is another option to make money. Digital artists can lend their artworks to people or art galleries and earn some rental fees through it.</p>



<h2><strong>Top NFT renting Platforms</strong> </h2>



<p>Numerous renting sites are popular for NFT renting. Here are some platforms that you can count on:</p>



<h3><strong>IQ Protocol</strong></h3>



<p>This site favors collateral-less renting and issues wrapped NFTs to the borrower. The smart contracts will have an expiration date or rent duration, which determines the period up to which the borrower can retain the wrapped non-fungible tokens. However, the original non-fungible token will remain with the owner.</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="875" height="492" src="https://adminblog.upyo.io/wp-content/uploads/2023/03/1_lg2FpztbRn786zjEeJArSg.png" alt="Iq Protocol for NFT Rentong" class="wp-image-4897" srcset="https://3.111.63.208/wp-content/uploads/2023/03/1_lg2FpztbRn786zjEeJArSg.png 875w, https://3.111.63.208/wp-content/uploads/2023/03/1_lg2FpztbRn786zjEeJArSg-300x169.png 300w, https://3.111.63.208/wp-content/uploads/2023/03/1_lg2FpztbRn786zjEeJArSg-768x432.png 768w" sizes="(max-width: 875px) 100vw, 875px" /></figure>



<h3><strong>reNFT</strong></h3>



<p>This site primarily facilitates renting non-fungible tokens and supports collateral-based renting. Usually, non-fungible token owners will list (upload) their NFTs on this site and establish a price for them. Anyone who is interested in borrowing the non-fungible tokens will thus have to submit a collateral equivalent to that price. Additionally, the owner will also fix the rental duration and rental fees.</p>



<p>The collateral will be returned to the borrower once the borrowed non-fungible token has been returned. However, if the borrower fails to do so, the owner may keep the collateral without returning it.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2023/03/reNFT-1024x576.jpg" alt="reNFT for renting NFT" class="wp-image-4898" srcset="https://3.111.63.208/wp-content/uploads/2023/03/reNFT-1024x576.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/03/reNFT-300x169.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/03/reNFT-768x432.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/03/reNFT.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h3><strong>UnitBox DAO</strong></h3>



<p>This is again a collateral-less renting platform that is based on DAO. A platform is a perfect place for people who are interested in P2E game NFT rentals, as it is a part of the GameFi sector. Borrowers may not pledge any collaterals to use non-fungible tokens on this site. </p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2023/03/UnitBox-DAO-1024x576.jpg" alt="UnitBox DA for nft renting " class="wp-image-4899" srcset="https://3.111.63.208/wp-content/uploads/2023/03/UnitBox-DAO-1024x576.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/03/UnitBox-DAO-300x169.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/03/UnitBox-DAO-768x432.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/03/UnitBox-DAO.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>Apart from these sites, there are other platforms that support NFT renting, such as Vera, Defy, Trava Protocol, and so on. One must thoroughly research the non-fungible tokens and the rental platforms before renting.</p>



<h2><strong>Conclusion</strong></h2>



<p>NFT renting is a relatively new concept and is still in its nascent stage. However, it is sure to evolve with time. In fact, there are some good NFT rental marketplaces where people rent NFTs to earn passive revenue. Renting NFTs will empower NFT holders and give a first-hand experience for those who cannot own non-fungible tokens</p>


NFT Renting: Understand The Two Types Of Renting

Top 30 NFT Podcasts To Follow in 2023


<p>When we talk about utilizing metaverse in education, some people think about the E-learning concept that originated in the 1990s. While online learning is a great idea that opened a new path in education, the metaverse is a much more evolved notion that has excellent potential to make education more engaging.</p>



<p>The Metaverse is the result of incredible technological innovation that has elevated the gaming experience to new heights. So, can such innovation help the education sector? Will this technology benefit students in a positive way?</p>



<p>This article will discuss how metaverse can be used in the education sector and its benefits.</p>



<h2><strong>What are the applications of metaverse technology in education?</strong></h2>



<p>Implementing metaverse technology in the education sector can provide numerous benefits to students and teachers. Despite its <a href="https://upyo.com/en/post/metaverse-games">popularity in VR gaming</a>, it was the 2019 Covid-pandemic that pushed the education sector to adopt the metaverse. Here are some ways to use this technology in the metaverse:</p>



<h3><strong>Virtual 3-Dimensional classrooms</strong></h3>



<p>Today, the world has evolved to accept online education. However, students feel a certain limitation in online education. This limitation can be missing interaction with friends and teachers. By using metaverse, we can address this issue along with others and bridge the gap between traditional and online education.</p>



<p>The introduction of 3-dimensional classrooms in a metaverse concept that’ll help in this regard. In these types of classrooms, students can interact with teachers, and in turn, teachers can conduct meetings.</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="1024" height="645" src="https://adminblog.upyo.io/wp-content/uploads/2023/03/3-Dimensional-classrooms.jpg" alt="metaverse for education" class="wp-image-4797" srcset="https://3.111.63.208/wp-content/uploads/2023/03/3-Dimensional-classrooms.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/03/3-Dimensional-classrooms-300x189.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/03/3-Dimensional-classrooms-768x484.jpg 768w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>Furthermore, since these classrooms are not restricted to a physical location, any student from any point of the world can join. A student can attend the virtual classes in their <a href="https://upyo.com/en/post/nft-avatars">virtual avatars</a>.</p>



<h3><strong>Digital learning</strong></h3>



<p>Although online education is not a new idea, metaverse has the potential to take virtual learning to another level. It provides an enriching atmosphere for learning and helps students to engage more in educational activities.</p>



<p>Additionally, it also offers a learning environment for students where they can implement their knowledge, conduct experiments, and even learn from failures. This type of 3-dimensional learning can be beneficial for students.</p>



<h3><strong>Virtual campus activities</strong></h3>



<p>This is one of the interesting applications where the metaverse technology organizes recreational activities, such as sports and cultural activities, in a digital space. With the integration of metaverse technology, students will be able to participate in various activities, such as music and art competitions, mathematics club, art festivals, and so on, virtually. Also, students can take a virtual tour of their college campus by sitting at home.</p>



<h3><strong>Interdisciplinary learning</strong></h3>



<p>One of the significant abilities of the metaverse is its support for interdisciplinary learning. Usually, in the traditional format, we hardly see anything like this, but the metaverse breaks the barrier among various subjects and blends them for immersive learning.</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="750" height="514" src="https://adminblog.upyo.io/wp-content/uploads/2023/03/Interdisciplinary-learning.jpg" alt="metaverse in education" class="wp-image-4798" srcset="https://3.111.63.208/wp-content/uploads/2023/03/Interdisciplinary-learning.jpg 750w, https://3.111.63.208/wp-content/uploads/2023/03/Interdisciplinary-learning-300x206.jpg 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>



<p>For instance, it’ll help instructors blend science with mathematics and provide a holistic learning experience to students. Additionally, it will also help explain real-world applications of numerous theories, which is normally not possible in a traditional method.</p>



<h3><strong>Creating simulating real-life situations</strong></h3>



<p>The metaverse makes learning immersive in the virtual world for students by simulating real-world scenarios. These simulations can be conducive to performing practical science experiments, displaying prototypes, or accessing a documentary video, like American Civil War.</p>



<p>This promising trend may pave the way for topic or subject-related three-dimensional spaces where students can enjoy learning. Furthermore, this type of environment is a plus for instructors or teachers as they can explain the concepts in a better way.</p>



<h3><strong>Virtual tours</strong></h3>



<p>This is an incredible and engaging way to incorporate metaverse in education. Just think if you can experience or travel to a place that you were just reading about. This is an impossible phenomenon in the real world, but it can be experienced with the help of the metaverse.&nbsp;Know more about <a href="https://upyo.com/en/post/how-to-enter-the-metaverse">how to enter the metaverse</a>.</p>



<p>Moreover, this type of tour doesn&#8217;t take much time; students can experience the place in mere seconds and get a solid idea about the place. Thus, the metaverse assists in broadening the worldview of students to a great extent.</p>



<h3><strong>Bringing awareness</strong></h3>



<p>Not only virtual tours or experiments but the metaverse can also assist in making students aware or cognizant of social issues. For instance, the issues such as climate change, pollution, or natural disasters can be shown to the students with the metaverse and inculcate humanitarian traits in them.</p>



<p>For example, showing a docu-drama or documentary on Africa’s famine or Malawi’s poverty can help students comprehend how natural calamities or social issues are affecting a country. This kind of activity helps students connect with such issues and make them empathetic.&nbsp;</p>



<h3><strong>People and events</strong></h3>



<p>Metaverse can act as a base to host great events where prominent people can share their knowledge and wisdom with students. Usually, any school or college event in the traditional learning environment is restricted to the physical location. Thus, if some popular thought leader is miles or countries away from the school, it is not possible to invite them.</p>



<p>But, with metaverse, one can host virtual meetings with anyone in the world. Apart from this, students can attend numerous other events, such as literary festivals, exhibitions, conferences, webinars, etc.,</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="538" src="https://adminblog.upyo.io/wp-content/uploads/2022/12/UPYO-BLOG-EVENT-1024x538.png" alt="NFT Art Gallery" class="wp-image-3356" srcset="https://3.111.63.208/wp-content/uploads/2022/12/UPYO-BLOG-EVENT-1024x538.png 1024w, https://3.111.63.208/wp-content/uploads/2022/12/UPYO-BLOG-EVENT-300x158.png 300w, https://3.111.63.208/wp-content/uploads/2022/12/UPYO-BLOG-EVENT-768x403.png 768w, https://3.111.63.208/wp-content/uploads/2022/12/UPYO-BLOG-EVENT.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>Here&#8217;s how certain subjects can use metaverse in their teaching</p>



<p><strong>Astronomy or geography:</strong> To create a realistic visual experience of our galaxy, in the case of astronomy, or layers of earth, in the case of a geography.</p>



<p><strong>History: </strong>To recreate any historical era that students can travel to and learn about that time period. For example, World War I or the American civil wartime period can be simulated through the metaverse.</p>



<p><strong>Art:</strong> To help students understand and examine a painting or sculpture created by various artists.</p>



<p><strong>Science:</strong> To help students perform lab experiments virtually. For example, the metaverse can create a lab-like setting where one can perform anatomy experiments on a virtual body or conduct experiments on chemicals or physics-related subjects, such as mass, weight, or other concepts.</p>



<p><strong>Literature:</strong> To help simulate an environment or setting where a story or a scene unfolds (based on a novel or book). This helps students to relate to characters and understand the nuances of the story in a better way.</p>



<h2><strong>What are the benefits of the Metaverse in education?</strong></h2>



<p>As discussed above, numerous ways exist to integrate metaverse technology in the education sector and reap many benefits. Here are some advantages that you can get:</p>



<h3><strong>Immersive experience</strong></h3>



<p>Using the metaverse in education will help create a three-dimensional world where one can interact with peers or objects in that space. Using the metaverse technology, one can make an ice age or medieval period and provide students with an immersive environment that gives them a strong impression of things.</p>



<h3><strong>Interactive practice</strong></h3>



<p>A significant benefit of the metaverse is that it gives it an edge over traditional learning &#8211; interactivity. Students can easily have a hands-on experience with practical experiments through the metaverse.&nbsp;</p>



<p>The traditional learning environment can be risky to perform certain experiments (chemistry or chemical-based experiments). However, with the help of the metaverse, students may avoid any risks concerning the experiments. Furthermore, the metaverse also helps students understand theoretical concepts in a better way.</p>



<p>For instance, the metaverse can help students perform experiments involving explosions or mock surgeries without any threat to the outside world.</p>



<h3><strong>Gamification</strong></h3>



<p>Usually, there are various ways to teach students &#8211; passively, statistically, or engagingly. The most effective of these three ways is to teach engagingly, which is the method of the metaverse.&nbsp;</p>



<p>Gamification is the strategy or method used by the metaverse where the teaching process is integrated to game elements to make the learning process engaging. This type of integration enhances understanding and increases participation among students.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://adminblog.upyo.io/wp-content/uploads/2023/03/Metaverse-Gmification-1024x576.jpg" alt="uses of metaverse" class="wp-image-4800" srcset="https://3.111.63.208/wp-content/uploads/2023/03/Metaverse-Gmification-1024x576.jpg 1024w, https://3.111.63.208/wp-content/uploads/2023/03/Metaverse-Gmification-300x169.jpg 300w, https://3.111.63.208/wp-content/uploads/2023/03/Metaverse-Gmification-768x432.jpg 768w, https://3.111.63.208/wp-content/uploads/2023/03/Metaverse-Gmification-1536x864.jpg 1536w, https://3.111.63.208/wp-content/uploads/2023/03/Metaverse-Gmification.jpg 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>In other words, metaverse combines entertainment with studies lending it a fun touch and helping in improving student engagement in learning. Additionally, it also encourages students to do their assignments on time.</p>



<h3><strong>Enhanced performance and learning speed</strong></h3>



<p>Metaverse has the ability to demonstrate concepts visually with detailed steps, which provides a deeper understanding. This improves students&#8217; performance and studies to a great extent.</p>



<p>Furthermore, VR-enabled classes can help students to learn faster. This is demonstrated by research conducted by PwC, where the employees were offered classes through virtual reality. The learners were less distracted and had an engaging hands-on practice that made them learn the concepts better.</p>



<h3><strong>Improves interaction</strong></h3>



<p>Unlike traditional learning systems, metaverse education promotes learner engagement and interaction completely. The life-like ecosystems of the metaverse motivate learners to interact with peers and participate in various activities. This helps students to learn and discuss things in a better way.</p>



<h3><strong>Enhanced accessibility</strong></h3>



<p>A learning center or a school in a physical location can be accessed by only a few, unlike metaverse education, where everyone from any point of the world can access it. The metaverse technology is a boon for students in rural areas or remote parts who lack access to education.</p>



<p>According to a survey conducted in 2015, people residing in urban areas have a better chance at education than those in rural areas. In fact, there&#8217;s a huge gap between the number of people who are educated in these areas. So, metaverse can address this gap by providing learning opportunities to all.</p>



<h4><strong>Conclusion</strong></h4>



<p>Experts believe that the metaverse has the potential to change the way how classes are conducted. It can help the children engage in educational activities proactively. In fact, when you replicate everything from a discussion to a treatment, learning becomes more meaningful.</p>
