NFTs, blockchain, and the metaverse threaten to turn our world into a Matrix

Famous science fiction epic, matrix It is the most topical movie ever. In fact, it raises the problem of the ever-increasing impact of machines and technology on our daily lives. The world also appears to be heading towards the dystopia described there with the emergence of three technologies, namely: NFTs, blockchain and the metaverse. Concern for these risks leads humans to choose between the convenience of virtual reality and the difficulties of the real world. In the meantime, it is important to consider the following items.

NFTs

Thanks to the static nature of NFTs, artists are gradually regaining control over the economy of their activities. Technology adoption can be too Eliminate the market for counterfeit products in several areas. More than just a way to digitally verify ownership of an object, NFTs can also stimulate consumer engagement around all kinds of projects.

Despite all these advantages, the application of this technology also has a dark side, as it is not currently subject to any direct regulation. Since NFTs are only worth what investors are willing to pay, the level of volatility in this market is very high. High guesswork, NFTs represent A risky asset class in which it is easy to lose money.

Blockchain

A technology that underpins the cryptocurrency market, blockchain has unique capabilities that can be useful in a variety of areas outside of finance. By calling for the complete decentralization of data, the blockchain has Promote the emergence of the largest unregulated market in the world. Like NFTs, cryptocurrencies are highly profitable assets that are subject to significant volatility.

They have ended up becoming an instrument of crime, as they are not under the control of central banks and provide some anonymity to their users. The decentralization of the blockchain prevents the control of any jurisdiction or entity, which is represented by technology A ticking time bomb in case of mainstream adoption of cryptocurrency.

metaverse

Thanks to a virtual reality headset, the metaverse plunges us into A world where our avatar is able to perform all our realistic tasks. This takes into account our favorite sources of distraction as well as career. The economy of this virtual world will focus on using NFTs to equip our avatars and those of cryptocurrencies. This group is specifically based on the blockchain and forms one of the main elements of the Web 3.0 concept.

As tempting as it may be, the idea of ​​spending time in a metaverse surrounded by virtual assets comes with many risks. In addition to identity theft and security issues, the metaverse can develop into an unhealthy human addiction to virtual reality. Constant immersion in this universe can promote a sedentary lifestyle, depression, withdrawal from society, Even confusing what is real and what is not.

All of these elements should lead us to ask ourselves what we really expect from technology, and the maximum we can’t go beyond using it. Despite all their benefits, NFTs, Blockchain, and the Metaverse should not have negative effects on our finances, our well-being and our long-term health. So we must keep in mind that technology exists to improve our lives, not to control them as in matrix.

Source: TechRadar

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Luke Jose Adjinaco

Far from dampening my enthusiasm, an unsuccessful 2017 investment in a few cryptocurrencies only added to my enthusiasm. So I resolved to study and understand the blockchain and its many uses and pass on my pen information related to this ecosystem.

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