Non Fungible Tokens, also known as NFTs, are the booming industry that came along with Blockchain technology and cryptocurrencies. It’s a controversial topic everyone has been discussing, either positively or negatively. To start with, it’s essential to acknowledge that NFTs are a lot more than colorful digital arts because that would be only one aspect of its vast potential.
To define NFTs, we can say it’s an ownership proof of digital assets built over the Blockchain. In other words, it’s a birth certificate for digital assets that can be traced back to the original creator. However, to better understand how NFTs emerged and escalated in the last couple of years, we need to go back in time and review how they evolved.
Evolution Timeline of NFTs
Between 2012 and 2016, NFTs were focused on Coloured Coins, and back then, digital creators started minting memes as NFTs, but the most famous of that era was the first NFT to be minted on the Namecoin Blockchain in 2014 by the digital artist Kevin McCoy.
Between 2017 and 2020, NFTs shifted to Ethereum, which boosted NFTs and introduced NFT gaming, while Metaverse was on the rise itself.
In 2021, considered the year of the NFT, auction houses started selling NFT digital arts for millions of dollars. The market went crazy with other Blockchains developing their versions of NFTs. Perhaps the most memorable NFT sale that year was the Bored Apes collection which sold over 10,000 NFTs for a price of $190 (0.08 ether) per one.
When Facebook announced its new name Meta and started investing heavily in its Metaverse project, the demand for NFTs in the Metaverse exploded, leading us to our current day, where various Metaverse projects invested in NFTs differently to offer advantages to online users. Among those projects are Metaverse fitness centers which are still new in concept but gaining quick acceptance from the public.
Metaverse Fitness Centers
The concept behind the Metaverse is to go beyond the limitations of the physical world. Gyms and fitness centers are not an exception, and so is the case for many sports like basketball, football, jogging, and others.
Metaverse fitness centers are virtual platforms accessed via augmented reality headsets to enable users to collaborate in real-time in a virtual environment. It offers players many features, and the most important are:
- Interact with other players in the Metaverse gym from all over the world and enjoy different games and activities
- Attend training sessions organized by professional instructors to improve your sports routine
- Track your progress via the platform in addition to multiple other personal health metrics
- Motivate yourself to get a healthier body by engaging with others in the Metaverse and playing sports more often than before
Innovative NFT Bonus System at Vital Veda
VitalVeda is developing the world’s first rewarding virtual gym utilizing WEB3, NFT, P2E, AI, and VR technologies to change the fitness training industry. The VitalVeda Metaverse gamified ecosystem is designed to motivate users to engage in health-improving activities in exchange for rewards.
Nowadays, many people can’t train at gyms for different reasons, and others don’t have basic knowledge about correct training instructions, so they need guidance and monitoring to improve their training results. Most importantly, people need the motivation to train continuously, and what’s more motivational than a passive income generated from training? VitalVeda covers all the above, from offering the virtual gym to the reward system that keeps players engaged and eager to train more.
Participating in VitalVeda’s fitness programs and daily challenges enables players to win utility apparel NFTs, also known as VVSW Wearable NFTs. Moreover, VitalVeda offers a shop for players to view, list, and buy VVSW Wearable NFTs. In other words, exercising is awarded by NFTs, and players can sell them to generate income. Not just that, but players can even give their VVSW Wearable NFTs for rent to other players who will pay the rent and use them in contests.
NFTs Have Much More to Say
As seen above, Vital Veda leveraged NFTs by combining the Metaverse fitness center with a personalized trackable reward system, in which players can own their NFTs through hard work and commitment to exercise, then benefit from those NFTs by selling them or even giving them for rent. The platform also offers a market suitable to organize the selling and renting operations of those NFTs.
What emerged as a revolution in digital art and made it to the headlines with a monkey wearing a hat selling crazily developed to cover many industries with the rise of the Metaverse. NFTs are definitely here to stay, and it’s not just a balloon like some people would debate. We don’t know what the future hides because as time goes by, more applications of NFTs will see the light smartly and innovatively.