#NFT #NFTS

1- In the art world, seemingly simple paintings can be sold for tens to hundreds of millions of dollars. The value of art does not come from the painting's ability or the time it took to create it, but rather from its position in relation to an idea, concept, history, or context.

2-Value is created by the combination of "position in the art historical context" x "artist's thought and embodied style. ・It brings a new interpretation and expression to the artistic history. ・It expresses the artist's underlying desire in an original way.

3- Review the idea that "art = self-expression." People in the actual art market know that self-contained expressions of desire are only the style of some genres and times, and they are sometimes looking for the intersection of the artist's personality, society, history, etc.

4- There are various types of art. Living by art means devoting all one's time to researching one's interests, studying the market to the fullest, and learning about history and culture. He digs deep into his inner self, analyzes it, and strives to give it shape.

Technology startup TravelX is helping an Argentinian airline offer NFT tickets to its customers, and the firm expects a handful of other air carriers to adopt this model by the end of the year.

Customers of Buenos Aires-based Flybondi now have the option to activate NFT versions of their tickets, which allow them to make a name change on the reservation or transfer the ticket to someone else.

The new feature enables companies purchasing tickets, for example, to decide which of its staff members will be traveling later on.

“What we believe is this is going to become the new standard,” Chief Product Officer Alejandro Nardi told Blockworks. “If you think about the travel industry, it’s the only one where you’re buying an asset but you’re not the real owner of that asset. That’s basically what we’re changing within the industry.”

TravelX’s technology, called NFTicket, uses blockchain Algorand. Algorand Foundation CEO Staci Warden said in a statement the tech, which integrates ticket-related rules into the smart contract, “likely represents the largest use case of utility NFTs we’ve seen.”

Flybondi’s newest capabilities comes after the airline last September launched its NFTicket Marketplace. Flybondi connected to the marketplace at the time, making tickets available for tokenization as a sort of proof of concept. About 1% of Flybondi tickets sold monthly were tokenized.

But starting last week, every ticket Flybondi sells is tokenized and built directly into the infrastructure of Flybondi’s online platform, according to TravelX, which is headquartered in Miami.

Flybondi CEO Mauricio Sana said in a statement the new ticket distribution method is set to boost efficiency — reducing the airline’s customer service costs and increasing its revenue.

Bryan DiSanto, head of Web3 brand and marketing for gaming studio InfiniGods, said the new airline tickets are significant for widening the adoption of NFTs, adding that such efforts can help airlines build loyalty.

“For decades, airlines have dictated strict travel terms and rules, in a way that I would deem to be unfairly restrictive,” Disanto told Blockworks. “This represents a big step in the direction of consumer empowerment and flexibility.”

How it works

TravelX executives sought to make sure there was no friction for Flybondi flyers.

A customer buys a ticket on the airline’s website with a credit card. They will then receive a confirmation email. A second email shares a link to activate what the airline calls Ticket 3.0 — the user-facing name for the NFTicket technology.

Each user creates an account that is associated with an Algorand address. The traveler doesn’t get their private keys, however, and must use the platform to modify or transfer tickets.

Flybondi is intentionally staying away from crypto- and blockchain-related branding to avoid alienating people intimidated by the technology.

“From a user perspective, it is [Ticket] 3.0,” Nardi said. “There is no Algorand here, there is no blockchain, there is no MetaMask.”

Once travelers have an account, they can pay a fee — amounting to 282 Argentine pesos (about $1.34) during a TravelX demo with Blockworks — to change the name on the ticket or transfer it to someone else. FlyBondi collects a percentage of each secondary transaction fee.

This request alerts the airline and Algorand. The ticket can be transferred in minutes.

Similar to the way e-tickets work today, TravelX executives explained, an NFT ticket may not be able to be transferred within a certain time frame before departure, depending on a country’s regulations.

Between 10% and 15% of Flybondi customers had initially activated the NFT capabilities of their tickets. TravelX says they expect that number to go up to 90% once they include the activation link as part of the confirmation email.

“This is the first airline,” Nardi said. “They really want to go step by step and don’t want to create confusion for their customers.”

What’s next?

In the coming weeks, Flybondi travelers will be able to re-sell their NFT tickets via the Ticket 3.0 accounts, TravelX CEO Juan Pablo Lafosse said.

“It’s going to be published on a secondary marketplace that we have built,” he told Blockworks. “Anybody will be able to buy and sell tickets from other people — not only from the airline.”

FlyBondi is set to receive a portion of the price increase of every resale transaction.

TravelX executives said it has met with roughly 70 other airlines — across Europe, Latin America, the US, Asia and Africa — about the NFTickets technology. It expects most low-cost carriers around the world to adopt the model in the next 12 to 18 months.

“If the Flybondi experiment is well-received and creates opportunity, I would imagine that you’ll see a large carrier follow suit in short order to grab headlines — and gain first mover advantage in the industry to gain loyalty and preference from broader groups of travelers,” DiSanto said.

Bureaucracy is likely holding back some of the larger legacy airlines, Nardi said. Such companies have also shared concerns about losing revenue linked to penalties for no-shows, for example.

“But once they understand they can offer the customers a better product, they can increase demand as they are unlocking a lot of use cases that right now are restricted,” the TravelX product lead added. “The early adopters will show the data and how this is bringing value not only to the customers, but also to the airlines.”    

#nftcommunity #NFT #NFTS  

In this article, let us dive into those sectors on which web3.0 and metaverse are creating a real time impact.

Looking past the hype and critique, Web3 and the metaverse are shaping a new application layer for the internet. How can leaders better understand this evolution and what it means for businesses, organizations, and society?

WEB3 and The Metaverse - Real time Impact

In an era where technology is advancing at a blistering pace, the terms ‘Metaverse’ and ‘WEB3’ have begun to permeate our collective consciousness. They are symbols of a shift towards a new digital reality, more immersive, decentralized, and user-controlled cyberspace.

These emerging technologies aren’t just another high-tech trend to follow; they represent a potential quantum leap into an exciting digital future.

The Metaverse - (Xave World)

By removing distance, connecting everyone and everything, and unleashing massive flows of information, the internet has been the greatest disruption since the printing press.

In a few decades, it has reshaped much of the human world, enabling great progress and historic change, and revealing the many challenges that come with such transformation.

There is now a growing need for standardization and interoperability across services and systems, more coherency around market fragmentation, more intuitive and seamless user interfaces, and governance that effectively regulates content and experiences while still supporting progress. 

Smart cooperation and governance by providers and regulators may be critical to overcoming Web2-era challenges and enabling the next internet platform: the metaverse and Web3.

Moving further into a world that blends the physical and digital may require greater integration, more modern standards and protocols, and capabilities that give people more control of their digital selves—their identity and representation, what they own, and who has access to the data they create.

Just as we use standardized protocols and devices to interact with digital experiences on the internet, the promises of Web3 could help enable consistency and interoperability across metaverse experiences—uniting disparate, disconnected metaverses into a single coherent platform.  

Similar to the web, there can be walled gardens and open commons and any number of creative innovations, accessed by browsers, mobile apps, AR glasses, VR headsets, and more.

The metaverse is emerging from our digital behaviors

Today, people often socialize through global networks, modifying their appearance with augmented reality filters that can see and respond to faces, wrapping themselves in avatars, buying virtual clothes, and attending concerts in massive game worlds. 

Businesses hold face-to-face meetings remotely and virtually, and can don VR and AR headsets to train, visualize, and collaborate.

Generation Z ranks playing video games as their favorite form of media and entertainment.4  Even before the nonfungible token ( #NFTS ) boom, some game worlds were running out of virtual real estate to meet the demand of players. 

Remarkably, one poll found that over half of people in nine markets prefer to spend their time online rather than in the real world. Several generations have become accustomed to digital interfaces, software and interactivity, and global connectivity. We immerse into the digital and increasingly draw it out across the physical world. Amidst the hype and critique, it is these behaviors and uses that are invoking Web3 and the metaverse.

Enabling seamless movement across the metaverse

One of the more common promises of the metaverse vision is the portability and interoperability of identity, data, and digital assets. For example, if a consumer buys an exclusive digital item for their avatar from one service, like a piece of virtual clothing, they can go to a second service that will recognize their ownership of the item and render it effectively.

For the enterprise, a similar use case might involve being able to invite users across a partner ecosystem into a shared immersive collaboration. This might mean reviewing the 3D assembly of a prototype vehicle or inspecting a digital twin of a factory for performance enhancements.

This capability may require new ways of organizing identity, ownership, and even storage. Digital identity is often fragmented across services, with multiple logins and passcodes.

Likewise, digital assets such as personal avatars and virtual clothing are designed to work in the service providing them, not for portability elsewhere. Currently, only the service knows you “own” the asset, and only the service can load and render that asset.

This concentration of user identity, data, and ownership within a given service is what is referred to as “centralization”.

Web3 can enable blockchain registries that bind a user’s identity to the things they own. NFTs offer this ability. 

Instead of being scattered across services, identity could become a persistent element of the blockchain internet: physically decentralized across the many computers mirroring and managing the blockchain but logically centralized as a registry.

This would enable any service to read the “state” of the user and the goods they own. Identity, data, avatars, and 3D objects could become portable across services.

Shifting the balance of power: Understanding centralization and decentralization

Web2 has been marked by hyperscale platforms and two-sided marketplaces that have aggregated very large numbers of users and built their businesses using identity and user data. Web3 protocols were developed specifically to challenge this control.

Increasingly, these winners may feel burdened by managing and securing identity and data, contending with customers and adversarial third parties that have learned to exploit their services, and reckoning with regulators concerned with market dominance and consumer protection.

If business leaders are to guide the historic shift to Web3 and the metaverse, they may need to shed some of their Web2 norms and embrace more decentralization.

Centralized vs. Decentralized

For the metaverse, decentralization applies to the premise that internet users should control their identity, their data, their digital goods, and more, and that these can move with them between services and experiences.

With Web3, a user’s avatar and digital goods, for example, can become more easily portable across different services. Or users can specify different properties for different services. For example, one’s personal avatar may be very different from one’s avatar for work—just as one’s dress style may be.

Users could use smart contracts that determine how third parties may or may not interact with their data. In this model, businesses can still own and control metaverse experiences, but they would negotiate for access to users.

There is much more to understand.

What changes will come with regulation, and how will use cases impact networks, semiconductors, software, and consumer devices?

How might media and entertainment evolve?

What is the role of artificial intelligence in amplifying these capabilities, and what is the future of risk and cybersecurity?

Ultimately, this big shift responds to the demands of people, business, and technology to establish the next foundation for progress. However, such tectonic changes should be approached thoughtfully, with more societal considerations beyond the goals of business and the inertia of technology.

#Binance #AI #Metaverse #WEB3