NFT Avatar is another breakthrough in NFT for Mask Network. Because of its non-fungible nature, NFT Avatar is unlike any other JPEG image and is used not only to show prices to other users, but also to do something more meaningful in digital identity. With NFT Avatar, users can use their own NFT as their Twitter profile picture, which represents the identity of the owner both in the crypto world and in the future metaverse. Users will first be able to experience what it feels like to live in a metaverse. Only the owner of the NFT has the right to include it in his profile. If another user takes a screenshot (JPEG) and adds it to their profile, they will not be considered an NFT avatar or they will not actually own the NFT.
Mask Network aims to create a decentralized application ecosystem that bridges the gap between Web 2.0 and Web 3.0 for tens of thousands of users and enables them to transition seamlessly. NFT is one of the front ends for Web 3.0. Mask Network bought a CryptoPunk (# 6128) and two loot bags (# 3870 and # 7405) to make them properties of MaskDAO.
The non-fungible token (NFT) market has exploded recently, reaching new highs in the second quarter of this year with sales of $ 2.5 billion in the first half of 2021. Beeple’s art was sold $ 69 million and CryptoPunk # 31200 and # 7804 both sold for $ 7.68 million. Many celebrities and entrepreneurs use the NFT market like YouTuber Logan Paul, musicians like Jay-Z and Grimes, businessman Gary Vee, etc. Logan Paul has spent over $ 150,000 on two NFTs. Jay-Z invested in Bitski NFT marketplace, helping it raise $ 19 million in a Series A funding round. Gary Vee (Gary Vaynerchuk) paid $ 3.7 million for a CryptoPunk NFT and said that he personally believes in the asset he was just referring to. Aside from that, he also launched his own NFT collection.
What makes an NFT valuable is its uniqueness. Ownership of a single digital asset can be tracked on a blockchain, an immutable and decentralized database supported by servers. No two NFTs are alike, and each NFT is unique, which increases its status as a rare item collection.
There are also other projects that go in a similar direction with apps / extensions. And Mask Network doesn’t see them as competitors, but wants to cooperate with these projects to create an ecosystem to attract more users to participate. Mask Network aims to provide better infrastructure for every user. That is also the reason for the enormous funding that Mask Network continuously makes available to many other projects with the wish that they can all develop together and build a better ecosystem for the Web 3.0. .
Mask Network introduced the NFT Gallery feature on August 10th. Based on the NFT Gallery, Mask Network can get closer to enabling NFT Avatar, which reinforces the social attributes of users’ digital identities and demonstrates its true worth by verifying its authenticity.
With Mask Networks’ vision, they believe that NFT Avatar will be a brand new entry point for users into the metaverse. They keep updating them to ensure that the bridge they create is easy for users to use. They hope to get more users to experience a whole new form of digital representation and find out what digital identity really means in the world of Web 3.0.
* The Mask Network team is still facing limitations in the display of NFT avatars and currently the project only supports NFT on the Ethereum network.