NFT Synthetics as experiences

NFT Synthetics create experience as derivatives to increase NFT value

In our earlier (and our first) post we articulated that NFTs are the gateway drug to bring the first billion users to web3. For that to happen, NFTs need to be more engaging - they need to be Synthetics. See the link to the post below for a quick refresher:

NFT Synthetics

In this post we are going to show you the first set of NFT Synthetics - designed for experiences. This is exciting for us here at Multiversal, because of the type of experiences they can unlock.

NFT experience can be in three categories:

1. driving communities

2. social validation,

3. metaverse portals. 

#1 Communities:

NFT Collections are natural communities. We know that community engagement impacts the value of the NFTs. NFT synthetics engage communities in collaborative efforts.

One such collaborative effort is adding interactivity to NFTs using Machine Learning. The collection holders collect data to train a ML model for NFT engagement. Multiversal’s platform can store ML models on IPFS/arweave/filecoin.

We call this collaborative synthetic. The key aspect of this synthetic is that this model *belongs* to the community!

See in this tweet below from our team on what the outcome of a trained model can do:

Multiversal Ventures @x_versal

NFT projects can engage their communities by including them in developing the engagement. Several economic incentives can develop over time for engaging the community adding more value for NFT holders.

Additionally, Multiversal facilities immersive experiences to build these collaborative synthetics.

#2 Social validation:

We call it personification synthetics. Make NFTs more personal to holders. In this class of synthetics holders can create a derivative of their NFT that infuses holder's persona into it. This synthetic is for sharing on social networks designed to create a network effect.

See in this tweet below from our team on how NFT PFPs can be customized for your personality using AI:

Multiversal Ventures @x_versal

This synthetic is for sharing on social networks designed to create a network effect. #pfp #nft

This will bring the concept of meta-identity to NFTs. The analogy here is owning a car from the showroom (NFT) vs customizing the car with your personality (synthetic). Synthetics become your true digital avatars.

#3 Metaverse portals:

An immersive experience for NFTs in 3D worlds that bring to life the vision in the artist's mind. NFTs are already popular in games, but metaverse takes it to the next level.

Games are rule based, which means the NFT characters have limited scope of what they can do. In Metaverse the rules don't exist (or very few) and it is multi-player. You are in a multiverse with other holders!

See in this tweet below from our team on how NFT PFPs can be customized for your personality using AI:

Multiversal Ventures @x_versal

Games are rule based, which means the NFT characters have limited scope of what they can do. In Metaverse the rules don't exist (or very few) and it is multi-player. You are in a multiverse with other holders!

Metaverse portal experience opens new categories of economics incentives. For example, NFT rentals like car rentals / uber allowing holders to lease their tokens for experiences.

We are bullish on all these ideas at Multiversal, and are building it with early customers.

If you are building NFT communities, reach out to us to launch synthetics. Contact by @Kartik Thakore and @Akshay Sharma or via https://multiversal.ventures/contact

If you like what you see so far, give us a follow, share, or quote tweet. To talk to us, join our discord discord.gg/QnQBDFFMNH

We will continue to explore the NFT Synthetics space over the coming week. Until then, happy HODLing!