NFTs, blockchains and the metaverse threaten to make our world the Matrix

Iconic sci-fi saga, Matrix more of a topical film. In fact, it poses the problem of the growing influence of machines and technology in our daily lives. The world also seems to be heading towards the dystopia described there with the emergence of three technologies, namely: NFTs, blockchain and the metaverse. The interest in these risks leads people to choose between the comforts of virtual reality and the difficulties of the real world. In the meantime, it is important to consider the following elements.

NFTs

Thanks to the unchanging nature of NFTs, artists have gradually regained economic control over their activities. Technology adoption is also possible eliminate the counterfeit market in many areas. More than just a way to digitally verify ownership of an object, NFTs can also encourage consumer participation in all types of projects.

Despite all these advantages, the use of this technology also has a dark side, as at present it is not subject to any direct regulation. Since NFTs are only worth what investors are willing to pay, the level of compliance in this market is relatively high. Most hypothetically, NFTs represent a risky asset class where you can easily lose money.

Blockchain

A technology that supports the cryptocurrency market, the blockchain has tremendous potential to be useful in a variety of areas other than finance. By promoting full data decentralization, the blockchain has promotes the emergence of the world’s largest unregulated market. Like NFTs, cryptocurrencies are high -income assets managed in significant order.

They have become instruments of crime, as they are not controlled by central banks and offer a specific anonymity to their users. Blockchain decentralization that restricts control of any jurisdiction or entity, is represented by technology a ticking time bomb in the case of mainstream adoption of cryptocurrencies.

The Metaverse

Thanks to a virtual reality headset, the metaverse immerses us a universe where our avatar can do all of our real life tasks. It considers our favorite distractions as well as professional life. The economy of this virtual world will focus on using NFTs to equip our avatars and cryptocurrencies. This set is based on the blockchain and contains one of the key elements of the Web 3.0 concept.

While attractive, the idea of ​​spending time in the metaverse surrounded by virtual assets has many risks. In addition to issues of identity theft and security, the metaverse can foster an unhealthy human addiction to virtual reality. Continued immersion in this universe can promote an inactive lifestyle, depression, withdrawal from society, even a confusion between what is real and what is not.

All of these elements should lead us to ask ourselves what exactly we expect from technology, and the limit that cannot be crossed by using it. Despite all of its benefits, NFTs, Blockchain, and the Metaverse should have no adverse effects on our finances, well -being, and long -term health. So we need to remember that technology is there to improve our lives, not to dominate them like Matrix.

Source: TechRadar

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Luc Jose Adjinacou's Avatar

Luc Jose Adjinacou

Far from weakening my enthusiasm, an unsuccessful investment in a cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and relay the information in my pen related to this ecosystem.

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