The NFT can be obtained by purchasing a Full Send Meta digital membership card. Those with a Meta card can participate in upcoming Full Send business initiatives, metaverses, and other exclusive benefits.
The official website describes the NFT: “The Meta card will operate as a mint pass. Any owner can verify the card’s validity by paying a small fee to a Delegate. The Delegate will then check the NFT balance and return a completed claim form which the owner can sign to verify ownership.”
The NFT is essentially an object that has value but cannot be used or purchased independently. It is essentially a “key” that unlocks access to a range of assets, experiences, and material benefits; however, the key has no intrinsic value.
The NFT is controlled by a central authority known as The Metaverse Foundation. It is the only entity that can change the balance of the NFT. It can distribute NFTs and destroy NFTs. It can create rules for the use of the NFT on the blockchain.
The Metaverse Foundation has stated that new assets will be introduced in a controlled manner over time to maintain the value of existing NFTs. As a result, initial demand for NFTs upon launch will be expected to be high due to its “inflation locking” mechanism.
In addition to the digital access to resources and services, the NFT also includes many intangible benefits, including:
Categories of registered content can be tagged with metadata, allowing end users to interact with content via a search function. Metadata can include review and recommendation ratings. Metadata can also include other information that allows for enhanced search functionality.
Once the content is tagged, it allows for “discovery” on Metaverse’s platform. This allows for a more personalized experience based on an individual’s needs and interests.
As new content, services, and assets are introduced, the incentive system is designed to encourage the creation of a positive, sustainable ecosystem that benefits everyone. A suggestion engine will be used to suggest content based on metadata, which users can then vote upon.
Artificial Intelligence (AI) technology delivers content based on the user’s current view. This “always on” functionality is designed to remove the need for users to scroll through numerous pages while remaining relevant and informative.
The ability of Metaverse to automatically generate and personalize content is designed to reduce feelings of isolation and general dissatisfaction due to lack of choice or variety. As a result, users are encouraged to spend more time within the Metaverse ecosystem, supporting new revenue streams for developers.
When an NFT is requested, the system searches for content that is relevant to the request and generates an interface that allows for easy access. The computer vision algorithms operate in real-time and use machine learning algorithms to detect gestures from a user’s visual field and interpret them.
A unique architecture function called the “community” can use user feedback to prioritize content recommendations and improve the flow of information between users.
With the above in mind, there are several practical applications for NFTs. A digital membership card served a similar function in the past, while many major companies still operate purely on paper-based schemes.
The NFT could enhance overall security and facilitate contactless transactions of various kinds. It is likely useful for making payments at bars, restaurants, and other businesses onboarded on the Metaverse network.
The NFT is designed to unlock access to various assets, experiences, and material benefits; however, the key has no intrinsic value. It will only have value if the ecosystem is ultimately successful in attracting a large number of users.