Terra Virtua (TVK) - Immerse yourself in the world of digital items

Post Reply
User avatar
Kirill
Posts: 30
Joined: 24 May 2021, 18:35

Terra Virtua (TVK) - Immerse yourself in the world of digital items

Collecting has changed a lot over the years. What began as a niche hobby for stamps and coins aficionados back in the war years of the 20th century became much more popular towards the end of the millennium as new limited edition genres began to attract collectors of all ages and genders. From collectible cards and comics to plush toys and figurines, everyone seemed inclined to collect something, and every loft or attic had a box of jewelry that the owner considered valuable, be it sentimental or monetary.
Image

Collecting turned into serious entertainment, and it was widely publicized that Princess Beanie Baby was sold for $ 500,000 or a rare baseball card was sold for several million dollars! These types of stories have inspired the industry and collectibles have become part of the economy.

With the advent of computer games and the Internet, a new kind of valuable commodity has emerged - Digital Collectibles. Originally presented as something that could improve your gaming performance, such as a more powerful sword or more durable armor, players will be able to purchase these virtual items for their in-game character, allowing them to advance to higher levels more easily. In some games, you were allowed to trade these items with other players, so the concept of “digital collectibles” was launched.

As these virtual items became more and more popular, especially With the rise of games on mobile devices, the actual functionality of the item became less important as people began to look for ways to distinguish their character from everyone else. Therefore, clothing, jewelry and other accessories were offered to make your character stand out from others, or be used as an expression of your own personality. The popular game Fortnite was significant in this regard, offering players all types of “skins”, the cost of which (up to hundreds of dollars) reflected the rarity of the item. This has dramatically changed the mass acceptability of digital items, although the actual collectible has not yet been established.
User avatar
Kirill
Posts: 30
Joined: 24 May 2021, 18:35

Re: Terra Virtua (TVK) - Immerse yourself in the world of digital items

Image
The problem with long-term item collection in games like Fortnite is that they have a limited lifespan. In fact, when you “buy” an item, you are actually licensing it, as one day in the future the game will eventually be decommissioned and disabled ... and all these virtual items will cease to exist. But the new technology was poised to change the face of the entire digital marketplace.

The blockchain was introduced to most people when they read about cryptocurrency and discovered "virtual coins", the value of which increased from a few cents to tens of thousands of dollars per relatively short period. Alleged money laundering, terrorism and drug activities, perpetuated by the media, have made cryptocurrency a bad name and, by association, a blockchain. Fueled by fear and misunderstanding of what blockchain really is, any business involved in this area was viewed with distrust, which was both unfair and unreasonable.
Image

Blockchain is the core technology which creates an immutable "ledger" on the network of "hosts". These hosts individually manage the entire network record, and network integrity is maintained by all hosts that agree to add each new block. This creates persistent transaction records that are stored and encrypted in a way that cannot be hacked.
User avatar
Kirill
Posts: 30
Joined: 24 May 2021, 18:35

Re: Terra Virtua (TVK) - Immerse yourself in the world of digital items

Image
This means that you can have proof of a monetary transaction - and therefore of ownership of an item - that is continuously recorded and available to everyone as proof of your ownership of the item, albeit kept anonymously. In other words, when someone wants to authenticate the owner of an element recorded in the blockchain, he is presented with a "wallet address" consisting of 34 different characters. This wallet address is essentially your blockchain ID. This has nothing to do with cryptocurrency or bitcoins, it is just a function of the blockchain: a transaction record and a permanent record of it in a state in which ownership is shared and therefore the data is not controlled by one party. In fact, if the item in question is subsequently sold to another party.

This brings us to a new era of blockchain-based digital collectibles. Earlier, we mentioned the fact that after the game is decommissioned, any digital item purchased in this game will also disappear. However, blockchain now allows these digital elements to exist permanently, regardless of whether the company that created them disappears.These items are "immutable" ... and may even be listed as part of your estate and left in your will to your children!

But there is another advantage of blockchain with regard to digital collectibles - in addition to the source , an item record can represent and certify any other function, the most important of which (in this context) is the quantity of that particular item / model. This is a demonstration of the authenticity of this item; if only 50 were created, then this edition can no longer be added. In other words, the rarity is "locked" and the creator cannot earn more and sell / trade them as "original". And this information is constantly recorded for verification and verification by interested parties. This type of virtual collectible is known as Non-Fungible Token or NFT because it is recorded on the blockchain as a unique (“non-fungible”) item.

So now we have an exciting new digital collectibles market that provides authentication of ownership, record of origin (history) and certification of rarity; something previously impossible in the traditional world of physical collectibles.
Post Reply

Return to “Invite Terra Virtua Marketplace”