NFTs have exploded in both value and popularity, giving artists new capabilities, like the ability to truly connect with their audiences and to earn royalties on works on secondary markets. However, this relatively new technology has the potential to change the art industry as we know it, and one foundation, The DeHorizon Foundation, is aiming to create a pivotal shift.
Art Is Relatively Static
The art for the vast majority of NFTs is represented by a static image. In some cases, GIFs, videos, and audio acts as the artwork at the center of a non-fungible token. While the technology is met with endless capabilities, there is one limitation.
In their present form, NFTs cannot be customized. When you purchase a piece of digital art, that art will remain in the form the artist intended it to be in.
The DeHorizon Foundation, in partnership with NFT interoperability Middleware, POD, will soon launch the first ever interoperable, editable, and evolvable ERC-721 NFT. Unlike anything else on the market, the end user will be able to make changes to the art they purchase, art that’s expected to be known as DeMeta Pass ID, or simply DeMeta.
On the DeMeta platform, users will be able to develop exclusive NFTs or organize other NFTs making it possible for the new version to be minted as an NFT of its own.
Why Is This Important?
The MetaVerse represents a massive community of NFT and blockchain enthusiasts, enthusiasts that know the technology is in its infancy. One of the biggest draws to the NFT space for most is its decentralized nature. There is no central authority and anyone can play a hand in the development of the MetaVerse as it will be known in the future.
The ability to be hands on and make a difference in an emerging industry is exciting. However, with these editable, evolvable NFTs, end users will become even more involved in the development of the MetaVerse.
How does that work?
Think about it this way, there are several NFT games out there, but assets in each game are generally only valuable in the ecosystem in which they were created. By giving users the ability to edit the look and capabilities of NFTs, a new interoperability standard is created in which NFTs can be valuable in any ecosystem within the MetaVerse.
What Exactly Is the DeHorizon Foundation?
The DeHorizon Foundation is aimed at bridging the gap between artists, independent developers, and award-winning celebrities with the goal of positioning its platform as an interactive and decentralized MetaVerse game ecosystem.
At the moment, the foundation is working on developing the first blockchain-based game in history, known as DeVerse. DeVerse will be built on the Ethereum platform where the MetaVerse’s financial system will play a crucial part in creating a sustainable play-to-earn economy.
How Will the NFTs Be Editable?
The most important part of the company’s plans will be making DeMeta editable NFTs, but how exactly will they be edited?
According to the news release, users will find six attributes that can be replaced in each NFT. Also, within DeHorizon, every detail will be a NFT with rarity with each of the six replaceable attributes being randomly generated with replaceable characteristics that are eligible to trade in the future.
Moreover, each NFT will be interoperable, meaning that they will be able to be taken into other assets in the MetaVerse for gameplay, even if the game is on a separate blockchain.
The Bottom Line
The bottom line here is that as with any new, popular technology, NFTs are evolving quickly, and companies like the DeHorizon Foundation are leading the charge. It will be interesting to watch as technological innovation continues to expand the value and utility of NFTs.