$OVR Reality and Through the Woods (NFTs Clear 10B in Q1!) | Decentralized Arts
BanklessDAO Weekly NFT and Cryptoart Newsletter
Dear Bankless Nation,🏴
NFT news is happening faster and faster, developed on verticals that - even if defined - appear increasingly linked to each other. The fine art of the great cryptoartists of our day has become the origin of new trends influenced by both culture and blockchains. Thanks to Yuga Labs, PFPs weave links with this technology, fungible tokens and the idea of a dedicated layer. NFT-based video games are churning out new releases as well as metaverses. Worlds are emerging. What will be the next step? Perhaps it will come next month, during NFT NYC.
In the meantime our exploration of the most interesting projects continues.
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🌐 Curated NFT News
Ledger Live Integrates Polygon
The hardware maker Ledger has announced support for Polygon NFTs to its Ledger Live application, allowing users of the Ledger Nano wallets to be able to view, send and receive NFTs. This feature was already available for mainnet.
Meta to support NFTs From Ethereum, Polygon, Solana and Flow in Instagram
The social media platform is starting a pilot today that will allow a selected number of NFT enthusiasts based in the U.S. to display their collection on Instagram free of charge.
Instagram will support popular wallets such as Metamask, so users will be able to prove ownership of the non-fungible tokens and it will allow setting them as profile pictures or tagging the creators of the pieces.
It is also rumored that Facebook, another of the companies under Meta, is working on minting and NFT memberships for Facebook groups.
NFT Secondary Market Reaches $10 billion in Q1 2022
According to Messari’s NFT Q1’22 Market Rundown, the NFT market has zero signs of slowing down as it has reached a record $10 billion in the first quarter of 2022, and only in secondary sales at that!
Ethereum had 84% of the pie with $8.5 billion sales volume, followed in the distance by Solana with $700 million in sales and then Ronin, Avalanche, Flow and Polygon, making them the top six blockchains by sales volume constituting 98% of all NFT sales.
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OVER THE REALITY
The best way to describe the early days of Pokemon GO is by using the onomatopoeia BOOM! It was a true explosion of popularity that reached people of all regions, ages and economic levels. You even saw grandparents hunting for Pikachu. It was the first time I saw how augmented reality was adopted massively.
Now imagine that you build that idea open source and onchain in such a way that anyone can create and be the real owner of the objects that appear. The possibilities that AR and Web3 offer us are amazing and the project that we will talk about today, OVER, is working hard to position itself as the leader in this field.
WHAT IS OVER?
OVER is an Augmented Reality (AR) metaverse built on the Ethereum blockchain. The main difference between OVR and other similar platforms is that it enables interactive augmented reality experiences in real life through a mobile phone. Recently, they changed the name from OVR to OVER. The platform has proven to be very popular, it has not stopped growing since it launched and now it has over 750 thousand users.
The OVER project has divided the planet earth into 16 billion hexagonal-shaped lands and has associated an NFT to each one. Users will be able to buy/sell the lands and build augmented reality scenes on them for other other users to visit and interact with. Through geolocation, you can experience it depending on where you are in the world. For example:
You could buy land in Central Park and create virtual concerts so that whoever is there can enjoy your art.
In OVER, you can create your unique personal avatar through a selfie in a simple way, which transports to one of the many scenes users have created. To create the scenes, the project has an SDK that connects 3D assets with the blockchain, creating experiences and games for other users to interact with. With the implementation of Unity, the experiences are becoming even more interactive, for example, shooting a basket and as a result increasing a counter. The OVER team is continually working on expanding the utilities of the OVER builder so that it will be more and more fun.
In addition to all these options, the project runs OVER LAB, where users can get $OVR if they find the chests around the city. Hunting tokens is better than hunting Pokemons! If you are an artist, you will now be able to create galleries to exhibit your work and users will be able to visit them both locally in AR and remotely in VR. Artists can be present in the galleries with their avatars and can interact with visitors from all over the world. Artworks can also be connected to any market place via hyperlinks. And not just works of art, but any digital asset you can think of thanks to their Meta Markets.
Live events are one of the highlights of OVER. Metaverse performers can perform during live events using motion-tracking suits. Your facial expressions and body language can be broadcast on OVER to thousands of viewers at once.
OVER is focused on interoperability. For the Metaverse to be such, it must be able to trade items between different platforms and so the OVER fact allows you to carry NFTs from other Metaverses like Decentraland or Sandbox, or from whatever NFT collection you have.
At BanklessDAO we are defenders of Ethereum and Layer2, so it is exciting news that OVER decided to migrate to Polygon Network. The gas fees were abusive and since Polygon has been implemented, users have reacted positively, increasing the volume of sales.
We have been watching movies for years in which the actors put on glasses with which they could see in augmented reality and interact as if they were real objects. The last one, Free Guy, starring Ryan Reynolds may be a bit exaggerated but in a fun way it gives us an idea of what AR is.
There is still time for the technology to reach the goals that the Metaverse proposes, however if you understand how blockchain and the human mind works, you will see the enormous potential of this niche.
A few years ago nobody imagined that we would carry a device in our pocket with which we could pay and talk to people from other continents while we see them. That is why we must anticipate the moment in which all people wear augmented reality glasses. Add to that the revolution that web3 and NFTs entail, and you will get OVER, a project that you should definitely take into account.
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