Understanding Augmented Reality
Augmented Reality (AR) refers to a system that combines the real and virtual worlds, enabling real-time interaction and precise 3D registration of virtual and real objects.
Unlike virtual reality, which replaces the real-world environment with a digital one, AR enhances or alters a person’s experience of the world by interacting with it.
AR has gained significant importance in the blockchain space, particularly in Non-Fungible Tokens (NFTs).
Unique Digital Assets on the Blockchain
NFTs are unique digital assets built on blockchain technology. Unlike other cryptocurrencies, NFTs cannot be replicated or exchanged on a one-to-one basis.
They represent distinct items or moments and can include various digital forms such as music, movies, images, or tweets.
Merging Augmented Reality with Unique Digital Items
AR NFTs incorporate augmented reality components and features, allowing users to visualize digital items in their surroundings or on their face/body.
In contrast, regular NFTs typically depict art pieces or moments in time. 3D NFTs, on the other hand, are digital items that can be viewed using augmented reality or other technologies.
In essence, AR NFTs and 3D NFTs offer virtual reality experiences that can be shared through AR-enabled websites or applications.
Artists, auctioneers, and merchants can benefit from AR NFTs and 3D NFTs as they open up new revenue streams.
These technologies also eliminate the need for intermediaries, allowing artists to engage with their audience directly.
Additionally, software-based digital collectibles enable developers to receive royalties when NFTs are resold.