Blockchain and Augmented Reality

Cryptocurrency is a very small subset of the conversation when discussing blockchain technology. I own a limited amount of cryptocurrency, but I'm not exactly sure how the immense spectrum of cryptocurrencies is going to play out in the future. My interest in cryptocurrency lies more in the "Web 3.0" movement, especially in how digital assets are owned. Don't worry, I'll connect the dots between Crypto and AR below.

NFT's

NFT's (non-fungible tokens) have gotten a lot of hype lately with the success of larger art projects like the Bored Ape Yacht Club and CryptoPunks. I'm not sure how many of these projects will retain value in the long run, but the system of asset management through blockchain technology has already proven itself. The question is how else can we use these systems.

The Metaverse

Let me go on a bit of a tangent before I dive into a practical use case for NFT's. In my opinion, Zuckerberg's Metaverse will never happen at scale. Virtual reality makes nearly 70% of people feel nauseated. Low VR headset numbers indicate a public disinterest in a purely VR world, especially one owned by Meta/Facebook. The general public is lucky that Zuckerberg is concentrating Meta's efforts in the wrong area (Virtual Reality).


The Metaverse should be intertwined with the real world with augmented reality, especially because most current mobile devices can facilitate some kind of augmented reality experience in the real world. It is clear to me, however, that Meta or any other organization should never have ownership over the contents of a new Metaverse. Something with such a broad potential needs to be owned by the content creators off of large company servers. New startups will begin to offer augmented reality worlds with world contents distributed through blockchains. New technologies could be developed that allow less technically savvy users to create assets within augmented reality worlds using augmented reality devices. The users themselves could automatically mint these as NFT's and have ownership over their own creations.


This is all mostly theoretical today, but it represents a huge opportunity for startups and the general public. Imagine the Van Gough immersive experience anywhere in the world experienced through augmented reality. Imagine the Brookfield Zoo Lights developed for your neighborhood by someone in your neighborhood. AND imagine that Zuckerberg doesn't own the majority of any of it.