Injective is cementing a collaboration with Dvision Network to explore the opportunity of launching NFT future contracts for items created in the metaverse.
The primary purpose of launching future contracts for NFTs is to enable users to capitalize on NFT sale prices, thereby allowing them to take part in NFT prediction markets. Moreover, this will provide a new outlet for users to interact through the gamified metaverse experience via the Injective Protocol Center in the Dvision Network.
If you’ve been following trends in the NFT industry or are familiar with the ongoing digital art movement, you may have heard about the Burnt Banksy artwork, which was initiated by anonymous group Burnt Banksy and was supported by Injective Protocol. This event established a unique bridge between NFTs and physical art itself. The burnt piece of artwork titled Morons (White) was later sold as an NFT representing its digital reincarnation for a whopping $380,000 and the event itself was covered by international media such as the New Yorker and Forbes.
The mission of the Injective community has always been to provide unlimited access to all markets. NFTs fit well into this overall thesis as the goal is to continue pioneering access to new frontiers within DeFi. Injective has previously collaborated with SuperFarm to help launch a series of exclusive Injective NFTs as well.
The Metaverse Experience on Injective
As a part of this integration, Dvision Network will be powering the Injective Protocol Center, which will be customized specifically to interact with the community through the gamified social metaverse experience in the Dvision world. This will provide unprecedented opportunities for integration with the Injective community on a totally new scale and framework.
The Injective Protocol Center will be based on the VR-space, a non-fungible token (ERC-721), that represents a virtual piece of real estate inside of the Dvision metaverse. The supply of these virtual spaces will be limited to ensure that each will have its own unique location. By launching a virtual space, the Injective community will reach a new level of socialization in a gamified manner.
You can view the Injective Protocol Center here.
The importance of DeFi has rapidly been recognized by a global audience. Along with DeFi going mainstream, the concept of NFTs has evolved and continued to seep into the consciousness of the broader public. Dvision Network consistently explores new ways to enable the smoother and wider convergence of DeFi & NFTs, there are still a remarkable number of technical and conceptual aspects to be explored in this area.
To further expand the use cases for NFTs, community developers are exploring the idea of creating derivative instruments for the most liquid and precious NFT items available within the metaverse. Creating derivative instruments, or more specifically future contracts will break down the barriers for users who are not capable of directly participating in the sale of NFT items. This will be accomplished with users taking part in prediction markets for NFTs. The primary goal of this initiative is to facilitate the capitalization of NFT sale prices without requiring users to hold them.
In the near future, Injective will collaborate with Dvision to expand the creation of new derivatives. A series of NFT index products will also be launched that include the most liquid and attractive NFTs from different projects, including Dvision NFTs.
Stay tuned for more!
About Dvision Network
Dvision Network provides a web-based, real-time, streaming, 3D virtual reality metaverse service so that users can easily experience metaverse contents, such as fairs and games. On the Dvision platform, anyone can easily create NFT items without any development-related expertise. Dvision’s NFT trading system enables monetization by directly connecting creators and consumers without intermediaries. This serves to connect the virtual world to reality.
Injective is a custom interoperable layer one protocol for building powerful exchange, DeFi, derivatives & Web3 applications. Injective was created using the Cosmos SDK and is able to achieve instant transaction finality while sustaining lightning fast speeds. INJ is the native deflationary scarce asset that powers the Injective Protocol and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by Pantera Capital.