Multiverse NFTs — soulbond NFTs for a ‘digital asset’

Why is it needed?

NFTs in the ecosystem have evolved to represent multiple types of unique non-fungible assets. One asset in the ecosystem includes a set of NFTs (more than 1) related to one another — for example, a set of related wearables. We need a way to represent the relationship and transferability of these NFTs.

How it works

Consider a pair of new shoes being released by Nike or Adidas. In real life, you would buy these shoes and use them everywhere. But in the current digital world, you need to buy these shoes as items (NFTs) in each metaverse! On top of that, the same pair of shoes would have different token IDs and contract addresses on each separate metaverse! In reality, it is the same pair of shoes, and paying for those multiple times on each metaverse is illogical.

So many use cases!

Multiverse NFTs are versatile. While they could represent the same asset (e.g. a pair of shoes or a T-shirt) across different metaverses, there are multiple other use cases too. These NFTs are not only limited to representing the same asset across multiple platforms but can also represent multiple assets in the same category. For instance, they could represent a whole outfit for an avatar such as a Spiderman or an Iron Man costume. In this example, all the different costume components could be minted as separate NFTs and then “bundled” into a top-level Multiverse NFT.

Multiverse NFTs and Souldbound NFTs

Multiverse NFTs are valuable not only to gamers but also to the game developers themselves. Games such as Assassin’s Creed or Cyberpunk usually sell Legendary, Epic, Common weapons and armour sets packages. These sets could theoretically be bunched together as Multiverse NFTs and sold to the collectors/gamers. They could also make these NFTs “soulbond”.

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