Following the surge of NFTs and the metaverse, social spaces are transitioning to the digital realm. As people aspire to break free from the confines of their physical existence and navigate cyberspace, concerns about security vulnerabilities are on the rise.
NFTs and the metaverse, gaining even more prominence in people’s lives in the latter half of 2021, are poised to erase the distinction between the physical and digital worlds. As the physical world undergoes a mandatory shift towards digitalization, efforts are underway to swiftly integrate economic and social assets into the digital realm.
The transformative force behind this shift in the digital world is blockchain technology. It has facilitated the creation of digital counterparts for various physical assets, ranging from currency to intangible assets, ushering in significant changes.
The advent of digital asset forms has given rise to the concept of digital ownership, exemplified by the integration of NFT applications into daily life.
“With this technology, digital ownership of songs, photographs, design works, and even animations such as GIFs can be established. NFTs, a form of ownership, present an economic realm that stretches the boundaries of imagination.
However, despite its advantages, uncertainties surround the future of NFTs. Initially hailed as a world-changing technology, both NFTs and cryptocurrencies have been criticized for their substantial carbon footprint, with an average NFT creation reportedly equivalent to driving about 800 kilometers in a gasoline car, resulting in over a kilogram of carbon production,” states a report in Independent Turkish.
Highlighting that the digital certificates created on the blockchain are stored on countless computers worldwide, preventing the emergence of additional rights holders, experts emphasize the need for new protocols to safeguard against potential seizures by hackers.
The evolving landscape of future societies, according to experts like Büyükbingöl, will be shaped by the convergence of digital technology, artificial intelligence, biotechnology, and social computing.
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