The Vatican launches into NFTs and virtual reality

The Vatican announced some surprising news last week

A non-fungible token or Non-fungible token is an indivisible crypto-asset, it is considered as a certificate of authenticity or proof of ownership on a blockchain.

What is a non-fungible token or NFT?

A non-fungible token or Non-fungible token is an indivisible crypto-asset, it is considered as a certificate of authenticity or proof of ownership on a blockchain. To be created on a blockchain, a smart-contract or intelligent contract is used, which is a series of lines of code representing the characteristics of the NFT. Unlike a cryptocurrency like Bitcoin or Ether, an NFT is an indivisible asset. Where cryptocurrencies can be split, NFTs remain whole. They nevertheless fall into the category of crypto-assets, because it is perfectly possible to assign a value to them according to their rarity, their characteristics, the person or company who produced them or the profits they make. can generate. There are different types of NFTs, which can be in the form of video, image or sound. Although the majority of NFTs are used in an artistic setting or for video games, they can be used in all sectors of industry, in finance such as cinema, notarial studies, or education, cases of uses are almost endless. Its nature allows it to be integrated into THE metaverse, that is to say into a set of virtual worlds developed on one or more blockchains and in an interoperable way. In other words, you can transfer your virtual objects from one network to another. In the context of a video game, we could consider that we transfer our character from a blockchain A to a blockchain B, to give him access to a virtual world in which there would be other characters from different games. With a relatively limited use in art or video games, NFTs could in the near future be used as a real proof of authenticity for diplomas, or for a vaccine pass. In this case, it would no longer be possible to create a fake certificate, because the blockchain would immediately detect the fraud.

A virtual reality art gallery project for the Vatican

Humanity 2.0 is a non-profit organization that seeks to overcome barriers to the socio-economic and cultural development of humanity using media and technology. As for Sensorium, it is a company specializing in the development of virtual worlds. According to the official statement, this tie-up aims to “develop NFT’s first-ever virtual reality gallery hosting Vatican art, content and academic initiatives.” This virtual art gallery aims to be as accessible as possible. It is planned to be able to go there with a virtual reality headset to be in total immersion, but also with a computer, and even via a smartphone application. This VR art gallery is scheduled to be released within Sensorium’s metaverse, titled Galaxy. The latter should be launched during the year.

NFTs: an opportunity for museums

Museums are increasingly interested in web 3.0 and NFTs. Indeed, technologies in this field can offer digital preservation of a large number of works of art and would facilitate access to culture for the greatest number. Did you know that the Vatican is home to one of the most visited art museums in the world? Each year, nearly 6 million visitors come to discover its collection made up of 800 pieces made by 250 renowned artists.

-> Learn more about NFTs: What is an NFT token? – Complete guide 2022 – francecrypto.fr

This section was written with the help of Laval Virtual and France Crypto to decode these new terms

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The Vatican launches into NFTs and virtual reality


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