Initiating the NFT-centric Ecosystem with AvatarArt Marketplace
Hanoi, Vietnam--(Newsfile Corp. - November 25, 2021) - ByteNext’s Metaverse vision started with Layer 6. Crypto, Blockchain, NFT Game, NFT Art - All these words have been hyped among Vietnamese communities. 2021 is indeed the breakthrough milestone for Blockchain adoption when Axie Infinity - the most valuable NFT Collection ever - announced Sky Mavis, a small crew in Vietnam, as game developer. It appears that the thesis - “Games are not just game but the world” - has eventually come true. NFT Games now has the stepping stone to bring the real world into the Metaverse. However, gaming has outshined the core value of NFT.
Figure 1: ByteNext’s Metaverse vision started with its Layer 6
The Tipping point of Viet-based NFTs
The NFT craze is making waves in Vietnam. Recently, artist Xeo Chu (14 years old) has just charged nearly 23,000 USD for the painting "Lucky Apricot". More and more artists are starting to venture into NFT with the proliferation of digital marketplaces and Tech startups.
Figure 2: ByteNext’s Metaverse vision started with its Layer 6
Money is flowing into blockchain solutions and Vietnam leads the world in crypto adoption. Nevertheless, no major players are there to set up firm foundation for arts in the cyberspace.
A Metaverse Ecosystem evolving around NFTs
Figure 3: ByteNext’s Metaverse vision started with its Layer 6
ByteNext is a blockchain incubation hub on a mission to realize the full-scale Metaverse Economy. The first project fostered by ByteNext to be launched is AvatarArt
AvatarArt | A true virtual reality for digital assets
NFT opened a new era when it offered a new model of scarcity - a model that has power to serve the living creators. This shadowed other characteristics of a great art, including the curation process that determines which would be the next Mona Lisa or Starry Night.
AvatarArt aims to create a true Virtual Reality for arts. NFTs backed by physical arts are the firm foundation for our assets in the metaverse.
Integrating a full-stack system to accelerate NFT Adoption
With AvatarArt, ByteNext will not only lead the Vietnamese NFT Movement with world class curation standards, they will also establish a scheme to offer a fully immersive virtual experience for creators and entry-level enthusiasts.
Figure 4: ByteNext’s Metaverse vision started with its Layer 6
Omni NFT Marketplace
Aside from Curated Physical Art NFTs - which is accompanied with specialized inventory and insurance, AvatarArt opens the door into the digital world with Generative Art NFT, Social NFT and Digital NFT.
ByteNext DEX & Launchpad
Built on FLOW, their powerful launchpad is designed to foster top-tier NFT projects. They also have their own DEX to provide first-time crypto wallet owners seamless, secured access. This allows all INOs and transactions to be executed easily, and, at a competitive low cost with their native token, BNU.
In order to reach the masses, not only in Vietnam but also around the world, ByteNext developed its Yield Guild that provides smooth communication and asset lending procedures.
In the future, VR, MR or AR would step in to help creators completely engage in virtual galleries. ByteNext bridges are also a key element in the ecosystem. Heading toward an united Metaverse, ByteNext enables flexible and secured swaps between different chains. Two currently available chains are BEP20 and FLOW.
Figure 5: ByteNext’s Metaverse vision started with its Layer 6
The fact that famous auction houses such as Phillips or Christie's accept auctions of NFT works and pay with cryptocurrency opens a new chapter for contemporary arts.
The scene became even more exciting when auction-house giant Sotheby's announced the launch of its own custom NFT marketplace to manage all of its in-house sales.