The Vatican launches in NFTs and virtual reality

The Vatican announced surprising news last week

A non-fungible token or non-fungible token is an indivisible crypto asset, it is considered 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 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 that represent the characteristics of the NFT. Unlike a cryptocurrency such as Bitcoin or Ether, an NFT is an indivisible asset. Where cryptocurrencies can be split, NFTs stay whole. They nevertheless fall into the category of crypto-assets, as it is perfectly possible to assign a value to them based on their rarity, their characteristics, the person or company that produced them or the profit they can generate. There are different types of NFTs, which can be in the form of video, image or sound. While most NFTs are used in an artistic setting or for video games, they can be used in all sectors of industry, in finance such as film, notarial studies or education, the uses are almost endless. By its very nature, it can be integrated in DE metaverse, that is, in a series 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 might consider transferring our character from a blockchain A to a blockchain B, to give him access to a virtual world where there would be other characters from different games. With relatively limited use in art or video games, NFTs could be used as true proof of authenticity for diplomas or for a vaccine pass in the near future. In this case, it would no longer be possible to create a fake certificate as the blockchain would detect the fraud directly.

A virtual reality art gallery project for the Vatican

Humanity 2.0 is a non-profit organization that uses media and technology to overcome barriers to the socio-economic and cultural development of humanity. Sensorium is a company specializing in the development of virtual worlds. According to the official statement, this partnership aims to “develop NFT’s first-ever virtual reality gallery hosting Vatican art, content and academic initiatives.” This virtual art gallery wants to be as accessible as possible. The intention is to go there with a virtual reality headset to be in total immersion, but also with a computer, and even through a smartphone application. This VR art gallery is expected to be released in Sensorium’s metaverse, titled Galaxy. The latter should be launched in the course of the year.

NFTs: an opportunity for museums

Museums are increasingly interested in web 3.0 and NFTs. Indeed, the technologies in this area can enable the 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 the collection, which consists of 800 pieces created by 250 renowned artists.

-> More information about NFTs: What is an NFT Token? – Full 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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