Metaverse and NFTs – The Tiara Project

The Metaverse promises to be one of the hottest trends in the future tech world, which doesn’t surprise us. 

It is no coincidence that companies such as Meta Platforms Inc. (formerly Facebook Inc.) have declared their intention to invest billions of dollars in this business. Just think that today, the virtual real estate market is overgrowing, recording sales of even millions of dollars.

At the same time, the NFT market is also exploding. The idea of ​​proving the authenticity of a virtual asset is, in an increasingly digital economy, a winning project. Initiatives such as Tiara, the one we will talk about today, aim to make the most of the Metaverse and the NFT-economy.

The opportunities offered by virtual reality are so many, and, as many argue, the Metaverse cannot live without blockchain.

This review will impartially discuss the main characteristics of the Tiara project, understanding how it plans to enter the market. We ask readers to consider that Tiara is an ongoing initiative and, therefore, we will give new details on the project in the future.

The unique occasion coming from the Metaverse

“Metaverse” is one of the latest buzzwords added to the Internet’s vocabulary. Just like any other buzzword, it comes with two features: 

  • Everyone understands that the Metaverse will bring a significant change to the way we live our experience on the Internet
  • No one knows how to explain what the Metaverse is and how it will be able to gain importance in our lives

We do not need to be afraid of saying that we cannot precisely tell what we will do in the Metaverse over the following decades. However, as much as you could not think of buying a smartphone in the 90s by using a computer connected to the Internet, it is impossible to be precise on the future of the Metaverse.

It is excellent to accept this limit, and it may even be recommended. Only by understanding how much we do not know about something new, we gradually gain curiosity and study it. Each new project in the Metaverse helps humanity redefine its limits and potentials, teaching us what exactly we can do with it.

As of now, what we know about the Metaverse (and other Web 3.0 technologies) is pretty general. However, online may become a 3D dimension, leaving the old Web 2.0 technologies behind. For example, imagine e-commerces selling their products in a virtual store and no longer on a semi-static web page.

Social media are also expected to follow the trend, with meetings happening on web call apps but in virtual 3D rooms. Once you accept the idea of ​​virtual spaces, you have, as a consequence, the birth of a digital real estate market. 

Think, for example, of buying a virtual land lot, building a digital office, and renting it to a company. As you see, each assumption brings other ideas, with many theoretical possibilities.

What does Tiara offer?

What does Tiara offer

Tiara is a new project combining the features of the Metaverse and NFT technologies. If you are familiar with NFT websites, you will know how many of them tend to focus only on one specific topic. For example, there are online marketplaces for NFTs from the music world; others concentrate on gaming items, visual art, etc.

It is hard to find a website including all different NFT categories in one marketplace. However, put this idea into a Metaverse dimension, and you have a rapid representation of what Tiara aims to achieve.

Of course, Tiara is much more than this, with an internal liquidity system and an exciting auction mechanism, as we will mention later. It will also be helpful to speak about Tiara’s exciting new royalty system.

Tiara aims to cover a wide demand on the market, from users wanting to buy a digital artwork to those who need to meet a friend in the Metaverse. The Gamefi field is another exciting aspect of the project, with the possibility of entering a VR exhibition hall and seeing all the digital products connected to a game.

The whole system strongly relies on Artificial Intelligence (AI). Through AI, it will use a large set of data collected on customers to improve the virtual experience of each user.

Auctions, royalty system and fees

Any digital item can be auctioned on Tiara, and you do not need to be a famous artist to join the process. For example, imagine a musician composing a lovely song and deciding to upload it on Tiara. What would happen, at this stage, is that the system would generate an NFT, certifying the ownership of the song.

At this point, just like in the “real world”, anyone can buy that song or any digital asset on the platform. In addition, users can also set a royalty percentage on each virtual property, which is an exciting method to give more power to valid creators over copyright companies.

The process of creating an NFT from a digital asset is known as “minting”. Tiara sets a small fee payable through the internal liquidity process to mint an item. Then, each user can sell or buy NFTs on Tiara at a cost determined by the platform.

The project roadmap

In the minds of the project’s team, the whole Tiara initiative will go live in three phases:

  • Phase 1: the first preliminary operations that are necessary to launch the project
  • Phase 2: the marketplace will go live on the market, and the NFT technology will start shaping the future of the project
  • Phase 3: The project will start attracting institutional investors in this phase. This will let Tiara move its first steps to become a mainstream player in the Metaverse industry.

While this is just a simplified summary of the three phases, the project’s developers have included a clear, detailed plan on their public whitepaper.

Conclusions on the initiative

Conclusions on the initiative

The combination of NFT technology and Metaverse seems Tiara’s greatest strength. Indeed, one rarely sees projects aiming to cover so many sectors of our new digital economy.

The auction system appears to be a good game-changer in the way artists sell their creations. However, it is essential to remind that there are many applications of NFTs beyond the world of art.

Being an ongoing initiative, we will be happy to give new details about Tiara in the future. In the meantime, if you are curious about the industry, visit the project’s official website to learn more about its ambitions.

Binance Coin live price
Binance Coin
price change

For more information connect with the team via: Website | Telegram | News Channel | Twitter

Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects or cryptocurrencies listed, mentioned, or linked to on our site. Trading cryptocurrencies is a highly risky activity that can lead to major losses. You should consult your financial advisor before making any decision. Learn More

Stay up to date with our latest articles

More posts

Houston Texans Begins Accepting Bitcoin for Single-Game NFL Suites

The Houston Texans – a professional American football team – have entered into an exclusive partnership with the Houston-based cryptocurrency company, BitWallet. The partnership will allow the team to begin accepting crypto as payment for single-game NFL suites.  Effective immediately, BitWallet will act as an intermediary for crypto payments to the Texans. This allows digital assets to immediately be converted into U.S. dollars.  The first to purchase a suite using digital currency was EWR Digital, a digital marketing agency.  "We…

Mock Manchester Tokens Spike 3000% After Elon Musk Jokes About Buying Team

Some fake football tokens suddenly spiked on Wednesday after billionaire CEO Elon Musk announced in a tweet that he intends to buy Manchester United FC. However, when questioned on the authenticity of his announcement, the entrepreneur tagged it as a long-running joke. Musk Resucitates Defunct Coin With a Tweet On August 17, Tesla CEO Elon Musk made a tweet where he announced that he intended to purchase the soccer team Manchester United. Hours later, the MUFC token, a previously dead…

DYP Lists Across Coinbase and Huobi Ahead of Metaverse Platform Launch

Defi Yield Protocol (DYP) announced its listing across multiple leading exchanges including Coinbase, Huobi, and MEXC last month. It also recently provided details on its upcoming Metaverse platform, which will feature interactivity with Cats and Watches Society (CAWS) NFTs. Coinbase revealed the listing of DYP on June 21st, while trading started one day later. Next, MEXC announced it will start listing of DYP for the first time on July 19th. Huobi then added DYP to its platform on July 27th. …

LykaCoin – All-in-One Blockchain Ecosystem

LykaCoin is a multi-chain blockchain ecosystem similar to Polkadot and Avalanche but promising to be more competitive. Its goal is to add innovations, progressive views, and a different vision to the newly-built meta universe with the projects it will do and develop. Notably, it aims to attract them with zero gas fees and potentially unprecedented scalability. This LykaCoin review looks closer at one of the fastest developing blockchain projects in the industry. Read on to discover its features, tokenomics, and…

Real Yield: The Top DeFi Tokens for Generating Actual Revenue

This year’s brutal bear market has claimed a sizable batch of crypto startups and nascent coins. To weather the volatility, the long-term believers in decentralized finance (DeFi) are in search of one thing: “Real Yield.” The term has grown in popularity among those looking for hidden gems in the market for decentralized finance applications. More importantly, it marks an appetite for responsible crypto investment opportunities that can outlast a turbulent market cycle.  So what exactly is “real yield” in the…

Get Top Notch Smart Contract Audit and KYC Services for your Crypto Project with Solidproof

Solidproof is one of the top auditors in the crypto industry with an increasing offer of smart contract auditing, KYC, and marketing services. The German company has developed quickly since its inception in 2021, building a vast portfolio of prestigious and successful clients. The DeFi space is a nourishing environment for crypto and decentralized finance projects. However, it is also a breeding ground for scammers, multi-million hacks, fraud, and money laundering. Protocols running on faulty codes risk exposure to cybercriminal…

New Chinese Education Program Features e-CNY Smart Contracts

State-owned institution Bank of China has just rolled out an educational program that incorporates the nation’s digital Yuan and smart contracts. The Bank of China hopes the new feature could help mirror the possibility of using smart contracts in payments. The central bank's announcement emerged on Tuesday, August 16 via local news outlet Sohu.com. The Longquan Education and Training Program According to the report, the country's decision to leverage smart contract technology in the education sector is the latest in…

Celsius CEO Seized Control of Trading Operations Months Before Bankruptcy: Report

Celsius boss Alex Mashinsky may be largely responsible for many of the firm’s unprofitable trades leading up to its bankruptcy.  A new report from the Financial Times (FT) suggests that the CEO may have taken over trading operations back in January. He then took actions with company funds that overruled the decisions of other executives with multiple years of finance experience.  Mashinsky’s Massive Trades The latest info is according to multiple people familiar with the matter – though the information…

NFT Domains Platform Unstoppable Raises $65M Series A at $1B Valuation

Unstoppable Domains, the leading non-fungible token (NFT) domains platform, announced the closing of a $65 million Series A funding round at a valuation of $1 billion. The company said it will use the capital for developing new products and collaborations within the Web3.0 industry. It’s a big step for the platform, which saw prestigious investors joining this funding round. Among them were Pantera Capital, Mayfield, Gaingels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, and CoinGecko. Other big…

Crypto Lender Holdnaut Opts for Judicial Protection Amidst Troubles 

Earlier today, Singapore-based lending platform Holdnaut shared its plans to stay afloat during its ongoing liquidity crisis amidst the crypto winter. The company has filed an application for judicial management with the Singapore High Court. Liquidity Issues Holdnaut is yet another platform that felt the widespread impact of the Terra collapse. On-chain data and other reports indicate that the crypto lender may have owned USTC worth $150M at one point.  The company halted all operations, including deposits and withdrawals on…