NFTs are unique (one-of-a-kind) tokens that serve to track the provenance and authenticity of rare virtual collectible items such as art and sports cards. NFT stands for “Non-Fungible Token”. A fungible item can be exchanged for another item that is the same. A non-fungible item cannot be exchanged for another because it is completely unique. NFTs can be bought and sold using blockchain technology.

Most NFTs are part of the Ethereum Blockchain however, other blockchains have the ability to implement their own versions of NFTs. At the moment, NFTs can be anything digital. An interesting component of the NFTs craze is that you can copy any digital item as many times as you want but what makes NFTs special is that each digital item can be marked as a specific and unique digital commodity. This allows the provenance of the item to be known. Think of it as owning a print of a Dali painting as opposed to owning the original. Only one person can own the original, whereas many people can purchase the prints. The original obviously has more value.

The metaverse is a series of 3D virtual worlds focused on social connection. It is a proposed expansion of the internet. The first metaverses came in the form of video games. Games such as Roblox and Minecraft are metaverses. Metaverses are expanding beyond the video game now. Future metaverses will provide a virtual space where users, in the form of avatars, can interact and transact. It is also possible to create a metaverse within a metaverse. Users will be able to explore a metaverse and go shopping for real world items. In games, users are able to purchase items for their avatar but in the next iteration of the metaverse, users will be able to purchase real world items that can be delivered to their doorstep. A metaverse will also provide a virtual place for people to work. A meeting on the metaverse will one day replace a meeting on zoom. Imagine a 3D environment where users can share and create powerpoint presentations or videos.

A marketplace is a platform where vendors can come together to sell their products or services to a curated customer base. The function of a marketplace owner is to bring together the right vendors and the right customers to drive sales through an exceptional multi-vendor platform. This allows sellers to have a place to gain visibility and sell their products, and the marketplace owner earns a commission for each sale. A marketplace differs from an online store in that an online store is a single store selling its own products online. In this case, all marketing and operations are managed by the company that owns the website and products.

Marketplace owners do not own the inventory their platform sells. The marketplace owner leaves the more operational side of the business to vendors while focusing mainly on promoting their marketplace brand with a view to driving traffic to the platform and converting site views into sales.

Wynwoodverse is the metaverse that we will be creating. It will be designed with the user in mind so everything in Wynwoodverse will be easy to use. We will create a world where users can interact, shop, play, and work. XLPG is the digital currency that will be used in Wynwoodverse. Users will be able to explore the metaverse and take part in a number of different activities. Owners of land in Wynwoodverse will be able to curate experiences for visitors. Early investors in Wynwoodverse who buy more than $500 worth of the token will have access to land in Wynwoodverse at a discounted price.