Intro to EVT tech structure and innovation
What are NFTs?
Most people have heard of NFTs (Non-Fungible Tokens), it is a unique asset that cannot be interchanged or replaced by an equivalent token. NFTs can be in the form of digital art such as music, videos, collectibles, and it can also be real-world items such as tickets to events. It is simply a technology form that can be circulated virtually on a blockchain technology, and verifiable through smart contracts.
What comes after NFTs?
As the NFTs market is transforming, fundamentally investors, artists and creators are asking what comes after NFT? Introducing EVTs (Encrypted Variable Tokens). EVTs are an upgraded unique identification code and metadata that can add encrypted variable functionalities to the cryptographic assets based on the blockchain technology. These new tokens are uniquely used as placeholders for all metaverse items and creations; and innovated by the tech team at Newton (NEW) blockchain. It is ownership with privacy. EVTs are currently being implemented on the Entertainment Asset Dapps called Wave, and BitPenguin Studio.
How EVTs can be utilized in the future:
In the near distant Metaverse future, an EVT could represent more dynamic avatars. These avatars can be born, grown, altered, and some may even have a death date. The Metaverse is our imaginative oyster. Users can own a virtual EVT celebrity and make changes to their clothes, accessories; and even change body shapes and genetic makeup. Fans can easily wine and dine with the virtual being, and even swap metaverse bodies with their favorite icons to experience celebrity lifestyle. Ambitious users can continuously help grow the Metaverse environment by purchasing its roads, buildings, structures, plant life, etc.
Owned EVT celebrities can have real film screentime in upcoming movies, tv series, or music videos. These virtual avatars can have different accessories and clothing in various scenes. All the items within the scene will be tradable and have asset gaining potential.
Differences between NFT and EVT?
The differences between NFTs vs EVTs would be that NFTs, from a smart contract perspective remains static assets whilst EVTs are assets that can evolve dynamically over time and have various programmable parts within its smart contract, making it versatile and more private. EVTs, innovated by the Newton Blockchain supports the development of Metaverse expansion. EVTs can be used in all assets entertainment related within the Metaverse. Users can have a fuller relationship with their digital assets through various interactions and enjoy a whole new level of imaginable experience that is more dynamic and functional. We are looking forward to the coming years of EVT development to see the next level Web3 creations.