Development of a product that uses 3D Non-Fungible Tokens (NFTs) to bridge the gap between the digital and physical world

Abstract

Nowadays, the digital space is gaining more and more relevance in our daily lives. Transactions, documents, education, meetings, and social activities are being digitalised. Companies from around the globe are making steps and taking initiatives to lead the change with concepts like the “metaverse”. Parallelly, blockchain technology is helping the evolution from the traditional internet to the so called “web 3”, a new concept where decentralisation is key, and revolutionary concepts such as digital ownership and authenticity are more possible than ever. In this scope, the graduation project takes place.

Due to the fast changes the digital environment has suffered in the last year 2021 with the surge of the NFTs and the serious investments in the development of “metaverses”, I intend to understand what problems users have while interacting with NFTs to promote this change and remove possible barriers for the adoption of the technology. The focus, therefore, is on the uses of NFTs and how the consumers interact and experience them. The goal is to detect a problem in this regard and propose a solution that improves the current state of the art. Thus, the work conveyed consists of a study of the general environment, industries, users and their problems and a definition of a problem to solve. Afterwards, I provide a solution to the problem detected.

In the study conducted I pinpoint the current trends of NFTs as a hyped and niche market, but with potential to become mainstream in the mid future (5 years). Accordingly, a problem that could prevent this to happen is detected as result of engaging with the users and their current use of NFTs. Here, the present scenario for showcasing NFTs is highlighted as an issue and potential roadblock for the mass adoption of the technology.

The solution developed does not only focus on the user problem but also on the underlying limitation, the technical existing constraints when visualising NFTs. The result of the graduation project not only solves the problem detected, but also improves the current state of the art and sets a solid ground for NFTs to unlock their maximum potential. This is achieved with the use of advanced technologies like Augmented Reality and concentration on the user’s desires.

Finally, future recommendations are suggested to improve the deliverable, including all the functionalities required. A fully working prototype will shed more light to the results obtained and give the users the true complete desired experience.