NFT AND BLOCKCHAIN AS THE FOUNDATION OF THE METAVERSE ECONOMY

Abstract

With Facebook officially changed its name to Meta in Oct. 2021, a new stage of digital revolution has begun, as the metaverse has become a new norm of social networks. Blockchain and NFTs, or non-fungible tokens, happened to be the cornerstones of the modern era. The thesis examines the influence of the two technologies on digital market. Key models such as Play-to-Earn and Create-to-Earn are analysed and their impact on virtual commerce is being highlighted. By reviewing the implementing modern ideas and of legal aspects, the thesis forms an idea of how the global economics would look like.