If Rudy Bouwman’s tweet on September 2 is any indication, DigiByte, one of the oldest, most trusted, and high-performance blockchain projects, may, after all, have solid plans to accelerate blockchain developments, including a metaverse with NFTs promoting the self-sovereignty benefit of decentralized blockchains.
Is DigiByte hastening platform development to include MetaVerses, NFTs, and other features?
While there are no explicit indicators for skeptics, Rudy, the vice Chairman of the DigiByte Foundation, is dropping hints that a metaverse with NFTs could be the next product in line and part of the project’s overall goal of possibly accelerating platform development to a more inclusive and tightly knitted system.
Rudy and the DigiByte team’s possible foray into the metaverse and NFT has been met with enthusiasm by crypto and blockchain enthusiasts alike. Analysts believe the space will be worth billions of dollars in the coming years.
With Rudy’s logo reveal, the blockchain could eventually release a metaverse for enterprise and consumer clients in the coming days, based on Rudy’s hints. Typically, metaverses rely heavily on NFTs, a hotly debated sub-sector that funnels millions of dollars to talented creatives.
If DigiByte eventually enters the NFT space, it will be delivering on one of the platform’s most eagerly anticipated products. The blockchain is intended for projects that require speed, decentralization, and security.
However, given the blockchain’s product offerings such as DID solutions and non-custodial operations, the DigiByte Metaverse may offer much more. According to Rudy’s tweet, the DigiByte platform could serve as a gateway and a foundation for developing enterprise and consumer applications for entities and consumers interested in incorporating solutions without having to divulge personal information or delegate control to a third party. All of these applications will adhere to the guiding principles of blockchain, which are security, trustlessness, and self-sovereignty.
However, there could be more in store for the DigiByte ecosystem. The unveiling of the logo indicates that the corporation has been formed, which is a good thing for investors. Furthermore, if their base layer is secured by distributed and more efficient nodes, their solution would go far beyond just NFTs. According to ThreeFold’s announcement, DigiByte may play a key role in providing secure solutions for corporate entities seeking energy efficiency, robustness, and a secure foundation.
Following their collaboration, DigiByte servers would run on ThreeFold Grid nodes, resulting in even greater decentralization. This is critical, especially as DigiByte seeks to engage enterprises concerned with energy-saving systems that are more decentralized and flexible.
Furthermore, news on development and education, as per Rudy’s tweet, could indicate that the project is realigning its focus to channel more resources toward education while doubling down on blockchain development. All of this would go a long way toward making DigiByte the go-to platform for offering secure, flexible solutions to businesses and consumers, an objective emphasized by Jared Tate.
In a subsequent tweet, Rudy stated that more announcements will be made in September.
DigiByte Current Entities: How Do They Fit In?
DigiByte (DGB) is an ideal payment system for individuals and businesses looking to avoid the high transaction fees associated with networks such as Bitcoin. Furthermore, there is a good chance that DGB will serve as the base currency for DigiByte’s MetaVerse technology, which is currently in development.
However, payment is not DigiByte’s only option. They have a decentralized identity solution called Digi-ID, which simplifies the way users log into websites without having to enter common identifiers like email or username. Access to the website is also password-free.
Following Rudy’s teaser tweet, network users speculate that the development team will launch their metaverse through DigiAssets. The solution is built on the DigiByte blockchain and allows for token issuance, smart contracts, DIDs, and much more.
By default, the off-chain platform, like layer-1 smart contracting platforms, supports asset tokenization (digital or physical). As a result, it is highly likely that DigiByte will be able to enable NFTs in a highly scalable and secure environment via DigiAssets. Given the current popularity of NFTs, this solution has the potential to be a star and one of the most closely watched in the upcoming metaverse.