A New Chapter in Cyberculture: NFTs Paradigm Shift

Abstract

Since the bitcoin invention in 2008, blockchain technology has surpassed so numerous innovations that the pioneer networks such as Ethereum are adaptable to host a bunch of decentral information containing pictures, audio, video, domains, Etc., or even a metaverse versatile avatar. The transformation of tangible goods into virtual assets, known as the AR-utility of luxury products, and the intermixture of reality and virtuality organized a worldwide, semi-regulated, and decentralized marketplace for digital goods. Non-fungible tokens (NFTs) are doing a great help to artists worldwide, sharing diverse cultural outlooks by establishing a remote cross-cultural corporation potential and, at the same time, metamorphosizing the intermediary role and ceasing the necessity of a well-known art sale's approval. Meanwhile, the cryptocurrency market has already acquired allocation and interest in the global domain, paving the way for a flourishing enthusiasm among entrepreneurs preoccupied with high-tech start-ups. In this qualitative survey based on participatory observation fieldwork, we shall decipher through self-exploration to investigate the ups and downs of the new cyberculture environment. Empirical encountering diverse Social Network Sites (SNS) and following the Cryptocurrency X(Twitter) trends, we have concluded that social media were the assembly line, producing success stories day and night which empowered a decentral market to surpass 14 billion worth of united states dollars.