Overview
The rapidly developing Non-fungible Token (NFT) and metaverse landscape hold incredible potential to shape the future of technology as it lays the foundation for the virtual worlds of tomorrow. The increasing shift of the post-pandemic world towards online interactions and the rising adoption of Web3 technologies has created unprecedented opportunities for the NFT and metaverse industry. However, the fledgling industry is fraught with challenges it needs to overcome in order to cater to the growing global requirements. Currently, the industry implements highly exclusive architecture on fragmented blockchain protocols. It has resulted in the adoption of inefficient business models with questionable real-world use cases due to a lack of innovation. The current trajectory of the industry offers limited benefits to both the ecosystem as well its stakeholders.
The need to transform the industry is evident to those who look closely with an objective outlook. 7Pixels aims to bring such transformation early on by creating an NFT-Metaverse landscape that is rooted in freedom and inclusiveness while offering real value to all the stakeholders. The project intends to build a democratized architecture with an all-comprising business model that integrates decentralized finance (DeFi) functionalities, unlocking financial opportunities and real-world utility of NFTs in the process.
7Pixels deviates from the typical buyer-seller model that is prevalent in the market by enabling stakeholder participation across the value chain. The project adopts an approach that allows it to unlock the ecosystem’s value through an innovative NFT rental and collateralization model. In addition, 7Pixels will also create a metaverse-based economy by facilitating various social and business activities including exclusive exhibitions, co-working spaces, concerts, and more in the virtual world.
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