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Japan-based conglomerate called Electronics partners up with Theta (a blockchain-based network for video delivery) to release NFTs (non-fungible tokens) that can be watched in mixed reality via the Spatial Reality Display (a monitor permitting people to see things in 3D with no necessity for using conventional 3D accessories) of Sony. The Spatial Reality Display trails the eye movement as well as regulates the display with the movement of the consumers, providing a 3D-based perception experience.

That is why, the CEO and co-founder of Theta Labs – Mitch Liu – is of the view that metaverses and NFTs at present possess an enormous capability for 3D visualization. In addition to this, Liu disclosed that presently the industry of NFTs consists of 2D videos and images. Nonetheless, the CEO of Theta Labs considers that 3D is already available in the metaverse. This signifies the requirement to allow the customers to showcase and visualize their NFTs with a physical presence.

As per an executive from Sony Electronics, Nick Colsey, the release of NFTs is a method to present the abilities of the latest Spatial Reality Display technology of Sony to the enthusiasts of metaverse and NFTs. He elaborated that the customers now can be facilitated with the 3D experience of the next generation without a 3D eyewear requirement. The non-fungible tokens of Theta present a new way to speed up the adoption of technology which is metaverse-favoring.

Theta as well as Sony will move on to launch an NFT named The Tiki Guy. The institutions will mint just 10 of the respective NFTs. The launch of this NFT drop is particularly being carried out for 3D viewership. Apart from this, the 2D versions of the series will additionally be made accessible for consumers. In the meantime, Chainalysis (a blockchain data venue) published a report in which it mentioned that the records of the previous year have approximately been surpassed by the NFT spending of this year.

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The respective report brings to the front that up to $40B in crypto was transferred to smart contracts. The respective smart contracts were connected with the marketplaces and collections of NFTs in the previous year. In this year (up till now), the very number has exceeded the figure of approximately $37 billion, which is a considerable elevation.

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Nathan Ferguson

By Nathan Ferguson

Nathan Ferguson is a talented crypto analyst and writer at Herald Sheets, dedicated to delivering comprehensive news and insights on the ever-evolving digital currency landscape. With a strong background in finance and technology, Nathan's expertise shines through in his well-researched articles and thought-provoking analysis. He holds a degree in Economics from the University of Chicago, and his passion for cryptocurrency drives him to stay up-to-date with the latest industry trends and developments.