UNIC META-511 Study Notes for 2022 Fall Semester

Hello dear reader, and thank you for dropping by!

This article is a summary of notes taken during the Fall 2022 semester of the University of Nicosia’s online course, META-511: NFTs and the Metaverse. Originally a series of Twitter threads, I decided to back them up and could think of no better way than a Mirror article. The original thread is linked below:

The course materials including presentations and videos can be found on the UNIC META-511 github account here.

Each topic consists of one to four sessions comprised of lectures and panel discussions. If you are new to Crypto and NFTs I recommend going through the sessions in the original order. If you are already familiar with general concepts, then feel free to pick up whichever note that piques your curiosity.

Hope you find them helpful!


Session 1: What is an NFT?

The opening session where you will learn how NFTs can represent ownership by digitizing social conventions that exist in society. Once you see the similarities in how transactions work for both digital objects and real estate purchases, you can glimpse how NFTs have the potential to revolutionize the way ownership is recorded and enforced.

They may even enable us to align activity in a decentralized manner; something that has never been possible before.


Session 2: Copyright and Provenance in NFTs

This session gives a primer on intellectual property (IP) and trademarks. While NFTs offer a new way to transact, it is important to note that laws around IP and trademark protection still apply. NFT projects have created licensing agreements in an attempt to fit digital assets into these existing frameworks, but it is not a perfect fit and ambiguity remains.

How we reconcile ownership of an immutable token on the blockchain with the IP rights to the underlying content tied to the token is still an open question.


Session 3-1~3: PFP NFTs

The next 3 sessions cover profile picture (PFP) NFTs, a category that served as one of the main catalysts for the surge in popularity of NFTs in 2021. The lecture explains that while the concept of a PFP is not new, the ability to pseudonymously organize a community is something only recently enabled by NFTs.

Guest speakers share their first hand experiences in establishing PFP projects. Learn from Gargamel how the Bored Ape Yacht Club came to life, as well as from 4156 about remix culture and how the Nouns are an experiment in composability.


Session 4-1~4: Art NFTs

The 4 sessions that follow are dedicated to diving into art, artists, and how NFT technology has created new forms of expression. The lecture is a great starting point in learning about crypto art and how verifiable provenance builds “lore” around digital items. Guest speakers and panelists with expertise that range from digital, AI, poetry, and photography share their backgrounds and learnings, as well as their thoughts of the future.

Would you like to know where the name Beeple comes from? How about what inspired Drift to his first urban exploration? Do you know the meaning of “dankness”?

It is all in these four sessions.


Session 5-1~3: Generative Art

Generative art has demonstrated a good fit with NFTs whether it be through randomized minting, verifiable ownership, or transferability. While it predates NFTs, it has been able to gain more traction by being ownable and tradable through the blockchain.

Learn about the origins of ArtBocks, the premier platform for generative art, from Snowfro himself in the guest speaker session. You may find inspiration in the origin stories of such digital artists such as Helena Sarin, Ix Shells, and Matt DesLauriers in the panel discussion.

NFTs have made digital art more accessible than ever.


Session 6-1~2: Key Considerations in the NFT Space

These sessions give you an opportunity to re-examine why we are drawn to collecting objects in the first place. The value of NFTs can vary depending on rarity, aesthetics, and the timing of mint. Never before have objects whose traits are clearly cataloged been so easily transferable, and open a new world to would-be collectors.

Once you have an idea of why NFTs can hold value, the conversation between 6529 and Artnome will give you reason to think twice about where your precious NFTs are stored.


Session 7-1~2: Gaming NFTs

The next two sessions covered gaming NFTs, ownership of in-game digital items, and why we have yet to see a blockchain game gain mainstream acceptance (hint: making a good game involves a lot of varied skill sets!).

The discussion between 6529 and Yat Siu of Animoca Brands is a great primer on how to think about in-game economies as well as the importance of network effects when scaling up users. The more composable in-game items are, the greater the economic activity.


Session 8-1~2: What is a Metaverse?

The following sessions explore the Metaverse from both a conceptual and practical perspective. The lecture is full of definitions and frameworks, but one main takeaway is that we are in the transition phase towards a more immersive digital experience.

The panel discussion invites experts in digital brands (Charli Cohen), VR (Maxim Perumal), and digital spaces (Rayan Boutaleb). If you have questions on the how and why of the Metaverse, this is a great place to start.


Session 9: Trends in Visualization Technology

This session focuses on the key technology needed for immersive digital experiences: visualization in headsets. Learn about the differences of AR, VR, and MR, as well as the latest developments to reduce motion sickness in digital environments.


Session 10-1~2: Financing models in the NFT and Metaverse space

These sessions focus on the financing aspects of NFTs. The lecture provides an overview (educational purposes, not financial advice) of current securities law and where crypto and NFTs fit into that framework. if you need a quick primer on the Howey Test in the context of crypto, this is a good place to start.

The guest speaker Fred Wilson brings great insight accumulated since his first encounter with bitcoin in 2011. The session will energize you by giving a glimpse of how digital ownership can change existing systems in society.


Session 11: Representing Off-chain Objects with NFTs

This session is full of actual examples of how physical items can be linked to NFTs to not only prove authenticity, but also expand the possibilities of ownership and social signaling. Gmoney’s origin story is also a great example of finding opportunity by observing trends around you (e.g. gaming skins).


Session 12-1~2: Metaverse 2030

If the previous sessions espoused the benefits and importance of decentralization, these last sessions highlight the dangers of centralization and remind us how we must be vigilant of erosions to our freedom.

The monumental advances in AI tech, CBDCs (Central Bank Digital Currencies), and Big Data collection represent massive changes that we will have to navigate over the coming years. Cryptographic verification and immutable assets are fundamental tools for the upcoming future both in real life and in the Metaverse.


Subscribe to Semui
Receive the latest updates directly to your inbox.
Mint this entry as an NFT to add it to your collection.
Verification
This entry has been permanently stored onchain and signed by its creator.