Non-fungible tokens (NFTs) began as tamper-proof ledgers to authenticate and guarantee collectors’ ownership of works of art. However, since their inception a few years ago, NFTs have gotten much bigger. Many projects now claim to seek to create new forms of value and utility. So far, many of them have been centered around community building and intellectual property. However, to date, no notable project has attempted to focus on the potential of the underlying technology that is blockchain.
At the same time, the growing popularity of the Metaverse concept and Web3 culture has led many enthusiasts to identify themselves with NFTs in the form of profile pictures (often referred to as PFP for short). While this has proven to be an interesting way for holders to showcase their growing collection and participation in the Web3 space, there does seem to be potential for something more meaningful. Namely, NFTs are often static unless the creators, rather than the holders, choose to pass updated or adjusted designs onto the chain. In turn, PFPs only represent what we own, not who we are or how we have actually evolved as digital natives and Web3 contributors. This is somewhat ironic given the ever-changing nature of the Web3 space.
Enter Arcana Project, a Web3 project that aims to bring blockchain use cases to life with dynamic, complex, and durable virtual profiles that grow with the real and virtual worlds of their users. If successful, they could simply redefine the integration between real life, Web2 and Web3, and even change the way NFTs are used as digital identities.
These dynamic avatars will be able to represent various gaming and social achievements of the owners. In addition, the experience of players in web games will also be recorded as their build is strengthened through a partnership with CliqueThe personality of oracles. They will be combined with Arcana’s patented technology at the same time for a web3 gaming experience. The end result is a comprehensive record of users’ online games and social networks.
Games have changed thanks to soul-pegged tokens
In essence, the Arcana project believes that more needs to be done to legitimize the space and give it real value. That’s why they are building a digital identity platform that allows users to customize their NFTs. This customization will be achieved through asset characteristics that reflect actions and achievements in the real and virtual worlds.
The combination of advanced data scanning algorithms and Soulbound Tokens (SBT) will enable this vision to be realized. These SBTs represent player achievements and are used to unlock add-ons for base avatars. In turn, the underlying NFT becomes dynamic and truly adapts to a person’s own digital identity. Project Arcana aims to first create game-related data streams before extending its identity and customization services to social media in general.
For those who want to know more, Soulbound tokens are a relatively new concept based on NFT technology. It should be noted that SBTs can introduce new paradigms of use cases in the Web3 space. After all, in the digital world, every action we take leaves a mark. Take games, for example: everything from high scores to unintentionally tapping a skill at the wrong time too many times is digitally recorded. Some of these high scores are used by game creators to reward you with in-game achievements.
However, most if not all of these achievements are of no use in the real world or even the digital world outside of the game they come from. Moreover, many of these records are not used at all. Project Arcana sees such underutilized data pools and lack of integration outside of specific games as an opportunity, and SBT is what could allow them to bridge those gaps.
As SBTs take the NFT app to the next level, digital natives will be able to capture their identity and achievements in games (and social media iterations later). These data points can then be stored and displayed in immutable and verifiable virtual portfolios. Not only that, Arcana aims to take this dynamic identity concept a step further by allowing players to connect based on similar accomplishments, interests, and goals, all powered by blockchain-issued SBTs. What cascades are the transformation of little-used data into captured memories, into meaningful achievements to be proud of.
ArcanaHQ’s Vision of Heritage Identity
As a starting point for its ambitious dynamic virtual identity project, Arcana will release a collection of unique NFTs. These avatars are meant to serve as the backbone of the larger Arcana ecosystem.
Inspired by various games and virtual worlds, the Arcana collection consists of eight different character classes defined by lore elements, including personality traits and equipment. The division into classes is intended to reflect the diversity of amazing people who inhabit the world, and the many talents that each of us has by nature.
Arcana is created by Promisphere, a web company looking to improve the intersection of social media, gaming, and NFTs. With the support of their investors, the upcoming collection of NFTs will set the stage for a much larger identity building effort that will span both Web2 and 3 gaming communities before eventually spilling over to digital natives in general.
Dynamic NFTs will usher in a new era of Web3 communication. Beyond purely gaming use cases, SBTs have the potential to completely change the Web3 space. Acting as dynamic identities, these tokens can help communities come together much more productively.
Bringing Digital Identity into Real Life
As part of its drive to enhance its digital identity, Project Arcana is also collaborating with ChapterX, which designs and manufactures accessories based on Web3 technologies. ChapterX’s flagship Web3 network card uses decentralized identity technology to bridge the gap between offline and online worlds. Users can showcase their blockchain-verified identities in physical settings by tapping a card on their mobile phone, and then effectively interact with and manage all established connections.
Arcana and ChapterX will introduce a new form of gaming identity by bringing the worlds together with the Arcana Card. With it, owners and gamers will be able to showcase their online achievements and connect with anyone with one simple tap.
Project Arcana is a pioneer of this concept in the context of the blockchain gaming ecosystem. However, the potential for further implementation is almost limitless. Those who believe in the true potential of blockchain can check out the platform. Official website and follow Arcana Twitter to be aware.
“We believe that moving forward on Web3 requires the cooperation and support of the entire ecosystem. Projects, founders, communities and content creators play an important role. With these foundations, we hope to introduce new use cases for technology to legitimize the potential of blockchain and instill greater cohesion in our ecosystem.”
Stanley (CEO of Promisphere)
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Credit : cointelegraph.com
