NFT stands for a non-fungible token that is encrypted into the blockchain of a certain cryptocurrency (usually Ethereum). It represents the ownership proof of any type of data embedded in NFT. Therefore, it allows you to transfer, sell, monetize that data, or receive royalties from it. This technology is relatively new - it appeared in the first half of 2021 - but it has already become an extremely popular concept that more and more people invest in.

A blockchain is a decentralized database that is shared among computer network nodes. A blockchain acts as a database, storing information in electronic form. Blockchains are well-known for retaining a secure and decentralised record of transactions in cryptocurrency systems such as Bitcoin. The blockchain's distinguishing characteristic is that it guarantees data record integrity and security while also building confidence without the need for a trusted third party.

The concept of NFT is very closely connected to the Metaverse - another high-tech term we were using. The term "metaverse" was first introduced in the novel "Snow Crash," written by Neil Stevenson in 1982. It was a fictional idea of a virtual place where characters could escape from their everyday life. It is not a rare case when fictional ideas resonate in reality, and Metaverse, recently popularized by Mark Zuckerberg, continues to acquire a lot of attention globally. Metaverse becomes the virtual world where people can connect, work together, attend concerts, and visit art galleries. The concepts of NFT and Metaverse expanded the definition of imagination and provided an opportunity for creative people to monetize their intellectual property. Moreover, Metaverse can be used to connect people globally and organize events in virtual reality. This concept we utilized in our project.

Artists are no longer dependent on exhibitions or auction houses to sell their art. Instead, the artist can sell it directly to the consumer as an NFT, allowing them to keep a larger portion of the profit. Additionally, artists can incorporate royalties into their program so that when their product is sold to a new owner, they receive a portion of the proceeds.

Artists are no longer dependent on exhibitions or auction houses to sell their art. Instead, the artist can sell it directly to the consumer as an NFT, allowing them to keep a larger portion of the profit. Additionally, artists can incorporate royalties into their program so that when their product is sold to a new owner, they receive a portion of the proceeds.

Artists are no longer dependent on exhibitions or auction houses to sell their art. Instead, the artist can sell it directly to the consumer as an NFT, allowing them to keep a larger portion of the profit. Additionally, artists can incorporate royalties into their program so that when their product is sold to a new owner, they receive a portion of the proceeds.

In most cases, when a person passes away, their body gets buried at a cemetery in their hometown. Therefore, everyone who wants to take part in their funeral procession, commemorate them, and share their tributes to this person with other participants must travel to that specific town. There is currently no such place where people could do all of that remotely, regardless of where they are. Our project aimed to provide a place where people can not just visit the passed person's memorial to commemorate them and learn about their data; it can also be used as a place where funeral events can occur. Visitors will be able to join the procession in V.R. or from their P.C. During this procession, they will be able to see other participants of the event, talk with each other, and, of course, share their tributes about the departed person. Besides our project, Metaverse can be used for other events such as sports competitions, family gatherings, art and technological exhibitions, etc. The Metaverse has an enormous potential to connect people throughout the world.

Initially, we have been spending weeks gathering all the data from that customer that they wanted to include in the memorial. This data was structured into several categories and pages such as "personal life," "accomplishments," "Personal photos," etc. Afterward, we created an account-like memorial of the client on our website. We designed the best memorial page layout according to the client's preferences with constant consultation.

After the whole memorial page, design and structure are approved by the client, and we create an NFT from it on a preferred NFT platform (by default, it was Raible or OpenSea). OpenSea is a game-changing blockchain technology that allows non-fungible tokens (NFTs) with in-game functionality to be created. The Ethereum blockchain is used to store these NFTs. This means you may exchange them using any ERC20 compliant wallet swiftly and securely. Developers will no longer need to create their own marketplace for gamers to purchase and sell digital assets thanks to this new technology. The page was tied to a decentralized blockchain, and we could transfer this NFT to the client's account. The NFT technology tied the contents to a blockchain of a certain cryptocurrency (in most cases, ETH) which allowed transferring data ownership between users and works as proof of that ownership.

When the process of NFT creation is over, if the client wants to, we could create a 3D memorial to be placed in our Afterlife Hub in the Metaverse. To complete it, we contacted the client and gathered their preferences on what the memorial should look like. During the next stage of development, we worked with our 3D designer, who implemented those desires within the limits of the area assigned to the memorial in the Afterlife Hub. The next step would be to create one more NFT, but now it would be an NFT of the 3D memorial. It would allow our clients to bind the owner of that memorial to themselves. Then, we set up that memorial in our Afterlife Hub and included it in our navigation system so users who visited the Hub could get to that person's memorial with no difficulties. In the future, we are planning to help the departed person's family arrange a metaverse funeral event in the location where the passed person's memorial is placed. In the end, depending on the client, their NFT art piece collection could be presented in the location of their digital memorial in Metaverse.

NFTs and Metaverse became buzzwords in the current digital environment. While Entrepreneurs, artists, or curious tech-savvy geeks of different ages are diving into this emerging trend, it is still the area of research for the large enterprises whether they are ready to put a significant investment into it. In the emerging digital environment, NFTs have become a trend available to people of different ages and specialties, while Metaverse is something that is already here but only starting to show its real potential and opens incredible possibilities for the future development of the digital ecosystem.