To understand NFTs, it is important to understand the system they exist in. NFTs are part of a blockchain, which is a large, decentralized set of highly protected data. These blockchains protect data and make it available to only those authorized to view it.[1]

Blockchains can be used for many different purposes, but the two most well-known applications are cryptocurrency and NFTs. A cryptocurrency is essentially a digital currency protected by the blockchain and not created by a central authority.[2] This makes the cryptocurrency extremely difficult to counterfeit, as well as relatively free of governmental influence.

Likewise, an NFT is a piece of digital content which has been embedded in the blockchain for Ethereum, a cryptocurrency. Being embedded in the blockchain makes NFTs, be they pieces of art, documents, or any other information, completely unique and identifiable. This makes the owner of the NFT verifiable, making the actual ‘ownership’ of digital content possible [3]. Many, such as Mitchell Clark from The Verge, liken it to owning the original of a famous painting. Despite the numerous copies available of almost any famous painting ever created, there will always only be the one original. NFTs work on the same concept of ownership. Anyone can download the image of an NFT, but it still won’t be the NFT, as the copy lacks the verification from the blockchain.

So, now that we know a little bit more about NFTs, one may ask what the implications are for such items? It seems that much of the focus on NFTs is around the sale of digital art. As mentioned above, the draw of some to NFTs is the ability to be a verified owner of a digital piece of content. This has seen digital artwork explode in price, with some NFT art pieces going for well over $50 million. This, though, carries many of the hallmarks of an economic and cultural bubble, such as the rapidly inflating price of many NFTs, and a staggering number of scams being conducted.

However, NFTs are not just art and inflated prices. As stated before, any form of digital content can be an NFT, and having the ability to verify the authenticity and ownership of a document digitally, without the need of paper copies, authentication numbers and the like. These types of NFTs could work to counteract the counterfeiting or forging of documents such as contracts or deeds to property. 

In the end, we will just have to wait and see if these more useful forms of NFTs manage to gain a larger foothold in everyday life, or if their poor reputation and nebulous existence proves too much to overcome.

[1] https://www.ibm.com/topics/what-is-blockchain

[2] https://www.investopedia.com/terms/c/cryptocurrency.asp

[3] https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq

The metaverse is a concept created and developed by Meta (formerly Facebook) and based on Virtual Reality (VR) technology. VR technology utilizes headsets that are worn by users that project a completely fabricated 3D environment around them. This 3D environment can be interacted with via the use of handheld controllers, which are projected into the world and act as ‘hands’. Essentially, imagine the Holodeck from Star Trek but with headsets and controllers instead of a giant room hologram.

Using VR headsets, Meta is attempting to create virtual spaces wherein people can work, shop, and entertain themselves. In the Metaverse, at least as Meta has marketed it, people will be able to create avatars of themselves and socialize, work, and perform leisure activities in a whole new way. A user in San Francisco could watch a movie with someone in London and have their friend right next to them in the virtual space. Or you could virtually shop in a grocery store without actually leaving your home. However, Meta’s primary focus seems to be on virtual workspaces.

Since 2020, there has been a heavy shift towards remote work in many sectors and professions. The Metaverse seems to be trying to straddle the middle-ground between in-person workspaces and completely remote work. Using the Metaverse, employees could theoretically work with one another ‘in-person’ without having to leave a home office. Meetings could be had from different continents, but everyone is sitting at the same table in a virtual meeting room.

Conceptually, the Metaverse is attempting to make the science fiction concept of a completely virtual world a reality. It is trying to blend real life experiences with technology while providing a service that movies and shows have teased us with for decades. However, it remains to be seen if a virtual universe is actually something anyone wants. So far, the response to the Metaverse outside of Meta itself has been decidedly lukewarm. Some may see it as a novelty but may quickly lose interest once it’s no longer new. Some may find the Metaverse to be another in a long line of tech ideas that try to fix things that aren’t broken. Whatever anyone’s view may be, it seems that Meta truly believes in its creation, so we’ll surely see more of it the next few years.

Companionship

In the past two years, many Americans have been vocal about the lack of companionship and loneliness brought on by the pandemic. It has definitely been hard to find a way to keep company, but pets are a great way to combat this. While an animal is a massive commitment that requires a lot of consideration and preparation, they are nonetheless a great way to help a home feel more alive and fuller, especially for those living alone.

Animals provide consistent company, even if they are more solitary animals like cats. Many cats warm up to their humans with time and, after a few months, can be nigh-on inseparable from their owners.

(Ironically) Responsibility

Anyone who has owned a pet will tell you: they’re a lot of work! Between vet visits, litter boxes, food, and other essential activities, pets can be quite a bit of responsibility. However, they are great for children and young people who’d like to improve their level of responsibility and reliability. It is always good to have an adult that will also take care of the animal if the child has trouble, but they can be a great way for kids to learn how to care for a living thing.

Of course, this alone is not a good reason to get a pet, but having a fluffy companion for your child to bond with and care for can be great both for their level of responsibility and general happiness. After all, who’s ever met a child who didn’t love fluffy things?

Mental Health

Americans often have mental health struggles, especially younger Americans. Thankfully, many resources have become much more accessible in recent years to aid in these struggles. However, mental health care requires a multi-path approach, including changes to lifestyle and habits. Oftentimes those struggling with mental health will decide to get a pet to help improve their mental state, and there is some evidence to suggest they do in fact help!

According to a 2017 review of studies conducted by the Universities of Liverpool, Manchester, and Southampton in the UK, found that there is some evidence for the positive impacts of pet ownership on mental health. Of the seventeen studies examined, fifteen found some positive attributes of pet ownership for those suffering from mental health issues. Although more research is necessary, it seems that your furry friends can help keep you a little more grounded!

Allergy and Asthma Aversion

Many of us suffer from allergies in our day-to-day life. Whether seasonal, food, or medication-related, allergies are a reality of life for many. Well, as it turns out, your furry friends can help with that too! A study conducted in Australia by the University of Sydney, Utrecht University, and the Woolcock Institute for Medical Research evaluated 224 Australians over the course of twenty years to determine if owning pets had any effect on a person’s likelihood to develop asthma or atopy (an immune issue that makes you more likely to develop allergies.)  

Over the course of the study, it was found that people who owned cats before the age of eighteen, and those who owned cats both before and after eighteen showed greater protection against asthma and atopy symptoms. So a little furry companion can help protect children and teenagers from future struggles with respiratory issues!

Heart Health

Heart health is a big concern for older Americans. Whether it be stress, weight, or general health, many may be concerned about the health of their heart. But once again, cats are to the rescue! A study by the University of Minnesota explored whether cat ownership has any effect on the risk of cardiovascular disease in their owners.

The study found that cat owners had a noticeably decreased risk of cardiovascular diseases. This was suggested to be due to the natural calming effect that cats can have on their owners when cuddling or petting them, but could also be due to some traits inherent to people who are naturally cat owners. Nonetheless, a cat cuddled up with you on the couch seems to be a much more exciting tool for heart health than exercise!

Take Away

Cats aren’t for everyone. Not everyone is as charmed by their furry shenanigans as others, and that’s totally okay! But if you’re someone on the fence about getting a pet, either for yourself or for your child, maybe a few of these benefits resonate with you. Cats can be a great addition to any family, and your local shelter would jump at the chance to give one or two a good home. So, if you think you could benefit from a cat in your home and an addition to your family, perhaps it’s time to take a look at your local shelter’s website?