NFT and blockchain in the Daniele Marinelli’s Metaverse

NFT and blockchain in the Daniele Marinelli’s Metaverse

Daniele Marinelli’s Umetaworld is the metaverse managed by the italian DT Circle ecosystem founder and on the company blog we check out lots of articles about its ecosystem and his approach to metaverse.

The Metaverse offers business organizations amazing opportunities to create value using innovative business models and introduces new ways to interact with their customers. This will also be applied to professionals in general and, in particular, to accountants who, within Web 3.0, will be able  to manage their clients. The first step concerns the use of non-fungible tokens (NFT), units of data stored on a blockchain to certify the ownership of a digital asset.

NFTs are cryptographic entities based on blockchain technology, which contain a right to a digital asset. The holder of a NFT acquires, in practice, the digital certificate of authenticity “embedded” in the token itself. The advisory activity of the accountants in the Metaverse will start here, with virtual money, and will develop over the typical areas, including accounting.

  1. The accountant’s job in the Metaverse: this is how it will be

To do this, it will be appropriate to move into a virtual reality of cryptographic Metaverse, founded on a decentralized blockchain, thus not controlled by the company that created it.

The most important aspect is that, operating on blockchain, the Metaverse uses the same infrastructure of tokens, i.e cryptocurrencies and NFTs.

In a nutshell, whoever joins the Metaverse also joins the broad cryptoeconomic network.

It is this protected network that accountants and corporate clients should join.

  1. What possible problems accountants will face in the Metaverse

The innumerable decentralized autonomous organizations (DAOs) present certain problems: cryptocurrencies are potentially unlimited and unregulated, but in reality a global regulatory regime is needed so that legal structures essential to the organizations’ operations can come to life. 

There are currently more than 5,000 DAOs, with over 570,000 actual participants out of millions of investors, and further growth is expected in the future. 

Another issue to be addressed will be a greater decentralization and a wider offer of platforms developed to grow the sector, but to do so would require higher skills from ordinary users, without mentioning investors and developers. Starting with advisors and, in particular, accountants. 

Improving the way crypto world is perceived and contributing to the growth of the fan-base will be the task of experts and institutions, with a strong focus on the creation of legal foundations most needed for the development of DAOs, in which advisors and investors can support the evolution of the sector.

At this stage, where we see many start-ups and the development of the first business relations in the Metaverse, another fundamental problem needs to be addressed, in addition to the purely technological aspects: the regulation of the transactions and the identification of an applicable jurisdiction. 

This will be an area in which the assistance of professionals in the legal and  economic area, particularly highly specialized lawyers and accountants, will be required.

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