DIA is aiding the emergence of the metaverse by creating the tools to connect NFT ecosystems with Decentralised Finance, using data and NFTs.
Zug, Switzerland, September 7, 2021 – DIA Association has launched data provision services for the fast growing NFT ecosystem, as a way to connect the explosive growth of defi to the metaverse – a collective virtual shared space, the vision of which is leading growth in VR, AR, AI and blockchain.
The announcement follows in the wake of a staggering growth of NFT trading volume and new projects in the metaverse, led by NFT projects such as Bored Ape Yacht Club and Crypto Punks. DIA’s new tools will provide a core building block to enable connectivity between currently disconnected NFT ecosystems, bringing new use cases and connecting disparate ecosystems.
”The emergence of the metaverse is by no means new. Technology has been converging towards this for decades. The new and still nascent web3 technology stack will enable a whole new level of innovation and speed in adoption.”, Michael Weber, Founder at DIA says.
“We will see use cases that no one can even think of today. One thing is clear however: Data will be the key element tying together the still disparate landscape and creating a connected and harmonised metaverse.”
Interconnectivity will fuel innovation and new use cases
DIA’s move builds on the hypothesis that interconnectivity, fueled by data that works across networks and platforms will spur innovation and the development of new applications.
The expectation is that this will lead to a boom in use cases for digital assets and NFTs, as well as new classes of collateral and lending products for DeFi platforms using NFTs, the portability of digital items between ecosystems and many more.
DIA to announce launch of data access NFTs during Decentraland panel
As part of this expansion DIA is announcing the launch of its Autonomous Rights Tokens (ARTs). ARTs are NFTs that provide a specific utility: ARTs act as keys for smart contracts to access DIA oracles, which provide a reliable source of information for all connected services.
ARTs reference the sources and rights under which the data is provided. This enables a permissionless, automated data license tracking system. ARTs also provide incentives to early minters, effectively accelerating the sourcing of new data sets.
The first set of ARTs will be made available today via a special announcement during a DIA panel taking place in the virtual world Decentraland. Once live, a set of 150 limited edition ARTs can be minted. These genesis ARTs will mark the first distribution of access keys for metadata of 15 of the most relevant NFT projects currently live.
DIA (Decentralised Information Asset) is an open-source, financial information platform that utilises crypto economic incentives to source and validate data. Market actors can supply, share and use financial and digital asset data. For more information, visit diadata.org.