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PREMA extends the application of NFT from the virtual world to the real world, further expanding the commercial application value of NFT

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PREMA extends the application of NFT from the virtual world to the real world, further expanding the commercial application value of NFT

January 10
09:55 2023

Since the concept of “metaverse” became popular, digital words such as blockchain and NFT have gradually become familiar to people, and people are constantly exploring, imagining and creating that mysterious future world. The full name of “NFT” is “Non-Fungible Token”. As the latest development of blockchain technology, NFT technology can be used in the virtual and real world, and has considerable commercial value and social service application value. Among them, Japan’s PREMA project creatively combines the NFT technology system with information security communication patented technologies such as NFC and AQR. PREMA has made breakthroughs in technology and realized the intercommunication between the virtual and the real world, further expanding the commercial application value of NFT.

In the past three years, NFT has experienced a wild development stage, due to the imperfection of the initial NFT supporting technology and the short-term profit-seeking nature of capital, mainstream NFT technology applications and products are limited to digital collections, chain game props, digital artworks, and other NFT asset trading fields. Over time,, NFT has been put on the cloak of finance, no further development other than deals and hype. But NFT is essentially a distributed information storage system, which is based on point-to-point communication technology and encryption technology, making the data structure more open and traceable. As the wildness fades away, people gradually realize that the NFT technology system can break the scope of virtual assets and further extend to the field of social information services. Therefore, NFT can be financial assets in the virtual world or application tools in the real world. They are no conflict, the combination of “assets” and “tools” is an inevitable trend in the future, which coincides with the concept of “communication between virtual and real worlds” put forward by PREMA.

We can say that PREMA is a practitioner who combines “NFT assets” and “NFT tools”. The project is building a Web3 ecological platform based on NFT “transaction + application”. Its core is the PREMA X trading market and PREMA smart wallet. It cleverly integrates and uses various technologies such as NFT technology system, data traceability, data transmission (NFC) and data security (AQR), creatively combines NFT’s asset attributes and tool attributes, breaking the current situation where NFT is “limited to collection transactions”. In layman’s terms, users who use the PREMA platform do not need any encryption trading experience and common sense and can trade NFT with zero thresholds and use NFT in real life (such as access cards, tickets and other electronic cards). The NFT issued through PREMA becomes a virtual asset (artwork, props, collections, etc.) and is also a daily application tool – an NFT, in the metaverse scene, it is a virtual character and a virtual prop, while in reality, it is an invitation to an offline party, a ticket to a performance, and can be used in multiple scenes.

It is worth mentioning that the PREMA wallet, a multi-chain multi-functional encrypted wallet, supports NFC and QR code reading in addition to basic payment functions, so users can use NFT in real life more conveniently through the PREMA wallet, treat NFT as a tool. For example, NFT avatars, NFT lands, and NFT images in Metaverse can be used as NFC electronic cards and electronic tickets at any time, or exchanged for corresponding hand-made artworks on vending machines, etc. PREMA is based on the development of the NFT technology system and is researching applications such as physical electronic cards, logistics traceability, supply chains, and ticketing. The essence is to use the NFT distributed database and encrypted storage algorithm to transform the process of data uplink and storage into a process of verifying integrity based on code and algorithm, to realize the link between virtual and reality to a certain extent, as mentioned above, the application of NFT will be further extended to the field of social information services, and the application value of NFT technology will be maximized.

Since 2019, NFT has begun to enter a period of rapid development and has made great progress in digital collections, metaverse, and other fields, but there are deficiencies in practical applications, and the market is basically blank. PREMA is one of the few noteworthy projects in this field, and it is also the pioneer that proposes to link URL (network world) and IRL (real world) through the NFT technology systems.

As mentioned above, the combination of “assets” and “tools” is an inevitable trend in the future. Let’s take the ticket management of NFT in metaverse, chain games and real life scenarios as an example, to explain the foreseeable changes that the PREMA project will bring to the market in the future:

As we all know, the application of digitization in public places such as sports events, concerts, theaters, large shopping malls, and playgrounds has become more common, and NFT provides more possibilities for ticket management in the era of the digital economy. The main problems in the current ticket management of various venues such as sports events and concerts include counterfeiting of tickets and irregular management of the secondary market. Event organizers can use the solution of the PREMA platform to openly and transparently record the issuance and transaction of tickets in the form of NFT which cannot be tampered with, to ensure the authenticity of tickets and prevent the generation of false tickets. The PREMA platform can provide smart contracts that meet actual needs to define business rules such as NFT ticket sales, ticket transactions, and ticket destruction. Through the automatic execution of smart contracts, each participant can abide by the relevant rules, and every resale of tickets will record the change of the circulation price on the chain, to achieve the transparency and efficiency of ticketing,  and users can then download the PREMA wallet in the app store and use NFT tickets conveniently.

More importantly, the PREMA platform can associate NFT tickets with the metaverse. Viewers holding NFT tickets can use NFT as a voucher to enter a specific metaverse. NFTs are used as characters and exclusive props in the metaverse. At the scene of the World Cup, NFT tickets can be football props or star images in the metaverse. The metadata of each NFT will be randomly linked to different teams or players on the football field when casting. If a player scores or a team wins a game, the metadata of the NFT corresponding to the team or player will be updated in real-time to record the information of the game, and at the same time announce the rewards obtained by the holder, or accompanied by a series of rich interactive activities, this NFT football (tickets) eventually become the exclusive certification to watch the World Cup live on behalf of the user. The PREMA platform can also provide a trading platform for these exclusive NFTs – the PREMA X market, and other supporting NFT secondary opening solutions in the past.

Therefore, PREMA transforms NFT from metaverse and chain games to real scenes, realizes the change from information dissemination to scene interaction, On the premise of data security, it provides new revenue-generating opportunities for events, concerts and other activities, and it will also bring huge economic benefits in other social activities and business models. Although the technical description of PREMA is boring, the technical application scenarios of PREMA are rich and colorful. Some scholars once described the metaverse: “If you want to write a simple formula for the metaverse, then this formula should be, metaverse = number World×Physical World. Among them, the number “×” is NFT, which is a bridge linking the digital world and the physical world, Its potential is yet to be explored.” It is undeniable that PREMA is the pioneer in exploring and discovering the potential commercial application value of NFT.]

What is PREMA? PREMA is a Web3 platform focused on NFT transactions and applications.The platform uses the PREMA wallet application and traceability system to integrate NFT and NFT usage scenarios, such as metaverse blockchain games in URL (UnReal Life, non-real world), and physical facilities in IRL (In Real Life, real-world) associated with physical products.And developed a comprehensive market for the Web3 network. This is a milestone achievement for the Web3 network, just like the original App Store, Google Play, and Kindle Store.

Learn more about PREMA:

PREMA official website: https://prmx.io/ 

PREMA Wallet official website: https://premanft.com/en/home-en/ 

Instagram: https://www.instagram.com/prema.io/

Discord: http://dsc.gg/official-prema-discord

Telegram: https://t.me/OfficialPREMA

Twitter: https://twitter.com/prema_en

Medium: https://officialprema.medium.com/

Media Contact
Company Name: Prema
Contact Person: Andrew
Email: Send Email
City: Tokyo
Country: Japan
Website: https://prmx.io/