Non-fungible tokens are going 3D, and Sony Electronics – the Japanese tech juggernaut – wants to be the company that takes them into a whole new experience.
Sony is collaborating with Theta Labs, the operator of the blockchain-based video streaming platform Theta, to produce two types of 3D NFTs designed specifically for use with the Sony Spatial Reality Display (SRD).
The SRD is a monitor that allows individuals to experience three-dimensional objects without the use of standard goggles or other eye-related devices.
Suggested Reading | BitMEX Founders Ordered By US Court To Pay $30 Million Fine For Illegal Crypto Trading
Sony is teaming up with Theta Labs to produce two types of 3D NFTs.
Whoa! What Is That?
The SRD has a high-speed vision sensor that tracks eye movements and generates 3Ds depending on eye positions. The image pivots in sync when the spectator tilts or turns their head in any direction, giving the impression of a real 3D object.
Sony’s SRD, according to Theta, will give a “Whoa, baby!” experience for NFTs and will “showcase NFTs and virtual experiences in a whole new way.”
The device went on sale in late 2020 and will cost roughly $5,000.
The NFTs will be available on ThetaDrop, Theta Labs’ NFT marketplace, which has already launched Katy Perry’s debut NFT collection, as well as NFT collections for the singing competition “American Idol,” the World Poker Tour, and the game show “The Price is Right.”
BTC total market cap at $685 billion on the daily chart | Source: TradingView.com
Sony Boasts SRD Technology
Mitch Liu, co-founder and CEO of Theta Labs, believes that NFTs and metaverses now have “great potential” for 3D visualization as a result of this.
According to Sony Electronics CEO Nick Colsey, the NFT release is intended to demonstrate the capabilities of Sony’s new SRD technology to NFT and metaverse fans.
“Without the need for 3D glasses, consumers can now enjoy a next-generation 3D experience… Theta’s NFTs are simply the most recent example of our quick embrace of metaverse-friendly technology,” Colsey explained.
Suggested Reading | Spotify Builds Own Island In The Metaverse With Roblox
The SRD's steep price tag may be prohibitively expensive for regular customers. (Image credit: Naxon Tech)
Biggest Hurdles Facing The Metaverse
One of the most significant challenges facing the metaverse, according to technology experts, is the development of technologies that allow people to effortlessly immerse themselves in digital worlds without relying on unduly heavy or expensive hardware.
Some NFT firms have attempted to use smartphone technology to overcome this problem through augmented reality (AR).
Devices like Sony’s SRD could contribute to the solution by bridging the physical and digital worlds; yet, as the Theta/Sony NFT drop’s hardware giveaway indicates, the device’s high price tag may be prohibitively exorbitant for casual consumers.
Sony’s Net Profits Seen To Drop
Meanwhile, Sony’s net profit is predicted to dip 12 percent year on year to 94.24 billion yen ($724.0 million) for the fiscal quarter ending March 31, according to a FactSet survey of analysts. This compares to a net profit of Y107.00 billion the previous year.
Featured image from G2 Learning Hub, chart from TradingView.com