(Carson City, NV / June 17, 2024) – Pioneering metaverse platform Utherverse announces the official launch of Functional Non-Fungible Tokens (fNFTs) with a grand party on June 20 within the Utherverse Metaverse.

Utherverse users will gather for this momentous event where they will open their trunks to reveal their fNFT items and discover the NFT Key/Condo they have received. This “Big Reveal” marks a significant milestone in Utherverse’s journey into the Web3 era.

By integrating fNFTs, Utherverse transforms digital assets into unique, valuable pieces of the virtual economy, enabling users to buy, sell and trade with the assurance of authenticity and ownership. Coupled with VR technology, these assets are not just seen but experienced, creating a sense of presence and immersion that deepens the connection between users and their virtual possessions. This fusion of fNFTs and VR redefines the metaverse experience, offering users a fully immersive, blockchain-powered universe where digital interactions are secure, authentic, and user-driven.

The main difference between fNFTs and traditional NFTs is their functionality and utility. fNFTs have inherent functionality, allowing them to be used, combined, traded, and created within the Utherverse platform, representing dynamic and interactive digital assets. In contrast, traditional NFTs are typically static, representing ownership or proof of authenticity without inherent functionality. fNFTs enable users to customize avatars, decorate virtual spaces, participate in virtual commerce, and engage in various in-world activities.

Utherverse’s hybrid model of Virtual Goods, NFTs, and fNFTs creates a robust virtual economy. Users can sell and trade virtual goods, NFTs, and fNFTs in the marketplace, monetizing their creations and participation in the virtual economy. The fNFTs function within the Metaverse by providing interactive and dynamic elements that traditional NFTs cannot offer. These include customizing avatars, participating in commerce, and engaging in various in-world activities, thus enhancing the overall user experience.

At the live launch party, Gen 1 and Gen 2 Trunks will become unlocked for the first time since they were minted. Attendees will be able to open their fNFT trunks to reveal the contents – which contain an avatar wardrobe and metaverse real-estate of varying rarity. Each trunk, designed as male or female based on the clothing and accessories they contain, will reveal a key when opened. This key, an NFT, grants access to an apartment in the Central Residential Building in the main Plaza of the Utherverse Metaverse. The keys will randomly determine one of four apartment types: Deluxe, Luxury, Sub-Penthouse, or Penthouse, adding an element of excitement and exclusivity to the real estate reveal.

The June 20 event is a pivotal moment for Utherverse in showcasing its state-of-the-art approach to integrating fNFTs. This launch aims to enhance the user experience and set a new standard for digital interaction and economic engagement in the metaverse.

Since 2005, Utherverse has stood at the forefront of virtual reality innovation, serving tens of millions of users and establishing itself as a metaverse trailblazer. Its classic virtual currency, RAYS, has facilitated seamless transactions and interactions for almost two decades. Utherverse’s robust virtual economy highlights its commitment to community building and providing a safe, immersive platform for global users to connect and explore.

To learn more about Utherverse’s groundbreaking metaverse platform, visit Utherverse.io.

Brian Shuster is a futurist, innovator and one of the pioneers of the Internet who has developed and been awarded well over 110 patents and pending patents on a wide range of Internet and computer technologies.

In 1995, Shuster founded his first Internet company, Worldwide Internet Network, that developed and deployed the first commercial advertising network on the Internet, and also pioneered the use of banner advertising and banner advertising exchange systems. Many of Shuster’s technologies are now widely used across the spectrum of nearly all other Internet companies. Shuster’s patents cover a wide range of technology areas such as Metaverse, VR headsets, Haptics and Adaptics™ , and core Internet technologies – ranging from Internet operations to advanced and widely deployed advertising modalities.

Over the past 20 years, Shuster’s visionary work in VR has solved critical “show stopping” problems behind the operation and expansion of the metaverse. His work is foundational to the very fabric of the metaverse and has been featured in many industry and general news outlets, including CNN, Forbes, Venture Beat, MSNBC.com, Yahoo, Wired News and many others.

Shuster is currently the CEO of Ideaflood, Inc., an intellectual property development and holding company, and Utherverse Digital, Inc., the world’s premier Virtual World software development company with millions of registered users and worldwide franchise operations. He is an industry Thought Leader and the Nucleus of the Utherverse Team.