Over the past few years, NFTs have altered dramatically the way things are owned, bought, and sold over the Internet, inspiring both excitement and deep skepticism. As interest in NFTs continues to heighten worldwide, artists and publishers alike have finally decided to give it a go. Not only is their work protected, but they also receive proper compensation for their efforts. Nowadays, there are hundreds of millions of dollars of NFT sales weekly through marketplaces such as OpenSea or Foundation, which allow buying and selling parties to interact directly in a trustless manner. NFTs on Bitcoin became an important part of the crypto market not long ago, so Ethereum is no longer a prerequisite for NFTs.
Technology is advancing at a rapid pace, and new ideas are being explored, which include meditation and personal information. As a result of the pandemic, mental wellness found its much-needed voice, so the holistic well-being of individuals is given special importance by improving access to mindfulness education and its practices. NFTs can help develop a secure and transparent system for exchanging digital content related to personal growth. Simply put, they connect users to their spiritual sides, leveraging the blockchain to achieve that goal. The aim is to become masters rather than servants of our inner universe while participating in Web3.
NFTs Have the Potential to Bring Benefits in The Field of Mental Health
To appreciate NFTs, it’s necessary to understand what they actually are and consider the opportunities they enable. In essence, NFTs are digital assets that represent ownership of physical/digital items, such as art, real estate, or music; some individuals might pay millions for an NFT, while others might find it worthless. Ordinals are a way to create NFTs on the Bitcoin blockchain and can be fungible or non-fungible, boasting a high level of liquidity. The inscriptions are permanently attached to the first Satoshi of the transaction’s initial output. The Satoshi is 100 millionth of the BTC coin price. One Bitcoin equals another Bitcoin, but one NFT doesn’t equal another NFT.
NFTs can be leveraged for guided meditations, affirmations, or other transformative experiences; they’re stored in the blockchain, so the NFTs can be bought and sold just like any other asset. For instance, an NFT could illustrate a guided meditation that can lead right to a healthier and happier life by increasing self-awareness, reducing negative emotions, and increasing patience and tolerance. Moments of Space launched a meditation app back in 2022 that takes advantage of NFTs and tokenization to attract people to engage in mindfulness and create a culture of wellness in Web3. Holders of a subscription NFT have access to the app and can earn EP points that can be burnt for US dollars.
How Can NFTs Have a Positive Effect?
Blockchain makes available a respectable, equal platform for everyone to get their voices heard without authority in place. Blockchain-based tokens like NFTs eliminate geographical barriers and make guidance and therapy accessible to all, so anyone can lend a helping hand or participate in wellness practices. Here are a couple of concrete and discreet ways in which NFTs can support mental health:
- Digital Art Therapy – NFTs enhance access to therapy and its acceptability. By using NFTs to create and sell art, artists can reach a broader audience and offer a new outlet for creative expression, so people can use their imagination, skills, and emotions to produce something tangible (and personally meaningful). It works particularly well for digital natives for whom computers have always been a part of their lives. By using NFTs, creators can protect their works from copycats, and they can’t be shared without permission.
- VR Therapy – VR can improve mental health outcomes and, notably, mindfulness levels. The strategic use of NFTs in VR environments and worlds can unlock exciting new use cases and possibilities. Therapists, not to mention mental health professionals, can offer groundbreaking ways to deliver therapy to patients. Mindfulness can be challenging to adopt, so NFTs eliminate this challenge by offering an immersive environment for breathing exercises, guided meditation, and other practices to relax the mind and body.
- Incentivizing Self-Care – Self-care can help manage stress and increase energy levels, promoting outcomes such as fostering resilience and living longer. Following through to achieve what you’ve set out to accomplish can be challenging without motivation, so NFTs can be used to incentivize self-care, encouraging people to place emphasis on self-care. They stay committed to keeping going, meaning they’re more likely to complete activities like meditation, exercise, or journaling.
Challenges And Limitations to Using NFTs in The Context of Mindfulness
By incentivizing mindfulness practices, we’re paving the way for a dream of global wellness in a sustainable manner. NFTs are largely regarded as ideal for application in the spiritual world, injecting real purpose into the industry, which is hard to come by these days. Nevertheless, it’s important not to forget there are challenges and limitations to using NFTs for mindfulness, so NFTs can be amazing, but just not yet. For example, NFTs can encourage low-quality or harmful content, which has associations with depression, anxiety, and low self-esteem. Only with careful regulation and responsible use of technology can NFTs have a positive impact.
Regrettably, there are several scams and copyright infringements, referred to as satire or art, of well-known, expensive collectibles. They come in different forms, but they all have one goal – to con people out of their money. This is precisely why, before transferring your money, you must ensure the NFT is original, but take note that copies are so expertly planned that you can easily be fooled into thinking you’re buying the genuine NFT. It’s necessary to create a more secure environment and empower creators and buyers alike to create a sustainable industry over the long run. It’s essential to educate those new to cryptocurrency to facilitate the use of NFT technology for personal transformation.
Wrapping It Up
NFTs can help anyone dig into their souls, serving as spiritual guidance and helping with meditation. Web3, which has become synonymous with a persistent and pervasive sense of mental unease, needs NFTs now more than ever.
