A Metaverse is a relatively new concept that has become popular thanks to Mark Zuckerberg. Recently, the founder of Facebook announced the start of work on the creation of a meta-universe. It is a virtual reality that is supposed to unite tens of millions of people around the world.
Blockchain metaworlds are more modest projects based on distributed registry technology (blockchain) and NFT. Projects are playful with real economies expressed in digital tokens and NFTs of some value.
Blockchain-based Metaverse — what is it?
Today, a Metaverse is understood as a virtual reality. In a non-existent world, people can interact with one another. The best demonstration of a Metaverse universe is VR helmets that allow people to fully immerse themselves in the virtual world.
Blockchain-based metaworlds are fairly simple games with a virtual world and a real economy. Each game has a unique digital token that acts as in-game currency, as well as irreplaceable NFT tokens with a unique value. Service tokens are traded on exchanges and NFTs on local or external marketplaces. You can also buy tokens on the Alligat0r website.
The main characteristics of the blockchain Metaverse are:
- a liquid closed economy
- Games have lands (islands, planets, and land parcels) expressed in NFT, which form the basis of each universe’s economy;
- Games also have various in-game items that are sold or bought for local tokens, cryptocurrencies, or fiat — if the item is converted to NFT;
- Each game has its own token, which has a real market capitalization;
- The graphics and gameplay are still at a low level, as the main goal of such projects is not action and fun from the storyline, but the creation and development of their own virtual world with real income.
- This direction is interesting for investors, which is well seen in the latest figures on investments. The total amount of venture capital investment in blockchain meta-villages in the fourth quarter of 2021 was more than $1 billion.
Blockchain-based gaming Metaverse
Which projects today can be classified as blockchain meta-villages that have a closed-loop liquid economy, their own tokens, and a large-scale virtual world divided into areas (lands, islands, planets) expressed in NFT?
Decentraland (MANA+LAND)
Decentraland is one of the brightest representatives of the GameFi sector. It is a full 3D game where the user controls his character in a big virtual world. The basis of the economy is LAND land, expressed in NFT. The service token is MANA. The project runs on the Ethereum blockchain.
Sandbox (SAND)
Another actively developing blockchain meta-universe is Sandbox. It is a real 3D world divided into land plots (NFT). Plots can be bought, sold, and equipped with in-game items that can be either crafted or bought on the local market for SAND.
Alien Worlds
Another popular blockchain-based universe is Alien Worlds. It’s a game with pretty simple gameplay and an understandable economy. The lands are planets (NFT) where you can mine different minerals necessary to improve the player’s skills and equipment.
Already, some virtual land plots are selling for $10-100 thousand, and that’s just the beginning. Technology has reached such a level of development that it makes it possible to create additional colorful worlds with a fully liquid economy. Information about token values can be found at https://alligat0r.com/coin-pairs/eth/dot/info. Therefore, there are definitely prospects for metaworlds on the blockchain.
Watch this space for updates in the Technology category on Running Wolf’s Rant.
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