What is Metaverse? Guide By GameInfinity ( GAMEIN)
Why Metaverse could be a boom in the gaming industry.
- Metaverse is the biggest technology to emerge that will take the consumer’s experience to an entirely new level.
- The latest buzzword in the technology industry — that is beyond the world or the universe as we know it.
- Projects like Gameinfinity, Sandbox, Decentraland and Axieinfinity are taking Metaverse into blockchain gaming
What is the Metaverse?
Metaverse comes from Greek. Meta + verse, where “Meta” means beyond and the “verse” means the universe which comes out as something beyond the world or the universe. Metaverse can be defined as an indication of the actual reality.
Facebook CEO Mark Zuckerberg recently rebranded his company name “Facebook” to “Meta”. He also announced his plans to do within the metaverse and mentions in no way he can own the metaverse. Just like no one owns the internet, nobody can own the metaverse, and it’s an open platform.
The concept of “Metaverse” was first mentioned in the science fiction novel “Snow Crash” by Neal Stephenson in 1992.
Simply put together, Metaverse is an online 3D universe combining various virtual spaces which allow users across the globe to communicate, meet, play games, and participate in games together. It is driven by AR and VR allowing the users to control their digital avatars.
Considering the realized examples of the metaverse, it has come from video games. “World of Warcraft” — one of the famous games that have been going strong now for 17 years with 5 million paying subscribers.
The Role of Metaverse in Blockchain Games
Decentralized games play an important role in the future of metaverse. Blockchain-based, metaverse apps like Axie Infinity, Decentraland, Fortnite games already exist.
These online gaming applications allow users to perform a range of actions such as buy and sell virtual land, and “play-to-earn”. These games nearly provide a metaverse experience to their users.
For instance, in blockchain-based games, a group goes on an adventure to hunt for the treasure, and when the treasure is found, it is converted into cryptocurrency and added to the wallet.
This crypto could be spent inside the game to buy an item for the digital avatar, and could even be used to buy a piece of virtual land and rent it.
In a blockchain metaverse game, several users, and participants work together and moderate the metaverse network. This is mainly because user creation of virtual spaces, transfer of ownership of digital assets, and financial transactions can all be recorded on the blockchain.
Blockchain and Metaverse are a perfect combo
Blockchain Technology allows the metaverse network to enable interoperability, digital proof of ownership, and digital collection of assets like NFT’s.
All transactions on Blockchain Technology are secured and irreversible giving control and power into the hands of users.
These “play-to-earn” games adapt the idea of an open economy and reward every user who adds value by playing and spending time in the gaming ecosystem.
Amid the hype of metaverse, play-to-earn games, like Axie Infinity, and The Sandbox has gained popularity.
Axie-Infinity — An established blockchain game made up more than half of all blockchain gaming users. Driven by the recent Facebook rebranding to Meta, several metaverse platforms such as Decentraland and the Sandbox also saw their native tokens soar in value.
Concluding Thoughts
The metaverse is envisioned as a network interconnecting the real-time 3D world. This digital environment will create a new way for people to engage, with the fact that it will have its own challenges.
Metaverse will let users hang out and connect with people who are not in the same physical room.
Joining the dots, metaverse may still require a long time to see success but with big tech giants like Facebook and Microsoft adapting to it, we can see these blocks falling in the right places.
About GameInfinity
GameInfinity is a Blockchain Gaming Metaverse project that will host Web3 games, a game store, and a gaming elements NFT platform.
META token is the native token of GameInfinity that will be used for all network transactions and also has multiple use-cases
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GameInfinity Blockchain Gaming Metaverse
