With the adoption of VR technology from the mainstream population, we are increasingly going to be out of the physical world
But what is really a Metaverse? It’s a persistent, synchronous experience that spans the digital and physical worlds. It is highly interoperable and fueled by a creator-centric economy. It is highly decentralized. It’s not a video game but could be considered one by some people. Video games are the humble origins of this much larger transformation of society and culture.
In 2023, the number of gamers worldwide will surpass 3 billion. In the U.S. alone, one out of every two children plays Roblox.
What is the Metaverse ?
It is highly social, it has the ability to transcend space and “physically” share environments with others all around the world. It will have a profound impact on how we communicate and interact with each other. It is a breathing, living, parallel reality, that can exist for all inhabitants of the world, consistently and in real-time. It is massively scalable, which makes the co-existence of hundreds of millions of avatars simultaneously a very real possibility.
It is also persistent, it will never pause or stop, but continue to exist indefinitely. People will be able to evolve in this worlds for years or decades without fear of losing their avatar, or their progress. It will also be hardware agnostic, everyone, on every type of machines, will be able to interact in the Metaverse, from computers to consoles to mobile phones. It is highly interoperable using open-source code and robust cryptographic protocols.
It will be an economically fertile universe, where your dreams come true. As we further our transition in the Metaverse as a digital species, these worlds will become increasingly seen as legitimate workplaces or investment vehicles. Participants will be able to create, invest, own, lease, and sell or buy services in the Metaverse, just like in the real world.
It is basically the 3D web. It will be content-rich. Vibrant and dynamic.
The spatial Web is forming, built on the blockchain, and viewed through VR
If you are not familiar with the concept of a metaverse or want to learn more about what it means for mankind and its future, you can read Piers Kick’s Into The Void: Where Crypto Meets The Metaverse and Matthew Ball’s The Metaverse: What It Is, Where to Find it, Who Will Build It.
The term was coined in Neal Stephenson‘s 1992 science fiction novel Snow Crash, where humans, as avatars, interact with each other and software agents, in a three-dimensional space that uses the metaphor of the real world.
Crypto investors seeking exposure to the space as a whole, should take a look at this : the Metaverse Index from Index Coop
On April 7th, Index Coop launched the Metaverse Index ($MVI). According to the proposal, $MVI is “designed to capture the potential upside of the new but growing group of projects on Ethereum that relate to virtual ownership through NFTs, gaming, virtual reality, and entertainment.”
It is basically a $SPY, an exchange-traded fund which tracks the top companies of a sector, but for the Metaverse.
$MVI uses the following criteria for inclusion in the index
- The token must be on Ethereum.
- The protocol must be in one of the following Coingecko categories: Non Fungible Tokens, Entertainment, Virtual Reality, Augmented Reality, and Music.
- The total market cap must be greater than $30m.
- The protocol and associated token must have at least 3 months of history.
- The token must have reasonable decentralized exchange liquidity.
- The protocol should have completed an independent audit.
Let’s take a look at MVI’s holdings
We believe the virtual worlds of tomorrow will evolve into an interconnected digital reality. More than simulations, these new realms will empower us to create real-world value while having fun.-Enjin
Enjin is an ecosystem of products that make it easy for game industry businesses to develop, trade, monetize, and market with blockchain technology. With over 20 million users and a robust product suite, Enjin can provide a competitive edge to businesses seeking to utilize tokenized digital assets as part of their acquisition, retention, engagement, and monetization strategies.
The entire Enjin ecosystem is powered by Enjin Coin ($ENJ). Through a minting process, $ENJ is transformed into gaming NFTs. This process can be reversed, melting the NFT back into $ENJ. The $ENJ within the NFTs creates a floor price, correlating the value of the NFT with the underlying $ENJ backing.
The first fully decentralized world, Decentraland is a virtual reality platform where users can create and monetize content and experiences. Users purchase virtual land on-chain, giving them full creative control over what content is published on their parcel. The entire world is controlled via DAO, a decentralized governance body, which owns the platform’s smart contracts.
People are spending increasingly more time in virtual worlds, for both leisure and work. This occurs predominantly in 2D interfaces such as the web and mobile phones. But a traversable 3D world adds an immersive component as well as adjacency to other content, enabling physical clusters of communities.-Decentraland
A visit to Decentraland is ripe with unique experiences. From visiting museums dedicated to NFT artworks to gambling away your $MANA in virtual casinos to attending live concerts from the likes of 3LAU & RAC, Decentraland is a vision of the future where decentralized platforms couple with Web3 technologies to create unique social experiences in a 3-dimensional space. If you haven’t checked out Decentraland before, click on any of those links, connect your Web3 wallet (e.g. Metamask), create an avatar, and begin exploring directly within your browser.
Two crypto assets underlie the Decentraland economy: LAND, the nonfungible parcels in which the world is divided, and $MANA, an ERC20 token that is used to make in-game purchases of goods and services.
Real world businesses like Kraken, Binance, CoinGecko and even Atari have built headquarters in Decentraland.
It is our belief that the low overhead coupled with 24/7 presence means more businesses will likely build storefronts in these types of virtual spaces. And this is why we have launched this website.
The Sandbox ($SAND)
Familiar to fans of Minecraft and Roblox, the Sandbox is a community-driven platform where anyone can create and monetize gaming experiences on the blockchain using voxel NFT assets. The Sandbox ecosystem consists of three main products:
- Voxel Editor – A simple 3D voxel modeling tool that allows anyone to create and animate 3D objects called ASSETS.
- Marketplace – A web-based marketplace where users can buy and sell their ASSETS as ERC721 and ERC1155 tokens.
- Game Maker – A game mode that allows anyone who holds ASSETS to place and use them on their LAND (an ERC721 token representing digital land in the Sandbox game). Users can decorate their LAND or create gameplay mechanics by scripting their ASSETS.
$SAND is an integral part of this vibrant Sandbox economy. $SAND is used to play games, purchase ASSETS and LAND, and customize player avatars. $SAND is also required to upload ASSETS to the marketplace. In addition, holders of $SAND can participate in governance over the platform using the DAO structure or stake their $SAND to earn passive revenues from a 5% fee capture model on marketplace transactions.
Our vision is to offer a deeply immersive metaverse in which players will create virtual worlds and games collaboratively and without a central authority. We are aiming to disrupt the existing game makers like Minecraft and Roblox by providing creators true ownership of their creations as non-fungible tokens (NFTs) and rewarding their participation with our utility token – SAND.-Sandbox
The future is here
Virtual reality casinos and shopping centers. Play-to-earn gaming can generate wages above a doctor’s in some countries. Social tokens backed by rare NFTs unlock access to vibrant communities. Disruptive platforms seeking to overthrow traditional models.
The $MVI offers an easy, investable solution to gain exposure to the cutting edge of the Metaverse and Web3 technologies.
To think, a decade or 2 ago, you’d get made fun of for playing video games in school, and yet here we are:
In 2023, the number of gamers worldwide will surpass 3 billion.
Are you ready to play, Anon?