Blockchain and Metaverse
There is a reduction in physical spaces due to the pandemic, so people are looking for more spaces that have no restrictions like a virtual space. People now meet and play together in a virtual space. We call it, ‘Metaverse’. This means a virtual shared space, created by the convergence of virtually enhanced physical reality and physically persistent virtual space.
The word, Metaverse, first came out in 1992 from Neal Stephenson’s science fiction novel, Snow Crash. And it collaborates with Blockchain technology these days to improve its limit now.
Newzoo, the world’s most trusted and quoted source for games market insights and analytics, shows that the ‘Metaverse’ can be in the gaming sector for 2021 in its latest report, as one of the trends to take into account in this great industry.
However, it’s not only limited to the gaming industry but every industry. As Blockchain technology is smeared in Metaverse, here is an example of how the technology is used with it. The use of NFTs (non-fungible tokens) in these decentralized spaces is allowing users to create designs and own their original author. Also it allows them to monetize and receive all the credit for it fairly and transparently, thanks to the power of Blockchain technology.
In the Metaverse world, people have the economics, politics, lifestyles and others just like in the real world. However, It requires a place to save all those system’s data and that place would be Blockchain which can be the best way to authenticate ownership of virtual property and even make and preserve someone’s identity. As the data is on Blockchain, they can’t be tampered with or deleted. Also everything would be transparent since they can see and track every data saved.
As Blockchain technology is used in Metaverse, more people can act and play more transparently and honestly in the virtual world.
Metaverse with Game Platforms
The first one is The Sandbox, which emerged as a game based on the Ethereum network in 2012, causing a tremendously positive impact on the crypto community. Although it is not the only one of its kind, the truth is that it has characteristics that make it unique in its style.
Users can monetize the creations in the virtual plots called LAND and also allow the exchange of these creations with their own token called SAND around the economy created in the ecosystem.
Decentraland is another excellent platform that has its natural space in Ethereum, although they recently made an alliance with Polygon (formerly Matic Network) in order to solve the problems of high gas fee and scalability inherent in Ethereum.
Like The Sandbox, users in Decentraland can monetize their creations and virtual parcels through the native MANA token, which serves as a means of exchange within the virtual parallelism generated in this Metaverse.
Decentraland was the first of its kind in the Blockchain ecosystem, and as such has one of the largest user bases and creations in the industry. In addition, it hosts live events using its virtual world beyond the screens due to the pandemic situation that has been impossible to carry out in person.
Other than these two, there are many games that have Metaverse and Blockchain. And there will be more since these two are getting more popular and important nowadays.
As the world is developing, there are lots of things coming out. Metaverse will be one of our lives in the future, which has already begun. If you have seen the movie, Ready Player One, you already experienced the Metaverse indirectly.
Blockchain technology is also spread out to our world a lot. As we expect this technology will be a key technology in the future, we also expect the collaboration of Blockchain and Metaverse.
FLETA is a blockchain platform that aims to offer infrastructure that can be applied to real-world business models. FLETA has its own core blockchain technologies like Level Tree Validation, Parallel Sharding, Independent multi-chain Structure, Block Redesign, and PoF(Proof-of-Formulation) which is its own consensus algorithm. With them, it aims to solve the problems that existing platforms have such as slow speeds, scalability limitations and excessive fees, and provide a flexible development environment. Moreover, its Gateway technology improved its interoperability by allowing projects issuing their tokens through other mainnets to maintain their mainnets while using the FLETA chain.
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