Metaverse: blockchain and NFTs will be the key

The metamonde is a virtual space where people can share their past experiences and participate in real-world simulation events. 2020 is a cascading time for those who believe change holds promise for the economy. This year, the Metaverse began warning the outside world about the entertainment industry and began to enter key markets.

Metaverse is the next step in improving the internet to allow users to access themselves in virtual reality. Key features of the Metaverse include real-time onboarding, activity, community activation, digital avatar, and cross-platform access.

In terms of applications, games, like blockchain technology, are already an integral part of the meta-world, together redefining the gaming industry. The integration of NFTs to transform the gaming industry is one of the most significant developments. most innovative currently at the origin of game and meta-universe applications.

Before blockchain entered the global gaming industry, games were still developed by the root system. Everyone works the same way. All game assets, files, documents, and benefits are always under the control of the root system. As a result, the developer retains all the skills of the game members.

This year, the NFT industry has grown rapidly thanks to the advent of blockchain and NFT illustrations that use digital security certification to verify the authenticity of unique products. It gives players access to the means to have their digital assets, allowing them to benefit from their unique game. It also laid the groundwork for a new game monetization model called Play-to-Earn (P2E model). In the new mode, players can get rewards.

NFTs are only just beginning, but there is great adoption in 2021.

According to Google Trends, NFTs started production very quickly in February of this year. After the NFT sale which included graphics and the NBA's best killer streak, the NFT became popular. For companies like Dapper Labs, sales and sales of these NFTs have exceeded $ 780 million. Christie auctioned off Beeple's NFT digital collage for $ 69.3 million in March, which may not seem entirely understandable, but it's true.

In October 2017, NFTs emerged with the announcement of CryptoPunks, the world's leading “art gallery” marketplace. At the time, these just weren't fake tokens that weren't disclosed outside of the blockchain community.

According to data from nonfungible.com, in the first quarter of 2021, NFT revenue exceeded $ 2 billion, an increase of 2100% from the fourth quarter of 2020. According to data from DappRadar, NFT revenue reached 1, $ 2 billion in July 2021, almost half. of its annual sales of $ 2.5 billion.

The shortage of NFT is significant in its attractiveness. For example, in the game CryptoKitties, the collection of users and the breeding of cats are represented by a special NFT. Some CryptoKitties are considered rare commodities, making them more profitable in the eyes of low value collectors.

Metaverse, games, blockchain and NFT have combined very well to provide not only a place of entertainment but also an open channel for gamers to earn rewards through gaming. SIDUS is one of the few sports companies. to use these four technologies to offer players a unique gaming experience.

SIDUS meta edge evolves into a 3D game with P2E mode and NFT based meta edge game, ready to compete with 3D games that do not yet use the P2E (Play-2) blockchain function - win). .

Interestingly, “SIDUS Heroes” brings significant changes to the gaming industry and is one of the first NFT-based games in many online roles. In the SIDUS meta-universe, players can breed animals, join PVP arenas, trade in-game tools and crafts, and build houses in various locations across the galaxy.

So far, the model game has been highly regarded and appreciated by many advanced gamers, developers and entrepreneurs. Blockchain gaming promotes strong collaboration for gamers, attracting more people to join the industry.

The gaming industry is a big use of blockchain technology.

According to a survey by NFT tracking site DappRadar, in October, more than one million digital wallets were connected to daily gaming apps, accounting for 55% of the blockchain total. Online gaming is undoubtedly a huge blockchain.

The global market is expected to grow by 50%, from $ 178.4 billion in 2021 to $ 268.8 billion in 2025. Why aren't game developers using blockchain technology, cryptocurrencies and NFT for their games? Recent research shows that developers are now using blockchain technology for their platform.

According to a recent survey by blockchain platform leader Stratis, more than half (58%) of the 197 US and UK video game developers surveyed are currently experimenting with blockchain technology. And nearly half (47%) of those surveyed said they are starting to use NFTs for their games.

Models in 2020 may need to build a meta-world and blockchain team in the Web 3.0 era. Many companies believe media coverage won't be necessary at the turn of the 21st century, but today the relationship has grown into a huge selling point. The same goes for blockchain technology.

final thoughts

Much like the classic project management problem of “affordable, efficient and fast 2 of 3 choice”, blockchain seeks to balance distribution, scalability and security. There are so many stakeholders who can benefit from this, why not make more use of blockchain technology in the game? One of the events is the weather, but the day will come.