Metaverse Blockchain games are immersive virtual worlds

-MYTHS AND REALITIES

Metaverse Blockchain Games and metaverse projects raised a cumulative $1.3 billion in venture capital between July and September, according to DappRadar’s latest BGA Games report. While this number was down 48% compared to the second quarter, it was almost double the total amount raised in 2021.

Metaverse Blockchain

If one was to define the future in one word, it would be Metaverse. Technology has become an omnipresent and inseparable part of human lives, cyberspace the central ecosystem. Like the planet itself, the role and features of tech have evolved, advancing from communication and information exchange to the creation of parallel worlds with the help of virtual realities. The future solely belongs to the visibility and credibility of digital identity, with the digital world copying the live environment in every aspect. Be it creating survival games or creating office environments, Metaverse will be changing every verb known to men. It wouldn’t be wrong to call gaming and blockchain two building blocks of Metaverse, growing exponentially amongst the masses. When two shall combine, except to be wooed away. 

 What is blockchain?

The most surprising invention of technology in this decade is blockchain and NFTS, the world’s digital currency. Both names operate on the principle of indestructible data, a distributed database among various computer network nodes. Bitcoin and Crypto are the most renowned names and are actively promoted by governments of every nation. The stored digital information can be shared or distributed without editing by any third party. The concepts of financial transactions through blockchain are also being introduced in games through a particular Unity tool. In addition, many Free to play NFTs games are also being introduced to lower uneasiness associated with digital currency.  

Metaverse blockchain is much more than a buzzword.

Metaverse Blockchain

The significant value benefits of innovation in technology are evident in the benefits of blockchain. It supports the development of decentralized networks and applications and ensures digital services’ availability. Most importantly, the growth of blockchain has also resonated with the rise of the metaverse, NFTs and blockchain games.

Interest in metaverse blockchain gaming and NFT trends is gradually increasing, especially considering how these industries are evolving. For example, NFTs were just limited to the domain of artworks and digital collectibles, and meta version was just a term from a science fiction novel.

Naturally, as the concept grows, certain doubts and myths also start surrounding the topic. So let’s bust some of these most alarming myths and discover the reality ourselves. 

1. Open Economies are another name for chaos. 

Metaverse Blockchain

If one were to break down a Metaverse blockchain game, one possible definition would be an open and chaotic economy animation. In the era of traditional games, one could always make revenue by reselling new versions, just like a physical asset. However, blockchain games are strictly for trading and digital currency promotion, with open economies having little sincerity on buys and sells. The pattern has taken a turn with the rapid development of closed economies, and MMORPGs are the perfect example. While trade is still an option, only some things can be traded off, especially currencies.  Although considered morally and systematically neutral, gamers aren’t enthusiastic about the topic. 

 Reality

Much to our disobedience, blockchain gaming is not a transparent and honest world out there. There are those ripping the hard work of others. Crowdfunded games continue to pose a problem, and multiple started enthusiastically but left the market after a while. The main issue behind crowdfunded games is the lack of robust support, for they begin with active participation but lose popularity after a while and fail when unable to get back on their feet. Dealing with NFTs or tokens may have digital security, but it is also the most convenient way for a criminal to jump in with no intention of building anything. 

2. There are ecological concerns. 

This is related to energy consumption for maintaining digital art and blockchain services. There are two streams, proof of work and evidence of state. Proof of work demands long hours of follow-up, solving massive puzzles, and requiring considerable energy for completion. Metaverse Blockchain games are built on the latter and have comparable energy requirements of a cloud server or back-end technologies. 

Reality

It is a short-running but early-developed project with the potential for refining and improvement. Like any other art, this demands time, resource development, learning, and upgrades. Any new model goes out with multiple risks and future potential, and every established game starts here. There are a lot of junk and unfinished products floating in the market.  

Metaverse Blockchain

3. NFTs have no physical significance. 

Even after such popularity, many are reluctant to the idea of digital assets, defining them as links with no sincere impact or use in society. They couldn’t be farther away from the truth. While NFTs or tokens might not always be particular to the game’s aesthetic, they are the foundation of game economy and accessories purchases. Like any other asset of the natural world, digital collectibles are bound by their own rules, can be used for exchange and second purchases, and can give you significant advantages in times of economic turbulence. 

Reality 

This is a gray area for development. You continue to own the collectible until the very end, but its content might be server-dependent and time cautious. This becomes particularly difficult for game servers, as only some can write the entire timeline. But open economy games differ from closed ones in many aspects, and more games will develop with the latter. This unpredictable trend will only be given a direction with time. 

Wrapping up

The term “METAVERSION” refers to what many believe will be the next important paradigm for using digital technologies and networks to communicate, collaborate, and experience different virtual experiences. It is not a single technology, equipment, or service offered by one company. It is the result of a fusion of several other technologies rapidly becoming mature enough for widespread use.

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