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How the Metaverse is so much more than a game world

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The Metaverse continues to advance technologically as more and more individuals and brands have caught wind of its overwhelming potential. Despite its newfound popularity, the idea of ​​the metaverse is far from a brand new concept. Until recently, it was just an idea that was introduced and modified, but it was never officially created as past attempts lost ground over time.



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Much of its recent rise in popularity can be directly attributed to Facebook’s rebranding to “Meta” in October 2021. The social media platform cited plans to invest $10 billion in the metaverse this year. only last and make a full transition there in the next five years. Along with Facebook, big names such as Microsoft have also started crafting their own take on the metaverse.

The Metaverse Explained

It’s obvious that major brands have gone public with their support for the Metaverse, but what is “exactly” is it? The answer is a little more complex than you might expect, but no, it’s not an alternate universe that humans can physically transport themselves to (as some sci-fi movies and novels might suggest) .

The term metaverse can be attributed to the author, Neal Stephenson, in his 1992 science fiction novel “Snow Crash,” a book about a hacker who goes back and forth between Los Angeles and a virtual reality called the metaverse.

Since then, the term metaverse has broadened widely to become a virtual world that includes augmented reality, 3D avatars, and virtual reality. The metaverse is basically a world that allows its users to do things like socially interact with each other, transact, and play games.

Companies are using the metaverse as a growth strategy

Bloomberg reported that the digital environment will grow to 800 million by 2025 and multiply to 2.5 trillion by 2030. With that in mind, it’s no surprise that businesses, especially those that are tech-savvy , see value in the metaverse.

On the one hand, it has two main areas of distinction: interactivity and interoperability. From users communicating and interacting with each other, to shopping and trying on clothes, the possibilities are truly endless. Some companies, like Adidas, have even created their own NFTs that give holders exclusive access to their products. Shortly after launch, Addidas managed to sell $22 million worth of NFTs in one afternoon.

Metaverse projects and their offers

Below are a few projects that are bringing incredible value within the Metaverse. This not only includes games, but a variety of other uses.

Decentralized

Decentraland is a 3D virtual world that allows its users to purchase virtual land plots and other items as NFTs using MANA, which is located on the Ethereum blockchain.

The project has featured a variety of other offerings since its launch, including its first music festival hosted by BEAR NFT in 2021. Most recently, the project opened a virtual mall in March this year which includes the fashion brand luxury Dolce and Gabbana. as well as web3 brands like FangGang.

Sandbox

Like Decentraland, Sandbox is essentially a gaming platform on steroids. Users can purchase their own land using the method mentioned above.

Unlike Decentraland, one of Sandbox’s coolest features is called VoxEdit, which allows its users to create their own NFTs. After being created, users can upload, publish, and sell their creations through the Sandbox NFT marketplace. Additionally, the platform has a feature called The Sandbox Game Maker which allows users to create their own 3D games without any prior coding experience.

An important piece of the Sandbox puzzle is the SAND token, which is needed to do things like play games, make transactions, and customize avatars.

GAMA

GAMA is unique in its approach to creating a one-of-a-kind user experience through multi-layered entertainment events, games, and graphic storytelling formats that were previously introduced as physical and digital collectibles.

Although the project focuses on creating an immersive entertainment experience for its community, it also goes further. GAMA aims to expand its metaverse offering through other forms of collaborations with talent and brands that seek a metaverse offering with the ability to reach a large global community. These formats lay the groundwork for future immersive experiences that can be built and played in a universal metaverse.

Unlike platforms such as Sandbox and Roblox, GAMA aims to provide users with a realistic experience instead of a pixelated appearance that is usually built into early metaverse platforms. They execute this strategy using the computer graphics game engine, Unreal 5. This engine, which was developed by Epic Games, is used by high-end games and has also been adopted by the television and entertainment industry. movie theater.

Most recently, GAMA showcased aspects of its platform offerings at live events at NYC.NFT and San Diego Comic-Con. Attendees were able to get a first look at the updated GSS metaverse while gaining access to exclusive opportunities by participating. Features such as private living quarters and space-themed weightlessness zones lend themselves to creating a futuristic environment for each user while providing unique value through NFTs.

Games, transactions and much more

Metaverses are most often viewed in the same light as video games. While many are gamer-oriented, the concept opens up to a lot of possibilities inside and outside of the gaming industry. In fact, metaverses are more defined by the social aspect; it brings users together in a virtual space.

There’s a lot more to the Metaverse than meets the eye. It’s a virtual world that offers endless possibilities and use cases, especially for brands that aspire to scale and grow. It’s going to be incredibly interesting to see how the Metaverse evolves over the next decade. It certainly has the potential to transform the way people interact in the digital world.

Note: Investing in cryptocurrency and crypto assets is subject to financial risk and readers should do their own due diligence. Entrepreneur Media does not endorse any such investment.

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