Although many people are unsure about the future of Metaverse, it will undoubtedly take the industry by storm as more and more people become interested in the domain. NFTs and Metaverse have recently gained traction owing to their popularity and whether we will soon enter a phase where artificial intelligence becomes a reality.
While we consider the broader implications of this paradigm shift and how it will alter the global landscape, it’s critical to comprehend the fundamental parts and definition of a metaverse.
In 1992, science fiction novelist Neal Stephenson coined the word “metaverse” in his work Snow Crash. But, thanks to technological advancements, Metaverse has become a reality, with significant businesses getting on board. However, the phrase gained traction once Facebook rebranded itself, Meta, generating much-anticipated excitement worldwide.
The Metaverse Is a three-dimensional environment where you can take control of your destiny. Like the real world, the Metaverse functions as a virtual world, allowing users to interact, communicate and engage with one another by adding a more immersive, three-dimensional layer to the web, resulting in more authentic and natural experiences. Web 2.0 and coming 3.0 qualities are the characteristics that provide the groundwork for today’s Metaverse.
Gaming Industry
The euphoria surrounding play-to-earn games and NFTs pervades the gaming industry, luring in newcomers hoping to strike it rich. NFTs and the Metaverse are the future of gaming. As a result, many game behemoths, such as WWE and Electronic Arts, announce their NFT plans.
Fox, WarnerMedia, Live Nation Entertainment, the NFL, and the NBA participate in the NFT. In games and across ecosystems, NFTs will begin to be used as payment. In addition, they’ll include a layer for virtual-goods monetization, as seen in the popularity of Thetan Arena, Axie Infinity, and Sandbox 3D.
The gaming industry has taken another step forward with cross-game interoperability. Warren is the world’s first personalized metaverse game, allowing players to interact with characters from other universes, such as Cat Gunner and Axie Infinity, and move in-game objects between games.
Players can also expect to visit various places, exchange weapons, recruit warriors, and engage in tournaments. The game experience can finally go beyond only earning prizes for playing with this feature.
WeMade CEO Henry Chang remarked in an online press conference on February 16 that “blockchain games are the beginning of well-made games, and when blockchain is attached, the game becomes more exciting.” “A paradigm change is occurring.
It’s a period of upheaval in which doubts and opinions clash over which path is correct and which is incorrect,” he said, asking game producers to set aside their preconceived notions about blockchain games being uninteresting.
Chang described an ecosystem in which the inter-game virtuous cycle economy is powered by a blockchain network-based non-fungible currency (NFT), claiming that games constitute the Metaverse’s heart.
“Games are at the heart of the metaverse,” he stated, adding that games are the most similar to present metaverse platforms. However, the metaverse world will undoubtedly expand as virtual reality is absorbed.
