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Impact, Growth & The Real Meaning Of The Metaverse

The metaverse, with the implementation of blockchain by its side, can become an incredibly powerful tool, as people are already finding new ways to get entertained and receive passive income online, getting used to a next-generation full-blown digital ecosystem.
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Sure, most of us with an internet connection and the slightest passion for fun, have had a virtual experience with our peers.

Who wants to play GTA with the default settings when there is an online mode for player-to-player interactions?

Who wants to trade stocks alone when there are social trading apps emerging?

Why bother trying to express yourself on one new webpage among billions when there are massive platforms like Twitter that gather an audience for you?

Evidently, we strive towards collaboration and mutual experiences, because we do our best when together. There has not been a more engaging and exciting time to think about the metaverse and the benefits it can bring, as we are closer to creating technology sufficient enough for virtual worlds by the day.

It’s as if the metaverse was our civilisation’s obvious next step. The healthy way to think about such large-scale concepts and innovations is to look at patterns presented in our recent history.

Technology Shifts In History And Sci-Fi

To take AI as a comfortable example, in the 1920s-30s, conscious robots were already considered to be an upcoming phenomenon by pop culture, and one must take into account the fact that the transistor was only invented nearly two decades from then.

A similar aspect can be observed in the first-ever mention of the metaverse, which happened to be in a 1992 novel named Snow Crash. As artists, creators, and businesses saw the emergence of the personal computer, along with a resulting 2001 tech bubble, concepts like the metaverse came to life.

Unlike AI, the metaverse turned out to be a lot nearer, with its first significant baby-steps taking place as soon as in the early 2010s. It would be difficult to argue against the fact that so far, gaming has been impacted the most by the idea of a virtual world that can have its own different economy, politics, even laws of physics.

Speaking of different economics, or should we say tokenomics, the metaverse idea has best reached the minds of Web3 enthusiasts, as cryptocurrencies and NFTs have paved the way for new kinds of value creation and exchange.

The metaverse, with the implementation of blockchain by its side, can become an incredibly powerful tool, as people are already finding new ways to get entertained and receive passive income online, getting used to a next-generation full-blown digital ecosystem.

As we know, in software, a lot of completely separate different parts and features can become interconnected because of the brilliance of a dedicated programmer.

Therefore, we can even have things like metaverse-based financial, legal, human resource, social systems connected and recognised by the ones of our physical world, among a million others.

The Reality Of Today’s Metaverse

However, as much as the metaverse can sound revolutionary, fun, and immersive, there are always outliers that misunderstand or misrepresent the whole concept in the first place.

Do many believe that someone like Meta, formerly Facebook, can delight the consumer with their perfectionist dystopian ideas?

In honesty, it is hardly believable primarily because of the exploitative nature of such companies. Walmart, on the other hand, expects the customer to spend as much time on purchasing necessities in the metaverse as they would just ordering them with a click of a button on a website.

Moreover, it is not just Meta who is taking advantage of the new shiny thing by adding their own, often hardly-graspable spices to the main mix – even Web3 enthusiasts and projects themselves tend to miss the point of the metaverse.

Technology – cryptography, network, blockchain – experts we have talked to, who are interested in the growth and the potential of the metaverse, have noticed that the industry, like many others, has been flooded with searchers of the low-hanging monetary fruit, eliminators of fun and games, takers-away of privacy and the true transaction value for their own benefit.

It is simply sad to see parts of the massive potential wasted in building the same repackaged products. Nowadays it seems like if a project or an individual can launch something the least bit related to NFTs, blockchain, and digital items, they get the right to promote themselves as builders of the metaverse.

In our book, that’s not fair, especially when there are exceptional engineers creating the real infrastructures of a digital tomorrow somewhere decorated with crypto logos.

The Bright Side Of Metaverse Developments

To go back to the positive side of the equation, it would be worth mentioning some of the projects that actually do the work in creating beneficial metaverse ecosystems.

Decentraland is truly one of the most recognisable and meaningful metaverse projects in the history of blockchain. It is both a platform of DeFi games and marketplace of cutting-edge NFTs powered by its ever-popular MANA token. Usually, whoever first learns about the metaverse and Web3, dives head-first into Decentraland.

Another, as robust and feature-full platform creating real experiences is called Somnium Space, a project that developed its own virtual reality world which is currently available on Steam, with the digital items from it staying on OpenSea.

It would also be a bummer to miss mentioning a community-driven ecosystem like The Sandbox, enabling anyone creative enough to monetize their voxel-based metaverse in-game assets, whilst others can make & play games, buy virtual land, and connect with other games like Minecraft, and so much more.

Even in Web2, social media has shown that user-generated content wins!

SparkWorld* & How Fair Rewards Can Win

At the same time, smaller emerging NFT & metaverse projects can innovate too, and some of them have proved themselves to be very effective at it.

Take SparkWorld*, which is, among other things, a predictions platform, an NFT marketplace, and the inventor of the Fair Prediction Launch (FPL) – a mechanism built to maximise user fairness in NFT whitelisting and ensure that every participant’s promised deliveries are met.

SparkWorld* is important as it has completely reimagined the structures of both NFTs and pieces of the metaverse – on the platform, NFT collection launches and users’ rights to them come from dedicated predictions, depending on how accurate they are.

SparkWorld*’s Twitter account features talks, AMAs, community sessions that focus on discussing the potential of fair launch implementations in NFT ecosystems, and the forgotten beauty of fun that has driven many industries until they became largely corporate.

The project’s own $SPRK token acts as the staking enabler in prediction pools, as well as a governance token providing voting rights, and the determining factor on the level of allocation, or rewards a user will receive based on their holdings.

Such innovative ecosystems building fair mechanics instead of repackaging, repurposing older products, are perfect examples of how one can succeed in crypto whilst delivering value to the space and remaining highly ethical in the process.

Don’t miss out on the latest projects that really do the work for the brighter future of the metaverse, and check out the ones mentioned above – with these, gamification, fun, rewards, and community events – it seems they never end!

Twitter:

How do we own a part of the metaverse future the right way when there is so much initiative to industrialise it?

Very few ventures are building products suitable for accessible virtual worlds, but SparkWorld* will be one of them!

📇Read more: LINK

Telegram:

Hi everyone! Have you ever wondered about the exact reasons why companies like Meta are constantly embarrassing themselves when it comes to provable innovations?

We see these as attempts to push the narrative they want to see. The truth is, there is no place for new artificial social narratives, there is only place for meaningful tech creation.

Check out the latest thoughts on the metaverse’s impact on gaming, NFTs & SparkWorld* here: LINK

Discord:

Hello fair launchers! We bring you once again a piece of deliberate descriptions of the metaverse – i.e. what is actually going on in this space today, and where it is seemingly headed!

If you told us that Meta is about to conquer the metaverse, we would not believe you, because its track record and its shallow meaningless narrative-pushing does not interest the enthusiast.

We know that Web3 people are the ones building a usable metaverse, and SparkWorld* will hopefully become one of the top builders out there!

Read more here: LINK




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Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact Oliver@blockonomi.com

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