Metaverse Hype leads to a surge in Crypto Gaming


Before we get into the metaverse world and its consequences on crypto games, let’s understand the basics.

The concept of a metaverse can be thought of as a type of online animation or, at the very least, a three-dimensional representation. According to Zuckerberg, it is a “real place” that you can enter instead of just looking out the window. It is a community of permanent, connected people where people can meet, work, and play using VR headsets, AR glasses, smartphone apps, and other technologies.

“It ‘s the next evolutionary connection where all these things begin to come together in a harmonious universe, so you are living your life the way you do your physical life.”

Victoria Petrock, a professional,

Crypto Games

The concept around Crypto Gaming is simple to understand. In the traditional games, one tended to buy the game or put money on the head for free. Now, these games pay you to play them, and I encourage you to make the most of your time and, in some cases, share a small amount of money with the company that made it.

With sports companies continuing their demands during the epidemic, research shows that in 2020, £ 1.6bn ($ 2.2bn) more was spent on video games in the UK compared to last year.

Research from InvestGame shows how in the gaming sector, cryptocurrency proves to be a successful combo. One of the most popular crypto games, Axie Infinity, has surpassed $ 1 billion in revenue.

Advertisers are shouting for their participation in the game changer. According to InvestGame, the number of financial businesses is four times a year, and the available revenue is more than $ 450 million by 2021.

Crypto and Metaverse games

Metaverse was first described in Neal Stephenson’s novel Snow Crash, published in 1992.

Users around the world will be able to meet, communicate, work, and play games in a unique three-dimensional world. Players with their digital avatars will enter Metaverse with the help of Augmented Reality (AR) and Virtual Reality (VR).

Now, even though such a world did not exist (yet), the bonds are gradually being established. Axie Infinity, Decentraland, and SecondLive are examples of blockchain-based metaverse-like programs. These online games allow players to play for money, buy and sell real estate, and more.

The game, along with other world-famous apps like Fortnite and Roblox, now offers the most up-to-date information.

Roblox participants, for example, will not be forced to follow a premeditated plot. Instead, they can attend or arrange meetings and other parties. According to sources, people spent about 1.3 billion hours playing Roblox in the first quarter of 2021, and more. 202 million users.

According to DappRadar, most of the dapp industry activities are currently based on blockchain-based games. In October, 1.19 million private wallets (UAW) were connected to the sports dapps, accounting for 55% of the total, to continue public control that began in September. Axie Infinity and Splinterlands, both NFT-affiliated games, are in the lead, while some new rivals who have already started at Polygon and BSC have started to adopt the genre.

In October, the dapp business saw more than 2 million wallets daily, up 21% from last month and 626 percent annually. The market share of the top 100 Ethereum NFT and NBA Top shooting was $ 16.72 billion, up 18% from September. (Adapted from October 2021 Report, DappRadar)

Crypto games also attract more investors who want to have more and more popularity. Sky Mavis raised $ 7.5 million on his first fundraiser, thanks to Mark Cuban funding. Bitkraft Ventures, a financial company, has announced a $ 75 million fund for cryptocurrency games.

Both Solana and Polygon have started investing in the first blockchain game that combines economics (DeFi) on their platforms to upgrade. Solana charges itself as a complete blockchain; According to sources, raised $ 12 billion at DeFi, increased 50% since September in TVL, and recorded $ 240 million in NFT sales, including a series of upcoming games.

“Metaverse has become a very new target for many professional professionals around the world. It is the epicenter of Epic Games, maker of Unreal Engine and Fortnite. many others, such as AR glasses and brain and machine connections, “

Author Matthew Ball, Managing Partner at EpyllionCo and Venture Partner at Makers Fund, in him blog for Metaverse.

Platforms like Metaverse are slowly evolving into a digital asset with a variety of useful and integrated features due to their open format.

Regardless of the technology giants who are showing the most interest in the world, it is impossible for these digital behemoths to help one of them monitor and direct their sharing.

As a result, a blockchain-based administrative model emerges, in which a group of users, participants, and community members work together to build and maintain metaverse networks. This is because blockchain has the ability to capture user-generated areas, digital content transfers, and financial transactions.

All of these activities are secure, public, and stable thanks to blockchain assets, which facilitate the transition into the hands of ‘players’ instead of intermediate organizations that have access to privacy in history.

End

The latest Facebook update to “Meta” has taken place promote growth metaverse games. Decentraland and The Sandbox have seen their birthmarks rise in price, while sales volumes at NFTs games on OpenSea have skyrocketed.

Some blockchains want to establish their own gaming systems while crypto games demonstrate their potential to attract consumers. Solana Ventures, Lightspeed Venture Partners, and FTX are included announced a $ 100 million deal developing games on Solana’s internet, citing high-speed, low-cost networks contribute to the smooth running of crypto games.

The future of crypto games in Metaverse is very exciting for all Meta lovers out there!

Disclaimer: Cryptocurrency is not legally recognized and is not operated here. Please be sure to check the validity of the transaction in trading cryptocurrencies as they are usually subject to price fluctuations. The contents of this section do not represent any financial advice or responsibility of WazirX. WazirX reserves the right to modify or edit this post at any time and for any reason without notice.


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