With the popularity of NFTs and cryptocurrencies, conversations about the metaverse and play-to-earn game models are all the rage right now.
The metaverse is a digital space containing user-generated content and social interactions. This is the virtual world of the digital realm, and any user can not only interact with it, but also create content that affects this immediate digital environment.
Each world in the Metaverse is interconnected and persistent, just like our own universe.
What is Metaverse?
“Metaverse”- a major buzzword.
Before coming to that.
But do you remember Tim Berners-Lee?
He was the one who invented the World Wide Web (www) in 1989. In 1992, science fiction writer Neil Stevenson coined the term “metaverse” to describe a 3D virtual space.
Basically, Metaverse is a virtual world where you can live a synchronous life through your avatar. Think of it as a game. Instead of defeating mob bosses and zombies, you’ll participate in real-world activities.
These activities include attending conferences, meeting friends, attending music festivals; selling digital collections door-to-door, and buying and selling real estate, homes, and assets.
The truth is, the possibilities are endless. Because the Metaverse is billed at its core as a practical solution to real-world problems. It also has the potential to bridge the gap between the offline and online worlds.
Where did “METAVERSE” originate from?
There’s a short story behind it.
Let’s look into it.
The idea of a social and immersive 3D cyberspace was first proposed by Neal Stephenson in the 1992 science fiction novel Snow Crash. When describing it as a virtual world, Stevenson chose the word “metaverse.” Because it is synonymous with the term universe.
Fast forward to 2022. The Metaverse is a digital world created using various technologies such as virtual reality (VR), augmented reality (VR), cryptocurrencies, and the Internet.
But from Philip Rosedale’s online virtual world Second Life in 2003 to Mark Zuckerberg’s announcement of his Metaverse plans for his Meta (formerly Facebook) in 2021, a lot has happened in this 30-year span.
NFTs in a Metaverse World
NFTs are the focus of the Metaverse for good reason. NFTs enable ownership in a digital world that mimics the real world.
For example, your identity in the Metaverse could be represented by an NFT-style avatar. This allows you to have a unique, tamper-proof identity in your virtual world.
You can customize your avatar by combining attributes you like, such as race, hair color, and more.
What does “Play to Earn” mean in Metaverse Gaming?
Play-to-earn games are online games that allow players to earn valuable rewards in the real world by completing tasks, battling other players, and progressing through different levels of the game.
These rewards come in the form of in-game assets such as crypto tokens, virtual lands, skins, weapons, and other NFTs.
NFTs ease the notion of playing and earning in the metaverse.
Metaverse-enabled game applications can use NFTs to create in-game assets with real-world value. Players who earn these NFTs through play can later redeem them for real money. For example, you can be the owner of your own skins that you own entirely, rather than a centralized gaming company.
The value of NFTs increases over time as more people start playing the game and want to own a piece of it. You can then trade or sell your NFTs to earn more money.
NFTs are the key to building the Metaverse world envisioned by Neal Stephenson. The Metaverse can be used for more than just gaming, but earning by playing is the future of gaming, and the rise of NFTs will increase the awareness and acceptance of this gaming model.
GDS is also launching its very own gaming platform, GD Metaverse Gamepad, where players can earn crypto rewards by completing daily challenges in their Metaverse. Also, every game they play on this platform earns them GDS.
So, Get ready to play games and earn crypto rewards on GD Metaverse Gamepad.
Also Read: How to Create an NFT Marketplace in 2022?