Metauniverse is a permanent online 3D universe, which combines a variety of different virtual spaces. You can think of it as the future iterative computing form of the Internet. Users in the meta universe can work together, meet, play games and socialize in these 3D spaces.
The meta universe has not yet come out completely, but some platforms have been integrated with elements similar to the meta universe. At present, the experience brought by video games is closest to the meta universe. Developers expand the boundaries of the game by holding in game activities and creating a virtual economy.
Although cryptocurrency does not have to be integrated into the meta universe, the two fit very well. The combination of the two can create a digital economy that integrates different types of utility tokens and virtual collections (NFT). The universe can also benefit from the use of cryptocurrency wallets such as Trust Wallet and MetaMask. In addition, blockchain technology can provide an open, transparent, stable and reliable governance system.
Blockchain applications similar to the Metauniverse have come out, bringing people income to meet basic living needs. Axie Infinity is a game of “making money while playing”. Many users earn money by playing games. SecondLive and Decentraland also combine the blockchain world with virtual reality applications.
Looking ahead, large technology giants are actively leading the trend. However, the decentralized nature of the blockchain industry allows ordinary users to participate in the development of the meta universe.
The financial industry, virtual space and the physical world are increasingly connected. We can access almost all the content or services we want to experience at the click of a button on our daily devices. Cryptocurrency ecosystem is no exception. Non homogenous tokens (NFT), blockchain games and cryptocurrency payments are no longer the exclusive domain of cryptocurrency geeks. As part of the developing meta universe, they are now within reach and open to all.
What is the definition of the meta universe?
Metauniverse is a concept of online 3D virtual space, which closely connects all aspects of users’ lives. It connects multiple platforms, which is similar to accessing the Internet of different websites through a single browser.
This concept originated from Neil Stephenson’s science fiction novel Avalanche. Although it used to be a fiction, now it seems that the idea of the meta universe is very likely to become a reality in the future.
The universe is driven by augmented reality, and each user controls a character or avatar. For example, you can use Oculus VR earphones to participate in mixed reality meetings in a virtual office. After completing the work, relax yourself by playing blockchain based games, and then comprehensively manage the cryptocurrency portfolio and financial situation in the meta universe.
The existing virtual video game world has embodied some characteristics of the meta universe. Second Life and Fortress Night, or Gather Working social tools like town integrate various elements of life into the online world. Although these applications are not meta universes, there are some similarities with them. At present, the meta universe has not yet come out.
In addition to games or social media, it will also integrate economy, digital identity, decentralized governance and other applications. Even today, the creation and possession of high-value items and currencies by users will help to develop an independent and unified meta universe. With the blessing of all these functions, blockchain has the potential to empower this future technology.
Why are video games related to the meta universe?
Video games focus on 3D virtual reality, which can bring the experience closest to the meta universe at present. This is not just because video games use 3D special effects. Nowadays, the services and functions provided by electronic games have penetrated into other aspects of life. The video game Roblox even held virtual activities such as concerts and parties. Players no longer just play games, they regard them as activities in “cyberspace” and a part of life. For example, in the multiplayer game Fortress Night, 12.3 million players participated in Travis Scott’s virtual music tour in the game.
How does cryptocurrency fit into the meta universe?
Games and the meta universe have common ground in 3D, but they do not cover everything required by the meta universe. Cryptocurrency can provide other important content needed, such as digital proof of ownership, value transfer, governance, and operability. But what does this mean?
If we want to work, socialize, or even buy virtual goods in the meta universe in the future, we naturally need a safe way to show ownership. We also hope that these goods and funds can be safely transferred in the meta universe. Finally, if the meta universe will play an important role in life, we certainly hope to participate in the decision-making of the meta universe.
Some electronic games have adopted some basic solutions, but many developers choose to use more advantageous cryptocurrencies and blockchain technology blockchain to provide a transparent decentralized theme processing channel, while electronic game development is more centralized.
Blockchain developers are also affected by the world of electronic games. “Gamification” is a common concept in decentralized finance (DeFi) and GameFi. In the future, it seems that the two fields will have enough similarities to deepen their integration. The key points for blockchain to fit into the meta universe include:
- Digital ownership proof: If you have a wallet that can access the private key, you can immediately prove your ownership of activities or assets in the blockchain. For example, during work, you can display accurate transaction records in the blockchain to reflect accountability. Wallets are one of the most secure and reliable ways to establish digital identity and ownership certificates.
- Digital collection: Just like determining the owner of something, we can also prove the originality and uniqueness of the item. This is very important for the meta universe, which hopes to integrate more practical activities. With NFT, we can create objects that are unique and can never be completely copied or forged. Blockchain can also represent the ownership of physical items.
- Value transfer: The meta universe needs to transfer value through a secure method trusted by users. The in-game currency in multiplayer games is not as secure as the cryptocurrency in the blockchain. If users spend a lot of time in the meta universe, or even earn profits, they must need a reliable currency.
- Governance: For users, it is also important to control the interaction rules with the meta universe. In real life, we have the right to vote in the company, and we can also elect leaders and government officials. The meta universe also needs to find a fair governance method, and blockchain is already a mature solution in this regard.
5.: Accessible operation Anyone around the world can create wallets on the public blockchain. Unlike a bank account, you do not need to make any payments or provide any details. This makes it one of the most convenient channels for managing financial status and online digital identity.
- Interoperability: Blockchain technology continues to improve the compatibility between different platforms. Projects such as Polkadot (DOT) and Avalanche (AVAX) allow the creation of interactive custom blockchains. A single universe needs to connect multiple projects, and blockchain technology has launched a solution.
What is Metacosmic Work?
As mentioned above, the meta universe concentrates all aspects of life in one place. Although many people already work at home, in the meta universe, you can enter the 3D office and interact with the “avatar” of your colleagues. Your work may also be related to the meta universe, obtaining income that can be directly used in the meta universe. In fact, similar forms of work have emerged.
Today, GameFi and the “earn while playing” model are creating a stable source of income for players around the world. These online jobs are the best choice for the future meta universe program. They show that everyone is willing to invest time, enjoy life and earn income in the virtual world. Games like Axie Infinity and Gods Unchained that “earn while playing” don’t even have 3D worlds or avatars. However, the principle they believe in is that they can become part of the meta universe and create a channel to make money in the online world.
Although the interconnected single meta universe has not yet come out, we can experience many platforms and projects similar to the meta universe. They usually incorporate NFT and other blockchain elements. Let’s look at the following three examples:
SecondLive is a 3D virtual environment where users can control their avatars to participate in social networking, learning and work. The project also launched the NFT market for exchanging collectibles. In September 2020, SecondLive held the Harvest Festival of Coin Security Smart Chain, which is a part of its anniversary celebration. The virtual expo shows various projects in the BSC ecosystem for users to explore and interact.
Axis Infinity is a game of “making money while playing”, which creates stable income for players in developing countries. By purchasing or receiving three creatures named “Axie” as gifts, players can harvest “Soft Love Potion” (SLP) tokens. After selling in the open market, players can earn about 200 to 1000 dollars, depending on the depth of the game and the market price.
Although Axis Infinity does not provide a single 3D character or avatar, it provides users with a job opportunity similar to the Metauniverse. You may have heard that Filipinos use this game as a substitute for full-time work or social welfare, which has become a well-known anecdote.
Decentraland is an online digital world that combines social elements with cryptocurrency, NFT and virtual real estate. In addition, players can also play an active role in platform governance. Like other blockchain games, NFT represents decorative collections. In the game, users can also use the cryptocurrency MANA to purchase 16×16 NFT land LAND. All these characteristics combine to create a complex cryptocurrency economy.
What is the future of the meta universe?
Facebook has the highest voice on the issue of creating a unified meta universe. For the meta universe driven by cryptocurrencies, the Diem stable currency project launched by Facebook is of great significance. Mark Zuckerberg made it clear that he planned to use the meta universe project to support remote work and improve the financial situation of people in developing countries. Facebook sits on social media, communication channels and cryptocurrency platform, laying a solid foundation for multi field integration. Large technology companies such as Microsoft, Apple and Google are also planning to build a meta universe.
When it comes to the meta universe enabled by cryptocurrency, the deep integration of NFT market and 3D virtual world seems to be the next step. NFT holders have been able to sell goods from multiple sources in OpenSea, BakerySwap and other markets, but there is no widely used 3D platform. Blockchain developers may develop popular applications similar to the meta universe on a large scale, and the number of users they naturally acquire may even exceed that of large technology giants.
Although the independent and unified meta universe has a long way to go, we have seen the development trend that promotes its appearance. This seems to be another big science fiction use case in the integration of blockchain technology and cryptocurrency. Whether we can really realize the meta universe is still unknown. However, we can now experience projects similar to the meta universe and continue to integrate the blockchain into daily life.