As time goes by, humans are more technological by nature. It’s a simple consequence of evolution. In the 2000’s the internet was something that only some nerds understanded but now we can’t live without it.
Personally, I think that the same is happening now with the Metaverse
Last year we saw a huge number of companies developing “Metaverse projects” or thinking in their “Metaverse strategy”.
We know because as Crowdcreate we helped some…
Words like “Crypto” “NFTs” or even “Metaverse” were everywhere. In the news, in social media, in the random conversations of the people. But despite being named everywhere, no one understood perfectly what the Metaverse was.
What is the Metaverse?
A Metaverse, in other terms, is a three-dimensional world that is known to include numerous virtual places that are imitations of the physical reality.
“Mentally replace the phrase “the Metaverse” in a sentence with “cyberspace.” Ninety percent of the time, the meaning won’t substantially change. That’s because the term doesn’t really refer to any one specific type of technology, but rather a broad (and often speculative) shift in how we interact with technology” said Eric Ravenscraft.
Many companies that have hopped on board the Metaverse bandwagon also envision some sort of new digital economy, where users can create, buy, and sell goods. In the more idealistic visions of the Metaverse, it’s interoperable, allowing you to take virtual items like clothes or cars from one platform to another, though this is harder than it sounds.
This is the popular conception of the Metaverse: a VR-based world independent of our physical one where people can socialize and engage in a seemingly unlimited variety of virtual experiences, all supported with its own digital economy.
While VR is considered a key ingredient of the Metaverse recipe, entrance to the Metaverse is not (and should not) be limited to having a VR headset. In a sense, anyone with a computer or smartphone can tap into a Metaverse experience, such as the digital world of Roblox.
Now, in the crypto sense of the word, – it is a virtually created world that exists on a blockchain and works on the principles of a blockchain network. Hence it derived value from the fact that it adheres to those values and principles.
Fashion NFT
Most important Metaverse Projects
Decentraland
Decentraland is a platform enabling users to be a part of a shared virtual world. And to do so, it has created an entire virtual ecosystem on its platform where users can buy or sell digital property, play games, exchange collectibles, socialize, interact and explore.
Decentraland was founded in 2015 by Ari Meilich and Esteban Ordano and launched in 2017. Decentraland began as a proof of concept where it could allocate ownership of a digital real estate plot to its users on the blockchain. The platform was developed as a 2 Dimensional project that slowly transcended to a 3D world.
There are two different types of tokens in Decentraland:
- LAND – A non-fungible token (NFT) used to define the ownership of land parcels representing digital real estate.
- MANA – A cryptocurrency that facilitates purchases of LAND, as well as virtual goods and services used in Decentraland.
The Decentraland DAO is one of the integral highlights of the Metaverse platform as it ensures truly decentralized governance. Users have complete control over the content and experiences developed on a specific parcel of virtual real estate. Users can have complete control over the earnings from transaction fees they earn to offer value to other users. Decentraland does not involve any hidden charges, commissions or fees for intermediaries or Decentraland itself.
Companies like Samsung, Nike, Coca Cola, Atari or JP Morgan have already developed projects within this Metaverse.
Sandbox
Sandbox allows users to create, share, and monetize their assets (like real estate) and gaming experiences. People can own assets, play, build, and own their properties and in-game assets in the virtual world. Plus, they can sell such assets and earn real-world money in exchange.
The Sandbox blockchain gaming platform consists of three integrated products that together provide a comprehensive experience for user-generated content production:
VoxEdit
Is a simple to use yet powerful free 3D voxel modeling and NFT creation package for PC/Mac that allows users to create and animate 3D objects such as humans, animals, vehicles, foliage, tools and items. Voxels, which are square 3D pixels similar to building blocks, can be manipulated using VoxEdit to quickly create beautiful creations. Once built, objects can be exported from VoxEdit into The Sandbox marketplace to become NFT game ASSETS.
Marketplace
The Sandbox’s NFT marketplace allows users to upload, publish, and sell their NFT creations made with VoxEdit. Creations are first uploaded into an IPFS network to provide decentralized storage and then registered onto the blockchain to prove ownership. Once this is accomplished, creations become ASSETS that can be sold by making an initial sale offer on the marketplace where potential buyers can then purchase them.
The Sandbox Game Maker allows anyone to build amazing 3D games for free. No coding is required thanks to accessible visual scripting tools to create stunning 3D games in minutes. Creators like you contribute to a vast Metaverse, filled with a wide range of amazing interactive creations and experiences.
The Sandbox uses several token types to ensure a circular economy between all the types of users who will interact with the platform: players, creators, curators, and land owners:
SAND
The ERC-20 token is used within The Sandbox as the basis for all of the ecosystem’s transactions and interactions.
LAND
A digital piece of real estate in The Sandbox Metaverse. Players buy LAND in order to populate it with games, assets and interactive experiences. Each LAND is a unique (non-fungible) token lying on the public Ethereum blockchain (ERC-721).
ASSETS
A token created by players who build/assemble user generated content (UGC). ASSETS utilize the ERC-1155 standard and can be traded on the marketplace, with their main utility being to serve as creation elements in The Sandbox Game Maker.
If you want to learn more, check the following official report written by the company
Otherside
Otherside is a 3D Metaverse that appears to offer a gaming format for Bored Ape NFT holders. Created in partnership with Animoca Brands, Otherside will be powered by ApeCoin.
The platform will turn NFTs into playable characters while collectors can own land in this open-world game and engage with various ecosystems.
Otherdeeds is the name given to land plot NFTs in The Otherside Metaverse. They are dynamic NFTs built as a collection of game elements. Each Otherdeed comes with a set of resources; a few Koda, which we will cover in detail here.
One notable thing about Otherdeeds is that they are regarded as Dynamic NFTs. This means the traits of an Otherdeed can change based on what you do in the game. Having interchangeable traits means opportunities to add or remove resources from land, thus creating a secondary marketplace for each item.
But while plenty of games have had the fortunes of major publishers tied up in their future success, few have had the fortunes of their actual players relying on a successful launch. Yuga has already banked plenty of user investment on the future promise of Otherside. The startup raked in roughly $317 million in an NFT land sale for the game, selling 55,000 virtual plots called Otherdeeds.
The idea here is for an open, interoperable universe, not the sort of 50% rake that we’re seeing in other places. Assets can be user generated, user owned, moved off the platform and no one’s stopping you,” Bored Apes co-founder “Gargamel” tells us.
The platform is still in beta but it’s definitely one of the most promising ones.
Cryptovoxels
Cryptovoxels is a Minecraft-inspired Ethereum-based Metaverse. This virtual world consists of real-life infrastructure like roads, buildings, lands, etc. Users can own land parcels & build structures on top of it. Ethereum can be used to purchase land parcels.
Cryptovoxels is created by Nolan Consulting. It was founded on April 1st, 2018. Cryptovoxels project was built to initiate a Metaverse on the web. They took inspiration from past works on SceneVR and A-FrameVR and realized the true potential of the virtual world were land ownership was recorded on the Ethereum blockchain (using an ERC721 token).
It is a web-based Metaverse and can be accessed through browsers like Google Chrome, Opera, and Mozilla firefox. Cryptovoxels uses babylon.js to provides quality and high-performance rendering within the browser.
Through website you can create a new space or enter the Metaverse instantly. Spaces are secluded land pieces that are not accessible directly by anyone. However, you can create a URL of your space and share it with your friends, where they can access your parcel through the teleport link on their grids. But as of now, it is single player only. Your friends can’t see you & vice-versa.
Metahero
Metahero is a brand-new Metaversemetaverse item that revolves around the creation of 3D avatars of real-world people and objects using 3D scanning. The startup claims to have installed a scanning chamber in Doha that scans items and creates a virtual, 3D version for the Metahero universe.
With the decentralized Metahero platform, you can create your very own lifelike virtual 3D avatars and items using advanced 3D scanning technology; and what you create can be integrated across games, VR, social media and more. And if that’s not enough, Metahero’s meta-scanning technology also allows you to create NFTs from real-world collectibles and works of art.
Diving further into Metahero and how this technology works, it’s important to note the Metahero project is built on the Binance Smart Chain and a smart contract–enabled platform used for DApp development. This allows Metahero to combine NFT smart contracts and 3D scanning to generate completely custom meta-avatars and items.
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Conclusion
In conclusion, we can all agree that the Metaverse industry as a whole is at a very nascent stage. It will require some more time to gain more substance and definition before it can actually solve real-world problems. But it is undeniable that Metaverse will be the next big thing that will revolutionize the internet and how humans operate in the world today. Which is why major corporations are pouring billions of dollars into building for this Metaverse space.
The only thing that we know is that all of these Metaverses are working towards the same goal: allowing more overlap between our digital and physical lives.
