Cement is slowly being replaced by pixels and engineers no longer have to worry about the physical laws, focusing solely on how appealing the building is. Sounds like nonsense, right? Well, metaverse building proves the opposite. 🔄
What is a metaverse?
The word “metaverse” has a much more generalised meaning, then just blockchain, but is currently used for mostly describing a decentralised platform, that allows you to create objects within it - a digitalised world in simple words.
Why are people using metaverses?
Blockchain as the base, provides the metaverse with two vital qualities, unavailable for centralised applications:
- Every item inside the metaverse can be possessed and by possession we do not just mean an image represented on your account, that still technically belongs to the item’s manufacturer - blockchain possession means all the item rights being held on the holders’ wallet. 💳
- The holder gets complete control over their asset and is able to execute any actions they can possibly think of with it (if an according smart contract is available obviously). ✅
Those two factors soon became the reasons for people to join any of the available metaverses and be active inside those. The users are throwing parties, organising conferences, exchanging and selling the in-game items and, most importantly, building. 👷♂️
That leads us to the next bullet point:
Why do companies join metaverse?
Ordinary users, being led by curiosity and boredom, find building in the metaverse as a way of self-expression and entertainment. Whereas companies build in the metaverse to keep up with the fans’ expectations and get loyalty from enthusiasts. 🤝
Remember the time when Bitcoin was created? Every company, investing into the foggy and highly misunderstood asset was supported by those geeks, who understood its possibilities back then.
The cycle is repeating now and crypto giants like Binance, Kraken and CoinGecko as well as companies that are part of the digital industry like Atari or HTC, for example, are trying to hop onto the hype train before it leaves. 🚝
And this is not some kind of a marketing strategy because even if it was one, the metaverse market is still too small for it to be profitable by now - companies are building for the purpose of simply showing they are aware of the trend. 👍
How it started and how is it going?
The initial buildings were simple rectangles with branding and product links all over and the interaction was limited by the user just looking at those, following the link if interested. Such advertising didn’t become too popular, but it was the foundation upon which the future versions of metaverse structures were based.
Later, companies like Binance and Kraken began using in-game NPCs greeting the visitors and communating with the latter by telling them the company’s history and the up to date achievements. They went even further afterwards by organising parties with DJs and even in game token giveaways. That was obviously quite attractive and didn’t require that much financing from the developers. 🙌
In 2022 the metaverse structures became proper cultural and entertainment centres, offering different quests and activities to the user. A great example would be a project, called Free TON, who brought 1000 users into their Telegram via in-game quest, that rewarded participants with TON tokens. 🤩
We are likely to see the technology developing with even more ways of interaction being implemented over time. And for the ones still not familiar to what metaverse is - give it a go, you will certainly enjoy the experience. 😉
Stay tuned 📻