Metaverse Platform Decentraland – A New way to Play

Play has been an important part of the human experience since the dawn of time, and our obsession with play doesn’t seem to be fading anytime soon. Today, we have new technologies that enable us to interact with each other in new ways and explore virtual experiences that were previously impossible or too expensive to create in the real world. Decentraland is an example of just such a technology, and it enables its users to create their own virtual world – a metaverse – using blockchain and VR technology. It’s like Second Life, but on steroids!

What Is Decentraland?

Decentraland is a metaverse platform that uses blockchain technology to give users ownership of their virtual world. This means that the game can not be shut down or censored by anyone and that all in-game assets are immutable and owned by the player. Decentraland is also one of the first games to offer a decentralized economy, where players can buy, sell, or trade virtual goods and services with each other.

Who Is the Team Behind It?

The team behind Decentraland is a group of blockchain and virtual reality enthusiasts. The group is led by co-founders Ariel Meilich and Esteban Ordano, who both have experience in the gaming industry. They are joined by a team of engineers, designers, and entrepreneurs. Together, they are building a new virtual world that will be powered by the Ethereum blockchain.

The Land Model

In Decentraland, the land is permanently owned by the community, and it’s organized into a decentralized network of plots. Plot owners can use their land as they see fit, and they can develop it however they like. There are no landlords, no rent, and no rules imposed by a centralized authority. You’re free to build whatever you want, and you can even sell or lease your land if you choose. You own what you create in this world, with everything in this space being 100% transparent and incorruptible. And since there are no restrictions on what kind of content can be created in Decentraland, anything from games to gambling sites, virtual storefronts to cinemas may arise.

The Genesis City Launch

There are some really awesome projects being built on the Decentraland platform. One of them is an online casino called Satoshi Casino. Satoshi Casino is a 100% decentralized casino that allows users to gamble with real money. Another project is called The Crystal Kingdom, which is a virtual world that allows users to explore, build, and interact with others. The possibilities are endless with Decentraland, and we can’t wait to see what else is in store for this innovative platform.

Awesome Projects Being Built On Decentraland

There are some really awesome projects being built on the Decentraland platform. One of them is a project called The Grid. The Grid is a decentralized virtual world that you can explore and interact with. You can also build your own creations in The Grid, and share them with others. If you’re into art, this might be the place for you! Another project worth mentioning is Reality Clash. Reality Clash allows players to battle each other in a first-person shooter-style game with augmented reality capabilities (AR). 

A Third game worth mentioning is Etherbots: Etherbots is a Mech robot fighting game that allows players to construct their own robots from parts they purchase or win from battles. These parts will affect how well your robot performs during battles and many more factors as well. 

Lastly, there’s Luna City: Luna City allows users to buy plots of land for them to design themselves and make their dream home or building come true by putting it all together just like they want it!

What Can You Do In VR?

There are a lot of things you can do in VR, but one of the most unique experiences is found in Decentraland. This is a virtual world that runs on the Ethereum blockchain. That means that it is decentralized, and not controlled by any one company or entity. You can explore the world, meet new people, and even play games. The possibilities are endless!

Incubate with Us- Metaworks Holdings

Metaworks Holdings is an incubation company formed to create new, foundationally stable, scalable business units primarily focused on modeling existing, successful, traditional, and/or progressive recurring revenue streams existing within existing and new Metaverse. 

The ultimate goal is for each business unit to raise money independently and provide best-in-class products or services in each of their respective industries. Additionally, all units incubated under Metaworks will be able to get added benefits from the other businesses’ goods or services in our ecosystem. Find out more: metaworksholdings.com.

A Beginner’s Guide to the Metaverse Platform Illuvium

What if you could create your own reality? Not just any reality, but a better one? You can with the Metaverse platform Illuvium, which serves as the infrastructure on which businesses and applications run in the virtual space. In this article, we’ll take a look at what Illuvium does and how it works so that you can decide whether it might be right for your business or the application’s needs.

What is the Metaverse?

The metaverse is a platform that allows users to create and interact with virtual reality (VR) environments. It is also sometimes referred to as a virtual world or a 3D internet. Unlike traditional video games, the metaverse is not limited to one specific genre or type of content – it can be used for anything from social networking to education and training. For instance, imagine having the ability to virtually visit any location in the world by just putting on your VR headset. Or what about being able to have a real-time conversation with anyone in the world regardless of where they are? There are many different ways people are using VR right now but these are just two possible examples of how people might use this technology in the future.

Why would anyone care about this VR app?

The Metaverse is a virtual reality platform that allows users to explore and interact with a wide range of digital content. This includes everything from video games and movies, to educational content and online social experiences. What makes the Metaverse so unique is its ability to blur the lines between what is real and what is virtual. For example, you can explore a virtual world that looks and feels just like the real world, or you can enter into a game or movie and be completely immersed in the experience. With your Metaverse-enabled glasses, you will feel as if you are actually inside of the 3D environment. No matter where you go on this platform, it will feel like your entire body has been transported into an alternate universe!

How does it work?

The Metaverse is a 3D virtual world that you can explore and interact with others in. It’s similar to platforms like Second Life and Habbo Hotel, but with more of an emphasis on user-created content. The difference between these worlds and the Metaverse is what they focus on. Whereas these other worlds have traditionally been mostly focused on social interactions, Illuvium has much more game-like elements such as quests, experience points (XP), guilds, and even turn-based combat. In this way, it is closer to massively multiplayer online games (MMOs) like World of Warcraft or Final Fantasy XIV than it is to Habbo Hotel or Facebook . . . In addition to having its own narrative thread outside of the players’ actions, there are also quest lines for users who are just interested in exploring the world or advancing their character without being part of a guild or trying to compete against one another.

How can I get involved in this project?

If you’re interested in getting involved with the Metaverse platform Illuvium, there are a few ways you can do so. First, you can join the community forum and participate in discussions about the project. You can also help test the platform by becoming a beta tester. Finally, if you’re a developer, you can contribute to the project by developing plugins or working on other aspects of the codebase. To get started as a developer, you’ll need to become familiar with our GitHub repo and submit your contribution for review by their team.

Where can I buy an illuvium token?

If you’re interested in purchasing an illuvium token, you can do so through a variety of exchanges. Binance, for example, lists illuvium under the symbol ILM. Alternatively, you can also purchase ILM through decentralized exchanges like Uniswap. Keep in mind that illuvium is still a relatively new project, so there may not be as much liquidity on these exchanges compared to others.

How do I use my illuvium tokens in-app?

In order to use your illuvium tokens in-app, you must first add them to your app wallet. To do this, tap the Add Tokens button in the top right corner of your app wallet. Then, select illuvium from the list of supported tokens. Finally, enter the amount of illuvium you would like to add and tap Add.

Investing in Lluvium

If you’re thinking about investing in Lluvium, here’s what you need to know. Lluvium is a decentralized platform that allows anyone to create and run virtual worlds. This means that there are no central servers or authorities controlling the platform. Instead, it is powered by a network of nodes run by volunteers. Because of this decentralized design, Lluvium is very resilient and can’t be shut down by any one entity. Investing in Lluvium is a bit different than investing in other cryptocurrencies. Since there is no company or team behind Lluvium, you are essentially investing in the community and the technology itself. This can be a risky investment, but it also has the potential to be very rewarding if the platform succeeds.

Give the Metaverse a chance

Everyone should give the Metaverse a try at least once because it’s a novel way to use the internet. It’s an interactive, three-dimensional virtual world that you can explore. And although the Metaverse initially seems like a game, it is much more than that. You can be yourself there, make new friends, start a business, and have completely new experiences. Therefore, give the Metaverse a shot. You might discover that it’s the greatest invention since sliced bread.

Incubate with Us- Metaworks Holdings

Metaworks Holdings is an incubation company formed to create new, foundationally stable, scalable business units primarily focused on modeling existing, successful, traditional, and/or progressive recurring revenue streams existing within existing and new Metaverse. 

The ultimate goal is for each business unit to raise money independently and provide best-in-class products or services in each of their respective industries. Additionally, all units incubated under Metaworks will be able to get added benefits from the other businesses’ goods or services in our ecosystem. Find out more: metaworksholdings.com.

How Roblox is Taking Over the Metaverse

Roblox may not be the first name that comes to mind when you think of virtual reality (VR), but it’s still making huge strides in the development of the metaverse platform. With an audience of over 30 million active players, Roblox has positioned itself as one of the leading innovators in the realm of 3D and VR technology, especially among kids and teenagers. Here’s how they’re taking over the metaverse…

Introducing Roblox

Roblox is a platform that allows users to create and share their own 3D games and experiences. It’s been around for over a decade, but in recent years has seen a surge in popularity. And it’s not just for kids – adults are getting in on the fun, too. The game encourages players to make everything from MMOs (massively multiplayer online games) to farming simulators. The sky’s the limit! As of November 2017, there were 18 million unique monthly players with 2.3 billion hours played every month across 459 million user-created games. Games on Roblox span different genres including action-adventure, building simulations, survival horror, social networking worlds for tweens, and more. There are even apps available for iOS and Android devices so you can play any time or anywhere!

What is happening with the Platform Now

Roblox is a platform that allows users to create and share their own 3D games and experiences. It has been around since 2006 and has recently begun to gain mainstream attention. The platform has seen a surge in popularity due to the coronavirus pandemic, as people are looking for ways to entertain themselves while stuck at home. In addition, Roblox has been making moves to expand its reach into the world of esports. The platform recently partnered with Twitch to bring live-streamed tournaments to its users. With all of these developments, it seems clear that Roblox is positioning itself to be a major player in the metaverse. Whether or not they will be able to maintain this growth is unclear, but one thing is certain: if you want to make the most out of your downtime during this epidemic, then download Roblox today!

Are You Ready for the Future of Virtual Reality Gaming?

In 2006, this little-known game development platform called Roblox was launched. It allowed anyone with an internet connection to create and share their own 3D games. Today, Roblox has over 150 million active monthly users and is valued at $2.5 billion. The company has been profitable for the past three years and is backed by top-tier investors like Andreessen Horowitz, Altos Ventures, and Index Ventures. It’s safe to say that the future of virtual reality gaming is in good hands. Whether you want to explore massive multiplayer worlds or go on crazy adventures with your friends, Roblox can give you just about anything you could ask for.

How Roblox Makes Money

Though it’s a gaming platform first and foremost, Roblox has been making moves to position itself as a powerful player in the metaverse space. And it’s no wonder why – with over 150 million active monthly users, the company has a lot of potential to grow. The company makes money by selling a premium currency called Robux that can be used for in-game purchases or saved up to buy power-ups, clothing items, and other virtual goods. 

Since its inception in 2004, Roblox has grown into one of the largest gaming platforms for kids aged 8-18. The focus on user safety means parents need not worry about their children coming across inappropriate content when they play online games on the site. It also fosters creativity through its Create mode where players can build worlds from scratch using programming code or scripts.

Opportunities in VR Through Roblox

While Roblox has been around for over a decade, it has only recently started to gain mainstream attention. Despite being a latecomer to the VR scene, Roblox has managed to amass a large and passionate userbase. And with the recent release of Oculus Quest, more people than ever before are able to experience VR. Given that most users in this new market will have little or no prior knowledge about VR, having an intuitive platform is key. Roblox offers one of the best introductions to virtual reality with immersive experiences for players as young as eight years old. The game also does not require any additional hardware beyond what comes in the box.

How to get involved in the Roblox Metaverse

Getting involved in the Roblox metaverse is easy and there are many ways to do it. The first way is to create a game. You can use Roblox Studio to create a game from scratch or you can use one of the many templates available. Once you have created your game, you can publish it to the Roblox website for others to play. You can also create an avatar and explore the many games and worlds that exist within Roblox. There are also opportunities to socialize with other users and make new friends. Finally, you can monetize your games and avatars by selling in-game items or creating premium content that requires a subscription.

Can you make an income on Roblox? 

Yes! You can make an income on Roblox by developing and selling games, or by creating and selling digital assets like models, decals, and animations. You can also earn money from advertising and from premium memberships. There are many ways to make money on Roblox, and more ways are being added all the time. So if you’re looking to make some extra cash, or even a full-time income, then Roblox is a great platform to explore. It’s not just for kids, as people of all ages play on Roblox. But don’t take my word for it: go sign up now and see for yourself!

Incubate with Us- Metaworks Holdings

Metaworks Holdings is an incubation company formed to create new, foundationally stable, scalable business units primarily focused on modeling existing, successful, traditional, and/or progressive recurring revenue streams existing within existing and new Metaverse. 

The ultimate goal is for each business unit to raise money independently and provide best-in-class products or services in each of their respective industries. Additionally, all units incubated under Metaworks will be able to get added benefits from the other businesses’ goods or services in our ecosystem. Find out more: metaworksholdings.com.

What’s the Metaverse Got in Store for Us in 2022?

What was once only the subject of science fiction and fantasy novels has now become a reality in the form of virtual and augmented reality, otherwise known as the metaverse. The metaverse has come a long way since its inception, especially with the introduction of high-quality VR headsets that make you feel like you’re truly living in an alternate reality. This type of technology has seen improvements throughout the years as well as an increase in users as more people continue to adopt it. What does this mean for us? A lot!

Super-popular social VR apps

Social media platforms like Facebook, Snapchat, and Instagram have been integrated into many people’s lives. Now, imagine a world where you can not only see and communicate with your friends online but also visit them in virtual reality. This is the metaverse: a virtual reality that mimics or even surpasses the physical world. There are many different metaverse platforms now, each with their own unique features. So which ones are the most popular and why? First of all, there’s Virtuosity. Virtuosity has its own currencies–VIRT tokens–and offers users a wide variety of monetization opportunities through its marketplace. Second, there’s 7th Reality (formerly Holo). 7th Reality lets players create their own worlds and share them with others as well as explore other worlds created by other users. Thirdly, there’s Beyonder Universe (BUU). BUU is one of the first metaverses to implement Augmented Reality overlays on top of Virtual Reality–in other words, AR avatars!

Popular entertainment apps

In a world where we’re increasingly spending more time online, it’s no surprise that the metaverse is becoming more and more popular. From social media platforms to gaming worlds, there are now many different ways to experience the metaverse. But which ones are the most popular? And why? Well, as I mentioned before, it depends on what you want out of your metaverse experience. Do you want to create your own games? Well then Unity may be for you! Do you want to watch anime? Then maybe Crunchyroll would be better suited for you! These two apps are some of the most popular choices because they provide a wide variety of experiences and features at an affordable price (though this can vary depending on your subscription).

Popular 3D creation apps

In just a few years, the metaverse has become a bustling place full of people from all corners of the internet. And with the advent of new platforms and technologies, it’s only going to get bigger and better. Here are three of the most popular 3D creation apps that are currently available 

-Minecraft: Minecraft offers one of the most varied environments to build whatever you can imagine. You can even fly around your creations with an Oculus Rift! It’s not perfect though; some have complained about glitches and lack of updates which cause lag. 

-Blocksworld: Blocksworld offers a simpler environment than Minecraft but still includes many features like easy importing and exporting projects as well as having multiple building materials. It does not have as much flexibility or depth though, which is why many players prefer Minecraft. 

-Google Blocks: Google Blocks is another app that offers less flexibility than Minecraft but more than Blocksworld.

Favorite educational apps

In a world where we can do just about anything from the comfort of our homes, it’s no surprise that metaverse platforms are becoming increasingly popular. But with so many to choose from, which ones should you be using in 2022? Here’s a rundown of some of the most popular metaverse platforms and what they have to offer. Seesaw is one of the more popular apps for children, as it offers a range of educational games designed to help them learn without realizing they’re learning at all. 

The app has over 2 million downloads and has been used by over 40 million students across 190 countries. 

Metaverses like Seesaw will play an important role in education during this decade as schools will continue their focus on STEM subjects. 

For those who want to use VRs instead of screens, VR Chat is one option- this application offers users a virtual reality chat room through which they can interact with other people around the world without leaving their homes!

Notable niche apps

In a recent study, we found that people are using an average of three different apps to keep up with their favorite hobbies. Of course, there are the big social media platforms that everyone uses. But beyond that, there are dozens of apps for specific interests like reading, playing games, and even keeping up with the news. So what does the metaverse have in store for us in 2022? Here are a few notable niche apps that we’re excited about. 

-Bookbub: One thing that most avid readers love is finding new books to read. With Bookbub, you can find discounted books from authors or publishers you might not otherwise be able to find at your local bookstore or library 

-Scribbler: Scribbler lets users create comics and animations on any device without having to know how to draw 

-NewsTap: If you want a personalized selection of articles on any topic – sports, politics, business – NewsTap is the app for you

How to become a part of the Metaverse financially

In order to get involved in the Metaverse, you’ll need to have some skin in the game. The most popular way to do this is through investing in cryptocurrency. There are many different ways to get involved with cryptocurrency, but the most common is through an exchange. You can also mine cryptocurrency or receive it as payment for goods or services. Once you have some cryptocurrency, you can use it to purchase items or services in the Metaverse or trade it on an exchange.

Can Start-up companies work in the Metaverse?

Start-up companies are always looking for the next big thing, and the metaverse provides plenty of opportunities. In fact, many start-ups are already working in the metaverse, developing new platforms and applications. However, not all start-ups will be successful. The key to success in the metaverse is to have a clear understanding of the technology and to be able to provide a unique solution that meets a specific need.

Incubate with Us- Metaworks Holdings

Metaworks Holdings is an incubation company formed to create new, foundationally stable, scalable business units primarily focused on modeling existing, successful, traditional, and/or progressive recurring revenue streams existing within existing and new Metaverse. 

The ultimate goal is for each business unit to raise money independently and provide best-in-class products or services in each of their respective industries. Additionally, all units incubated under Metaworks will be able to get added benefits from the other businesses’ goods or services in our ecosystem. Find out more: metaworksholdings.com.

The Future of Business in the Metaverse

If you’ve never heard of the metaverse, you’re not alone. Even though the metaverse has been around since the 80s, most people have never seen it or even heard of it before, and that will soon change. If you run a business, it’s time to familiarize yourself with this concept as it has far-reaching implications on how we do business today and in the future.

The New Reality

In the not too distant future, businesses will be conducted in a fully immersive, digital world known as the Metaverse. This new reality will present opportunities and challenges for businesses of all sizes. Smaller organizations may experience some competitive disadvantages at first due to the scale and cost of operation necessary to compete in this space. However, with time they will likely find new ways to make up for their smaller budgets by offering innovative services that are tailored specifically to the needs of their customer base. Bigger companies, on the other hand, may find themselves at an advantage because they have greater resources to allocate towards exploring uncharted territory – such as how best to use mixed reality technology like Microsoft’s Hololens or Magic Leap’s Lightwear – when developing cutting-edge applications for these emerging platforms.

What is the Metaverse

The Metaverse is a virtual world that exists on the internet. It is a 3D world that anyone with an internet connection can access. The Metaverse will change the way businesses operate. Small businesses will be able to reach a global audience, and big businesses will be able to create virtual storefronts. The Metaverse will provide new opportunities for marketing and advertising. It will also create new opportunities for customer service and support. A company may choose to have their representative wear a costume from their company and help customers from within the Metaverse. A company may even want their representative’s avatar to match their customer’s avatars, so they feel more connected. Virtual reality headsets will allow people to experience whatever they want without leaving home, meaning people will no longer need to travel as much or wait hours on hold for customer service representatives, who can now interact virtually with customers instead of over the phone or through email. The possibilities are endless when it comes to how small and big businesses use this technology.

Why has it become so important in today’s society

In a world where technology has become an integral part of our lives, it’s no surprise that the way we do business is changing too. The Metaverse is a new online world that is being created, and it has the potential to change everything about how we interact with each other and do business. For small businesses, the Metaverse could provide a level playing field where they can compete with larger businesses on a more equal footing. And for big businesses, the Metaverse could open up new markets and opportunities that didn’t exist before. Whether you’re a small business owner or a corporate executive, it’s important to understand the potential of the Metaverse and how it could impact your business.

Who Will Benefit From This

Small businesses will have a level playing field with big businesses. They’ll be able to compete for customers and employees on a global scale. Big businesses will be able to tap into new markets and reach more customers than ever before. The Metaverse will provide opportunities for businesses of all sizes to grow and succeed. It’s going to change the way we do business forever. With no need for physical presence, companies will finally be able to connect with their consumers from anywhere in the world. Every industry will have an equal opportunity to thrive as the distance is erased. With people at the center of it all, this technology can’t help but make life better for everyone involved.

How We’ll Experience It

The Metaverse will be a totally immersive, 3D online world where we can interact with others as avatars. It’ll be like a cross between a video game and the internet, and it’ll be integrated into all our devices. businesses will have a presence in the Metaverse, and we’ll shop, work, and socialize there. The possibilities are endless, and businesses will need to adapt to survive in this new environment. A business could offer an in-game avatar for customers to interact with and do their shopping within the confines of that particular store (or planet). Call centers? Agents would answer customer service questions on behalf of different companies from all over the galaxy. 

A business might also design an experience for customers by physically building or replicating places or situations that take place within the metaverse. For example, an amusement park might build a ride or attraction on its own property while also creating virtual queues that lead directly into it. Imagine if they then hosted other rides or attractions elsewhere within the metaverse that people could travel to using their VR headset and hand controllers? Even better: what if those rides were owned by other companies who paid them for access rights?

Non-business owners and the Metaverse

In the Metaverse, non-business owners will be able to make money by creating and selling virtual goods and experiences. They will also be able to generate income through advertising and sponsorships. Additionally, they can earn money by providing services such as consulting, coaching, and tutoring. Finally, non-business owners can also make money by investing in virtual real estate and businesses. As we are all aware, people are looking for new opportunities and making some great profits with cryptocurrency trading. It is easy to see how this will work in the future because it is already happening now with Bitcoin and other currencies that have been established within the crypto space. The next step is simply taking these coins into a Virtual World like Second Life or Sansar (which are live-action environments) and exchanging them for items that have value there.

What We Can Do to Prepare Now

1. Familiarize yourself with the technology. If you’re not already comfortable with VR and AR, start exploring now. There are plenty of free resources available online to get you started.

2. Think about how your business could benefit from a virtual presence. What products or services could you offer in a virtual world? How would your business need to change to accommodate a virtual customer base?

3. Start building your team. In order to succeed in the Metaverse, you’ll need a team of experts who are comfortable with the technology and capable of executing your vision.

4. Create or update your website and social media presence to reflect your new virtual reality business 

5. Start experimenting with marketing in VR and AR.

Incubate with Us- Metaworks Holdings

Metaworks Holdings is an incubation company formed to create new, foundationally stable, scalable business units primarily focused on modeling existing, successful, traditional, and/or progressive recurring revenue streams existing within existing and new Metaverse. 

The ultimate goal is for each business unit to raise money independently and provide best-in-class products or services in each of their respective industries. Additionally, all units incubated under Metaworks will be able to get added benefits from the other businesses’ goods or services in our ecosystem. Find out more: metaworksholdings.com.

The Metaverse: What is it and What are its Experiences?

Virtual Reality (VR) headsets are becoming the norm in entertainment, and they’re increasingly being used to explore 3D environments. These 3D environments are called virtual reality, or VR, environments or worlds and collectively these are referred to as the metaverse; that universe in which all VR experiences exist. The metaverse has changed with time, but this hasn’t always been the case. We’ll take a look at what happened and how it affects the metaverse today.

A definition

The Metaverse is a term coined by Neal Stephenson in his science fiction novel Snow Crash. It refers to a virtual reality simulation of the real world, where people can interact with each other and digital objects in a three-dimensional space. In recent years, the Metaverse has become more than just a fictional concept; it is now being developed as a platform for social media, gaming, and other online experiences. The Metaverse experiences can be divided into three categories: social, gaming, and commercial. Social Metaverse experiences include those on Facebook and Twitter. Gaming includes video games such as Pokémon Go, which take place in the form of an augmented reality game (AR). Commercial Metaverse experiences include VR shopping malls and shopping apps that let you browse products from home. 

There are many different types of Metaverse experiences because people have different needs. People who enjoy video games might enjoy a game that takes place in augmented reality (AR), while others may want to shop through VR malls or apps so they don’t have to leave their homes. However, there’s one thing all these experiences have in common: they’re still new enough that we don’t know what they’ll look like or what their potential impact will be on society at large yet.

What will you do in the Metaverse?

A Metaverse is a place where you can do anything you can imagine. You can be anyone you want to be, go anywhere you want to go, and do anything you want to do. The possibilities are endless. And because the metaverse is constantly evolving, there are always new experiences to be had. Whether you’re exploring new virtual worlds, meeting new people, or just hanging out with friends, the metaverse is always a fun place to be. Virtual interactions feel just as natural as real-world ones, making it easier than ever to make connections with other people from all over the world. Plus, when you have something that needs fixing in your virtual space, you don’t need to call an expert; instead, all you need is a handy friend in your social network who knows how to help. So what will YOU do in the metaverse? With such a wide range of possibilities, there’s no limit to what you can experience!

How do you get there?

You can get to the metaverse by creating an avatar, a digital representation of yourself. You can then explore the metaverse through this avatar. The experiences you have in the metaverse will depend on the world you’re in and what you do while you’re there. You can interact with other people’s avatars, as well as computer-generated characters. There are many different worlds to explore, each with its own unique experiences. Some examples of these worlds include Second Life, Eve Online, World of Warcraft, and Habbo Hotel. Some people spend most or all their time in the metaverse.

Why VR makes sense now

The technological advancements in the past few years have been impressive, but they’ve also been slow to take off in terms of widespread consumer adoption. This is where virtual reality comes in. VR has the potential to change the way we interact with the world and each other. It’s an immersive experience that can transport you to another place or time, and it’s something that everyone can enjoy. But what is the metaverse exactly? Is it just a virtual space that looks like our world but without real people in it? Or does it do more than that? There are so many questions about this emerging technology, questions as simple as;  What will happen when I put on a headset? When you put on your headset, your vision and hearing are shut out from the physical world around you. You see 3D objects rendered in stereoscopic high definition, giving your brain enough stimuli to trick it into thinking that you’re seeing reality. In other words, unlike viewing 2D images on a screen, which only stimulates one part of your brain (the visual cortex), virtual reality allows for stimulation of both the visual cortex and the vestibular system. Basically, VR replicates all five senses while still making users feel as if they’re there. 

Why We Should Care

The metaverse is a term used to describe the virtual world that exists online. It’s a place where people can interact with each other and with digital objects in a way that feels real. The metaverse is also a way to escape the reality of our everyday lives. For example, in the metaverse, you can be anyone you want to be. You can fly, you can have superpowers, and you can explore any world you can imagine. The possibilities are endless. And that’s why we should care about the metaverse. We can be whoever we want to be, and we can explore whatever world we want. There are no boundaries to this space. However, there is an unspoken rule that goes along with being in the metaverse – not everyone has access to it. Some do not have internet or technology, while others live in remote areas or poorer countries. Still, others might not know how to use these technologies yet, or they might feel unsafe or insecure using them at all times.

Give the Metaverse a chance

The Metaverse is a new way of experiencing the internet, and it’s something that everyone should try at least once. It’s a three-dimensional, virtual world that you can explore and interact with. And while it may seem like a game at first, the Metaverse is so much more than that. It’s a place where you can be yourself, meet new people, open a business and experience things in a whole new way. So go ahead and give the Metaverse a chance. You might just find that it’s the best thing since sliced bread.

Incubate with Us- Metaworks Holdings

Metaworks Holdings is an incubation company formed to create new, foundationally stable, scalable business units primarily focused on modeling existing, successful, traditional, and/or progressive recurring revenue streams existing within existing and new Metaverse. 

The ultimate goal is for each business unit to raise money independently and provide best-in-class products or services in each of their respective industries. Additionally, all units incubated under Metaworks will be able to get added benefits from the other businesses’ goods or services in our ecosystem. Find out more: metaworksholdings.com.

NFTs Explained: What They Are, How They Work, and Who’s Buying Them

Non-fungible tokens (NFTs) are the newest trend in the blockchain gaming space, and these unique tokens allow for some very interesting use cases that aren’t feasible with ERC-20 tokens or other fungible tokens. First, let’s talk about what NFTs are and why you might want to create them on the blockchain. Then, we’ll go over how NFTs work and how you can start issuing your own in just minutes! And finally, we’ll look at three use cases of NFTs that are particularly interesting in the context of gaming.

The Basics

Non-fungible tokens (NFTs) are digital assets that are unique and cannot be replicated. NFTs are stored on a blockchain, a decentralized ledger that records transactions. NFTs can represent anything from art to in-game items to real estate.

Why would someone want to buy non-fungible tokens (NFTs)?

NFTs are a new way to invest in digital art and other online content. Unlike traditional investments, NFTs can’t be traded or sold on secondary markets. This means that they’re a more risky investment that could potentially pay off big time if the artist or creator behind the NFT becomes successful. So far, NFTs have been popular with investors interested in new and innovative technologies.

Artists

NFTs have been a hot topic in the art world recently, with many artists experimenting with the new technology. NFTs are digital assets that can be bought, sold, or traded like traditional artwork. However, unlike traditional artwork, NFTs are stored on the blockchain, which means they are immutable and can’t be replicated. This makes them unique and valuable. There are a few different ways to create NFTs, but the most common is by using cryptocurrency. Cryptocurrency is used to buy, sell, or trade NFTs because it is secure and anonymous. Who buys NFTs? Collectors, investors, and even some businesses are buying NFTs as a way to invest in the future of art.

Digital Assets

NFTs are digital assets that are unique and cannot be replicated. They’re stored on a blockchain, which is a distributed ledger that records transactions. NFTs can represent anything from a piece of art to a video game item to a tweet. The creator of an NFT can mint it or create it and then sell it or auction it off. The buyer becomes the owner of the NFT and can do whatever they want with it, including reselling it.

Collectors

NFTs are digital assets that are stored on a blockchain. This makes them unique and immutable, which means they can be bought, sold, or traded like traditional collectibles. The difference is that NFTs don’t have a physical form. So who creates them? Anyone with an idea and the ability to code can create an NFT. The most popular platforms for creating and selling NFTs are Ethereum, Wax, and Enjin. As for who buys them? Collectors, of course! The most popular NFTs are rare or have been created by well-known artists.

Gamers

In recent months, a new kind of asset has been taking the gaming world by storm: NFTs. As we stated, NFTs are digital assets that are unique and cannot be replicated. This makes them ideal for games and other digital platforms where ownership and provenance matter. Creators can set specific conditions on how they can be traded, and gamers have the chance to get their hands on rare items without worrying about duplication. 

The success of NFTs has led to some big names getting involved in the space. Overstock announced it will create its own platform for trading these digital assets. Meanwhile, Ubisoft recently revealed it’ll partner with Animoca Brands to bring crypto collectibles based on popular titles like Assassin’s Creed Odyssey. It seems that this is only the beginning!

Consumers & Brands

In the past year, we’ve seen a surge in the popularity of NFTs (non-fungible tokens). These digital assets are unique and cannot be replicated, making them valuable commodities in the digital world. So what are NFTs? How do they work? And who’s buying them? This new type of cryptocurrency is becoming increasingly popular with consumers and brands. Brands like Nike have started using this medium to create limited-edition products that can only be obtained by completing specific tasks or achievements – which has led to many people purchasing these items at inflated prices on secondary markets like eBay. With the current $500 billion video game industry fueled by an economy that revolves around collectibles and tradable items, it should come as no surprise that NFTs are a big hit for gamers too.

Investors

NFTs are a new way to invest in digital art and other online content. By becoming an investor with NFTs, you can help support the artists who create the content you love while also earning a return on your investment. NFTs are stored on the blockchain, a secure and decentralized way of keeping track of transactions. When you invest in an NFT, you are purchasing a piece of digital art or content that is stored on the blockchain. The artist or creator of the NFT receives a percentage of each sale, and the investor receives the remainder. NFT’s can be resold at any time, so investors can earn a profit when they sell their NFTs for more than they paid for them.

Will you get rich with NFTs

While there’s no guarantee you’ll get rich quickly by investing in NFTs, there’s potential for profit. NFTs are still a relatively new concept, which means there’s a lot of hype and speculation surrounding them. As the market matures, we expect the prices of NFTs to stabilize. For now, if you’re thinking about investing in NFTs, do your research and tread carefully.

Incubate with Us- Metaworks Holdings

Metaworks Holdings is an incubation company formed to create new, foundationally stable, scalable business units primarily focused on modeling existing, successful, traditional, and/or progressive recurring revenue streams existing within existing and new Metaverse. 

The ultimate goal is for each business unit to raise money independently and provide best-in-class products or services in each of their respective industries. Additionally, all units incubated under Metaworks will be able to get added benefits from the other businesses’ goods or services in our ecosystem. Find out more: metaworksholdings.com.

Top Earning Games on Roblox 

Roblox is a Roblox Corporation-developed online game platform and game development system that allows users to design games and play games produced by other players. The platform, built by David Baszucki and Erik Cassel in 2004 and published in 2006, supports user-generated games of many genres coded in the Lua programming language.

Roblox is a free-to-play (F2P) online gaming platform that allows users to create gaming content and immerse themselves in other virtual worlds. The platform, which was first published for PC in 2006, is now also available for mobile devices and Xbox One and attracts millions of gamers every day from around the world.

Roblox’s proprietary engine, Roblox Studio, allows users to design their games, which other Roblox users can then play. Games are created using an object-oriented programming system that uses a dialect of the computer language Lua to manage the game’s environment.

Users can create downloadable content through one-time purchases (known as “game passes”) and microtransactions (known as “developer products” or “products”) that can be purchased several times. Minors create the bulk of games made with Roblox Studio, with almost 20 million games created each year.

Roblox is a free game with in-game purchases accessible in the form of Robux, a virtual currency. It is the ultimate virtual environment where you can create, share your experiences with friends, and be anybody or whatever you choose. It’s a global platform that uses games to bring people together.

How Do Roblox Creators or Developers Get Paid?

Roblox gives over 28 cents per dollar spent on average to creators and developers. When you’re building in Roblox, keep these things in mind:

You only have to pay after you’ve made money on Roblox. You may have to pay for storage, hosting, and infrastructure on other platforms before earning any money (or even start building). Developers on Roblox face minimal risk because they are only taxed once they monetize, as evidenced by the developer share numbers in the Cash Payout Structure. After all, costs associated with creating, storing, testing, and maintaining an experience have been paid, it leaves expected take-home pay.

Growing an experience on Roblox is much less expensive than doing so off-platform. Also, there are no substantial costs associated with acquiring new users. Organic channels, network impact, and cost-effective on-platform ads are available to developers.

Top Ten Earning Games on Roblox

Adopt Me!

Uplift Games’ Adopt Me! is a massively multiplayer online game developed for the Roblox gaming and game development platform. The game’s original focus was a roleplaying game in which players claimed to be either a parent adopting a child or a child being adopted. Still, as the game evolved, the focus switched to adopting and caring for various virtual pets that can be traded with other players.

Adopt Me! is a Roblox game where players can adopt different types of pets to raise and care for. Players can pick whether they want to be a child or an adult, and they can also hatch pets from eggs or trade them with other players.

These virtual pets can be shared, uncommon, rare, ultra-rare, or legendary, and they can be grown through many phases before becoming neon pets.

According to Statista, Adopt Me! has been played over 27 billion times. It has nearly 5 million likes, 28 billion visits, and 24 million favorites as of May 2022. The game’s designers employ around 40 people and earn around $50 million each year, largely from microtransactions.

Tower of Hell

PyxlDev and ObrenTune of YXCeptional Studios produced Tower of Hell, a round-based hobby game. The game’s purpose is to climb to the summit of a randomly generated tower that resets every eight minutes. The timing is sped up when a player completes a tower before the timer refreshes.

The game is based on ObrenTune’s previous game Kiddie’s Towers of Hell, which was later renamed Obren’s Inferno: Reborn

It was an obby game similar to Tower of Hell in which players must complete numerous distinct towers with no checkpoints.

Because of the connotation of hell as a swear word, the game is sometimes referred to as Tower of Hecc by younger players and kid-friendly YouTubers. Other players, however, consider the game to be less vulgar.

According to Statistia, it has over 3 million likes, 17 billion visits, and 9 million favorites as of May 2022.

Brookhaven RP

Brookhaven RP, also known as Brookhaven, is an online roleplaying game where participants can interact with one another. The game was recognized as a notable example of the roleplaying genre, including other well-known Roblox games. At one point, the game had around 800,000 concurrent players.

Brookhaven is well-known for its straightforward gameplay. It has no in-game currency and additional items and features that can only be purchased with Robux. The player can choose from a range of dwellings and cars in Brookhaven. The majority of in-game products, residences, and vehicles are free and available to players when they join the game.

According to Statista, the game has over 2 million likes, 16 billion visits, and 13 million favorites as of May 2022.

MeepCity

MeepCity is a multiplayer online roleplaying game combining Club Penguin and Toontown Online-like features. Alex Bidello, the game’s designer, revealed in 2018 that he was making enough money from the game to support his mother and brother. MeepCity has customizable pets called “Meeps” in addition to its roleplaying quantities.

Bidello is known for his development methods, including playing the game on many accounts to see how new players react. MeepCity was the first Roblox game to reach 1 billion visits.

The game’s main objective is to serve as a social or roleplaying hangout. This means that purchasing products or participating in games is entirely voluntary. Coins are a type of currency. Coins can be used to personalize your home (such as the colors, construction, and furniture), purchase and customize a pet Meep, and purchase fishing rods.

According to Statista, the game has over 2 million likes, 13 billion visits, and 14 million favorites as of May 2022.

Piggy

Piggy is an episodic horror game set in a zombie apocalypse that combines aspects of Peppa Pig with the indie horror game Granny. The game’s episodic storytelling structure resulted in a sizable fanbase forming before the game’s conclusion on May 25, 2020. A developer named MiniToon released Piggy to the site in January 2020, and it has since been played nearly 5 billion times.

You can choose from various 12 levels and game modes in Roblox Piggy, all of which revolve around fighting for your life against a family of homicidal pigs.

According to Statista, the game has over 2 million likes, 10 billion visits, and 10 million favorites as of May 2022.

Murder Mystery 2

Murder Mystery 2 is a game in which participants are given roles for each round at random. One player is chosen as a killer, and they must kill everyone to win. Another player is selected as a sheriff, and they must kill the murderer to win; the remaining players are chosen as innocents, and their purpose is to survive. Critics have commended the game’s level design.

There are 12 players in the horror game, one murderer, one sheriff, and ten innocents. Innocents cannot harm other players because they are defenseless and unarmed. Their purpose is to assist the sheriff in determining who the criminal is through witnessing murders. If a killed sheriff’s firearm is dropped, an unwitting bystander might pick it up and become the “hero” if they shoot the perpetrator.

According to Statista, the game has over 5 million likes, 8 billion visits, and 14 million favorites as of May 2022.

Royale High

Callmehbob’s Royale High, previously known as Fairies and Mermaids Winx High School, is a massively multiplayer online roleplaying game. The game is situated in a mythical realm and follows students as they dress up as royalty and exotic creatures in a fantasy school. Royale High, which was launched in 2017, had over 3.5 billion cumulative visitors as of July 2020, with thousands of concurrent players regularly, making it one of the most popular games on the site.

Players are encouraged to dress up, roleplay, interact with other players, and accomplish numerous gameplay activities to level up and earn additional diamonds, which may be used to buy new things.

Statista says the game has over 2 million likes, 7 billion visits, and over 12 million favorites as of May 2022.

Welcome to Bloxburg

Coeptus’ Welcome to Bloxburg is a life-simulation and roleplaying Roblox experience. The experience includes a simulation of one virtual player’s daily activities in a home near a fictional city. The game’s design is inspired by Maxis and Electronic Arts’ The Sims game series, notably The Sims 3 and 4.

Welcome to Bloxburg was used as a demonstration tool to teach children about homebuilding at a summer program called the Junior Builder Camp.

According to Statista, the game has over 4 million likes, 5 billion visits, and 11 million favorites as of May 2022.

Jailbreak

Jailbreak is a cops and robbers game played over 5 billion times in March 2022. It is one of the most popular games on the site, with tens of thousands of concurrent players every day. Jailbreak was designed and developed as a more fleshed-out version of an earlier Roblox game called Prison Life and was released in April 2017. During its first year of business, it generated over $1 million in revenue.

Jailbreak was featured in Roblox’s Ready Player One event, which commemorated the film’s debut.

Statista says the game has over 4 million likes, 5 billion visits, and over 17 million favorites as of May 2022.

Blox Fruits

Blox Fruits is a surprisingly sophisticated battle game that combines all of the aspects of Roblox that players enjoy — community, grinding, and exploration — into one game. It maintains a consistent player base of roughly 100,000 people for a reason. The game’s goal is to level up your character, whether you use a sword or a Blox Fruit.

According to Statista, the game has over a million likes, 5 billion visits, and 3 million favorites as of May 2022.

 Here are the five highest-earning games on Roblox in the last thirty days.

Blox Fruits

Consuming a Blox Fruit provides you with many strange and fantastic properties, depending on the sort of fruit you eat and is inspired by Devil Fruit from the One Piece anime. The game has over a million likes, 5 billion visits, and over 3 million favourites.

Pet Simulator X

Pet Simulator X is all about amassing a zoo of gorgeous creatures and taking them on adventures worldwide, collecting currency and adding to your collection. The game has over two million likes, 4 billion visits, and 4 million favourites.

All-Star Tower Defence

The primary story mode of All-Star Tower Defence sends you on a journey to protect a series of well-known anime landmarks; as you pass each level, you receive rewards that allow you to upgrade your towers.

The game has over a million likes, 3 billion visits, and over 1 million favourites.

Work at a Pizza Place

Work at a Pizza Place is a cooperative game where players fulfil orders at a pizza parlour. The game has over 2 million likes, 3 billion visits, and over 11 million favourites.

Natural Disaster Survival

Natural Disaster Survival has a solid resemblance to PlayerUnknown’s Battlegrounds. The game has over 2 million likes, 1.9 billion visits, and over 8 million favourites. Prepare to urgently huddle for dear life in any shelter you can find against the weather.

Is the NFT Bubble Bursting?

In March 2021, An Iranian-born crypto entrepreneur, Sina Estavi, paid $2.9 million for an NFT of Twitter founder Jack Dorsey’s first tweet. On April 6, 2022, Estavi listed the NFT on the OpenSea marketplace, expecting to raise $48 million and promising to give half of the earnings to charity. The highest offer the tweet has amassed is $6,823.54 as of April 14.

On the other hand, the Bored Ape Yacht Club, a collection of 10,000 NFTs of distinct apes that represent early NFT adopters, have continued to enjoy robust market participation. 

NFT detractors seized on the former news as fresh proof that the NFT bubble is bursting. But what is the actual state of the NFT market? Was Dorsey’s tweet worth $2.9 million in the first place? What is the future of NFTs?

Skeptics of non-fungible tokens have warned that the excitement, if not bubble, surrounding NFTs is unsustainable. There is now increasing evidence that they may be correct. 

Mike “Beeple” Winklemann famously sold a collage of his digital art at Christie’s auction house for $69.3 million in February 2021, igniting a historical development period in the NFT sector. According to statistics from Market Tracker, total global NFT sales averaged roughly 2,000 per day at the start of 2021. However, during the pinnacle of the market in August 2021, over 200,000 NFTs were sold every day, with the total value of transactions temporarily exceeding $400 million. Since then, the NFT market has cooled significantly.

According to nonfungible.com’s Market Tracker, the overall number of daily NFT sales has usually been within a 10,000-30,000 range, with occasional increase. Meanwhile, except for the rare rise beyond $100 million, the total amount of daily sales has typically stayed in the tens of millions of dollars.

Total NFT sales in March were valued at $2.435 billion, the lowest since July 2021, according to CryptoSlam statistics, while 661,748 persons acquired NTFs that same month, the lowest number since September 2021.

It’s almost impossible to not fear that NFTs are on the brink of a divergence. Divergence occurs when a commodity increases in price or enjoys a parabolic price increase before reversing. If the NFT market has peaked, it’s only natural for the market to correct such extreme price valuation caused by excessive demand. 

The multimillion-dollar fraud that occurred a few days ago in the NFT video game metaverse, Axie Infinity, is perhaps one of the most visible symptoms of the NFT market’s impending collapse. For those unfamiliar, Axie Infinity is the most popular NFT–based play-to-earn video game.

The Axie breach remains the greatest heist in the history of Decentralized Finance. On March 23, the technology’s lack of security got exposed when the North Korean backed group, Lazarus, stole more than 620 million dollars in ether, the cryptocurrency on which the game is built, using a single computer.

With the Axie breach, one’s tokens, once worth hundreds of dollars, are now almost useless. The issue isn’t that the hacker stole these millions; the users have no method of getting their money back, and no one, not even Sky Mavis, would be held thoroughly responsible for the unfortunate event. Given that the great majority of Axie’s community are people from developing nations who relied on gambling for a living, their money has vanished. 

Although the game’s operator, Sky Mavis, has gathered 152 million dollars to compensate its players, this money originates from outside investors, and the stolen 600 million is unlikely to be recovered.

What is the Cause of NFTs Cooling?

The drop appears to result from several factors, including inflation, the war in Ukraine, and the Securities and Exchange Commission’s increased regulatory scrutiny of NFTs.

Many people, not just skeptics, have predicted the downfall of the NFT. Because of how adaptable and accessible NFTs are, even ardent digital art collectors have warned that a “cataclysmic market crash” might be on the horizon as the area gets oversaturated. While there are innumerable art enthusiasts, the number of minted artworks on NFT platforms grow astronomically. Today, everyone and their grandparents are digital artists looking to make a fortune from artwork.

Despite the present slowdown, that catastrophic transformation has not occurred. Since the start of the year, top NFT collections have performed better than Bitcoin and other cryptocurrencies.

What’s the point of NFTs?

Excitement and conjecture have been high, as they have been with every new and exotic investment possibility. It also doesn’t help matters that NFTs have infiltrated the worlds of music, entertainment, and sports. Reese Witherspoon, Stephen Curry, Snoop Dogg, and Eminem are just a few of the A-list celebrities who have lent their support to NFT projects.

However, where the money goes, bad actors follow, and no marketplace has ever been more hospitable and accommodating to criminal activity than this one. Given the fundamentals of scarcity, exclusivity, and sky-high price increases, it’s easy to see why. People are desperate to join in a lucrative initiative, and fraudsters take advantage of this desire.

A rug pull is the most popular scam right now. A rug pull occurs when the NFT project’s creators or developers gather funds from participants to start and mint a new collection. Many publicity and hype frequently follow them, but the developer never follows through on their claims. Instead, they abandon the project, grab the money, and flee, causing the NFTs’ value to plummet.

So far, the most high-profile fraud has been the Frosties rug pull, in which the company’s 8,888 NFTs lost nearly all of their value overnight. Users discovered that the project’s website, Discord channel, and Twitter account were gone and that the founders had withdrawn the cash. According to the Financial Post, rug pulls brought in $2.8 billion in crypto tokens in 2021, with no indications of stopping in 2022.

The Doodle Dragons rug pull is smaller, but it is still worth mentioning. Until the developer’s last-minute change of heart, this was an NFT project where all earnings were scheduled to be donated to the World Wildlife Fund, WWF, and other endangered species charities.

Policing the Bad Players in NFT

So far, there has been little done to police activities of fraudsters in the NFT marketplace. This issue touches on two fundamental characteristics of cryptography as a whole.

The first is that there is no supervision. Decentralization implies no police, no overarching authority figure, and no laws and regulations guiding the dos and don’ts. This isn’t to suggest that no crime goes unpunished, but in a world where technology is so far beyond regulators’ grasp and knowledge, you’ll have to make some pretty significant headlines to get noticed. The Financial Conduct Authority’s top executive has stated that victims of cryptocurrency scams should not expect the government to pay them after losing their funds. Out here, it’s the Wild West, complete with a Gold Rush to match.

The second point is that crypto is a two-tiered society. While some are idealists, such as Vitalik Buteren, one of Ethereum’s co-founders and a vocal proponent of a decentralized financial system, others fall into the category of Crypto Whales, people with enough cryptocurrency to manipulate the value of currencies through their transactions. And if they are the whales, newcomers who arrived in recent years are the krill. It should be noted that early bitcoin adopters have experienced unprecedented wealth growth over the last decade.

Vignesh Sundaresan, AKA MetaKovan, is a Y-combinator alum and the founder of the Metapurse NFT project, which describes itself as a “crypto-exclusive fund that specializes in identifying early-stage projects across Blockchain infrastructure, finance, art, unique collectibles, and virtual real estate,” is one of the NFT early adopters, and like other early adopters, MetaKovan has made a fortune from NFTs. But unlike early adopters, the everyday user sees NFTs as an opportunity, a means to a better life. Millions of people flock in everyday, hoping that their art gets noticed, but only line up the pockets of NFT exchanges who charge sizable mint and service fees for hosting users’ NFTs.  

With supporters ranging from Tom Brady to Justin Bieber, the sale propelled NFTs into the mainstream, making them fashionable and — ostensibly — safe. These early adopters have enlarged and legitimized their company by bringing in the ordinary investor, while the newbies have been given to the wolves.

NFTs Also Exist in Market Cycles

Like every commodity, the NFT market works in cycle. A market cycle typically has four phases, the accumulation phase, mark-up phase, distribution phase, and mark-down phase. The accumulation phase occurs when the early adopters invest in NFTs, buying and creating pieces in Blockchain networks for almost nothing. Today, the early investors are enjoying unnatural ROIs. 

There is a possibility that the NFT market is in the distribution phase. Public interest in NFTs are still very high and the market seems to have people buying into the vision; however, if prices of NFTs have reached the peak, a downtrend is expected. 

NFTs Future Investment Potential

NFTs have the potential to be helpful for a variety of reasons once the industry matures. However, just because you spent a million dollars on a certificate stating that you are the owner of a pixelated cartoon monkey does not imply it will be worth two million dollars in a year! Many wealthy and powerful businesses invest heavily in making the metaverse a financially feasible reality. With time, NFTs’ greatest promise resides in their capacity to establish uniqueness inside these impending digital ecosystems.

Because of the astronomical price rises we’ve witnessed in the NFT world – which have surpassed those of Bitcoin and other major cryptocurrencies – it’s far from impossible that the market will undergo a correction. On the other hand, Corrections aren’t always a bad thing in the long run because eliminating some of the hot air suffocating the market means a stronger focus on the more rational and practical uses of this potentially transformational technology.

Reference

https://www.theguardian.com/technology/2022/apr/14/twitter-nft-jack-dorsey-sina-estavi#:~:text=Crypto%20entrepreneur%20Sina%20Estavi%20made,boss%20Jack%20Dorsey’s%20first%20tweet.

https://www.wsj.com/articles/bored-ape-nfts-so-expensive-11645709606#:~:text=A%20major%20appeal%20of%20Bored,comic%20books%20and%20Pok%C3%A9mon%20cards.

https://www.cnbctv18.com/cryptocurrency/explained-what-are-social-tokens-and-how-are-they-different-from-nfts-11900102.htm

https://www.aljazeera.com/news/2022/4/15/north-korea-hackers-accused-of-axie-infinity-crypto-heist#:~:text=North%20Korea’s%20hacking%20programme%20dates,to%20employ%20some%206%2C000%20people.

https://www.protocol.com/fintech/frosties-nft-rug-pull

https://www.theartnewspaper.com/2021/03/12/revealed-metakovan-pseudonymous-founder-of-crypto-exclusive-fund-metapurse-is-the-buyer-of-beeples-dollar693m-nft

https://www.investopedia.com/terms/m/market_cycles.asp#:~:text=The%20four%20stages%20of%20a,and%20downtrend%20or%20markdown%20phases.

AXIE Infinity and How Play to Earn Is Lifting the World out of Poverty – by Producing First World Income in the 3rd World Through a Phone

Axie Infinity presents an endless capacity for people to earn through NFT and Blockchain-powered games. The popularity of the game, which can be played on mobile and desktop, is often connected to the financial wrecks the Global Pandemic left in its wake. Today, many Venezuelans, Filipinos, Brazilians, Vietnamese, and many people from other South American and Asian communities, play the Pokemon-styled video game with hopes to earn a sustainable living by trading the game’s token SLP in crypto marketplaces.

The adoption by third world countries is expected; even though Axie Infinity is a metaverse—NFT—Blockchain-based video game, the bottom line is that people from third world countries have a chance to earn monetary rewards. The game’s mass adoption leverages three principles:

1.    A player does not need a high-powered computer or a graphics card to play. Many players even play on their phones.

2.    Players can earn monies that can be spent in the real world from playing.

3.    Axie Infinity has a large community, and there is constant support for players to buy their Axies. Community supports exist in Discord and Telegram groups, where investors loan Axies to players for a percentage of whatever the players earn.

Playing the Game: Scholarships

Axie Infinity’s ease of entry and simplicity of gameplay has attracted many users, with the developers, Vietnam-based company Sky Mavis, announcing over 2.8 million daily players on the game’s website. While players in droves can be seen in a picture on the French news website, Fan24, playing the game on their mobile phones, its entry fee is monumental.

To play, a player must purchase a set of three Axies. An Axie in today’s market costs anywhere from $250 to $500 – for the Axies with low genetic pools. A player who wants a better Axie can pay $1,000 to $3,000. Yet, some Axies run into hundreds of thousands of dollars, with the highest Axie sold for $820,000.

The price of three Axies climb to over a thousand US dollars—a steep amount for some players in the United States, let alone players in countries like Venezuela. To solve the problem, many companies within and outside Venezuela loan Axies to players for a cut in the players’ earnings. The sharing formula is entirely dependent on the lending company.

Most companies or individuals that loan Axies and train players often have a long waiting list of people ready to join the ecosystem and make money. Black Esports, a Venezuelan-based startup, takes 30% to 40% of players’ earnings for each Axie loaned to players. The company selects players through a scholarship system.

Binance, through its Twitter Binance Spanish account, announced on September 6, 2021, that it would give Axie users scholarships— in a bid to enhance gameplay and NFT adoption in developing countries. The crypto exchange does not plan to collect a dime for its scholarship—which is what an actual scholarship structure should implement.

Axie Infinity has become a secondary and even primary source of income for many people in South American countries, especially Venezuela and the Philippines. The Philippines are the largest adopters of Axie Infinity, followed by Venezuela, the United States, and Indonesia, CoinDesk reports.

The ability to earn even a few hundred dollars every month from playing two hours per day of an NFT game on a mobile phone is an appealing proposition for people from developing countries. Take Venezuela, a country whose currency has suffered dire inflation parallel with the severe economic downturn; people have to work inhumane shifts to earn little. A United States dollar is worth 443,152.82 Venezuelan Boliver. How can a person in such a country afford a thousand dollars for an Axie? — thankfully, the scholarships are there to help. On the bright side, earning $150 to $300 every month is mouth-watering for some people.

Axie Infinity Gameplay

Axies are fierce pets in the Axie Infinity metaverse that can battle, treasure hunt, and build kingdoms. The decentralized Blockchain model allows players to own a part of the game. Earning potentials with the Axie Infinity world includes:

PvP

In the PvP battles, the Axies are pitted against one another to battle for superiority. Be wary. Your Axie’s genetics will determine its capacity to battle and win other Axies or the Chimera.

Adventure

Ignite your adventurous spirit by battling the enemy, Chimera. Do not be swayed; you get rare treasures like Small Love Potions, SLP—one of Axie Infinity’s tokens for every battle you win. You can always cash in on your SLP tokens, use them for in-game purchases, or sell them on crypto exchanges.

Arena Battle

Show your skill, strength, and cunning by battling in open tournaments. Earn real money prizes for real-world use when you advance in tournaments.

Breeding

Match two-parent Axies to give an offspring Axie with the combined genetic makeup of the breeding parents. You can make as many Axie babies as you wish—as long as you have enough Small Love Potions for breeding.

Axie Lands

In the Axie Infinity metaverse, players can become land barons, buy land, farm for unique resources and tokens, and attack dungeons. The least priced land in the Axie Infinity metaverse is $11,752. Land parcels are tokenized, and each plot of land—also known as Lunacia, comprises an 8 by 8 grid. Players can put their Axies and other items on their lands and fight off Chimeras. For most players in third-world countries, owning a Lunacia is almost out of reach.

Axie Infinity Coin

Axie Infinity has two native tokens, the Axie Infinity Shards, AXS, and Small Love Potion, SLP, which are the in-game rewards players earn from playing the game.

Axie Infinity is decentralized finance, and AXS, its governance token, is traded on exchanges like Coinbase. As a governance token, AXS holders have a say in the game’s direction. As of writing, an AXS is $46.46.

As of writing, one SLP, Small Love Potion, is $0.01674—around 1.6 cents. With the current value of an SLP, a player that wants to earn $200 in a month must make 11,947 SLPs.

The Ease of Making Money in Axie Infinity

Axie Infinity is decentralized finance and a game. The tokens, especially the SLP, are structured as rewards to dedicated players; however, earning a sustainable income from playing the game is not feasible, especially for players from developed countries like the United States.

However, players from countries like Venezuela and the Philippines may be able to live off the income from Axie Infinity. For example, the Venezuelan minimum wage is only $28—a far cry from the minimum wages of many other South American countries. The average Axie Infinity player can earn $150 to $250 per month, depending on the number of staked Axies. Wins in adventure mode can make a player 2 to 20 SLPs, and Arena mode wins reward 2 to 18 SLPs. Players who understand the game can easily win more battles, earn more SLP and sell on DEXs like Uniswap.

Concerns about Axie Infinity

In late March, DeFiYield REKT, through its database resource, announced that Axie Blockchain had been compromised and more than $600 million were stolen by hackers.

The US Treasury Department revealed that Lazarus, a North Korean-backed group responsible for some major hacks in the United States and Europe, was behind the hack. If the company’s traded volume in its in-house marketplace is over $3.6 billion, a $600 million hole raises concerns.

The hack is recent; however, many financial analysts have raised concerns about Axie’s business model, calling it a hype train that will end disastrously for investors and players.

According to Will Gottsegen, a CoinDesk media reporter, the problem with the Axie network is that the game isn’t built on the secure Ethereum Blockchain. ‘Axie Infinity uses a custom-built sidechain called Ronin – essentially an Ethereum spin-off meant to reduce the congestion on the main chain,’ Gottsegen explains. To play the game, you have to port your cryptocurrency from the main chain to Ronin through the bridge—a unique program popular with NFT games like Axie and Defi Kingdoms.

Blockchain structures are almost foolproof, but moving funds from one chain to another through the bridge leaves security loopholes. Sky Mavis’ reaction to the hack was unimpressive, as the company did not even know about the security bridge until after six days—or maybe they knew and decided to take their time on an official announcement.

The hack revealed the dangers of play-to-earn games: you can lose everything in an instant. And it’s not just the hack. A new NFT game in the market can become the latest trend and Axie players may migrate. As of writing, players cannot withdraw their earnings from the game, although Sky Mavis claims it plans to pay players what they lost.

Another concern with Axie Infinity is the play-to-earn model: When a play-to-earn game is launched, players are mostly interested in one thing, money. When everyone tries to take from a marketplace, its existence will depend on more people joining the marketplace, making the NFT market place look like a multi-level marketing structure. Sky Mavis countered this concern in its whitepaper, claiming that with many in-game valuables like land, updates to game stages, and community interactions, many players remain on Axie because the metaverse is fun. The company is believable because Axie is the most played NFT game, and the United States ranks third on the list of countries with the most Axie players.

In the absence of real-life and valuable utilities, the Axie world is controlled by demand and supply. A strict demand-supply-based market can suffer epileptic price movements stemming from consumer behavior. The pattern is seen in the value of the SLP: On April 26, 2021, the price of an SLP skyrocketed from 3.5 cents to 36.5 cents. In 2022, the price plunged to around a cent but stabilized at 1.6 cents. Such price movements can bankrupt investors. Sky Mavis, in response to protecting the value of the SLP and AXS took some measures:

– Reduced in-game rewards

– Establishment of a community treasury. The treasury takes 4.5% of all marketplace transactions.

– Advertisements and offline events, with all proceeds going back to the game and the players.

The Axie Infinity community is robust, with discord groups, telegram groups, and the support of the largest crypto exchange. The in-game rewards are enough to draw in players from developing countries, but the rewards are also often minuscule. An SLP is worth around 1.6 cents—and might face a near-future dip because many investors might dump the crypto once they have access to their funds. In-game tasks give players anywhere from 2 to 20 SLPs. Earning substantial money, like $200 a month, will require skilled gameplay and time.

Ultimately, unless you play Axie Infinity for the love of the game or as a side hustle, the economy might not be sustainable. For people in developing countries like Venezuela, the game remains a potent job source for the many people whose governments have made life unlivable.  

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