The Metaverse, also called the Web3 gaming metaverse, is a network that enables an interconnected virtual 3-D space to exist and be shared. There’s no Internet required; you only need access to the open source software in order to log into others’ servers. The Metaverse operates with three core concepts: identity, state, and value.
A new decentralized technology has come along that’s going to change the world of video gaming forever and this article talks about it using interviews with various people in the industry.
With all the hype surrounding Blockchain and how it will revolutionize everything from financial transactions to medical records, you may have missed that gaming has jumped on the crypto craze too. We’re not talking about playing games with Ethereum like Crypto Kitties or breeding digital dogs in Decentraland – we’re talking serious gaming here.
The Metaverse is a decentralized platform that was created for video games as well as other digital platforms, and it’s about to change the way people play online video games. It’s going to fundamentally disrupt the industry.
Broadly speaking, the Metaverse’s mission is to connect people from all over the world regardless of their geographical location or time zones through a network of powerful servers called “nodes,” similar to how email works. You’ll be able to see people playing games and interact with them. You’ll also be able to chat with the developers of those video games from within the platform.
In the past, you were only able to do this within a limited geographical region; now, you can play anywhere in the world. The metaverse means that there’s no need for hardware or software to be installed on your computer or smartphone as long as you have an internet connection and can connect to at least one node.
You’ll be able to create your own 3-D avatar and customize it to look exactly as you want. You’ll also be able to buy or sell virtual items – for example, you could sell a specific kind of sword for another player because you no longer have it in your inventory.
You can earn cryptocurrency from playing games as well, but there’s a catch: all games will need to use the Metaverse’s own cryptocurrency. Developers who decide to use the Metaverse protocol will earn from players and can then use these tokens to play other games in the Metaverse blockchain gaming platform.
The Metaverse project is one of the largest in the crypto world and is backed by one of the most influential investors in China: Eric Gu, co-founder of ViewFin, a Chinese public listed company that invests in blockchain technology.
“Eric Gu is a pioneer in the Chinese crypto community,” said one of the founders of the Metaverse, who asked to remain anonymous. “He has a leading role in the ICO industry and has worked on many projects together with us. He has been investing in blockchain games since 2013.”
In 2014, Eric Gu was among the first investors in CryptoKitties, raising funds for that game because he wanted to help creators launch their own projects and actually make money from them.
“The Metaverse is using the latest 3D virtual avatar engine, which means it is a lot more realistic than other players in the market. We want to integrate with virtual reality and create a more immersive environment. Our ultimate goal is to create a Pokemon Go-style game, except that you can buy and sell items in our platform and make money from it. You can use your tokens to purchase weapons, armor or other items that you need in-game,” the Metaverse team leader said.
The Metaverse is currently being tested by a very small group of developers and will only be available to them for a limited time.
