The increasing importance of the metaverse and its P2E model
The term "metaverse" refers to a permanent, online, 3D virtual environment that incorporates a variety of features and virtual locations. It is seen as a new kind of the internet. To put it another way, it is a location where we may socialize, shop, earn, play, and do almost anything we do in our daily lives.
It is not just a temporary trend. Large companies like Facebook, Microsoft, Nike, Samsung and Lg show serious interest to integrate their services in the world of metaverse. Facebook, the world's most popular social networking platform, has rebranded as Meta and is trying to provide a platform for artists to build virtual online companies, connect online experiences with the physical world, and launch its virtual reality hardware company, Reality Labs. Microsoft CEO Satya Nadella announced the company's metaverse plans for Teams and Xbox gaming console services. According to her the next step is bringing real presence into digital space. Nike had submitted applications for trademarks of its iconic logo and slogan for use in “online virtual worlds.” The firm has also posted two recent job listings for virtual material designers.
In the cryptocurrency world this is already happening and it is normally known as Play to Earn model (P2E). It proved to be a success because users are not just playing games for fun but are conducting several activities that make the digital time productive and useful. So its not only entertainment but financial value as well. It is also possible to socialize with other users, play with other users, and work with other users - creating a digital economy of services that results in new job opportunities. People can be compensated to develop virtual world content, such as architects and game designers. There are also opportunities to interact with other users in those worlds as community managers and host performers. Individuals can attend virtual performances, concerts, art galleries, and museums. Playing for eight hours a day could result in a pay raise and a new career. Because the metaverse is decentralized, playing games is essentially a job. It is beneficial to the game, as it adds value and success. The Sandbox blockchain game has raised 93 million $ in a funding round led by Softbank vision fund 2. Lg technology ventures and Samsung are also among them..
Although the best P2E gaming titles belong to Axie Infinity, Splinterlands, Alien Worlds and Cryptomines etc. the largest crypto based ecosystems such as Binance, Avalanche, Matic etc. have been actively focused on creating new blockchain based gaming with great examples such as Maticverse and Crabada.
Maticverse is a digital NFT Universe based on superheroes, where players can deploy their magnificent superhero themed NFTs in a variety of activities. The Maticverse Universe uses Play 2 Earn games to illustrate the benefits of blockchain technology and the way to financial freedom through passive revenue.
Crabada is an engaging play-and-earn NFT game set in an universe populated by Crabada, a strong fighting Hermit-Crab (the NFTs). Mining, looting, breeding, dueling, exploring, crafting, and other activities will allow players to rediscover the affluent ancient Kingdom of Crabada and win prizes.
It can be concluded that the year of 2021 has been really transformational and there has been a large amount of investments from largest corporations worldwide. In 3,5 to 10 years it will be totally generational and life changing. Kids are already buying digital assets and prefer that over physical goods because it is more practical to value it, store and sell it when they want as well as creating own companies in metaverse platforms such as The Sandbox or Decentraland.