Imagine a world where you can exist as a digital representation of yourself or an ‘Avatar’? Envision being able to see, and do things within this world, that you can refrain from doing in the real life?
And, think of doing all of these things from the convenience of your living room?
Welcome to the METAVERSE – – alternative digital truths where individuals can work, play, trade, and mingle.
It’s coming and the possibilities are in a word, ENDLESS.
Wikipedia specifies ‘the Metaverse’ as “a collective virtual shared area, created by the merging of practically improved physical reality and physically consistent virtual area, including the sum of all virtual worlds, augmented reality, and the Internet.”
Although a challenge to describe, there is no scarcity of interest in the METAVERSE.
In the news today, Facebook likewise rebranded the whole company to META, offering us an idea of just how big the METAVERSE will become. With all of these advancements happening, let’s take a closer check out 3 of the GameFi and META games occurring as the METAVERSE begins to grow.
The Sandbox is a virtual gaming world, where players are able to develop, build, trade, own, and monetise their video gaming within the Ethereum Blockchain. The objective is to supply players with real ownership of in-game products as NFTs (non-fungible tokens) and reward them for their playtime and participation within the video games ecosystem – – contrary to existing game makers like Minecraft and Roblox.
$SAND is the currency of THE SANDBOX and is used for all deals. It permits users access to the platform, enables them to play games, stake (if wanted), and earn rewards. $SAND token is currently noted on over 20 exchanges, with the most popular being; Crypto.com, Bittrex, and Kraken amongst others.
The Sandbox is currently one of the leading 5 Metaverse tasks representing around 7% of the sector.
In other words, Axie Infinity is a Pokemon-inspired game based on the blockchain, where gamers can battle other gamers and make money.
Axies are distinct digital possessions kept on Axie’s’ own blockchain and owned in the form of an NFT. The most pricey Axie offered to date was for 300 ETH (Ethereum). To produce a brand-new Axie, existing Axie owners need to “breed” them by investing in-game currency earned within the game or purchased from an exchange. By winning battles, or offering their Axies to another player, owners can make the in-game currency. Any profits can then be offered or traded on the free market for cash, creating earnings for players.
Launched in March 2018, Axie was among the very first to combine Crypto, Play To Earn, NFT’s, and METAVERSE and it continues to grow with an overall trading volume that surpasses $2.4 billion.
JEDSTAR is a relatively brand-new job, releasing in August 2021. It’s a 3 token, decentralized ecosystem; which consists of $JED, a DeFi token, $KRED, a GameFi token, and $ZED, a Governance token. They will likewise launch AGORA – – an NFT market where gamers can buy, offer and trade their in-game NFTs.
The first token introduced was the DeFi token $JED in August 2021 and the second token $KRED will be the in-game currency and the currency for the AGORA NFT Marketplace which will be releasing in November 2021. $ZED, the governance token, will be introducing sometime after that, possibly early 2022.
Likewise in development at JEDSTAR is a DCCG (Digital Collectible Card Game) which is under building and construction at Frag Games and a Massively Multiplayer Online Role-Playing Game (MMORPG) both video games will utilize $KRED as the in-game currency. They likewise have a partnership with SkillGaming for the approaching STARDOME which will likewise use $KRED as its in-game currency however this partnership will also allow gamers to easily convert their fiat currency into $KRED assisting in a simpler method for people to access cryptocurrency, therefore, helping mass adoption of cryptocurrency in basic.