Understand the relationship between Metaverse, NFT and games

Understand the relationship between Metaverse, NFT and games


Boopathi Krishnan

8 days ago | 4 min read

The metaverse concept proposed in the 1990s suddenly “resurrected” in another form 30 years later, and ushered in its own bright moment in the NFT marketplace . During this process, games have become an important carrier of metaverse + NFT design. The respective role positioning and cooperation of these three The relationship is easy to confuse. This article will briefly sort out the relationship and coordination among the three.

Metaverse + NFT: interdependence, symbiosis and co-prosperity

The future that Metaverse wants to create is not difficult to understand, that is, using technology to project various contents of the real world into the parallel universe, allowing users to immerse themselves in a series of virtual activities such as socializing, gaming, and creating. Supported by a variety of technologies, including blockchain, games, network computing power and virtual reality technology, etc. Among them, games and blockchain are the technologies and media that Metaverse relies more on. It needs to create a fair, open source, and reliable economic system. With the help of blockchain, it can just guarantee the security of users’ virtual assets and virtual identities. The value exchange in the metaverse is realized, and the entire circulation system is executed in a transparent manner. At this level, users can not only have an extraordinary experience in the metaverse, but also create circulation value.

Such technical characteristics of the blockchain can be explained in any industry, which is also a relatively macro argument. From a longer-term development perspective, what the metaverse needs to combine is the value element brought by encryption technology-NFT. Why do you say that? The new 5G, Internet of Things, artificial intelligence and other technologies in the development of the Metaverse are essentially infrastructure, which only provide solutions for technological realization. However, in order for the Metaverse to truly operate, there must be economic activities. With economic Only the active metaverse can be called the real world. In the digital economy of the blockchain, because the trading medium of FT can be copied continuously, without scarcity, it cannot provide anchor value. As a non-homogeneous token, NFT perfectly solves this problem. Each NFT is uniquely corresponding to a certain reality. Users can truly enjoy the unique digital ownership of Web3.0, and based on the unique value The value anchor of scarcity, and then conduct transactions. With transactions, there will be commerce, and various economic transactions in commerce also make the Metaverse truly operate.

NFT has created a very large and important economy in the first half of this year. According to data from the encryption analysis platform DappRadar, the sales of NFT in the first half of 2021 reached 2.5 billion US dollars. Since March, the weekly NFT sales volume has remained at 10,000 to 20,000 pieces. In June, NFT marketplace OpenSea hit an all-time high in monthly sales of nearly $150 million. Moreover, the market dividend in this field has not yet been fully released, and will continue to maintain an upward trend in the second half of the year.

With the help of the concept of the Metaverse, or by taking advantage of the enthusiasm of NFT, both will achieve more breakthroughs and innovations. From the perspective of the core value of the Metaverse, the Metaverse is a multi-dimensional shared environment that transcends space and time. The addition of high-tech technology will profoundly change the way of communication and interaction in the real world, and continue to provide services to users. The coexistence of such roles will surpass Existing physical roles have scalability beyond the boundaries of imagination. Secondly, the extension latitude of various elements in the metaverse is not limited by hardware at all, and can undergo long-term evolution and development. Furthermore, as a digital species, Metaverse has become a rich and exciting dynamic community by providing rich content and further generating data, digital items and assets in the interaction. With the help of metaverse, it can further accumulate application scenarios, community foundation and transaction volume, and have real liquidity and application to support the long-term development of NFT.

From the perspective of NFT, it has broken the circle in a series of popular events in March and April this year, and has gained wide attention from the public. In addition, the application scenarios have gradually become diversified from a single one, and encrypted artwork, games, music, sports, NFT tickets, etc. have layouts. In addition, NFT has a full wealth effect. With the tens of millions of dollars in auction prices of NBA Top Shot and other star cards or works of art, it has driven the madness of a series of application products and also helped the development of NFT. For the development of the metaverse, NFT can realize the carrying of virtual assets and virtual identities. Through the development potential of the external market and its own non-homogeneous characteristics, it can provide various elements of identity, social interaction, freedom, diversity, economy and transactions for the metaverse. Unleash real vitality and expand more value space.

Leverage the game scene to release more value elements

Although Metaverse has a wide range in a broad sense, the current exploration of Metaverse combined with NFT is mainly in the field of games, and it is also a relatively more suitable development path verified by the current market. The background of the development of this trend can be roughly summarized as follows: On the one hand, most of the product experience in the early metaverse revolved around the game industry, and a certain user base has been accumulated. On the other hand, games have a lot of value extensions. All users can be consumers or creators.

Nft Marketpalce Development


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Boopathi Krishnan

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