PlugCHAIN & Metaverse
Metaverse” is a combination of ‘meta’ meaning ‘virtualʼ and ‘verse’ a backformation from ‘universe’. The origin of metaverse can be traced to the science fiction novel “Snow Crash,” written by Neal Stephenson in 1992. In Snow Cash, some delivery drivers travel the metaverse to save themselves from a capitalist dystopia. Metaverse is a new technology that has the potential to change everyday life and human interactions.
The concept of metaverse has already been illustrated in some popular video games like Roblox, Fortnite, and others.
Metaverse could on a very basic level change how we interface with the computerized world. An aggregate of virtual interactions could give more freedom to creators, gamers, and others in the ecosystem. Similarly, non-fungible tokens (NFT) are currently reshaping the creator economy while also designing how the economy should function optimally.
The virtual universe of the metaverse could turn into its own trillion-dollar industry. A go-to for amusement, trade, and as far as some might be concerned, even a source of career opportunities. The metaverse isn’t being portrayed as an expansion of the web, yet a replacement. Also, it’s being constructed utilizing blockchains and decentralized applications.
The intersection of Metaverse and Blockchain
The Metaverse is a three-dimensional virtual space where social and economic activities are commonly used just like the real world. NFT plays a role in mediating interaction and proving private ownership of properties within the Metaverse world. An example of an NFT application is CryptoKitties. It is a blockchain-based cat reproduction game, CryptoKitties Game users are given only one cat in the world in CryptoKitties. Cat digital assets have a rarity because they contain a separate unique recognition value, unlike existing virtual assets. In general online games, when the service is terminated, there is a problem that the character developed in the game can no longer be owned. However, digital assets with NFT technology can be distributed and stored by individual participants connected to the network to prove ownership.
Crypto projects like Decentraland and The Sandbox have created virtual universes that incorporate digital assets so gamers can make structures like virtual gambling centers and amusement parks, and adapt them. MANA is the token of choice on the Decentraland platform and is available on various exchanges.
Plugchain and Metaverse
With more key features set to be introduced on Plugchain, it is set to be one of the leading blockchains for building metaverse applications.
Metaverse projects stand a chance of maximal growth if they are built on the Plugchain platform.