4 Blockchain and Crypto Projects in the Metaverse
In the metaverse, a rapid growth is taking place. Projects continue to develop and connect in order to help integrate more aspects of our daily lives into digital technology. It is a fact that blockchain is playing a vital role in this development.
Among these games are a wide variety of RPGs like Cyber Dragon and Alien Worlds, a metaverse universe called SecondLive, and even a player-owned casino referred to as decentral.games. As a part of the metaverse, collectible card games like TopGoal also have a place.
On the Ethereum blockchain, Decentraland and Sandbox both allow users to create a digital identity, buy land, and trade NFTs on NFT marketplaces. Adding work and life into the mix, players are able to participate in play-to-earn DeFi economies as well. It can be argued that users with the potential to generate income can interact with and play the game, which in turn generates income. A similar experience can also be found in Bloktopia, which takes place on the 21 floors of a digital skyscraper. On each floor of the building, users will be able to rent or trade real-estate space as a means of generating income.
While the Enjin project does not yet provide a 3D virtual reality universe to explore, it does offer the tools to create in-game NFT assets in the future. Another important aspect of the metaverse is the creation of digital collectibles that are based on NFT technology. Enjin is an application that allows users to create liquid NFTs that can be broken down into ENJ tokens at any time.
Introduction
A massive year has been experienced by blockchain and cryptocurrency in the year 2021. This industry has continuously made headlines from meme coins to bull runs to new financial technologies. A new trend has emerged during the year's final half: the Metaverse. It is becoming increasingly evident that the metaverse is capturing the public's imagination as it combines our real-world social lives, our work lives, and immersive technology. Although the metaverse is still in its infancy, crypto is already playing a prominent role. The next thing you'll want to know is about some of the blockchain projects bringing about the new digital future.
Why are crypto and blockchain important for the metaverse?
The importance of crypto and blockchain for the metaverse can best be understood by taking a moment to review what the metaverse is and what crypto and blockchain are. An online, connected universe that can be explored using 3D avatars, the metaverse. On one platform, users have an option for working, socializing, creating, and learning all at the same time. Think of it as the next evolutionary step in the internet experience.
The web has services like PayPal and card payments, but the metaverse has cryptocurrencies to create a digital economy. In the metaverse, blockchain technology proves to be a useful technology for six key areas: digital proof of ownership, digital collectibility, value transfer, governance, accessibility, and interoperability. In a metaverse, Blockchain technology provides a transparent and cost-effective solution that makes it an ideal choice. For a more detailed exploration of each of these areas, visit our What Is the Metaverse? Here is a look at how it's used in a variety of blockchain projects from across the metaverse.
The Sandbox is a blockchain game in which users are invited into a virtual world which is filled with non-fungible tokens (NFTs), user-created environments, and other content. The Sandbox is a mobile game developed in 2011 which has grown into a high-end game that uses Ethereum (ETH), as well as the token SAND, to power its in-game economy. This involves the creation of a player's own avatar and digital identity, a key concept in the metaverse.
It is possible for an avatar to be associated with a cryptocurrency wallet so players can manage their NFTs, SAND tokens, and any other blockchain assets they may have. The VoxEdit and Game Maker tools can even be used to create games and items which can be added to a game. There are many powerful programs that are capable of creating video game assets, which can then be translated into NFTs. Due to the fact that users can trade these items, this has resulted in the development of a play-to-earn model which allows them to earn extra income by playing The Sandbox.
The Decentraland project is a virtual universe where players maintain their plots of land, organize events, host content, and participate in other social activities. A crucial part of the Decentraland economy is built around blockchain technology, which enables the establishment of digital identities, ownership, and rarity for items. There are several well-known and famous projects that predate the big metaverse craze that occurs in late 2021.
The company, established in 2016, was started by Estaban Ordano and Ari Meilich, who took a basic 2D game and turned it into a large world with NFTs worth hundreds of thousands of dollars. Additionally, the project has its own utility token, MANA, which is an ERC-20 token.
What is the role of Decentraland in the metaverse? The game ticks a lot of metaverse boxes: a 3D interface, a digital economy, a social component, and in-game events. Due to the increase in projects connecting to Decentraland, it can be considered a metaverse hub. Furthermore, Decentraland is particularly known for its virtual real estate NFT known as LAND. LAND, in addition to providing voting power in Decentraland's decentralized autonomous organization (DAO), has seen an increase in its price over the past few years, making it extremely popular among investors and traders.
What is Enjin (ENJ)?
A blockchain platform called Enjin was developed in order to create NFTs which can be used as in-game items. In order to simplify generating Ethereum-based NFTs for the general public, the project has released software development kits (SDKs). It has become very obvious that NFTs are now one of the most important components of the metaverse and Enjin has tried to create a more secure way for people to mint them.
It is common to complain about NFTs being illiquid. For your NFT to be purchased, you will need to find a buyer, which can take some time. The Enjin NFT, however, can always be exchanged for ENJ coins by melting them. NFTs will always have some value, as long as the price of ENJ doesn't reach zero, so long as the price of NFTs doesn't reach zero. converting NFTs into ENJs can provide you with instant liquidity since you do not have to wait around for a buyer. In terms of empowering digital collectibility and scarcity, Enjin seems to be a one of the most useful parts of the metaverse.
What is Bloktopia (BLOK)?
The Blaktopia VR Metaverse Game is another VR metaverse game that takes place in a 21-story skyscraper. Bloktopia strives to be a hub for events, socializing, working, and more in the same way that Decentraland and The Sandbox do. There are 21 floors to represent the 21 million bitcoins worth of the maximum supply. As part of its four main aspects, the Polygon blockchain is used as a support for the project: learn, earn, play, create.
Learn :
Bloktopia will act as a portal for users to learn about blockchain technology and the ways in which it is helping power the metaverse. The platform provides an accessible and interactive way for users to learn about cryptocurrency.
Earn :
Bloktopia's native token BLOK, its virtual property Reblok, and its advertising platform Adblok represent a play-to-earn model.
Play :
To be able to socialize with friends online and to take part in a variety of games and content created by the users themselves.
The concept of playing to earn has become a hot topic within the gaming community. It is very attractive to be able to earn income by playing and interacting with games. Bloktopia goes further than Decentraland and The Sandbox in its approach to the sale of real estate. The floors of Reblok can be rented to tenants or rented for short-term events. As users spend time on their level, they may earn advertising revenue.