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Blockchain Games and the Metaverse

Blockchain-based games have become a hot topic in the metaverse space. Metaverse games have enabled users to own their own virtual land and earn money. Some popular metaverses include SecondLive, Decentraland, and Axie Infinity. They are based on the Ethereum blockchain and feature a non-fungible token called Axie. Axies can be created by assembling over 500 body parts and can breed up to seven times. Offspring can be sold on the gaming platform.

Entrepreneurs will drive the metaverse and develop apps and services that are useful for the metaworld. As a result, it will be crucial to monetize these services. To do this, businesses may issue non-fungible tokens that can be used to own hour sessions. Online cinemas, for instance, could issue tokens for people to watch movies for a certain amount of time. Another example of a non-fungible token is a pass for an event or a planet.

A new mobile game from Crazy Kings introduces the play-to-earn model, in which players compete for crypto tokens. The game has also teamed up with cultural icon Bored Ape Yacht Club to create a blockchain game. The company has also inked several metaverse venture deals with 10 leading investment firms. Animoca Brands is a major shareholder of CryptoKitties and Dapper Labs, which created NBA Top Shot.

Facebook, one of the most prominent companies on the cutting edge of this space, is working to implement a metaverse. They own several different companies, and they recently changed their name to reflect this direction. As more users start to use metaverse, it will become a defining characteristic for a social network. For now, the metaverse is not fully developed, but the infrastructure is already in place. Aside from Facebook, other prominent figures in the cryptosphere have expressed similar views. One of them is Raoul Pal, a former hedge fund manager who is now an avid crypto enthusiast.