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Whitewolf Ventures Into the Metaverse
The company behind the game “Snow Crash” is investing in the metaverse, which is a digital gaming environment inspired by the reality. Whitewolf is also an investor in The Sandbox, another company in the metaverse. Both companies have yet to reveal their ultimate plans for the game. “We are not sure where the Metaverse is going,” says Whitewolf. “But we know the potential to break down barriers between developed and developing economies.”
The Metaverse is projected to be available for mobile phones, desktop computers, game consoles, and virtual reality glasses or headsets. It will be accessible by millions of users and offer the possibility of collaboration and creative expression. Many companies are already operating in the metaverse, and the game company Epic Games recently announced that it will raise $1 billion in funding by April 2021.
Entrepreneurs will be the driving force behind the Metaverse. They will create content and services for the virtual world, as well as monetize those services and products. These businesses will issue non-fungible tokens to facilitate their services. The tokens can be used for many purposes, from purchasing goods to viewing movies. Some tokens can even serve as passes to clubs or events.
Adoption will be crucial to the Metaverse ecosystem. If the game has a play-to-earn model and is fun to play, players will adopt it.