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Blockchain, NFT, and Game Revolutionize the Metaverse

Metaverse is a 3D digital space where collapsed virtual and real boundaries allow users to connect in a multi-dimensional environment. It offers an immersive experience and is a great way to connect with others through avatars, virtual objects, and other forms of communication.

Crypto, NFT and Game

The blockchain’s underlying technology is revolutionizing the metaverse by enabling users to fully ‘own’ their virtual objects or experiences. Non-fungible tokens (NFTs), a type of secure digital asset based on blockchain, can be used to buy and sell items such as art, music, or real estate in the metaverse.

Games are taking advantage of this new economic model. Some of the most popular metaverse games on the market rely primarily on the NFT economy, including developer-based titles like Illuvium.

Big Brands are Getting in on the Action

The metaverse is attracting mainstream and crypto-native brands alike, who have set up virtual headquarters and regularly hold events and festivals within the metaverse. For instance, in 2021, famed auction house Sotheby’s opened a virtual replica of its London headquarters in Decentraland.

Other companies have begun offering virtual products and services within the metaverse, such as Snapchat’s augmented reality filters that allow users to add effects to photos with their phone cameras. The company also launched a pair of augmented reality glasses in 2021, which allows users to interact with the world around them without leaving the app.