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Animoca Brand, Decentraland, and the Metaverse
Animoca Brand and Decentraland are two successful blockchain-based games that let users own and play on virtual land. Both companies have partnered with cultural icons Bored Ape Yacht Club to create blockchain games, and inked multiple deals with 10 of the most influential investment firms in the world. The Metaverse has attracted an array of companies, including Microsoft and IBM, with plans to add even more to the mix. This is a promising start for a new type of gaming ecosystem.
The metaverse will be social by nature, unlike standard VR experiences that tend to be solitary. Gamers can invite friends from the real world and engage with them on the metaverse, forming relationships. Play to earn will be a core feature of the metaverse, and gamers will be able to engage in lucrative activities such as selling virtual goods to other users in exchange for cryptocurrency. As the architecture of the metaverse develops, game assets may become portable. Some companies may even create a planet for meditation and self-actualization.
Facebook and Microsoft have a stake in the Metaverse. Facebook, for example, has partnered with Decentraland to create an interactive digital environment for employees to share and collaborate on projects. However, this new digital environment is largely unusable without a gaming headset. These companies will have to create new platforms and commercial partnerships if they want to succeed. Ultimately, the success of the Metaverse will depend on its ability to attract and retain users.