Metaverse Projects Using Crypto Technology
Using crypto technology, Metaverse projects allow users to create 3D virtual spaces that are fully immersive. These spaces can be accessed through virtual-reality headsets. They also provide new levels of digital sociability and allow for the creation of new markets.
Some popular Metaverse projects include Decentraland, SecondLive, and The Sandbox. These projects use crypto-asset protocols to create infrastructure for the Metaverse. These technologies allow individuals to build their own virtual worlds without the need for central governance.
The Sandbox is a virtual world where players can create, build, and play games without the need for centralized government. The Sandbox is owned by Animoca Brands, which is also a major shareholder in CryptoKitties.
Axie Infinity is another metaverse project that utilizes crypto-technology. In this game, players earn Axie Infinity Shards, which are used to win prizes by competing in tournaments. The game also allows users to vote on community treasury funds.
Using a token, users can purchase virtual land in The Sandbox. These virtual spaces can be sold for real world value. They also give users passes to clubs and events.
Some people are worried that a big-tech metaverse may eventually be like the app store. But if the Metaverse is built by entrepreneurs, they will be responsible for providing services and content to users.
In a recent podcast interview, Facebook’s Mark Zuckerberg said that the company was “open” to interoperability in the Metaverse. But he also said that it would take time for closed ecosystems to work together.