Metaverses in crypto are not new, and the same goes for the Internet of Things (IoT). But they have been making rounds in recent blockchain news. Metaverse and its different use cases are gaining popularity, thanks to Facebook’s recent name change. Meanwhile, more than one top cryptocurrency marketing agency has looked into how blockchain can empower the IoT. Read on to get the lowdown on both hot topics.
Best Use Cases of Crypto Metaverses
Metaverses in crypto provide people with new ways to invest, play, gather, and interact with each other. And most importantly, they give way to these activities while helping users build their wealth. The following are some of the most popular use cases of crypto metaverses today.
Decentraland is a virtual reality platform that lets users develop land that they can buy with MANA tokens. Players can build everything from medieval castles to modern casinos. The metaverse also holds regular events, like exhibits, games, and festivals.
Axie Infinity (AXS)
Digital asset management experts consider Axie Infinity one of the top-performing cryptos of 2021, and with good reason. By late November, this metaverse saw over 24,000% gains. Axie Infinity lets users breed, raise, compete with, and sell Axies.
Sandbox lets players buy, sell, and create lands. What distinguishes it from Decentraland is that its virtual world is not yet available to the general public. It also puts an emphasis on customisation and non-fungible token (NFT) creation.
Star Atlas (ATLAS)
Star Atlas is a game that lets players explore a unique metaverse using a customised spaceship. Gamers can also develop the world and join or make factions. ATLAS, its metaverse token, fuels this immersive world.
Enjin Coin (ENJ)
Enjin works with several gaming platforms and lets players sell in-game items on the marketplace or use them across several games. In short, it gives people a hassle-free way to manage NFTs, which represent virtual items.
The development of many metaverses is a huge step for the platform. Not only does it take metaverses closer to being the norm, but it is also a step closer to these platforms operating with each other.
Interoperability plus the power of virtual reality and the accessibility of social media. These features make it all the more possible for crypto metaverses to become the next level of the internet.
Blockchain and the IoT
Like crypto metaverses, the IoT is another tech that has the potential to transform the virtual landscape. Experts often compare it to blockchain. But what about combining them? Top blockchain technology companies explore this concept.
The IoT Has Pitfalls
The IoT is the network of physical items or “things” in sensors, software, and other tech that lets devices connect and exchange data. It broke boundaries and made life easier, but it has limits.
For instance, security is a concern because IoT devices are vulnerable to attacks from cybercriminals. Scalability is also an issue since a large number of devices connecting to a network can turn it into a bottleneck. As a result, the network can fail under the pressure.
How Blockchain Can Empower the IoT
Blockchain technology works on a distributed ledger that is tamper-proof. So it adds an extra level of security to transactions, which is a must in online trading. No one has complete control over the ledger, and no one can alter or overwrite its records. This prevents hackers and other malicious attackers from accessing the network.
Incorporating blockchain in IoT can enhance security and transparency. It also reduces inefficiencies because it can allow users to check the real-time progress of the factors involved in their transaction. Moreover, blockchain can speed up transactions and reduce costs caused by validation and processing.
For these reasons, many blockchain companies consider the technology one of the best solutions for the IoT’s drawbacks.
Stay on Top of All Things Blockchain With Key Coin Assets
Blockchain trends and developments are dynamic. Crypto startups can transform sectors, metaverse games can offer great returns, and agencies can implement drastic regulations—all in a span of days or weeks. Miss out on them, and you risk weakening your strategy. So stay on top of the latest blockchain news with Key Coin Assets.
As a top cryptocurrency marketing agency, we can give you the lowdown on all the hottest updates in the crypto space. We can also help you determine how you can leverage trends and developments. So contact us NOW at 843-886-9547 to start investing in yourself!