Crypto metaverses are still in the early stages of development. The same goes for games that incorporate non-fungible tokens (NFTs). But this does not mean that they cannot change digital marketing for blockchain. In fact, experts predict that they can transform crypto space. To make the most of metaverses, users must understand their key features.
Defining Features of Metaverses in Crypto
Metaverses have been around for a long time. Crypto metaverse developers differentiate their worlds from earlier versions with the following features:
Blockchain technology powers metaverses in the crypto space, so these worlds are decentralised. Blockchain can make up some or all their parts.
A crypto metaverse opens more impartial ways for users to interact. And because it is decentralised, participants share ownership of it.
So it does not matter if the original creators of a metaverse walk away from their world. The metaverse will continue to exist.
● Real-World Economic Value
Crypto metaverses rely on blockchain technology and crypto tokens. So their economies connect with the larger economy in the crypto space.
Metaverse users can own a wide variety of items, such as avatar skins, tokens, and virtual real estate. They can trade these items on NFT markets and decentralised exchanges (DEX).
In short, metaverse participants can command real-world value for their metaverse-based investments.
Crypto metaverse users can trade their items for assets in the same world or a different metaverse. They can also exchange their items for investments that are not a part of any metaverse.
● Proven Provenance
Assets in crypto metaverses typically come in the form of tokens, like NFTs. What these tokens represent differs depending on the virtual world.
If the metaverse is a game that pushes users to do tasks, it may put value in various achievements and items. A great example of this is Axie Infinity, one of the hottest crypto games today.
If the metaverse lets users make, buy, and sell virtual lands, it may offer ways to monetise the experience. The Sandbox is an excellent example of this type of metaverse.
NFTs help ensure in-game items are transparent. They also make sure the items connect to asset markets.
Moreover, every NFT is unique. So users can easily code metaverse items and tokens to ensure the provenance of in-game content and assets.
● Governed by Users
Besides owning their metaverse, users also have some control over their virtual world they are participating in.
Some crypto metaverses give their users control through governance tokens. They also rely on decentralised autonomous organisations (DAOs). These channels allow participants to vote for changes and updates.
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