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Due to the current COVID-19 restrictions, many people spend most of their time online, supported by technological advancements and social networks’ intelligent algorithms that keep people online. The digital world has become acknowledged worldwide that investors started putting their money into virtual assets.
Thanks to the Blockchain industry’s latest developments, people can now purchase assets with cryptocurrency. Blockchain was deemed as disruptive tech that significantly changes the way consumers or businesses operate. Currently, Blockchain’s revolutionary applications are poised for the gaming industry.
Experts say that the first actual use for Blockchain is gaming, making games more alluring than ever. With the surge of Blockchain awareness in the gaming sector, many projects have accessed the space, and more people began making virtual worlds.
Virtual Lands
What are virtual lands? A virtual land refers to a piece of land in the digital space, wherein users can do whatever they want with their land. Many virtual world projects and games have different benchmarks of the grounds they offer.
What’s more, many experiences can be established on these lands. For example, a user who owns a virtual land in the virtual game can rent it or sell it, just like what you can do in the real world.
With the surging demand for virtual lands and the rising trend of virtual world projects, many new projects began directing their efforts on making a virtual reality world of their own.
Popular Virtual World Projects
The following are a few virtual world projects you should know:
- Decentraland. In this virtual world, users can create, buy and sell various 3D items, play games, and socialize. The idea behind Decentraland is to build a virtual space that people can call their own. Decentraland offers users the chance to acquire pieces of land and build any objects on them, such as cities, shops, and whatnot. You can also gamble here. At present, casino websites let you play blackjack with a real croupier through a webcam system, but all this could change with VR casinos.
- The Sandbox. This community-driven virtual world allows users to build, own, and profit from their gaming experiences on the ETH Blockchain. The Sandbox seeks to conquer the current impediments of the gaming market and quicken the acceptance of the Blockchain all over the world. In this metaverse, the land is a virtual piece of real estate that users can buy to build whatever they want on top of it. Players can establish different assets and games, too. Each land on this metaverse is a distinct NFT on the ETH Blockchain.
- Axie Infinity. Axie Infinity, inspired by Tamagotchi and Pokemon games, is a decentralized game based on ETH Blockchain. This virtual world introduces players to Axies, the fantasy creatures. Underneath their adorable appearance, Axies have powerful potential. Players can breed, raise, and battle these creatures and even trade them. What makes Axie Infinity stand out is the battle system. The fantasy creatures will fight in a three versus three battle. Although the Axies battle for their own will, players must have a good strategy in hand to win.
- Somnium Space. This cross-platform virtual world was created in 2018. Somnium Space allows users to acquire land and construct and ship objects to the platform; thus, establishing an ordinary virtual world. In this metaverse, players can pick between three different land sizes: 1,500 square meters (large), 600 square meters (medium), and 200 square meters (small). Somnium Space aims to accelerate or advance access to the fascinating experience of the virtual reality world by enabling users to build a thriving economy within.
Why Cryptocurrencies Are Needed In Virtual World Projects
For digital items to have lasting, absolute value, they must be independent of an entity that may decide to disable or remove the item at any moment. By using Blockchain, it is possible to build a polished off virtual world, brimming by the users’ creations and operating on the rules made by its users.
It enables users to build a virtual world that exists independently and allows people to use it without risks. What’s more, due to Blockchain, copyright protection is still present, despite decentralization.
If someone steals the credit of another person’s work, it will be documented in a Blockchain. Another thing, integrating with the cryptocurrency market makes virtual world popularization straightforward. If people learn that they can make money while spending their free time in a virtual reality world, interest will rise significantly.
Takeaway
Blockchain technology has excellent potential in the gaming industry as it offers incredible improvements for developers and gamers. It is especially true in terms of interoperability, transparency, and decentralization. With the merger of cryptocurrency and virtual world projects, users get to have more freedom.
Author Bio
Annalise Weathers is an online writer at www.onlineunitedstatescasinos.com. Not only does she write about the gambling industry, but business, travel, and finance topics as well. When not working, Annalise loves to hang out with her family.