What is metaverse?

Metaverse is an extension of the actual world made possible by emerging innovations. It is an online 3D virtual world where users interact with a computer-generated world and other users. A virtual space where users can meet, socialize, enjoy and work just like in the real world. Metaverse can be used to build virtual environments that reflect the actual world or can use them to create wholly new fictional worlds. This 3D world is made possible by a workable combination of virtual and augmented reality, social media and other virtual concepts. 

Ways in which the future of metaverse can transform the work

Immersive learning experiences and training 

The future of metaverse can transform training and skill development by considerably reducing the time required to develop and acquire new skills. AI-enabled digital coaches could offer career guidance and help train employees. It is especially beneficial for training in high-risk areas, where an immersive learning experience can simulate the real world while eliminating health and safety issues. Furthermore, the metaverse can help to improve employee performance and reduce training costs. 

Remote work culture 

Since the 2020 COVID-19 pandemic began, remote work culture has become a necessity. Even now, the vast majority of firms continue to run in a remote or hybrid workforce. But some issues are still prevalent and one main drawback is that they reduce communication and interaction among colleagues. The metaverse may restore communication without jeopardizing remote or hybrid work modules. According to studies, working remotely facilitates teamwork. However, the future of metaverse could undoubtedly improve VR workplace processes and environments to increase employee interaction and chat, strengthen collaborative tasks and others.

AI-enabled colleagues 

The avatars of virtual colleagues will be the only constraint to the real-world counterparts. Many digital coworkers will join, including realistic, AI-powered, human-like bots. In the metaverse, these AI agents will play the role of advisors and helpers, undertaking much of the heavy lifting, thus freeing humans to focus on higher-value activities. In recent years, there has been immense progress in conversational AI systems that use algorithms to analyze text and voice conversations and speak in natural language. Such algorithms are now being used to create digital humans who can understand context, express emotions, make decisions and make human-like movements.  

New roles in the metaverse economy

The internet did not simply bring new working ways; instead, it brought an entirely new digital economy - new jobs, new enterprises and new roles. So will the metaverse as the immersive 3D economy continues to gain momentum over the next decade.

Future major technologies that power the metaverse

Blockchain 

Blockchain is a safe and reliable technology that offers a decentralized and transparent solution for digital accessibility, interoperability, collectability and value transfer. Users may transfer value using blockchain-generated cryptocurrencies while working in the 3D virtual world. This technology has the ability to encourage people to work in the metaverse. People will certainly gain more metaverse-related jobs with the growing popularity of remote working.

AR and VR 

AR and VR are the access point for the metaverse. Both of these technologies are massive engines necessary to support the building of the metaverse project. It is one of the greatest tools for creating a virtual environment and interacting with it in the metaverse. AR can benefit users with physical simulations, and VR helps with 3D simulations. When putting these two together, they make an immersive and realistic metaverse experience in 3D settings. To put it simply, AR is helping to propel the growth of the VR industry. 

Internet of Things (IoT)

IoT is a technology that links the real world with the internet through sensors and devices. When it comes to the metaverse, IoT strengthens the connection between virtual spaces and physical devices or objects. These devices can seamlessly share and acquire information to make the metaverse a more accurate representation of the real world. IoT provides the metaverse with real-time data gathered from the physical world. Such data can enhance the accuracy of the virtual world’s activities and make them relevant in the actual world. 

Artificial Intelligence (AI) 

Artificial Intelligence is another big name in the list of major technologies shaping the metaverse. AI is crucial in the development stages of the metaverse. Its ability to efficiently and accurately handle large amounts of data can be quite useful. In addition, it can be used to design non-player characters (NPC) that the players cannot control. NPCs respond to player activities automatically using predetermined algorithms. It can also be used to create 3D as well as realistic virtual avatars. AI can assist in the creation of more life-like avatars with facial expressions, haircuts, clothing and more.

3D Reconstruction 

Creating natural and life-like environments is a crucial technology in the metaverse. It can form actual homes and structures in a three-dimensional space, allowing for realistic building creation in the metaverse. Users can interact with the digital replicas exhibited in the metaverse. Since the epidemic, 3D reconstruction technology has come into more use. 3D cameras as well as other technologies, provide authentic 3D images, attracting more users.   

Edge computing 

In modern businesses worldwide, edge computing is the technology that meets the need for faster data transmission. It is one of the main requirements in the metaverse that must be met. Users can access and benefit from the latest version of distributed computing for providing superior tech infrastructure and delivery features. This technology, which is used in commercial places, allows for a more seamless experience with less interruption. Furthermore, it provides its users with efficiency and an engaging gaming experience.   

Top metaverse projects that exist today

Since the metaverse is the trendiest tech topic, every industry is diving into it, leading to an exponential rise in metaverse projects. Let’s take a look at some of the most popular projects that exist today.  

Gaming metaverse - Decentraland: 

Decentraland is a gaming-based decentralized metaverse project that aims to provide a realistic and engaging virtual environment for users worldwide to create, discover and trade NFTs. Users can buy land, play games, host live events, and do other fun activities that are also done in the actual world. The platform is powered by DAO ( decentralized autonomous organization) and is owned and regulated by its users. They can vote for decisions like feature upgrades and optimization, propose significant changes and engage in governance.

Multipurpose metaverse - Enjin: 

Enjin is a metaverse project based on the Ethereum blockchain that allows for establishing of marketplaces on its horizon. Based on their industrial specialization, companies can develop decentralized NFT marketplaces, build NFTS, integrate them and exchange them for real money. The platform allows developers to establish marketplaces for gaming, branding, real estate and e-commerce. To prevent any unnecessary hassle, users can store and manage their NFTs on the secure Enjin platform.

Real estate metaverse - Upland: 

Upland is a blockchain-powered gaming metaverse project that lets users purchase, sell and trade real-world properties. The properties on this portal are represented by NFTs, which users can own to become digital landowners and trade to generate UPX coins. Unlike previous metaverse projects, Upland aims to create a digital economy that merges the actual and digital worlds, allowing individuals to benefit from the utility of both worlds.

Conclusion

The metaverse is the internet’s next generation. Combining the elements of augmented reality (AR), virtual reality (VR), online games, cryptocurrencies and social media, the future of metaverse brings in a new era of interconnected virtual experience, reimagining the workplace. It will fundamentally alter the way we think about work. Work can take on any form we want to be, and this is due to the fact that the metaverse is a blank canvas that enables us to build any work environment we can think of. 

Are you looking to venture into the metaverse business? Logic Simplified, the top game development company, can help you make your mark in the virtual future. We provide end-to-end metaverse development services for a wide range of business sectors. Our game designers and developers have a firm grasp of the metaverse and supporting technologies like NFTs, blockchain, cryptos, 3D technology, VR and AR tools and more to create futuristic projects. For any suggestions or queries, contact us or drop us an email at enquiry@logicsimplified.com.

The Metaverse is not a newly created word, and it was originated in 1992. Author Neal Stephenson invented the term first time in his fiction novel “Snow Crash”, imagining avatars who can meet and talk in a digital space. It is a combination of various technologies such as virtual reality, machine learning, augmented reality, artificial intelligence, and blockchain technology. Players can use this technology to develop a virtual identity and enter the digital world. They can have a captivating experience by adapting to their surroundings rather than focusing on a flat-screen. Metaverse gaming gives an illusion of you being part of the virtual world in real life. 

NFTs, on the other hand, are a new class of digital assets that is one-of-a-kind, valuable, immutable, and indivisible. They show the ownership of virtual assets like weapons, costumes, avatars, and many more. Nob-fungible tokens are safely stored on a blockchain technology behind cryptocurrencies. The NFTs technology plays a vital role in Metaverse game development. Once you buy a specific virtual object, you own a token that is certified on a blockchain and establish your connection with the virtual asset.

Metaverse and Gaming - The two sides of the same coin

In the gaming sector, the Metaverse is not a newly invented term. It is one of the major sectors which allows users to interact in ways they have never done before in a challenging game environment. It enables players to create, sell and trade objects in NFTs form in a shared digital realm. NFT gaming technologies are breaking the digital world’s limits, allowing gamers not only to trade items but also they can even transfer them through the Metaverse. 

This word is used by a few gamers in their gaming experience. With the right equipment VR headset, players will get an opportunity to teleport to their favourite games in person quickly. The online free-to-play cross-platform battle royale game Fortnite is the finest example of proto-metaverse. The gaming industry has evolved to the advanced world of virtual avatars and transactions that are powered by cryptocurrency or NFT (Non-Fungible Tokens).

Top 7 advantages of NFT in gaming

NFT in gaming will be one of the most important new developments in 2022, and it will be challenging for developers as well as publishers to ignore it. As it is a virtual environment, Metaverses have a wide range of features. However, the following are the most essential:  

Gamers will have more control 

When playing traditional games, players are acquainted with buying in-game items through seasons passes and microtransactions. But, NFT in gaming gives an opportunity to players to sell the in-game items and earn a share of future resales. Thus, giving players to have full control over their earned and acquired assets. This gives a great chance to players to invest in virtual assets. It is an excellent opportunity for gamers in the digital age, mainly those who grew up trading old games to fund new ones. For instance, in the Fortnite game, a player can change the character’s skin. This game creates a scarcity, but it is in the control of the developer. NFT in gaming allows players to control the sale and resale of items.     

Rise of Play-to-Earn games 

NFTs are advancing due to the popularity of play-to-earn model games, and some players are even making a living from them. Despite the fact that numerous Play-to-Earn games, like Pokemon, are identical to non-NFT games, there are claims that some of them are backdoor blockchains. Under the pretext of collectable objects, the game comes second to trade and buying cryptocurrency. Furthermore, by playing the games and winning them, users will win rewards in cryptocurrency form. Remember, Play-to-Earn games can also be challenging to navigate crypto wallets, buy-in fees, hidden costs, and more. However, by combining the best ideas and UX design of Free-to-Play and Play-to-Earn, there is still an opportunity for improvement. 

NFT in gaming adds value 

Till now, any objects that a user invest or unlocks in a game have a value within the game. Also, that money is lost if the game shuts down. On the other hand, NFT in gaming unlocks and adds value to gameplay that is already experienced. It is vital because NFTs have the potential to make a second-hand market for virtual games and objects effectively. NFT gaming lets users be the legal owners of in-game things, which they can sell, trade, or hold. This is possible by blockchain technology and an NFT-based in-game economy.  Users making money from a game isn’t a new concept, but NFTs are safer and adaptable.

Interoperability 

As stated earlier that NFT is based on blockchain. This provides the present system with a high level of security and interoperability. This is one of the most appealing features of NFT games. Classic console and PC games each have an environment that is incompatible. The assets and characters of the players are always restricted to that specific game. Games that are based on blockchain technology, on the other hand, boast interoperability - the ability to use specific game objects in various locations. NFT games can coexist on the interoperable or identical blockchain, with game assets that can be traded with other gamers.  

Authenticity 

NFT perks are mostly dependent on their uniqueness. As non-fungible tokens are produced on the blockchain, they are linked to specific records. The NFTs unique feature exhibits their potential for contributing value. Similarly, the makers of NFT have the possibility to issue a particular number of NFTs in order to build scarcity of supply. With play-to-earn gaming models that are by nature publicly decentralized, run virtual assets on blockchain portals. This makes NFTs immutable, which offers the assurance of authenticity. Immutability ensures that blockchain-based NFTs remain unaffected by changes, replacement, or removal. As a result, NFTs might simply represent their authenticity as the most valuable quality. 

NFT games will lead the metaverse 

The NFT powered games are far ahead of the curve for those looking at the perks of blockchains and metaverse. Games will be a part of the Metaverse, and Non-fungible tokens will connect them to their aspects of the connected, virtual future. The Metaverse will be distributed across the internet presented on various portals, games, and websites. This alters the way we play games, interact, and socialize. Gaming companies are competing to enter the Metaverse games. Metaverse and NFT gaming have already begun, and it will make it swiftly and easier. 

Next-generation social experiences 

Metaverse is to reinvent existing social interactions, and NFTs play a critical part. By owning specific NFT avatars, in-game assets, and items, players can authenticate their identity among the different avatars accessible in the digital universe that can be traded, bought or sold. This further provides users exclusive membership experiences in both the Metaverse as well as the real world. Therefore, the social experiences are enhanced. 

Future of Metaverse and NFT in gaming

Metaverse is still in its early stages, and innumerable gaming companies are working on developing it. It is a vast concept, and NFTs can play an important role in the wide ecosystem. Although Metaverse and NFT are two different entities, the design is the common thread that binds them both. In both Metaverse and NFT, a game designer's involvement is unavoidable. In order to create experiences that are a gateway into another universe, game designers will need to shift their skills, perspective, and approach. To create fantastic experiences for players, they must develop a fully engaging design. Developing the digital worlds that allow them to live in them rather than just experience it. 

Even though game app developers are still a long way from it, the indications of the Metaverse are becoming more evident. With the rapid rise of Metaverse and NFTs, game designers will undoubtedly play a significant role in the future. While some companies are still figuring out what the term means, the Metaverse is leading in the gaming industry. For instance, games like Fortnite, where players can dress up as their preferred Marvel or Star Wars characters, and in gaming portals like Roblox where you can gather badges and built your own world online. Same as the internet, Metaverse gaming will be the next big thing. 

Conclusion

In the gaming world, Metaverse refers to a concept that allows players to visualize different worlds. It will be a truly innovative and drastic method to enhance your digital experiences. It has the ability to revolutionize the way individuals interact with technology and people. Within seconds you will be able to make your human-like avatar, create a virtual room and enjoy a digital presence that is more like real-world interactions. As a result, a growing number of companies are searching for ways to adopt it. Considering the pace at which technologies are developing and companies are generating unique ideas surrounding immersive reality, it is a matter of time before the Metaverse becomes a reality. Moreover, NFTs also become more advantageous in terms of adding value and sustainability to the gamer's revenue by making them openly available on numerous interoperable blockchain portals. As a result, one will reasonably expect the best Metaverse and NFT games to make headlines in the coming years. How do you feel about the information that we shared in this article? If there is any suggestion or feedback about Metaverse and NFT future, you can contact us or drop us an email at enquiry@logicsimplified.com