Let’s face it, the world around us will never be the same in the coming 5 years. The reasons for this are not only the pandemic and other global challenges such as political divisions and wars. The rapid popularization of ICOs is associated with the desire of start-up entrepreneurs to find additional investment tools. You can read 2-3 expert opinions to be sure of this. Now, millions of enthusiasts – antique dealers, traders, casino app developers – are looking for new, more diversified payment solutions.
If you are interested in cryptocurrency, you will hardly find the same projects in a specific ecosystem. Each team adheres to exclusive principles. Registration conditions for most platforms have been unregulated. Indeed, this means endless possibilities for users. But after hundreds of investors were deceived, the developers had to reconsider their decisions. Most of the changes were related to state regulation and certification. As a result, the market has become more constrained. So, it was the reason for looking for alternative solutions like NFT or DeFi — the time for a new phase of cryptocurrencies
Change is on the Horizon — Don’t Miss It!
The Metaverse is an ecosystem where the VR is in the form of an avatar. Users can cooperate with other enthusiasts who prefer this way of communication and lifestyle. Due to the DeFi, digital and real entities can be combined, including AR/VR, cryptocurrencies, and gaming. Here are the main advantages of this technology:
- Integration with web3.0. Enthusiasts can bring photos, videos, art, music, films, books, and games into the digital world using NFT technologies. An asset purchased in any Metaverse application can be used in other environments/contexts, helping to provide an additional user experience. It’s much more than social networks, LinkedIn or Networker. The possibilities of web3.0 are almost limitless.
- The digital ecosystem provides customizing outfits, game plots, and even individual in-game worlds. This means that people working in the creative industry have growth opportunities. Let us say, Snoop Dogg (American rapper) created his metaverse on The Sandbox and named it SnoopVerse. This is just one case.
- 100% integration of the virtual and financial world. Thomas Pushmann very subtly mentioned that the digital development in the BFSI sector (banking, financial services, and insurance) consists of 3 stages. Now, globalization includes digitalization (focusing on automating services), vendor-centric solutions (integration of major banking systems), and finally customer-centric personalization (implementation of new IT).
- Additional opportunities. With the tokens of some blockchain projects, entrepreneurs have various rights in the project: voting on governance, performing some game actions, and buying/selling NFTs on different marketplaces. Of course, it’s like a social network, but more globally.
Now, the GameFi segment competes with the conventional gaming market. To grow in the standard industry, users have to stream (collect views and donations) or participate in tournaments. In the GameFi realm, it’s much easier to make a profit. Some platforms will not require a huge investment. All you need is to open an account and create an e-wallet. Moreover, the entire gaming experience can be shared on social media or through other platforms.
Key Takeaway
No doubt, the GameFi ecosystem has become a place to earn crypto assets. It’s not just an investment. With some games, people can bet on the results of various competitions and earn predictions. Enthusiasts can increase profits on cryptocurrency platforms by participating in tournaments. This is a 100% return on investment. Projects that allow characters from different games to compete on the same platform are very popular.
About Author:
Mike Choo is skilled in cybersecurity and IT. An experienced freelance writer who has been following the work of Michael Mikalko, a leading expert on creativity.
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