Metaverse — The Integration of Blockchain and Virtual Reality

Qitmeer Network
2 min readMay 15, 2024

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Concepts like Axie Infinity, My Neighbor Alice, Sandbox, and Decentraland have gained significant traction in the market, demonstrating remarkable growth in metrics such as on-chain land auctions, cryptocurrency asset prices, and active user numbers.

Behind the rise of these projects lies not only technological innovation but also a clever application of the metaverse concept.

Metaverse

Metaverse, first introduced in Neal Stephenson’s 1992 science fiction novel “Snow Crash”, is a portmanteau of “meta” and “universe”, signifying a parallel artificial space running alongside the real world.

At the core of the metaverse are eight key features: Identity, Economy, Immersive, Anywhere, Low Friction, Variety, Civility, and Friends.

Summarized, these features describe a virtual space where individuals with “virtual” identities can access anytime, anywhere, with continuously evolving cultural content and economic systems, ensuring stable and secure operation while catering to individual needs for socialization, gaming, and economic activities.

Value of Blockchain in the Metaverse

Blockchain technology has brought revolutionary changes to the metaverse, enabling users to achieve true autonomy within it.

  • Firstly, it addresses identity and economic issues, empowering users with genuine autonomy.
  • Secondly, VR provides immersive experiences, allowing users to feel fully present in the metaverse.
  • Additionally, 5G and cloud computing support seamless access, ensuring smooth experiences.
  • Lastly, open UCG content production and gaming modes offer solutions for diversity, civility, and social interaction, collectively constituting a comprehensive metaverse solution.

In the metaverse, blockchain technology stands out prominently.

  • Payment and settlement systems leverage blockchain’s features for seamless integration. Smart contract deployments automate financial systems, offering non-custodial, verifiable, and traceable transactions. NFT applications facilitate digitization and trading of assets.

Currently, some blockchain games are immensely popular

  • Axie Infinity allows players to battle with a team of creatures called Axies and breed them by collecting items.
  • My Neighbor Alice is a multiplayer cooperative farming game where players can build their virtual lands and participate in various farm activities.
  • Sandbox aims to create a sustainable gaming and content creation ecosystem, providing tools and assets for players to create their gaming experiences.

Some thoughts on the Metaverse Track

In the current web3 competition, the rise of the metaverse is undoubtedly a significant trend.

Social interaction is undoubtedly the most crucial traffic area, fostering communication and collaboration among users.

Users can unleash their creativity to generate original content on platforms, enriching the metaverse’s content, increasing diversity and attractiveness, thus significantly enhancing user’s social experience and engagement.

Blockchain technology brings not only wealth creation but also new community governance methods, redefined user experiences, and entirely new gaming methods to the metaverse.

In the future, we can expect the emergence of more metaverse projects, injecting new vitality and possibilities into the development of the digital world.

📚 Original Recommendation

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Qitmeer Network

Qitmeer Network is the next generation payment network infrastructure based on BlockDAG technology.