Lesson 4: Gaming and the Metaverse

Welcome to the fourth lesson in Kriptomat Academy’s “Blockchain Use Cases” course. In this lesson, we’ll take a look at two more application areas that can make good use of blockchain technology: gaming and the metaverse.

Both cryptocurrency and NFTs are key parts of modern video gaming technology. The metaverse, which employs a gaming-style visual interface, is expected to use them too.

• The metaverse is a widely anticipated future version of the internet in which individuals, services, and objects are represented visually on-screen as they are in video games.
  
• In addition to making it easier to find and use online services, the metaverse is expected to standardize security and other aspects of online life, eliminating the need to have separate log-on procedures for every website.
  
• Online apps will share information appropriately according to user preferences.

Many multiplayer computer games benefit from the introduction of a digital currency

• The currency can be used to buy games, enhancements, and upgrades.
  
• Players can earn the currency through their achievements in the game.
  
• Game vendors can establish marketplaces that let users buy and sell blockchain-based gear, characters, and abilities.

NFTs, digital currencies, and combinations of the two can be used in gaming

• NFTs allow game producers to reward gamers with valuable enhancements at little or no cost.
  
• Digital currencies let game developers collect user payments for buying or playing the game, payments that can be converted to fiat currency at crypto exchanges.
  
• Game developers have tried both of these approaches as well as a hybrid approach in which users pay with digital currency and earn NFTs in the game.

Players could conceivably use the same identities, enhancements, and property in multiple games.

• This would allow players of multiple games to buy and sell enhancements at the same NFT marketplace.
  
• The establishment of a multiple-game digital identity could help accelerate the evolution of multiplayer role-playing games into metaverses in which a single ID works in interactions with all the metaverse environment’s shops, community members, and services.
  
• The user’s online appearance and personal details could be useful outside of gaming – in a general-purpose graphical representation of the internet like the metaverse, for instance.

The metaverse is a widely anticipated next version of the internet with improvements

• A single sign-on that works with all online companies and services.
  
• Merged real-life and online activities such as videoconferencing, watching movies, and socializing.
  
• Seamless migration of user data among all apps and services.
  
• A graphical interface that allows users to navigate by scrolling through an online neighborhood instead of launching separate tabs in a browser.

Blockchain technology, cryptocurrencies, DeFi apps, and NFTs all have much to contribute to a metaverse environment

• Many of the tech industry’s biggest companies, including Apple, Microsoft, Google, and Meta (the parent company of Facebook, Instagram, and WhatsApp) are building trial versions of the metaverse with and without blockchain technology.
  
• Meanwhile, developers are delivering blockchain-based metaverse-style gaming platforms today.

• Metaverse-style games include Cryptovoxels, Hyper Nation, Battle Infinity, Sensorium Galaxy, Decentraland, The Sandbox, Axie Infinity, Metahero, Star Atlas, and Dream Team. 

• A worldwide metaverse would benefit from having a single unified digital currency to eliminate the cost and inconvenience of exchanging funds.

So – what have we learned?

• In games, NFTs can be used to represent user abilities and accessories, property, and other objects.
• Game companies are taking the lead in building metaverse-style environments.
• The metaverse is an upgrade to the internet with a game-like user interface and greater interoperability of apps and web services under the hood.

That’s the end of this lesson! Test your understanding and earn points toward a Kriptomat Academy certificate of achievement by taking the test!

What is the metaverse?

The total value of all currently issued cryptocurrencies.

A new version of the internet unified by a graphical user interface and seamless compatibility under the hood.

An environment for minting and selling non-fungible tokens, or NFTs.

A list of all the websites, crypto exchanges, and brick-and-mortar businesses that accept crypto.

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How are NFTs used in computer games?

To store player rankings after each round of play.

To allow players to vote on game tasks and rewards in online forums.

To allow players to join forces, turning individuals into giants to battle in-game opponents.

To power in-game economies while representing players, objects, and belongings.

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Which of these is NOT a way blockchain technology could improve the metaverse’s operations?

Blockchain technology could allow players to conduct business with users and businesses all over the world without involving currency exchanges and banks.

Blockchain technology could serve as a standard system for buying and selling online and real-world products and services.

Blockchain technology could help keep the metaverse secure by creating a tamper-proof record of financial transactions.

Blockchain technology could handle efficient on-screen graphical rendering of streets, buildings, parks, homes, and so on.

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Which of these are blockchain-based gaming and metaverse projects?

Sorare and Decentraland.

Kintsugi and Wabi-Sabi.

Bitcoin and Dogecoin.

SolSea and Oxalus.

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How could blockchain technology be used to construct the user interface of a metaverse environment?

Users, objects, and locations could all be implemented as non-fungible tokens.

Blockchain technology could render menus impervious to hackers.

Blockchains are device-agnostic, so the user interface would work in the browser, as a desktop app, as a mobile app, and potentially on televisions and other platforms.

Blockchain-based cryptocurrencies rise in value, meaning that users could afford to buy more goods and services online as time passes.

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