Metaverse: is it just a buzzword?
--
Depending on who you ask, you’re going to get wildly different opinions on the metaverse. Some say it’s nothing but science fiction, others say it’s been around for more than a decade, while some are convinced it’s the future.
As blockchain game developers, we fall into the camp that believes the metaverse is the future.
We take a deeper dive into how it came to be, how prominent it is, and in what way will Engines of Fury contribute to this next online frontier.
Taking a trip down the memory lane
The concept of the metaverse gained a lot of traction during the pandemic and reached the peak of notoriety when Facebook changed its name to Meta. But in reality, the idea and the terminology have been around for a while.
When exactly were the seeds planted?
Surprisingly, it happened back in the 90s — an era infamous for Friends, Spice Girls, and the general overuse of flannel.
The term ‘metaverse’ was coined by Neal Stephenson in his novel Snow Crash. With the benefit of hindsight, we can now see that a lot of the ideas regarding the modern-day version were already present in the pages of his sci-fi book.
For example, one of the story aspects is humans using avatars and interacting with each other in a virtual world that was the VR successor for the traditional internet.
Spooky, isn’t it?
The idea then became a reality in the early 2000s when the game Second Life rose to prominence and amassed almost a million players.
Second Life was a virtual world that had no gameplay mechanics or objectives. The main point of the game was to become a digital substitute for the real world, and it was successful at that.
How successful?
It also had its own virtual currency.
With that in mind, let’s jump back towards the present day.
Crypto and metaverse
The metaverse of today is not far from what our good friend Neal envisioned. It’s a shared virtual world in which players interact with each other, craft their own stories, and create in-game objects.
One of the most important aspects is its currency and economy.
Users can buy, sell, and trade items — and this even includes virtual real estate.
These kinds of features were present in games of days gone, especially in the genre of MMORPG. However, the inclusion of cryptocurrency into the mix is something completely new.
Blockchain and crypto-assets such as tokens fit in naturally with the idea of a metaverse economy. Now, in-game items can be represented as NFTs, which can be exchanged for other digital assets and eventually turned into a fiat currency.
Crypto metaverse also has a real-world market value because its economies are directly tied to the overarching crypto-economic systems. This means that everything players acquire in-game does have an intrinsic real-world value.
Another major thing that differentiates crypto metaverse from the archaic type is the fact that the crypto incarnations of the virtual worlds are decentralized. Nobody truly owns the metaverse, and if the creators of the world were to disappear, as long as there were players, the metaverse could continue existing indefinitely.
Crypto universes are also usually community governed. Token holders can vote on the direction the game will take, drive changes and decide on which updates should get introduced.
Jumping on the bandwagon
The metaverse is exploding in popularity right now as 2021 saw many major companies ‘’dipping their toes’’ in the concept. We already mentioned Facebook, but interest in the metaverse isn’t limited to tech giants only.
Apart from Microsoft and Apple, we also have Amazon hinting on using augmented reality to browse items while IKEA developed a solution that allows users to scan their room and then furnish it with IKEA products.
Fashion brands have also doubled down on their investments into the metaverse. We have Nike getting involved with digital products, with major hints that the legendary fashion house Chanel, intends to do the same.
On the gaming front, Epic Games announced investments into the metaverse. Their plans shouldn’t be surprising as there are multiple examples of successful metaverses right now. Among the few popular ones are:
- Axie Infinity
- Decentraland
- The Sandbox
- Treeverse
These games have managed to attract large communities whose members are reaping a lot of economic value from investing their time in the game. As we are in the same business, we plan to do the same with our game, Engines of Fury.
At the moment, Engines is an action-packed auto battler with appealing graphics and deep lore. While we are positive it could build a strong following in its current state, we have something a lot bigger planned.
Our end goal is to make something different than what is out there at the moment:
transform Engines of Fury into a full-fledged, open-world MMORPG metaverse.
The game will be completely decentralized and token holders will be able to run things and vote on a multitude of issues. Ultimately, our community will have the power to decide how the game turns out, and they’ll decide on what kind of characters they want to see or what kind of quests they’d enjoy the most.
Engines of Fury is still in its infancy, but guess what?
So are crypto multiverses.
The fact that self-contained worlds based on the blockchain can exist and thrive is impressive, no doubt — but that’s not the way we ultimately foresee them to go. Everyone in blockchain expects these to become interconnected into one multiverse.
All the universes combined could potentially become a major player in the global economy at large.
Not bad for a buzzword, eh?
One step at a time
If you are doubting the transformative power of the blockchain, or the potential of a crypto metaverse driving a part of the global economy, you only need to look at how traditional companies are looking to leverage crypto.
Yes, we are concerned about the whole Meta/Facebook business and we don’t trust Mark Zuckerberg to keep the project decentralized. However, a tech giant looking to expand into our world is a great indicator of the value crypto can offer.
From its humble beginnings as a sci-fi concept to an actual virtual world with real-life value, metaverse will continue to grow beyond what it is now. In a couple of years, we are certain it’s going to reach mainstream acceptance — with or without Meta.
About Engines of Fury
Engines of Fury is a wager-based PVE/PVP arena battler based in a stunning 3D retro-futuristic world on blockchain Metaverse & powered by $FURY.
The game allows players to engage in exciting duels & tournaments where they can win $FURY, forge NFTs, and earn profits.
