Friday, October 7

We tell you the differences between the different types of metaverses


Despite the recent popularity of the word metaverse, it is important to note that there are several types of metaverses, each with significant differences. As we have already written several times in Blockchain Observatory, the idea of ​​metaverses is not new. Spaces like Second Life or Habbo are also metaverses, but it has been the different applications of blockchain technology, such as NFTs or DAOs, that have taken them to another dimension.

Metaverse type differences

The non-blockchain metaverse refers to all kinds of virtual world. From those that are totally centralized, such as Grand Theft Auto (GTA) or the mythical Sims, to the metaverses that are becoming popular today. Like Minecraft or Roblox. However, it has been the economies and markets that can be built within them, thanks to blockchain technology, that have put them in the crosshairs of investors and ordinary people. In this sense, the role of the NFTs, which serve to represent the value of the goods that are traded in them, has been fundamental.

MANA, the Decentraland metaverse token, reaches its maximum price

Blockchain allows transforming the conception of metaverses, multiplying their possibilities, by connecting the real world with the virtual one. Blockchain metaverses are places where an economy develops parallel to the real one, only entirely digital. In these metaverses, users can monetize their talent, buy land, pizza, art, clothes, cars, etc. Probably, as happened with the internet, all companies will open a headquarters in the metaverse in the near future

NFTs y DAOs

NFTs and DAOs have played a key role in the development of blockchain metaverses. NFTs or non-fungible tokens are unique assets that are used for the digital representation of a physical or digital asset on the blockchain. Their main characteristic is that they are finite and that they have been designed to have unique and digitally verifiable properties. In metaverses, NFTs serve to connect the real world with the virtual, allowing the creation of virtual economies.

A Decentralized Autonomous Organization (DAO) is an organization controlled by smart contracts. Smart contracts are transparent and immutable and are responsible for establishing the rules of some metaverses. In this way, all the members of the metaverse know in advance the rules of the community and know that they cannot be modified in the future, as they are registered in the Blockchain. Likewise, the holders of the tokens of these metaverses have the right to vote on the metaversian future just as in an electoral process.

MANA, the Decentraland metaverse token, reaches its maximum price

Types of metaverses

Among the “traditional” metaverses we find, for example, the classic video game Grand Theft Auto. A video game saga that began in 1997 and that, beyond the central story of the game, allows to establish relationships with other users in a virtual way in an open world that replicates the real world. For example, one style of play that has become very popular in GTA is “Roleplay.” A mode in which the player’s avatar has a job that exactly replicates the real world. Thus, you usually start with a low-profile job, such as a garbage man or taxi driver, and depending on the money and the experience you have acquired, you can move up socially in virtual reality.

The list of blockchain metaverses that move the most money in sales

A special example of a “traditional” metaverse but with similar characteristics to blockchain metaverses is Roblox. It is an online video game platform with a game creation system, which allows users to create their own virtual worlds. Thus, although it is not yet built on blockchain technology, many video game developers at Roblox see it as the natural evolution of the platform. In fact, within Roblox a pilot test of a blockchain virtual world known as PlayDapp Town has already been launched.

Metaversos blockchain

Within blockchain metaverses, you have to differentiate between centralized and decentralized. The main difference between these two types of metaverses lies in the control of the virtual world. In centralized blockchain metaverses, like Earth2 or the one Facebook is planning to launch, all control is in the hands of a single organization. In these metaverses, the central organization has in its possession all the data of the users, being the only one that decides on the future of the metaverse. Likewise, the difference of these blockchain metaverses with the “traditional” metaverses is that the former do integrate micropayments with cryptocurrencies and the virtual elements are represented as NFTs. Therefore, they do have a virtual economy of their own, but control of this economy rests in the hands of a few organizers.

Investors skyrocket the land price of metaverses

Lastly, there are decentralized blockchain metaverses. These metaverses work through a DAO and have a fully autonomous virtual economy controlled by users. This is the case of Decentraland, The Sandbox or Cryptovoxels. Despite the fact that they were originally constituted by a single organization, which was in charge of developing the virtual world, they all intend to become Decentralized Autonomous Organizations. That is, in the future all these metaverses will be controlled entirely by users.

This last type of metaverse is the one that probably has the most potential in the future. In fact, although these metaverses are currently in a very early stage of their development, they have already caught the attention of numerous companies such as Adidas, Shotebys, Coca-Cola or Gucci.

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