Explosive growth and interest has led big players in industries such as gaming, retail, arts, healthcare and of course blockchain to position themselves at the forefront of the emerging metaverse ecosystem.
Meanwhile, global spending on VR and AR, foundational technologies of any metaverse, is projected to hit $72.8 billion in 2024.
We are on the cusp of a generational shift in how we play, interact and purchase in the digital world. But not every metaverse will emerge as a platform which engages and attracts users on the scale required to make a real success of the idea.
It’s not just Meta forging ahead with development — in fact they’re not even in the top three — as already there are hundreds, if not thousands of companies vying for a slice of the metaverse pie.
The size of existing user bases will not be the ultimate arbiter of a successful metaverse. Instead, the future lies in interoperability where partnerships between platforms decide just how much mileage a user can get out of their digital assets.
Meta might be reluctant to hand over any control of its tightly managed ecosystem which would be a requirement should you, for example, be allowed to take your Fortnite skins to their social and gaming experience.
Decentralized offerings have a unique opportunity to effectively turn the metaverse into an open source haven with low barriers of entry. There is no corporate selfishness or existential need to protect intellectual property: these are the projects which will place the user experience as top priority.
The key to metaverse success lies in the need it fills as it should be solving problems rather than creating them. Virtual reality can massively enhance gaming and social experiences, while augmented reality might just save the bricks and mortar storefront. Unique selling points will be crucial to the survival of new metaverse projects.
Oversaturation in the metaverse market is an expected outcome of the current buzz evident in the space. Reasonably it can be argued this is the nature of a rapidly-changing tech industry which has seen manifold companies fold following the Dot Com bubble and ICO craze for crypto.
Users will be spoiled for choice, so to return to the previous point, these metaverses need to be interoperable with so many other platforms that it is no longer about ‘buying in’, but rather a straightforward extension of existing digital habits.
The public will vote with their wallets and contribution to web traffic. The overriding demand may be to give them more options to customize and transfer their gaming, social or retail experience across the entire digital world — or at least a decent chunk of it.
Crypto Fight Club falls in the inherently decentralized category and as such, there is categorically no reluctance to form partnerships with other blockchain-based games.
Whether utilizing an NFT fighter in other games or finding a home for your guild in an NFT gym, users on CFC can explore and hang out on the platform while always retaining the option to transfer utility to partnered entities.
This is a long-term project which will be years in the making. By the time it’s built, there will be various game modes to keep you busy (including PvP) and numerous partnered metaverses to provide interoperability.
After all, it’s the users which make a metaverse.
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