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The Metaverse And Its Relationship With The Future Of Gaming Ecosystems

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VOC, Voice of Crypto, Metaverse

In 2021, articles and infographics relating to the metaverse began to spring up all over the internet.

This didn’t come as a surprise, because the metaverse is built atop blockchain technology, virtual reality (VR), and augmented reality (AR). All of which are aspects of the tech space that have gained massive popularity over the last decade.

The metaverse is one of those new concepts that the tech-savvy believe will shape the future of virtual interaction.

Cryptocurrencies and blockchain technology being restricted to regular tokens or NFTs alone are a thing of the past. Gone are the days when the only ways people could communicate over the internet were through skype calls and social media. 

These days, gamers can ‘exist’ in virtual realities by creating digital twins. Players can now join numerous gaming platforms and earn or exchange cryptocurrencies while they play.

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The Metaverse And Gaming Ecosystems

Video games are one of the largest sectors of the entertainment industry.

Gaming ecosystems have been around since the 1970s, long before the advent of the metaverse. Nowadays, these ecosystems allow multiple players to participate in play-to-earn opportunities where players can earn cryptocurrency rewards just by playing games. This is particularly advantageous because players can learn about cryptos and the blockchain, and have fun gaming at the same time.

Developers, however, have started to integrate parts of the metaverse into the gaming ecosystem. And this is a good thing.

The metaverse and its associated technologies have created advancements in general gaming, allowing gamers lifelike experiences in virtual realities. They haven’t even begun to scratch the surface.

Cryptos, NFTs and Metaverse Gaming

NFTs or Non Fungible Tokens are virtual tokenized assets, stored on the blockchain as digital data. Put simply, something as simple as a picture can be converted into an NFT. Ownership and details of these assets are stored on the blockchain as well and can be transferred from one owner to another. This allows NFTs to be sold and traded as usual.

The use of NFTs in gaming means that these tokens can be used as in-game collectibles. Gamers collecting these assets can choose to hold or sell them on NFT marketplaces like OpenSea and BakerySwap.

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Gaming ecosystems use these tokens as incentives for the gamers, with some of the tokens serving as utility or governance tokens.

The Way Forward

Though metaverse gaming systems are still in infancy, the trend has grown over the years. It may continue to grow, especially now that billion-dollar firms like JP Morgan and Ubisoft have begun to invest. 

Numerous advancements have been created using this exciting new mix between the metaverse and traditional gaming ecosystems. 

Some of these include virtual worlds where anyone can interact with others and earn crypto by performing basic tasks. Some of these ecosystems even allow you to buy virtual land, fight battles or participate in races, among other things.

Metaverse gaming ecosystems ensure that their users have immersive experiences when they play. Players can level up, collect rewards and build their characters or virtual twins.

In Conclusion

Gaming isn’t going anywhere in the foreseeable future. Metaverse integrated gaming ecosystems are the latest stage in the evolution of gaming. This new trend is here to stay. That much is obvious, with the rate at which more and more companies and investors are jumping on the bandwagon.

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What do you think? Is this mix between the metaverse and traditional gaming here to stay, or is it just some passing craze?

Adekunle Joshua is a cryptocurrency writer. He has a deep understanding of the technology and how it can be used to improve the world. James is a strong advocate for using cryptocurrency to make the world a better place. He wants to help people understand the technology and use it to improve their lives.

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