“To live in the Metaverse or not to live, that is the question”
When I had a meeting with a management team of Victoria VR I have asked them :
“Arent you afraid that people are going to like living in Metaverse more than in their offline life”.
They have answered:
“Why would you like a life where you can get killed, harmed, you can get bankrupt, and lots of other unpleasant moments.”
These words stuck in my head for quite a long time….something on that thesis is right.
Virtual reality is here with us since 1960 — The first VR Head Mounted Display invited by Morton Heilig. The breaking moment was in 2016 with the Oculus Rift launch. From this moment VR industry is growing rapidly.
What are the next steps in Virtual reality and Augmented reality?
Is a combination of multiple elements of technology, including virtual reality, augmented reality, and video where users “live” within a digital universe. Supporters of the metaverse envision its users working, playing and staying connected with friends through everything from concerts and conferences to virtual trips around the world.
Metaverse is transforming our everyday life from an offline world to 100% online with unlimited options.
What are the use-cases?
- Marketing- places ads that track viewability in real-time within gaming environments across mobile, console - Wendys
- Virtual Office Space- virtual office space that will make it feel like everybody is in the same room together - Virtuworx
- Take a Virtual Tour Around the World- An immersive world with realistic content will enhance the audience’s imagination and allow them to enjoy the location through an amazing first-person experience- Disney world tour - Disney
- Create a Virtual Learning Space at Home- a single avatar can move between spaces — such as from a lecture hall to a science laboratory.
- Games- gives players complete control over the digital assets they earn or gain through their participation in the games and completely new experiences while playing the game. It will feel for the first time like you are really living in the game. Check the link to find out more about Crypto games!
What are the challenges in adoption?
- Reputation and Identity — how to even prove that you are who you are, instead of another person or even bot trying to mimic your existence.
- Data Security- Submerging into the Metaverse will require evolving security traverse methods to a completely new level, being on par with the ever so expanding space of the Metaverse.
- Legal Questions- It will be a true challenge to identify jurisdiction as well as set legislations that can ensure the virtual space is safe and secure for its users.
- Currency and Payment Systems- Regardless of the currency and marketplace format, when it comes to transactions, it will be especially essential to develop a unique new transaction verification system. The challenge will lie in convincing users that they can rely on and most important feel safe while engaging in any trade within the Metaverse.
Let focus on the 4th Currency and Payment Systems challenge that we at Swipelux are trying to solve:
Metaverse is one of the technologies that in the first phase it did not need any kind of Blockchain or Cryptocurrency tech for starting up. But then the question arises: “What is one of the key elements of living your life in the offline world? => Ownership“- you own houses, cars, bank accounts, pets, clothes, devices, furniture, etc.
So that brings us to questions….?
What kind of mechanism that would be really safe can appear in Metaverse? Some kind of mechanism that will keep your ownership, that will keep all your data about the transactions stored and make them transparent, safe, fast?
The answer might be Blockchain technology with NFTs and cryptocurrencies in hand.
Blockchain is already being applied to a broad range of sectors from finance to art and video games are no exception. Play-to-earn games rely on blockchain technology, including in the form of non-fungible tokens (or NFTs), as the foundation for value creation. An NFT is a digitally secured claim of ownership for a unique, noninterchangeable digital asset. In practice, NFTs can take many shapes inside virtual worlds: characters, items, land, decorative personalization features such as digital clothing, and more. People ‘earn’ the most valuable items by playing the game very well, and can sell them for real-world money ontheir own terms.
It’s not possible to develop a Metaverse by one company only. In case there are multiple companies, they need to use one unified storage. As one unified storage is better to use blockchain technology
Summary of Metaverse:
- Is a place where you can feel the offline experience in the online world,
- Is serious business and moving further really fast,
- Has some BIG obstacles to overcome,
- One of them are payments, ownership-> potential solution= CRYPTO, BLOCKCHAIN, NFTs
If want to achieve mass adoption of Metaverse we have to solve this obstacle:
Complicated entry point!
Problem with adoption of new players to Metaverse:
If you consider that most of the users are not really familiar with cryptocurrencies, pancakeswap, sushiswap, metamasks, other DEX, etc…it will be a HUGE problem for them to understand it properly and the conversion rate of interested users will be really low.
This is very the Swipelux mission comes into place!
Making the entry point as easy as possible:
Ok, then there is the question of how we are going to do that, right?
We have developed a tool how to buy cryptocurrency with fiat using a credit card directly. We could integrate this widget into the gaming platform and Metaverse platform, so anyone will be able to buy gaming tokens or NFTs directly on a gaming platform using Visa/Mastercard without ever leaving the platform.
We are looking forward to becoming one of the players that will help with this amazing industry!
Let’s build an amazing future together!
Co-founder of Swipelux