Augmented and virtual reality have introduced us to a new world of possibilities. The metaverse, the universe of shared virtual spaces and experiences, is the next step in this evolution.
But as we continue to explore and build this new world, we’re realizing that the current metaverse isn’t going to be able to meet our needs. We need to find a better way to connect, share, and interact online—and the solution is GameFi.
According to Statista, over 2.7 billion people in the world actively or passively play video games, with China ranked first as the biggest gaming market in the world. And while the industry has been traditionally male-dominated, video games are increasingly being seen as a legitimate form of entertainment for women and are now a $30 billion industry.
With the rise of social gaming, developers have taken note and have been hard at work creating games that not only keep players entertained but also keep them coming back for more. One such company is GameFi, a San Francisco-based start-up that is on a mission to modernize the way people interact with each other and the world around them.
How is the metaverse taking shape?
The metaverse is slowly coming into existence. We’ve already seen the first steps toward a 3D world, with platforms like Facebook, YouTube, and other social media sites offering virtual reality experiences, and the first fully immersive environments such as Oculus and Vive coming to market.
But the metaverse is about much more than just VR and AR. It’s about a new way of interacting with technology and with each other — a way that’s more intuitive and immersive, and that feels more natural and human.
GameFi: Disrupting the online gaming industry
The play-to-earn model has shaken the online gaming industry, with traditional players looking to switch to GameFi projects like Axie Infinity, and others to come. The online gaming industry is highly fragmented, with hundreds of games and platforms using a variety of business models.
GameFi is disrupting the online gaming industry by building a core online gaming platform with a cryptocurrency that is used to buy in-game assets and progress, instead of buying an online gaming subscription. GameFi’s platform is focused on providing players with direct ownership of their in-game assets, which they can use to create unique and immersive gameplay.
Gaming is evolving. The way we play and connect is changing, and with that change comes new ways to bring people closer together. The latest addition to the GameFi family is an immersive virtual reality platform that brings gamers together in a shared virtual space. The result is a new way to experience games, and a new way to connect.
The world can be a complex and confusing place. There are so many different apps and services and devices, and it’s easy to get lost. But one thing hasn’t changed over the past decade: the human need to communicate and share experiences with others. The Metaverse will finally give us the ability to connect with others in the physical world—through shared experiences.