What Is Microverse (MVP)?
Microverse is a decentralised world-building platform that allows users to build, play and engage in a vast world with endless opportunities to create captivating experiences. Built with the latest blockchain and VR technologies, combined with the innovative concepts of DeFi, NFTs and GameFi, there are countless possibilities and outcomes to be harnessed within the world.
Users will have full reign to explore this extended reality space, and they can enjoy exciting game mechanics, social networking activities and a wide array of products and services that promises to deliver a fun and dynamic journey. The Microverse world is a virtual space formed by a limited number of 13,810 pieces of PLOT.
Users can buy and own virtual PLOTs (represented by BEP721-tokens), collect exclusive BEP20-based NFTs and collectibles, and have fun developing and utilizing their assets (avatars, buddies, wearables, in-world items, tools, etc) within MVP. Landowners are free to develop their PLOT however they wish, and they can also choose to monetize every aspect within.
There is only a very limited number of PLOTs in the Microverse World, and users can acquire them using MVP tokens. The in-world economy will be completely driven by MVP tokens, which will be used for everything ranging from micro transactions to the purchase of goods and services, and will provide users with a sustainable in world economy in an all new parallel universe.
Microverse Storage Key Points
|Circulating Supply||510,000,000.00 MVP|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
The Significance of the Metaverse
The metaverse can create a highly connected environment with millions of players that can interact with one another throughout complex simulations, giving rise to limitless and exhilarating experiences. Investors are now flocking into this new industry in droves, and companies have been paying heavy attention to this with companies like Epic Games raising 1 billion dollars to support their development of the metaverse, while Facebook has been eagerly attempting a major transition from a social media company to a “metaverse one”.
There are several definitions of the term ‘Microverse’, but it is most commonly used to describe the next-generation evolution of the internet, made up of 3D virtual spaces linked into a virtual realm.The metaverse is more than a mere fad. It is incredibly attractive to companies and developers, as it may eventually be the place where all forms of entertainment and life activities can be consumed.
Multiple Companies Developing
While there are multiple companies developing their own version of the Microverse, there are substantial differences on how they monetize them, and how they empower developers and the community to create new products and user-generated content within their world.
As such, there is little cause for concern about the possibility of competition; every company has immense value to mine from their iteration of the metaverse, it all depends on how the different metaverses are structured and developed.
What are NFTs?
Non-fungible tokens (NFT) are digital assets that has a digital signature that renders it unique; it is possible for to distinguish between one NFT from another because they have a special, non-transferable identification. NFTs exist on a blockchain and can be used to represent ownership of practically any digital asset, such as art, GIFs, videos, music, images, or collectibles.
NFTs usually operates on the principle of decentralized finance, in which assets and participants in a market are traded via P2P transactions. It also presents a significant economic opportunity for enterprises to monetize previously illiquid assets. The NFT market is booming; with the total sales of NFT in the past month exceeding $900 million, and they are becoming an increasingly popular way to buy and sell digital artwork.
What is GameFi?
As the name implies, Microverse is an all-encompassing term for all things related to blockchain gaming combined with financial infrastructures that is prevalent in the growing decentralized finance (DeFi) ecosystem. With the explosive growth of blockchain in recent years, it seems inevitable that the technology would be applied to the gaming industry.
Indeed, the characteristics of scarcity and decentralization in blockchain can be perfectly applied to games. It is now possible to grant immutable ownership of in-game items to gamers, which solves the issue of item theft due to hacking, or the sale of fake in-game items.
Blockchain can also allow the transfer of assets between games, since these items no longer exist only within a single game. This allows gamers to derive greater utility from their in-game assets, since they can be used throughout multiple games, and can also be resold in the secondary market if needed.