Blockchain use cases in the Metaverse: virtual real estate | Idealogic

What is the Metaverse?

  • Web 1.0 — is considered to be the earliest stage of the Internet and can be described as a platform with basic informational websites and several ruling companies like Google, Yahoo, and Microsoft. Users’ ability to interact with content was limited, as one could, for the most part, only search for the information written by content creators.
  • Web 2.0 — people are given a voice on the Internet, social networking sites, and blogging emerge. It leads to the initiation of user-generated content on platforms like Youtube, Instagram, and TikTok.
  • Web 3.0 — is supposed to be the next stage of development that includes blockchain technology, DeFi, decentralized applications, and the Metaverse itself. The current version of the Web is two-dimensional, so think of the Metaverse as a three-dimensional platform. Metaverse is a constantly operating virtual space, where people can interact with other users and digital objects via their avatars (personal in-game characters) and virtual reality headsets. It is a combination of physical and digital experiences that allows users to do some of what they do in the real world: attend concerts of famous artists, visit various social events, play games and even meet up with friends.

How can blockchain be used in the Metaverse?

  • The Metaverse of NFT marketplaces: currently, they are simply websites that display available NFT collectibles, help sellers and buyers meet. With the implementation of the Metaverse, they can be turned into 3D NFT art galleries where users can interact with artwork and other users on the platform. That will likely create added interest in digital art and help customers make more informed purchasing decisions.
  • The next level of blockchain-based games: in the previous article we discussed the concept of NFT-games and now, having VR technology as a tool, developers can add excitement to the gaming process, making it more real and exciting for users. The technology in the Metaverse will make it possible for gamers to use more of their senses, which means having the ability to feel, touch, and interact with in-game objects.
  • Authorization in the Metaverse: when a user signs up, their avatar is created, which requires them to authenticate their identity. This is where blockchain technology can be utilized as it records all the details about users, including their age, location, online activity history, and so on. It can prevent identity theft and fraud in the Metaverse.

Blockchain-based real estate in the Metaverse

Bottom line

--

--

Full-cycle development company with expertise in the product design, custom software development, QA assurance, and post-release support.

Love podcasts or audiobooks? Learn on the go with our new app.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store