When blockchain dips into the metaverse: virtual and reality ‘shake hands’

Spend $5,000 on a pair of ‘virtual sneakers’, but these sneakers can’t be touched or worn in reality, and buyers can only experience ‘wearing’ them in the virtual world through a customized AR filter.

You think no one will buy such a pair of shoes? The “virtual sneakers” jointly launched by fashion brand RTFKTStudios and crypto artists sold more than 600 pairs within 7 minutes of the opening of the sale.

In that virtual space, every aspect needed in the scenario of clothing, food, housing, transportation, life and work can be customized by the entrant, and the created objects in the space generate supply and demand, and economic activities are born.

The Hollywood movie “Top Gun” can be said to be a kind of presentation of the metaverse world. As time marches to 2021, one of the changes in the metaverse is that it is interacting with the real world through virtual or crypto assets, and the created objects in the metaverse are even becoming a source of income for some people.

In an investment report released in 2021, ARK, the world’s leading technology investment giant, mentioned that video games are becoming the third most important scenario outside of home and work, and that the revenue generated by virtual worlds is expected to grow from the current $180 billion to $390 billion by 2025. The concept of metaverse is also starting to attract Internet giants and capital layouts – Facebook and Apple started to develop AR glasses, and Roblox, a virtual game creation platform, went public on the New York Stock Exchange. In addition, blockchain and crypto assets have dipped into the metaverse world. What exactly is in the metaverse? What is its attraction to capital? In this issue, DeFi Honeycomb will sort out the metaverse products in the blockchain space.
What does the metaverse look like?

The term Metaverse can be traced back to the American science fiction novel “Snow Crash” published in 1992, which was initially translated more as “super metaverse”. In the novel, the Metaverse is a cyber world that users worldwide can access through virtual reality hardware.

By 2021, the Metaverse is real in the Internet world, and it has a more sci-fi name – the Metaverse. The fictional virtual reality (VR) technology is no longer a concept. Combined with the development of reality augmentation (AR), 3D and other technologies, the Metaverse is a virtual space that accommodates increasingly diverse scenarios, including games, art creation, architectural spaces and more. Technology enthusiasts even believe that the metaverse has developed into a space that exists parallel to the real world in which people live, where people and things in the real world can be digitally projected in the virtual world, and things you would do in life can be done in the virtual world, such as shopping, traveling, and socializing.

Even, in the metaverse, ordinary people can achieve what they want to do but can never do, for example, buy a piece of land and build a 1000-story building. The scenarios presented in the movie “Top Gun” have been realized in some games, where people start playing, or even living, with a virtual identity through VR glasses and VR headsets. VR technology and equipment allows people to enter the virtual world from the real world, another “I” in which they can feel the amazing experience. There are players with a few seconds, you can first climb the high mountains lofty Himalayas, and then back to Hawaii beach surfing.

When blockchain dips into the metaverse: virtual and reality 'shake hands'

Activity scenes on Decentraland

People in the meta-universe are more strangers who also love to live and work in the virtual space. The virtual identity is another you, and you can work, socialize and even partner with the virtual him in business. Interestingly, the virtual “you and me”, through the metaverse, creates real value to the real “you and me”.

In 2021, the metaverse is having a strong impact and interaction with the real world due to the popularity of crypto assets. Some games even have a complete economic system where players can work in the virtual world to earn income from various assets, and virtual assets can be exchanged not only for each other, but also for money used in reality, becoming a source of income for players.

Blockchain, called the ‘Internet of Value’, plays an important role in the meta-universe, not only allowing virtual assets to be associated with real values, but also providing a rule carrier for users’ identity, property and the operation of the economic system in the virtual world. At least, the blockchain, which emphasizes “decentralization”, brings the benefit of “no middleman to earn the difference” to the metaverse world, and the virtual you, me and him interact directly, and the value generated by the interaction can be exchanged directly peer-to-peer.

The metaverse world, which is constantly enriched by the originality of its inhabitants, is full of imagination. You can see in some virtual spaces under the concept of metaverse the strange paintings created by artists, houses that do not conform to the rules of realistic architecture, and you can walk in galleries with infinitely extended space …… Non-homogeneous tokens NFT and its industry The emergence of NFT and its industry not only brings economic output to the original “residents”, but also these value outputs are confirmed on the chain, which is owned by you and no one has the right to change, take away or destroy it.

Even if the platform serving your creation shuts down its server, your NFT digital assets can be presented at any time because you have kept your private key properly, and you can transfer them to other platforms that comply with the rules on the chain, or continue to create, or give them to friends and relatives, or sell them directly. With VR, AR, 3D technology plus blockchain, the world of metaverse is getting closer to reality.

Blockchain immersion in metaverse applications

At present, the blockchain application of metaverse is still mainly based on games, and NFT game is one of the most suitable directions, and several NFT games based on blockchain technology have been produced.

Virtual World Decentraland


Decentraland (MANA) is a decentralized virtual reality platform built on the ethereum public chain where users can buy, sell and build blockchain assets. Users create, experience and monetize their content on the platform and can earn revenue while interacting with other people.
Each land (LAND) in Decentraland is represented by a non-homogenized token, NFT, and each LAND has its own code, i.e. each land is represented as an ERC-721 token with unique location parameters. MetaMask, a cryptographic asset wallet, is one of the entry points into Decentraland, and users can purchase LAND with MANA, Decentraland’s native token, and the consumption behavior and consumer goods are recorded on the ethereum chain, which cannot be tampered with, and the ownership of LAND belongs to the purchaser.


In addition to LAND buying and selling transactions, you can also use LAND to create on the platform, such as designing your manor and decorating your land; you can also buy clothes in the store to dress up your virtual flesh, and after dressing up, go to an art gallery to exhibit or simply auction your works; you can also participate in social scenarios such as virtual parties or conferences. On June 5, auction house Sotheby’s moved its London gallery into Decentraland, with some NFT artwork completing an exclusive auction in this virtual gallery.

When blockchain dips into the metaverse: virtual and reality 'shake hands'

Decentraland official website


NonFungible data platform shows that as of June 16, the last 7 days of Decentraland platform turnover amounted to 470,000 USD, the number of sales 375, the total amount of historical transactions of 63.67 million USD, the total number of products sold about 120,000.
According to the official website of the trading platform OpenSea, the total turnover of products sold on the Decentraland platform on the official website of OpenSea was 90,057.84 ETH, and the number of wallet participants was 4,582.
The number of tokens MANA issued is 2.805 billion, MANA can be used to buy land in the game, and also to buy virtual game goods and services. The temporary quotation is 0.74$, the circulating volume is about 1.5 billion, the circulating market value is 1.163 billion USD, and the number of addresses held is 102,788.

Sandbox game The Sandbox


The Sandbox (SAND) is a virtual game world built on ethereum. Users can build and experience 3D games here, receive rewards for completing tasks, and earn revenue by making games using pixel models created by the community. There are 166,464 pieces of land (LAND) in The Sandbox, each of which is a non-homogenized token NFT or ERC721 token, which also represents the digital real estate on the Sandbox platform. Users can purchase the land LAND with the platform token SAND, and owning a piece of land means that the player owns a part of The Sandbox meta-universe. The total number of SAND issued is 3 billion, with a provisional price of $0.29, circulation of about 620 million, circulation market value of $187 million, and the number of SAND holding addresses is 17,351.


Currently users can purchase land that is already registered for sale on OpenSea. After purchase, you can freely design and run your own games on your land, you can also buy other equipment or assets to fill it, and you can also rent it to other game developers to get rent.

When blockchain dips into the metaverse: virtual and reality 'shake hands'

TheSandbox official website For players, you can experience several of The Sandbox’s official pre-defined games and get rewarded SAND for completing tasks to buy more props and resources. For creators, you can create personalized game worlds with the Game Maker (game editor) provided by The Sandbox. This game editor is very easy to get started, it doesn’t require any code knowledge, just drag and drop some elements to complete. Creators can sell their work and get SAND revenue. In addition, all users have their own character identities, and you can customize skins, hairstyles, and even enhance attributes with equipment. The character identity can enter various game scenarios, interact and socialize with other people online.


NonFungible data shows that as of June 16 The Sandbox platform in the last seven days on the transaction amounted to $ 320,000, the number of sales 273, the total amount of historical transactions have 27.49 million dollars. Trading platform OpenSea data shows that The Sandbox’s turnover amounted to 13,908 ETH and the number of participating wallets was 10,716.

Virtual City Block Cryptovoxels


Cryptovoxels is also a virtual world built on Ether, which is represented in the metaverse world as pixelated city blocks, where users develop and sell real estate by buying land and building stores and art galleries on the pixelated blocks. In Cryptovoxels metaverse, every element is an NFT. artists, favorites can build digital galleries, decorate them in a personalized style, and then put their NFT works inside for users who enter this virtual world to visit and buy. Every player can build their own ideal world, enjoy socializing and create skins here. The plots in Cryptovoxels are likewise auctioned and sold on the OpenSea trading platform, and various ethereum wallets are the entrance to this world.

When blockchain dips into the metaverse: virtual and reality 'shake hands'

Cryptovoxels official website


NonFungible data shows that as of June 16, Cryptovoxels’ turnover amounted to $100,000 in the last 7 days, with 29 sales, a total historical turnover of $11.16 million, and a total number of about 9,000 products sold. OpenSea data shows that Cryptovoxels turnover amounted to 15,929.21 ETH, and the number of wallets involved in the transaction was 1,256. It should be noted that Cryptovoxels did not issue any tokens, and land purchases only support ETH payments.

Cross-platform Somnium Space


Somnium Space (CUBE) is also a virtual reality world built on the ethereum public chain, unlike the other, it can be used cross-platform. It tries to use virtual reality, blockchain and cryptocurrency to create a shared, cross-platform virtual world. The project aims to create an independently functioning economic system in the virtual reality world for players to get an immersive experience and be able to earn revenue in it, which is shared with the real world.


The Somnium Space metaverse has its own economy and currency system where users can build infinitely scalable worlds. By tokenizing the land and game assets on the platform (NFT), Somnium Space gives ownership of the assets to the users, thus separating the main company of the project, the game operator, from the ownership of the assets within the platform.

When blockchain dips into the metaverse: virtual and reality 'shake hands'

SomniumSpace official website Somnium Space’s platform token is CUBE. Players can use CUBE to buy land on the trading platform OpenSea, then design various buildings and import them into Somnium Space. Users’ virtual assets can be transferred to other ethereum-enabled platforms or liquidated at any time. The total number of CUBEs issued is 100 million, with a provisional offer price of $2.14, a circulation of about 12.76 million, a circulating market value of $27.29 million, and a current holding address of 1,151.


NonFungible data shows that as of June 16, Somnium Space’s last 7 days’ turnover is at $21,639, with a total historical turnover of $10.28 million and 3590 total transactions. On OpenSea, the turnover of Somnium Space is 20885.38 ETH, and the number of wallets involved in the transaction is 597.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/when-blockchain-dips-into-the-metaverse-virtual-and-reality-shake-hands/
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