WaykiChain’s New Endeavor: Exploring the Superior Tech + Metaverse Integration

Ready Player One sci-fi adaptation by Steven Spielberg shows us a grotesque yet fascinating virtual-gaming universe.

2018 Ready Player One movie

As the male protagonist puts on a VR device, he enters a virtual world. There, he turns into a hot racing king, battles with the villains physically and intellectually, and has the time of his life.

This year, the “metaverse” concept has been all the rage. Now, virtual worlds from movies can be recreated in real life.

What is a metaverse?

Generally, it is a virtual world parallel to the real world. Everything that can be done in reality can also be done in the metaverse. What’s different, users are not passive players as before. In a metaverse, they can socialize, play, create, and trade as per their needs, just like in real life.

Roblox, a game based on the metaverse concept

The metaverse hype started with the listing of Roblox, an online gaming platform.

On March 10, 2021, the world’s largest online multiplayer game creation company Roblox Corp. was directly listed on the New York Stock Exchange. Its market value has surged from the USD 4 billion valuation a year ago to over USD 44 billion.

Then, Chinese and international tech companies, VCs, and game studios followed suit trying to take a dominant position in the market. Some chose a different path. The visionary Internet giant Tencent became a shareholder/strategic partner of Roblox, the first “metaverse stock”, as early as in 2019.

However, the metaverse is still far from fruition and becoming a complete ecosystem. As of now, the commercial applications are mostly games.

Still, the upper limit goes far beyond VR games. The metaverse can be understood as the real world virtually mapped using VR and AR to achieve things impossible in reality.

Blockchain may become the key metaverse technology. In the metaverse, blockchain can build an infrastructure that bridges original identities and data without barriers and help create a new economic system using smart contracts.

For instance, some believe that NFTs within the blockchain will be the link that boosts integration between virtual societies in the metaverse.

Leader’s War NFT + gaming product by WaykiChain & Chongqing Mebius

NFTs are non-fungible or non-homogeneous tokens. Each NFT is unique and indivisible. NFTs are issued on a blockchain, therefore, they have a clear ownership history, a transparent quantity, and their transfers are traced. Initially, NFTs only have the above technical attributes. Any and all other attributes are subject to specific use cases.

NFTs are one of the best carriers of various digital-world assets.

The virtual-society metaverse can be accessed through online games. And NFTs can map real-world assets on blockchain and bridge real-world assets and the metaverse. NFTs can also serve as main carriers for the original metaverse assets.

The rise of metaverse has also led to the rise of the play-and-earn economy. Axie Infinity is a representative blockchain game. This NFT game world was inspired by Pokémon. Any player can earn AXS tokens for their superb in-game skills and contribution to the ecosystem.

Currently, WaykiChain is actively exploring its metaverse possibilities and works on an innovative model to combine the metaverse concept with its superior technology. Development of new formats from a concept to a real breakthrough does take quite a long time, but we will definitely see them when a real market opportunity arrives.