Play In The Metaverse | CoinGape

How to play games in Metaverse?

Unlike today’s more common digital games, things in the metaverse happen in real time – no pauses, replays, or resets. In addition, high-speed Internet connections and powerful virtual reality headsets provide immersive experiences, including 360-degree views of the digital environment. Haptic gloves and jackets offer physical touch.

Some tech giants and investors see the meta version as the next wave of computing. It started with mainframes and then moved to personal and mobile computers.

Process

Play-to-earn games rely on blockchain technology as you can earn items as you play games. This can be in the form of crypto tokens, non-fungible tokens (NFTs), and through a process known as staking. Many of these games will reward you for your time by offering you digital assets.

Until now, most video games had a centralized economic model. The developers and publishers had rights to all items of the in-game economy and the right to distribute in-game assets as they saw fit. For example, if you owned skins or any items in the game. The developers had permission to enable them for you. But if they decide to shut down the game or remove any game elements that affected the item you owned. You would be having no recourse and the item or skin would be lost.

With the advent of the play-to-earn model, any digital assets you own in the game are empirically yours to do as you please. They can be sold on other marketplaces.

For example, in the game world of Axie Infinity, you earn tokens called SLP, which you can sell on exchanges for fiat or stablecoins.

Selling and trading

You can also sell and trade digital assets like land and weapons in the form of NFTs to other players on a dedicated market. Because these items would be tokenized, they are unique assets that cannot be replicated, and the token for these items is securely stored in a distributed ledger.

In the game called Decentraland, you can sell and buy virtual land. In a recent event, a piece of land on Decentraland was sold for a price of $1.3 million.

These assets are stored on the blockchain, so you don’t have to worry about their security. And these assets would be completely owned by you. Neither the publisher nor the developer would have any ownership rights. It should be noted that no games are truly “decentralized” as they still require the authority of the issuer to define, issue, and limit the asset that is ultimately traded as an NFT.