Tag Archives: mmorpg

How NFTs Have Become a Gateway Into the Metaverse

Only a few months ago, the term NFT was exploding all over the internet. Now to the latest trend, the skyrocketing prices for digital arts sold as NFTs- The Christie’s auction for digital artist, Beeple, coming to a close a few moments ago, the final bid, $69 million. $69 million. I think it probably means digital artists here to stay. Anybody in this sector has to admit that they were shocked by the size and the ferocity and speed that the industry evolved so quickly.

The number of wallets that were purchasing NFTs skyrocketed the number of transactions of NFTs, across the board skyrocketed. And the prices for many NFT artists also went up, but that came down very, very fast. Once red hot NFTs are now cooling off a bit. The secondary market for the majority of Beeple’s paintings today is down 90-95% from the peak, as is most NFT art.

But even more recently, NFTs had been on the rise once again.

And even with significant value volatility in NFT artwork, NFT collectibles like NBA top shot and NFT-based video games like “Axie infinity” have surged in popularity. The correction that kinda happened with the NFT art side is healthy. And what we’re gonna see come out of that now are projects that actually have utility, that will be able to affect a much wider amount of people. I think that’s where the excitement is. And many companies are betting that NFTs will enter the video game world in a big way, which if successful, could open NFTs to a massive new audience, and forever change the way we value digital objects.

We are in the process of an exodus from the physical world to these digital worlds that have been created over the last 20 years. And that continue to be created and where people are spending an increasing amount of their conscious time. You may have heard by now that NFTs stands for non-fungible token. But explaining exactly what that means can get complicated. So for our purposes, what you need to know is that through blockchain technology, digital objects, like a JPEG file or a virtual sneaker, or even a meme that you’d normally think about as being infinitely reproducible can now be made scarce.

So for example, if you’re resourceful, the video you’re watching right now could be downloaded from YouTube, and you could copy and paste it as much as you’d like. In theory, it is infinitely reproducible. Tokenizing or minting is the process you can go through via blockchain, where you can create a record of scarcity. In the blockchain, you can enter into a ledger that there are only 1,000 versions of this video or 100, or even just one. Taking something that was infinitely replicatable and giving it artificial scarcity.

And if you’re rushing out to try and download this video now, thinking you’ll make a quick buck, that’s not exactly how it works. Only the holder of the NFT and what are known as digital wallets can actually own the item. And they can choose to resell them in exchange for cryptocurrencies. But while we have seen some high sale prices, are buying these NFTs actually a good investment? I would hesitate to call NFTs an asset class, they are an asset.

In the same way that I would hesitate to call art an asset class, art is an asset. But for it to achieve an asset class, it really needs to be something that you can buy and sell, and buy and sell. This is Bloomberg’s art reporter, James Tarmy. So all you have to do when you think about the art market, and you think about the prices that are paid for these $10 million paintings, $20 million paintings, $30 million paintings, is thinking about what kind of liquidity you need to have to spend $30 million on something that you cannot resell anytime soon.

Sold!

There is not a line of people waiting to spend $30 million on the painting that you just bought. There might be one other person or maybe two other people, but that’s no guarantee that those two other people wanna buy that painting when you wanna sell that painting. And this is similar in the NFT space. The number of people able to spend large sums of cryptocurrency on NFTs is relatively small. And a lot of people became very interested in jumping on the bandwagon.

There was a world that was opened up to a general public that they didn’t know about. And that seems like a world of infinite possibilities. And so corporations suddenly started releasing NFTs. Charmin toilet paper released an NFT. I just got an email about Campbell’s soups first NFT.

And this isn’t just about artworks. This is also about the various NFTs that are connected to games and virtual worlds, and so forth. People are connecting houses to NFTs, they’re connecting physical artworks to NFTs, they’re connecting portions of an entire soccer team in a Mexican soccer league to NFTs. And then something weird started to happen, right? More people were making NFTs than buying NFTs.

So you had a lot of people trying to jump on a bandwagon that might not really have existed in the first place. And while the initial boom of interest did drive more people to participate in the NFT marketplace than before, those numbers are still relatively small. According to a 2021 report by nonfungible.com, weekly active wallets, in theory, the number of people who bought and sold NFTs in a given week peaked at only 40,000. And if NFTs are going to become the asset class of the digital future, the number of buyers and sellers in the market must increase by a lot.

There’s still a tremendous amount of friction. To get a Metamask wallet, to understand the idea of holding private keys, to engage with this world, it’s a process. This is Sam Englebardt. He’s the general partner at a venture business called Galaxy Interactive. They currently manage a $500 million fund investing in technology and content aimed towards the future of digital worlds.

I spend a lot of time these days, first, trying to just define what the metaverse is. And then make sure we’re all talking about the same thing, because I think we’re still quite a ways away from an immersive world like “Ready Player One,” being something that we all inhabit. Except for eating, sleeping, and bathroom breaks, whatever people wanna do, they do it in the Oasis. I think we are very, very close, and witnessing every day though, the exodus from a purely physical world to an increasingly immersive synthetic digital world that doesn’t look like one place we all go to, but it’s actually just the amalgamation of the different digital worlds that we experience on our various devices. And a lot of players are investing in this future digital world.

A recent Bloomberg intelligence report believes that the market opportunity for the metaverse could be $800 billion by 2024. And for Galaxy Interactive, one of their biggest investments has been in gaming. I don’t believe long-term that just by making something an NFT, it’s gonna be interesting enough to be all that meaningful unless you build some sort of a game or metagame into the process of collecting itself.

Merging NFTs with games has already seen some great success. One of the earliest breakout NFTs was “CryptoKitties,” cartoon cats that users can buy, sell, and even breed.

The NFT became so popular at one point that it clogged the entire Ethereum network back in 2017. And it continues to have an active community today. And one of the drivers of increased digital wallets post the NFT boom in early 2021 has been a game called “Axie Infinity.” These pokemon-like creatures are all unique NFTs that a user can buy into and level up by playing in a new business model known as play-to-earn. What could be better than a free game?

Well, how about a game that pays you to play it. So far, it’s allowed people in developing economies like the Philippines and Vietnam to earn real money through playing.

And now a team of veteran video game developers at Mythical Games are working on their first NFT based game, “Blankos Block Party.” With real toys in real life, the way to keep their value is you put them in a box, you put them on a shelf, you leave them there, but with “Blankos,” as you play with them, they get better. Most games, if you bought Spider-Man character or you bought a “League of Legends” skin, they’re virtual items.

They stay within that ecosystem. Once you buy them, you bought them, right? There’s nothing else you could really do with them at that point. And what we’re doing in a kind of experimentation with Blankos is players own them. They can sell these assets, they can level them up, and mash them up to create new ones and all that.

So it really gives the players a lot of freedom to build, play, and earn. This is Mythical Games CEO, John Linden. He sees games as a great means to introduce more people into the NFT and crypto world.

So one of the goals in Mythical was we really wanted to bring this concept of blockchain and NFT assets to the mainstream gamer, right? So maybe someone that doesn’t fully understand crypto and is not an investor in Ethereum, we really wanted to make sure that they could partake in this economy.

And his success in this space isn’t necessarily about having big headline grabbing single asset sales, but rather having a much larger volume of sales overall. We’re not thinking about it in terms of a $10 item is worth $1 million the next day. We’re thinking about it terms of a $10 item that becomes worth $25. And a $25 item that becomes worth $40. And a $40 item that becomes worth $75.

And those are still, if you think about it, those are amazing. They don’t sound sexy, but they’re amazing returns on investments, right? So we’re definitely thinking about it in terms of something that’s attainable. Something that the average consumer can actually partake in. Latest trades, $55, $20.

Not kind of a new fine art to were only a very few select people can actually see that appreciation because the numbers are just so ridiculous that you can’t can’t participate.

But growing the market for NFTs currently can come at some pretty large costs. Each transaction requires a ton of energy from computers all around the world, potentially resulting in increased carbon emissions. And although the Ethereum network is hard at work to reduce this overall energy consumption, it does remain to this day, too high to support a scaled version of this model. What we’re starting to see technologically now is the need to advance the underlying tech so that you can have a business around the purchase, and sale, and trading of objects that are $1, $5, $20, $50.

That’s partly why Mythical Games is using their own blockchain technology within their Mythical economic engine. But it’s also because they believe that creating and selling an NFT game engine will help create more NFT games in the future. What we set out to do at the very beginning was to build this economic engine to where we could ultimately have a lot of the top games in the world be able to access this type of technology, have the regulatory side covered, have access to marketplace tech. Things that normal game studios wouldn’t be building themselves.

We think that this type of economy will really permeate through every game type.

And honestly, I can see almost every game out there could have some version of this. But building the technology is only the first step to building value. Gaming also offers another important step in this process, community. Blockchain doesn’t make a game better. We kinda joke here that if your game sucks without blockchain, it’s gonna suck with blockchain, right?

What makes this technology powerful and interesting is the ability to ignite a community. And if you build the right community, then the things you own, digital objects in a lot of cases, will be valuable within that community and people are gonna wanna own them, and they’re gonna wanna trade them amongst each other.

We seen an amazing community formed around Blankos. And even before the game came out, we’ve had about $1 million of Blankos sold because players saw that value, and they collaborated with each other. And were excited by the outcome of where that can go.

For someone outside of the Blankos community, It might seem outrageous to spend $5,000 on a virtual doll. Just like for many, it’s outrageous to spend $69 million on this Beeple’s piece. Or for spending $120,000 on a banana duct taped to a wall. Value for things that have no use value is entirely the result of perception. A Picasso is just oil paint on canvas.

It’s worth nothing, it does nothing. It is valuable because we as a society have decided that it’s valuable. Could NFTs become a brief, weird piece of history? Absolutely.

Could they become an integral part of the way that we engage with each other and companies online?

Absolutely..

Read More: The METAVERSE Land Rush ╽META NFT Digital Assets

What is Decentraland MANA? The Metaverse of Crypto Coins

What is Decentraland? MANA

What is Decentraland? Mana is the Crypto Coin for this MMORPG Metaverse Virtual world sensation that is built on top of the Ethereum blockchain. We’re going to cover benefits of blockchain-based land ownership, the decentralized native MANA currency, and some of the more interesting real-world use cases for Decentraland. Let’s first go back to the beginning.

Decentraland development started back in 2015 with a 2D proof-of-concept, cleverly named “the Stone Age” MMORPG Game. The project has come a long way since then and in February 2020 it officially launched for the public. So, let’s see what this virtual world has to offer today and answer the question: What is Decentraland? Decentraland is a fully decentralized, 3D virtual MMORPG game world where people can own and develop their virtual land. MMORPG Gamers can also wander around and interact with what other users have created, as well as other people that are exploring Decentraland at the same time.

What is Mana?

Mana is the crypto token used for the MMORPG Game landscape and can include anything from static 3D scenery to interactive objects, buildings, art, games or massive events that attract thousands of users.

So while decentraland isn’t necessarily a revolutionary metaverse product.

If we dig a bit deeper and you can see how Decentraland brings a new paradigm to the virtual metaverse world. The world of Decentraland is divided into small fragments, called Parcels.

 Each Parcel is 16m by 16m, or for those not on the metric system, 52ft by 52 ft, and it’s the smallest piece of land you can own.

However, if you own several parcels next to each other you can combine them to create an Estate.

Who doesn’t want that? Furthermore, some large areas are allocated a specific theme and thus create a District. Genesis Plaza is the most notable example.

 Sitting at the center of the map, it’s a beautiful virtual plaza where you can learn more about Decentraland, its history, how to navigate it and what places are all the craze at any given moment.

 But I’m getting ahead of myself.

Decentraland

As I was saying, the land is divided in parcels. Each parcel is represented by x and y coordinates on the map and by a LAND token on the Ethereum blockchain. MANA is an ERC721 token, which means it’s non-fungible, or what we would call an “NFT” for Non-Fungible Token.

 it’s scarce and it’s a collectible.

In other words, each MANA token is unique and cannot be replicated or exchanged with another.

It holds the information of the land location in Decentraland, the x and y coordinates, along with the decentralized servers run by the community, holding the content needed to render it in 3D graphics for everyone to enjoy. And that’s the beauty of Decentraland, and what distinguishes it from other centralized digital worlds.

In these, the world is controlled by a single entity, who can change the rules as they desire, or censor you, or ban you.

 Or they could even go out of business, in which case you lose everything you’ve built.

But with Decentraland, the metaverse world belongs to the community.

And that goes one step further. Decentraland is “governed” by a DAO, a Decentralized Autonomous Organisation. And because it’s decentralized, it means that everyone in the community can participate and vote on the MANA coin proposals they want to adopt or reject.

 They also control the important smart contracts, the Estate contract, the Wearables, and the Marketplace.

Oh yeah!

There are fancy wearables which you can buy, you guessed it, at the Decentraland Marketplace. Even if you’ve never heard of Decentraland, you’ve probably seen MANA if you looked into the Crypto market cap. It’s the native token that fuels the economy of the decentraland ecosystem.

 MANA was introduced back in August 2017 through an ICO that gathered a little over $26 million dollars and its circulation started a few months later.

In January 2018 it saw its all-time high, reaching 18 cents, And that means the price is not at it’s ATH anymore.

now trading at around 5 cents. Still, that’s more than 100% increase over the ICO price As the native currency of the virtual world, it’s what you need if you want to buy LAND in Decentraland. In December 2017, early adopters were given the chance to purchase LAND in an auction, called the Terraform Event.

 Nowadays, you can buy LAND in the Marketplace, where some of these early adopters have put their land up for sale.

And like in real… real-estate location is key.

You can expect to pay a much higher price for an Estate that’s close to a hub that sees much traffic, like Genesis Plaza, and the larger the Estate is, of course. In fact, back in 2018, such an Estate was sold for $800,000 dollars! Besides LAND, though, at the Marketplace you can also buy fancy wearables that the community has created to dress up your Avatar.

 Because, although your Avatar doesn’t come into the world naked, let’s face it, fashioning a unique wearable that no one else has, is half the fun.

The other half is, of course, building up your land through the visual Builder tool, or the SDK (Standard Development Kit), if you’re programmably inclined, participating in the world, and interacting with other users through the built-in chat tool. Or inviting your friends for a virtual drink to your virtual house that’s called “Mia casa”, a clever name you bought at the Marketplace.

The possibilities are endless! If you don’t have any MANA but are already excited and want to dive in Decentraland, worry not!

 You can buy MANA in Exodus by exchanging other cryptocurrency assets.

Exodus is a cryptocurrency wallet for your desktop or mobile device. Home to more than 100 cryptocurrency wallets and other crypto apps, you can safely store, send, receive, and exchange your crypto assets with Exodus.

Click the link above to start using Exodus today! So, how do you immerse yourself in Decentraland gameplay?

 All you need is a browser, with Chrome or Firefox being the ones officially supported, running on a Windows or MacOS computer.

And although that’s all you need to visit Decentraland, in order to experience the world to its fullest, or buy your LAND and other collectibles on the Marketplace, you’ll also need an Ethereum wallet, like Metamask or Mist, loaded with some MANA and ETH.

You can spend MANA in the world too, to access additional content while rewarding its creators, and you’ll need the ETH to pay for the transaction fees.

And once in, what does the Decentraland gameplay feel like? Well, the world is VAST, it’s transversable and it’s certainly colorful.

 You can walk around with your mouse and arrow keys, enter buildings and interact with objects.

Or you can open the map and quick jump to any location that piques your interest. You can visit clubs, museums, casinos, parks, see digital art, take a ride in a ferris wheel or listen to music.

Or the sound of birds chirping. Or play games.

 But, the truth is the world feels kinda lonely.

The main reason is that Decentraland is in its infancy and only about 500 people log in each day.

Furthermore, these people might be logged in different servers, called Realms, which are also run by the community on a P2P protocol.

This means that even though you might be in the same place with other users, you may not be able to see them because they are connected to a different server than you. The best way to socialize with other users is probably by attending one of the many virtual events that happen in Decentraland.

 And you can find all of them in the link below.

What do you think? Is virtual real-estate the future?

And is Decentraland going to be the leader in this developing new market, a world on its own, buzzing with millions of Avatars? Are you a MANA hodler, hoping it will moon if this happens?

 Let us know at CryptoSwami.net

Read More: The Metaverse Land Rush ╽META NFT Digital Assets

Is Blockchain The Future Of MMORPG Games?

Is Blockchain The Future of MMORPG Games?

So you’ve probably seen the title of this video and thought to yourself in what way could crypto possibly have an effect on the future of the mmorpg games. Well to get to the point we think blockchain game developers will create their own crypto tokens as a way to fund gaming projects through crypto investors rather than crowdfunding platforms such as Kickstarter.

In doing this they’ll raise way more money and be able to create more ambitious blockchain MMORPG gaming projects. We think crypto gaming could lead to a new business model for MMORPGs in which blockchain games can be extremely profitable.

MMORPG Games

This MMORPG Crypto Gaming Review Video explains How crypto could be the future of the mmorpg games.

In almost every current blockchain MMORPG crypto game We’ve seen so far is complete garbage, most of them look two generations behind non-crypto games and somehow they have market caps in the hundreds of millions of dollars. Despite having very few players there isn’t a game that exists yet that uses the exact business model. I’ll be describing in this video number two people are going to hear the words in-game NFT in this video and start foaming at the mouth because they read an article about NFTs being bad for the environment.

Blockchain MMORPG NFTs

NFTs built on the ethereum network are currently bad for the environment but this is a temporary issue.

The reason NFTs are bad for the environment is that the if network still uses a proof-of-work mechanism to validate transactions and therefore has high gas fees associated with it. All new modern blockchains use proof of stake which cost less than a penny per transaction and if we’ll be upgrading to this system with ETH 2.0. The entire blockchain MMORPG NFTs are bad for the environment talking point won’t be a thing in the future problem. MMORPGs are extremely expensive to make and crowdfunding isn’t cutting it anymore.

Nobody trusts Kickstarter MMORPG and they can’t raise anywhere near the amount of money needed to create an MMORPG.

Crypto MMORPGs

How does Crypto help solve this? MMORPG development teams create their own capped total supply cryptocurrency tied to their game; this allows them to sell tokens like shares so people can invest in their project with the hopes of making a profit. If the game is successful unlike kickstarter your game isn’t funded by donations, it’s funded by investors and due to the nature of crypto.

Anyone can get involved Crypto MMORPGs with whatever amount of money they want to invest. The use of in game NFT gives value to the MMORPG Game Tokens. Let’s just take a look at some crypto games and how much they’re worth. Just to get an idea of how much investment there is in the crypto gaming space Decentraland a browser game where people can buy land and create their own space in the world it runs at like 5 fps. When you play it it’s hardly a game and it has nintendo wii graphics 1 billion to 1.

5 billion dollar market cap it was double that two months ago at its peak THE SANDBOX similar to Decentraland but not quite as bad 290 million to 1.2 billion dollar market cap within less than a year of their token being tradable.

My neighbor Alice basically a 3d farmville style game that seems to have launched its token with an instant market cap of about 400 million dollars on day one without a playable product literally a trailer and boom 2.3 billion dollars of trade volume for the token on day one.

MMORPG Games

Axi infinity to be fair people actually do play this game a lot in poor countries like the Philippines and Venezuela because you can earn 10 to 20 dollars per day from playing it but does this look like a game that’s worth 800 million dollars with a fully diluted valuation of 4 billion dollars. Last one alien worlds this project’s token launched like three months ago and in the first week had a fully diluted market cap valuation of 20 billion dollars. It’s since lost over six thousand percent of its peak value but still has 48 million dollars worth of trading volume every day.

Despite looking like one percent game 99 user interface so yeah hopefully that gives you an idea of how much money games in the crypto space are apparently worth. The sheer amount of people willing to invest in them and none of these games I’ve mentioned are even close to what I’d consider actual good games by today’s standards. So let’s get to the point how could crypto be used to fund an actual decent non-pay to win MMORPG.

CryptoSwami.Net

Let’s imagine I create a company called Cryptoswami.net and we want to make a WOW clone but in unreal engine 5 and design it more like WOW classic let’s call it Cryptoswami.net we’d start by designing one zone of the game two or three classes with up to level 10 abilities. After a few quests basically enough assets and content for a proof of concept short playable demo and a trailer for marketing this part of the process would be self-funded we would then create a cryptocurrency called cryptoswami token. When crypto swami launches its initial coin offering we would make these tokens available to be purchased by the community with 10 to 20 percent of the token supply reserved for the MMORPG development team.

 Those who are working on the game there would only ever be a total supply of 1 million CryptoSwami tokens in existence and these tokens would be used to buy capped total supply NFT cosmetics that you could wear in game. The problem I have with cosmetic cash shops in current MMORPG games is that there’s nothing special about the outfits. You’re not impressed or intrigued when you see someone with a cash shop cosmetic because anyone could buy one for like 20 but what if there was only ever 100 of that outfit in existence in a game with millions of players and it’s all of a sudden worth thousands of dollars. Think the swift spectral tiger from WOW or runescape’s party hats extremely rare limited quantity cosmetics mounts or pets nothing pay to win, we’d then create a cash shop that only sells these rare cosmetics that could only be purchased with our cryptocurrency cryptoswami.crypto.

One token once everything is initially sold out from the investor store where these in-game Nfts would be sold, players will need to trade these cosmetics between each other for crypto. In-Game NFTs of which the price would be determined by the game platform users. There’d be a one percent tax on every transaction between players that goes to the development team’s wallet. This tax on transaction would be a way to have positive cash flow for the development of the game after the initial public coin sale.

So let’s say cryptoswami.

crypto becomes as popular as a medium-sized crypto game such as my neighbor alice. This would result in a total trade volume of 15 million dollars on a slow day and as much as 100 million dollars on a good day with a one percent tax on transactions that’s 150k to 1 million. One million dollars per day worth of tokens sent to the development team’s wallet that could be then sold for usdt to pay wages; or used for marketing to further snowball the project with this amount of revenue.

There’d be very little need to add further monetization to the game it could be completely free to play in fact being a non-pay to win free to play MMORPG game would probably be for the best as the more players playing. The more money those limited quantity NFT cosmetics would be worth as there’d be rarer relative to the size of the game’s population.

 If you’re still not understanding me literally just imagine current world of Warcraft but it’s completely free to play, no subscription the cash shop contains only mounts and cosmetic outfits. However there’s only say 100 of each mount or outfit that can be in circulation in the entire game across all servers to buy these cosmetics. You need to spend a cryptoswami on token crypto of which only 1 million tokens exist.

Once the cash shop has sold out of these items and they’re in the players hands, the only way to obtain them is buying them on the open market. From other players every transaction that takes place using this crypto.

Read More: How NFTs Have Become a Game way to the Metaverse

Crypto-Games