How the Future Metaverse Miner Ecosystem Will Be Integrated
The concept of the Metaverse was first proposed by Neal Stephenson in his science fiction novel Snow Crash published in 1992, but it didn’t become well-known until a film called Ready Player One hit the cinema. In that film, once wearing VR equipment, people would come to a virtual world called “Oasis” and interact or compete with players, characters, and superheroes from different dimensions. Most viewers believe it is the development of visual technology that makes the multiverse a reality. But actually, decentralized technology and economy are the keys to a more exciting multiverse. And we will be talking, of course, about the combination of Metaverse & NFT, the most popular topics lately.
In fact, Roblox, the world’s leading multiplayer socialized within millions of 3D virtual worlds game platform, which is known as the first stock in the Metaverse features. On March 10, 2021, Roblox listed on the NYSE, surpassing $40 billion in market capitalization on its first day. Roblox has attracted more than 7 million freelance game developers as a game creation platform, with a community of more than 18 million game experiences developed and up to 5.7 million people online simultaneously. But is Metaverse really not related to blockchain?
The mainstream view of the Metaverse definition must include five key elements, including a reliable economic system, strong social interaction with virtual identities and assets, a sedate experience and open creation. But once we mention virtual reality, the first thing that comes to mind is still “games” rather than our real lives. Both because: the assets of the virtual world cannot flow smoothly in reality. Even if you put all your energy into becoming the hero or the elite in the virtual world, the reality may still be poor. If the operator shuts down, the game assets, weapons, and performance that you spent money on will probably go up in smoke.
The blockchain, however, is a great solution to both of these problems. Blockchain is Decentralized; it does not require any authorization from any institution, is not controlled by a single institution, and does not depend on a single institution for its survival, allowing you to play and upgrade in the game with confidence.
In addition, any user can have the ownership and control of their own digital assets through the blockchain NFT (non-fungible token), without the permission or support of any institution. Preserve and consolidate what you have created in virtual reality. Precisely seeing this, Roblox, which firmly believes that the future of internet will be upgraded to a fully authentic internet, cooperated with China company Tencent (with a solid user base) to launch the Chinese version of ChainRoblox, which also highly integrates blockchain elements of NFT & DEFI.
The core of Roblox’ ecosystem is Robux, which is bought at a rate of approximately R$1=$0.01 and swaped at a rate of R$1=$0.0035. For example, players buy Robux and spend it through kryptonite (pay to win), UGC community (pay to cool) and other channels. Ultimately the developer gets a 20% cut and the platform gets a 55% cut. Thus, developers can exchange the in-game virtual currency earned by Roblox World for reality, which becomes highly incentive system for the platform.
Let’s take a look at another recent boom with a similar concept”Axie Infinity”.
• Axie’s economic system consists of two core gameplays currently: Battle and Breeding.
• Battle: Players can battle with their Axie team(3 axies) in Adventure Mode(PvE) or Arena(PvP),winning SLP(Small Love Portion token) as rewards. Top player on leaderboard will win AXS rewards each season.
• Breeding: Axies can be bred to produce new offsprings. New offsprings can be sold on the marketplace for revenue. Breeding will cost SLP and AXS token as expense. As the graph illustrates, Axie’s flywheel perfectly form a closed loop by three parties:Players, Axies(the NFTs), and AXS/SLP(the native tokens).
Outer Loop(Green line): the value flow from one to another in counter-clockwise direction. Players enter the game to buy at least 3 axies to form a team. The Axie team spend SLP and AXS to breed offsprings. AXS staked will get staking rewards when the function goes live. Inner Loop(Orange Line): represents value flow in clockwise direction. Players get proceeds from the selling axies on the marketplace and win SLP/AXS through battle. AXS and SLP also can be purchased on listed exchanges and AMM DEXes.
To conclude, the inner loop represents the value creation process while the outer loop shows the value consumption scenarios. Ultimate value inflow is players who buy axies and SLP and ultimate value outflow is the liquidation of assets.
To recap: a platform that relies on — and rewards — on user-generated content, thrives on shared immersive experiences, and is fun. Let’s see, which of those can also apply to Metaverse Miner system? Roblox has inspired us, such as attracting more reliable and interesting projects to work with and designing richer game scenarios. Axies aroused Metaverse Miner, using our native tokens as much as possible to generate more revenue and user engagement.
