Key Features of Crypto MetaversesDesigners

Key Features of Crypto Metaverses

Designers of crypto metaverses have generally sought to distinguish their worlds from earlier iterations of metaverses in several key ways:

Decentralization: While early virtual worlds were owned and controlled by companies, crypto metaverses are typically decentralized, with some or all components of metaverse games built on blockchain technology. This means that blockchain metaverses themselves tend to diverge from the mainstream business structures and value extraction models of today’s gaming industry. The unique structure of blockchain games can open up more equitable engagement opportunities for participants. It also means that ownership of the metaverse itself is shared amongst its participants. Even if the original creators of the metaverse blockchain were to walk away, the game itself could continue to exist in perpetuity.

User governance: Crypto metaverses like Decentraland make use of decentralized autonomous organizations (DAOs) and governance tokens to help put their users in control of the game’s future, allowing them to drive changes and updates through voting. In this way, metaverses can be more than just crypto games — they can grow into entire societies with economies and democratic leadership.

Provable provenance: In-world items in crypto metaverses take the form of crypto tokens, such as non-fungible tokens (NFTs). Achievements and acquisitions in gaming environments can represent huge value to gamers. NFTs update the standards of in-game items with much needed transparency and access to asset markets. Because every NFT is unique, metaverse tokens and items can be coded to easily help prove the provenance of in-game user-generated content as well as NFT gaming assets.

Real-world economic value: Because crypto metaverses use crypto tokens and blockchain infrastructure, their economies are directly connected to the wider crypto economy. This allows holders of metaverse tokens, avatar skins, and digital real estate to trade them on DEXs and NFT marketplaces, commanding real-world value for their in-world investments.

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