Metaverse Hype Needs Real Product Success And This ‘Decentraland in Space’ Could be the Answer
The emergence of the metaverse has drastically changed how the world looks at human interactions, investment and work. Experts predict that innovation in this new sector could surpass the creative destruction associated with the internet while empowering the creator economy.
In the past few years, the Crypto metaverse has experienced tremendous growth with projects like the Sandbox, Axie Infinity, Decentraland and Internet Computer, among others, becoming competitive in the market.
Why the Metaverse Hype Needs Real Product Success to Stay Competitive
The metaverse has been predicted to be the future of crypto ecosystems, bringing forth a digital world without boundaries. However, some have termed its initial success a hype that must die down to pave the way for developing real products like RobotEra (TARO).
Big corporations and tech giants are all talking about the metaverse. Facebook, one of the leading social media companies, rebranded to Meta to align with its goals of building solutions that take every day human interactions to the next level.
Banks like Citi and JP Morgan have chimed in on the highly discussed topic, forecasting the possibility of the industry hitting $10 trillion by 2030.
The building blocks of the metaverse are nonfungible tokens or NFTs, which Dan Olson, a renowned YouTuber, believes need more structural details for long-term growth. In 2022 Olson reckoned that most NFTs could not do the things their creators say they can.
Traditional finance moguls like Warren Buffet and Peter Schiff have also downplayed the potential of the metaverse and NFTs saying, like crypto, they are a product of ‘speculation’ and may end when the bubble bursts.
Nevertheless, the metaverse will shape the next generation of internet users. Although the hype may die, developers must start creating real products. At the same time, bring down barriers to entry that keep the larger global population on the outside looking in.
“We believe the metaverse is the next generation of the internet — combining the physical and digital world in a persistent and immersive manner — and not purely a Virtual Reality world. A device-agnostic Metaverse accessible via PCs, game consoles, and smartphones could result in a very large ecosystem,” a report on the future of the metaverse by Citibank reads in part.
Meet RobotEra – A Metaverse Project Linking Virtual Worlds
In a vast alpha galaxy, you will find a planet called Taro. This beautiful world has gone through a cataclysm, culminating in the extinction of the locals and original robots for taking sides in a war.
A new reign is now in place, led by robots with the power of a human mind. Dealing with the sad reality of the aftermath of the war, they must use their special abilities to restore the planet’s former glory and bring up an advanced civilization for the future.
RobotEra is allowing members of its ecosystem to rebuild Taro in a Sandbox-style project. In other words, the team proposes a metaverse world with various assets forming part of the world.
Users will need robot NFTs, used as characters worldwide to acquire land and bring up assets like buildings and other key facilities necessary for a thriving modern society. Apart from building assets on the land, the citizens of the new world will be able to mine TARO, the ecosystem’s main currency, and create games to play in selected areas of the land.