This New Crypto Will Be a Breakout Success During the Metaverse Winter – Here’s Why
The metaverse is a concept that has been thrown around for the past two years. So far, several companies like Facebook (now Meta) and Microsoft are pouring millions of dollars into embracing this new fantasy world before any other.
However, it seems the concept is grossly undermining the potential this new virtual space offers, and that is the idea of a digital twin.
Digital Twin Creates a Better World
The key idea thrown about in the crypto space is creating a much saner and more beautiful virtual reality – a world governed by edge-defining technology with everyone collaborating in real time.
However, the overarching belief has been that the virtual world would be the new home for human interaction and social community. In essence, the metaverse is expected to be an escape route to the current social issues and political upheavals the world is going through.
But it actually goes much more than that, as recent developments have shown. Instead of the world running to the metaverse as an escape pod, it can be a means to improve our physical reality.
To do this, a new ideology is slowly surfacing called ‘digital twin’ – a concept first practicalized by NASA, which serves as a dynamic virtual representation of a physical entity.
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In elitist definition, the digital twin is an individualized, personally customized, evolving aspect of a physical system. It evolves in the respect that it changes in real time according to the events or occurrences that befall its physical counterpart.
The digital twin concept is expected to be the true embodiment of the metaverse because it will be able to adapt in real-time to issues that affect its physical counterpart, and developers and creators will be able to gain detailed snapshots of what happens to their tangible counterparts.
Instead of focusing on entertainment and games, experts believe the digital twin concept would further increase the market potential of the metaverse due to its intrinsic ability to help solve many development bottlenecks.
A Digital Twin Already in Place?
The blockchain industry has become a catalyst for several key technological concepts. Besides breaking through the stonewall of corporate finance and enabling a community-focused value exchange, blockchain is rapidly redefining almost all archaic institutions.
One such is the health and fitness industry which is already primed for disruption. So far, users are giving without getting in return as the entire value chain is rigged to centralized entities to sell courses, make diets, and sign users up for personalized coaching – Nothing else outside the box.
However, using blockchain technology, a new crypto project, Fight Out, is radicalizing the fitness landscape.
Fight Out is a move-to-earn (M2E) and play-to-earn (P2E) concept that uses the metaverse to help people achieve their top athletic goals while earning on the side.
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— Fight Out (@FightOut_) March 10, 2023
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The metaverse concept has many people on the edge of their seats.
The Fight Out metaverse will be a series of virtual gym chains that will enable users to directly compete in challenges, workouts, and even engage in virtual combat with professional athletes in real-time.
What will underpin this system will be a ‘soulbound NFT avatar,’ which will perform the role of a digital twin.
An NFT stands for non-fungible tokens and essentially are rare and unique personal traits found on very limited items.
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— Fight Out (@FightOut_) March 9, 2023
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The soulbound NFT will be a digital twin in that all physical changes to their real-world owners will reflect on them. As a result, when a user works out, their NFT avatar reflects this.
In return for this rigorous physical exertion, users will be able to earn in-game currency called REPS, which will allow them to change their avatar’s attire and improve their virtual stats.
Alongside this earning potential, they also get to earn $FGHT, which is currently in presale. So far, $FGHT has raised more than $5.39 million, pointing to the excitement and buzz surrounding the project.
Digital twin ideology may still be a long way off, but it seems blockchain technology will become the catalyst for the actualization of the concept.
In the end, instead of humans running to the metaverse to escape their existence, this might become a tool to improve our physical surroundings and lifestyle.
Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.
