The Global Esports Federation has launched a metaverse council to “work on defining tangible metaverse development projects for our global community,” with the objective of becoming formally recognized as the governing organization for the esports ecosystem.
Blockchain professionals, NFT developers, and social media influencers will make up the council. “We’ve established the GEF Metaverse Council to cultivate ideas, voice, and shape to our metaverse reality; and to access the unlimited prospects for our entire worldconnected community,” said Paul J. Foster, CEO of the GEF.
The council will be chaired by Hugo Philion, CEO of Flare, a blockchain interoperability project. Flare claims to provide a “scaling solution for smart contract networks without relying on economic safety mechanisms,” according to its whitepaper.
Given his capacity to deal with cross-chain issues rather than being a single chain expert, Philion’s status as chair should give the council some gravitas. “Esports has infinite potential and a world of options for blockchain applications,” Philion stated.
What’s exciting about the Metaverse Council’s formation is that it’s allowing traditional gamers and web3 specialists to converse. There is currently a significant gap between the two. However, web3 has the potential to contribute significant value to the future metaverse and gaming. Items acquired in games can be used to reward players for contributing to the development of online communities.
To thrive, online multiplayer games like Dota 2, which is supported by the GEF, require daily active users
Users are an important component of the offers and should be acknowledged in some way. Users can swap in-game things for real-world prizes by converting them to NFTs. Gamers who aren’t interested in making money should be able to ignore the NFT aspect and continue playing without interruption. This is the gaming industry that will prosper. Gaming, and hence the metaverse, must provide value to its users. It cannot just enable people to earn because this is unsustainable economically.