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Metaverse December 8, 2022

Ten Metaverse Crypto Projects To Watch

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Ten Metaverse Crypto Projects To Watch

Everybody and their aunts are producing metaverses these days. While the tech is relatively new, a number of projects have already started to take off when it comes to number of users. Here are ten of the most talked-about metaverse projects.

Decentraland 

Decentraland is one of the most popular metaverse projects currently for a number of reasons. Once immersed in its metaverse, the user is able to buy his/her favorite brands, attend virtual events, play games, meet new people, build new business projects and even gamble.

Ten Metaverse Crypto Projects To Watch In 2023

Decentraland was built on the Ethereum blockchain network and is said to be user-owned. This means that those who immerse themselves in it, have plenty of room to create their own environment, avatars, marketplaces, digital infrastructures and applications. 

MANA, its cryptocurrency, is available on a number of crypto exchanges.

Axie Infinity (AXS)

Axie is a blockchain-based game that has enjoyed a lot of hype with the help of cute, animal-like characters and allows some players to also earn cash, while enjoying themselves. Some people have even found playing Axie a rewarding full-time job. 

It is powered by the Ethereum blockchain network and uses AXS and SLP as its currencies. Each of these have different purposes inside the game. The AXS or Axie Infinity Shards, are governance tokens. On the other hand players holding the AXS coins get to vote on the game’s future development plans, including updates and treasury balance use. 

SLP tokens or Smooth Love Potions are earned as rewards through battle or adventure mode. These tokens can be used to breed “Axies”. 

Ten Metaverse Crypto Projects To Watch In 2023

The Sandbox (SAND)

The Sandbox is a metaverse game built on the Ethereum blockchain network and is driven by original content creation as well as gaming.

It uses a 3D voxel approach that also allows its players to take full advantage of their imagination and create virtual worlds as they desire. In essence, anyone can build, own, and monetize their gaming experience using the platform’s native currency – SAND. 

This ERC-20 utility token is used throughout the entire Sandbox ecosystem, supporting all transactions and interactions. 

So far, users have created more than 70 million unique worlds and environments inside The Sandbox. This has led to the creation of a rather vibrant market of non-fungible tokens (NFT)s.

Apart from hosting content-building experiences, the platform also permits its community to build games, assets and applications on top of their land parcel.

Gala

The platform is blockchain-powered gaming platform where players can freely exchange in-game items such as non-fungible tokens. The Gala Network is supported by users, who operate Gala nodes from their home computers. Gala is home to a number of games focused on relationships, and is connecting players to games such as Mirandus, Spider Tank, Town Star, Fortified, and Echoes of Empire.

The game gives away some authority and ownership to gamers. By and large, this is mostly achieved through the game’s native digital coin – GALA. Its used on the platform for network governance, rewards and node operator incentives.

Sensorium Galaxy

This metaverse came about thanks to a collaboration of some of the world’s top artists, producers, and media companies and consists of several worlds. Each one acts as a hub that is dedicated to a different and unique set of experiences.

Of the hubs, its PRISM is the premiere and serves as the entrance into music and entertainment. In PRISM, immersed users will get exclusive VR performances by chart-topping artists. Through a combination of AI and VR technology, premium content is made available.

Ten Metaverse Crypto Projects To Watch

Sensorium Galaxy.

Another key feature of Sensorium Galaxy is its in-platform currency – SENSO – which is underpinned by blockchain technology to power a “fair, transparent and user-owned decentralized economy”.

The token is used for a variety of things ranging from creating new avatars to buying event tickets and developing original content.

The platform has since migrated from Ethereum to the Wakatta blockchain to ensure faster transactions (30 times faster than Ethereum,), make transaction fees cheaper at $0.001, and support a greater number of operations within Sensorium Galaxy’s marketplace.

In addition to that, the Wakatta also links the Sensorium Galaxy’s currency, SENSO, to the Polkadot ecosystem, creating competitive conditions for SENSO token holders.

Among other things the avatars will be AI powered (including some of the world’s first social AI DJs), metaverse music streaming, advanced social and game mechanics, extensive immersion and interactivity features. Time will tell how well  Sensorium succeeds.

Ten Metaverse Crypto Projects To Watch In 2023

Grainy Metahero.

Metahero (HERO)

This platform intends to introduce “ultra-realistic digital clones” using 3D-scan of user’s face and body, that users can customize and use across the metaverse activities.

Each 3D avatar features a realistic life-like body type and a “photo-realistic face” thanks  to Metahero’s 3D modeling partnership with Wolf Digital World (WDW).

The platform also allows users to scan one’s own body and mint the scan as an NFT for use in the metaverse.

The avatars can also be armed with different skills set and powers from a range of classes like Close Combat Specialist, Spellcaster, Mentalist, Enchanter, Elementalist, Range Combat Specialist and Assassin.

Users can arm their recruits by trading and selling their NFTs.

Somnium Space (Cube)

The 3D powered blockchain platform is replete with mind rattling experiences, and a chance to explore every aspect of the metaverse.

Newcomers to this metaverse might not find the quality of the graphics appealing, but its redemption is how the space lets users fully use their imagination, and customize both their avatars and the spaces around them. 

The metaverse prides itself as “an open, social and persistent virtual reality platform.”

Although most metaverse projects we have reviewed are mostly on the Ethereum chain, Somnium has adopted a multi-chain approach that also includes Solana.

Somnium offers an NFT Gallery, using VR avatars to attend VR concerts while dancing with a full-body tracking kit, “creating new NFT-based worlds” and experiences that others can enjoy as well. It’s metaverse economy is powered by CUBE.

Ten Metaverse Crypto Projects To Watch In 2023

Star Atlas, trailer footage.

Star Atlas

Star Atlas is a departure from cryptobacked metaverses. To all intents and purposes, it has a great storyline, a growing community and monetization opportunities. Star Atlas has its two tokens built on the Solana blockchain – ATLAS and POLIS. ATLAS, is pretty much a typical in-game coin that users can rely on to enter battles and explore different worlds as well as accessing the marketplace.

POLIS, allows users to experience what the developers say is the game’s “political intrigue” aspect. 

Players in the metaverse are in charge of making decisions about the game — and perhaps even outvote the creators.

Bloktopia

This metaverse is a skyscraper-themed VR project where users across a 21-story building can learn, meet new people, do business, and explore different activities.

The game relies on the participation and creativity of each user to complete the building. Bloktopia is looking to new ways to create content and income for users who choose to reside in the metaverse.

Browsing the chaotic Voxels world.

Cryptovoxels (CVPA)

This is another Ethereum-based metaverse with a Minecraft-like feel. The metaverse comprises a world of digital infrastructures and vast blocks of land that users can continuously build on top of.

Although its assets can be traded on OpenSea in exchange for ETH, Cryptovoxels has its own currency, Cryptovoxels Parcel (CVPA).

Users can elect to build inside their virtual properties, including adding posters, signs or audio tracks, or simply sell them. Cryptovoxels, one of the oldest metaverses, has also managed to build a large community, and for the newb it’s the perfect place to start out with its easily accessible browser-based, and very lively, metaverse.

/MetaNews.

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Image credits: Shutterstock, CC images, Midjourney.

Business

Meta Reportedly Defeats FTC to Receive Court Approval to Acquire Within

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Meta Reportedly Defeats FTC to Receive Court Approval to Acquire Within

Meta, Facebook and Instagram’s parent company, has reportedly won court approval for the acquisition of VR fitness app Supernatural’s maker, Within, after the Federal Trade Commission attempted to block the deal.

Also read: Lawsuit Filed Against Meta, Snap, TikTok for Mental Health Crisis

A US district judge, Edward Davila in San Jose California, “denied the FTC’s request for a preliminary injunction to block the proposed transaction” in a sealed decision on Wednesday, reported Bloomberg, citing a source familiar with the ruling.

Meta’s plan was to acquire Within and Supernatural back in October 2021, but it was blocked by the FTC’s complaint file to stop the deal. The FTC’s complaint was justified by saying Meta already owns a “virtual reality empire.”

Following the news, shares of Meta were slightly positive on Wednesday afternoon.

Facebook and The FTC also declined to comment with Bloomberg’s query citing the sealed nature of Davila’s decisions.

Push for Metaverse

The reported victory in this case may boost Mark Zuckerberg’s push towards the Metaverse. Zuckerberg’s Meta Quest 2 is arguably the best VR headset, even after a massive hike in its price last year.

Meta Quest Pro for $1500 and Meta Quest 3 are also in the company’s VR line-up, which has already developed VR spaces for work and play.

The Supernatural, developed by Within, was one of the first subscription-based services on the original Meta Quest.

Supernatural, a fitness app that features video instructors and motion-tracked workout routines, carries similarities to Meta’s successful fitness VR music game Beat Saber. Beat Saber was also acquired by Meta in 2019.

 Meta’s Dominance

A trial before the FTC’s administrative judge will start on Feb. 13. The FTC will also decide if it will continue with the case. Lina Khan, the chair of the FTC, was appointed by US President Joe Biden to bolster antitrust enforcement as a key principle of his administration’s economic policy. Hence, if this order stands, this loss to Meta will be a significant setback for Khan.

The FTC sued Meta back in July, arguing this acquisition would expand its dominance in the consumer VR market, highlighting its purchase of Beat Saber three years ago. The agency even emphasized that the addition of Within would even eliminate a “beneficial rivalry” between the two companies.

At the time, “the case was) based on ideology and speculation, not evidence, the idea that this acquisition would lead to anticompetitive outcomes in a dynamic space with as much entry and growth as online and connected fitness is simply not credible,” said a Meta spokesperson in a statement.

It’s still to be decided whether this will be the end of this story or not, as the FTC has declined to comment.

“Out of respect for the court’s orders, the FTC is not in a position to comment at this time,” FTC director of public affairs Douglas Farrar told The Verge.

Within would be the third start-up acquired by social media giants over the last decade if this case ends here and Meta purchases one more VR start-up. Previously, Meta acquired Oculus in 2014 before purchasing Beat Saber in 2019.

 

 

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AI

How AI Can Accelerate Metaverse Development

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How AI Can Accelerate Metaverse Development

Artificial intelligence (AI) is poised to accelerate the creation and development of the metaverse, with multiple companies including Nvidia, Google, and OpenAI creating AI-powered 3D tools.

The public is already familiar with chatbots and AI-image generators, both of which can be leveraged to speed up development cycles for the metaverse. Text-to-3D generators, among other type of 3D generators, accelerate that process still further, and empower enthusiasts to channel their creative urges in new arenas. 

The filling the metaverse problem

In the earliest days of the internet most users passively consumed the world wide web as they surfed from site to site. The emergence of social media empowered users to share their own content, and the internet experienced a cambrian explosion of information. 

Filling the metaverse means learning the lessons of the early internet all over again argues Rev Lebaredian, VP for omniverse and simulation technology at Nvidia. This time, however, ordinary people will need greater levels of assistance to create the content.

“We’re able to fill the internet with interesting stuff because everybody is capable of taking a picture, recording a video, or writing words,” said Lebaredian on January 27. “If we are going to create a 3D internet, then you absolutely have to have the people who are participating in it creating content as well, and the only hope we have of making that happen is if AI can help us.”

Nvidia holds the belief that AI and the metaverse are intrinsically linked, and that both rely heavily upon each other.

“Just as AI is crucial to the expansion of the metaverse, so too is the metaverse to the expansion of AI,” explains Gavriel State, director of the system software team at NVIDIA.

“Digital twins in the metaverse are providing physically accurate virtual environments that allow developers to simulate and test AI,” says State before concluding, “Generative AI is key to scaling these digital twins and virtual environments that will usher in a new era of AI and the metaverse.”

The here and now

Sean Ellul, co-founder of the 3D development studio Metaverse Architects, is a big believer in transformative potential of AI-generated content.

In a recent interview with TIME Ellul revealed how his own firm has incorporated ChatGPT into a multitude of everyday tasks including brainstorming creative ideas, writing code and composing texts for decks and emails. 

“I can’t stress how helpful this has been to us,” says Ellul who has gone all-in on AI, using it as regularly as most internet users use Google. 

Ellul also takes the process one step further by prompting MidJourney to create floor plans for buildings which he can then use a template for 3D models. It’s a process which would undoubtedly be a little too complex for the average person, but it’s a powerful time-saving technique for Ellul and his team.

Case in point, the following floor plan was created from the Ellul prompt: “create a floor plan sketch with measurements and dimensions of a house plan built on one floor including two bedrooms three bathrooms kitchen and living and a garden. Include furnishing.” 

AI floorplan

House floorplan created using MidJourney

Ellul also uses MidJourney to help him create virtual non-player characters (NPCs). In one example Ellul used 9 different female faces to create a composite image with MidJourney. The resulting image produced a fresh-faced nordic female with blonde hair.

Ellul then returns to ChatGPT to find out who this young woman is. Ellul prompts ChatGPT to “generate a backstory for a 24-year-old woman from a tiny village in a fantasy setting who works at an inn.”

ChatGPT suggests that the woman is named Elspeth, and that she, “worked as a farmhand, a blacksmith’s apprentice, and even as a barmaid in a bustling city town. But no matter where she went, she always felt like something was missing.”

Elspeth created by AI

Meet Elspeth

Tools to make it happen

The challenge for AI is to transform a character such as Elspeth from a 2D image and chatbot-inspired biography into a fully realized character in three dimensions

The field is not short of competitors who are creating tools to make that dream reality.

In November Nvidia announced Magic3D, a high-resolution text-to-3D image generator. According to Nvidia the tool is capable of transforming a text prompt into a fully-realized 3D model in 40 minutes.

In December OpenAI released its own 3D image generator called Point-E. Google also has its own text-to-3D tool, DreamFusion.

At the moment there remain limits to what these tools can accomplish on their own with significant human intervention and expertise in the fields of 3D modeling. The question, therefore, is how long until that is no longer true.

According to Nvidia’s Lebaredian a future in which every person can create their own virtual worlds with the help of AI assistants is not too far away.

“I would say ten years from now, I’m fairly certain that most people are going to be able to create high quality 3D content just by talking to the computer,” says Lebaredian. “And I’m bullish that it’s going to happen much earlier.”

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Education

Hiroshima Adopts Metaverse in Education

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Hiroshima Adopts Metaverse in Education
Whether you like it or not, it's happening.

The use of the metaverse is continuously increasing in different sectors, and now it has become a part of university classes in the city of Hiroshima, Japan. The universities of Hiroshima are using this technology as extracurricular activities and part of the classes as well, Japan Times reported.

Also read: Jobs In The Metaverse, Now and Tomorrow

The metaverse allows its users to create avatars to represent themselves while communicating with people from all around the world. Metaverse makes the user feel as if they are talking by looking into each other’s eyes, unlike Zoom and Teams.

Solving Absence Problem

Having such unique features, it has also become the solution for students who are absent from school but still want to attend classes.

“I was feeling distressed and depressed as I only had the chance to speak with my family during my absence from school,” said Noa, a 16-year-old first-year high school student from Hiroshima.

But the time has changed, she was able to participate in a program even while being absent from school through the use of a virtual setup.

“I could spend quality time while feeling relaxed,” she said after taking part in a program held last fall in a metaverse to support absentees from school.

Three people attended that program organized by a local group to make up for absent students.

Noa entered the metaverse as a female avatar with cat ears and travelled with other attendees to hear high school students share their experiences of being absent from school.

The virtual world, also offers a solution for those who hesitate to speak up in reality. It provides a platform where individuals can communicate without psychological barriers, as they feel more comfortable with others in the virtual world.

Hiroshima Adopts Metaverse in Education

“Students who were silent at first could make a presentation on a (virtual) stage in the end,” said Kenichi Okamura, 23, head of the group that organized the program. “I really felt the potential of the metaverse.”

The Hiroshima Prefecture board of education has partnered with the non-profit organization Katariba in Tokyo to offer metaverse-related activities as a learning option for students, per Japan Times.

University Classes in Metaverse

Not, just the bridge for the school absentees, metaverse has also became the topic of university classes in Japan.

“By looking ahead with neofuturistic perspectives, I wanted to try and see how the classes can be expanded,” said Hiroaki Kanoe, a professor of science education at Hijiyama University in Hiroshima, who taught parts of some classes in the metaverse last year.

Kanoe asked third-year students about how the metaverse can be utilized in education during his virtual seminar with them.

Kanoe was intrigued when his student became deeply involved in the discussion surrounding the use of metaverse in education. They even proposed having a virtual environment open during summer holidays, which could potentially reduce absenteeism.

“Compared with online classes, you can feel the presence of others as if you are in a classroom,” said Soko Hamaen, 21, a third-year student who attended a class in metaverse.

“I hope to explore the uses of the metaverse while making clear the purpose of what to do with the technology, instead of jumping at it only because it is new,” said Kanoe.

With the value of the industry estimated to be worth $13 trillion by 2030, the metaverse is being expanded into different areas of livelihood.

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