As blockchain technology continues to mature, one thing that’s simply not slowing down is innovation. In fact, currencies and encryption are only the beginning of what this disruptive new technology has enabled us all to achieve. Making the most waves in blockchain development nowadays is arguably the metaverse. Taking a step beyond the blockchain, and perhaps even a step beyond Web3 itself, the metaverse promises to realise a new frontier in digital interaction. The key differentiators? Decentralisation and ownership. While corporate giants such as Meta, formerly Facebook, are seeking to stake a claim in the metaverse as it’s built, the true value of blockchain technology means this is a digital realm firmly in the hands of businesses, communities and individuals.
As with any new technology, there is a great deal of speculation – and a touch of hyperbole – in many analysts’ evaluations of the true potential of the metaverse. Like the blockchain technology with which it’s built, there is so much scope and potential to this technology that it’s wise to approach it with a level head. Similarly, understanding the metaverse at a deeper level can help you to gauge the efficacy of this new technology as it relates to your business – or even your downtime. Let’s touch on the distinctive differentiating factors of the metaverse – areas of expertise in which Mangrovia can help you realise your vision in this next frontier.
The idea of digital worlds and downloadable items is nothing new. Many sceptics of the metaverse believe that this idea simply retreads old ground using blockchain technology – but that’s simply not the case. As exemplified in virtual worlds such as Decentraland and The Sandbox, the metaverse adds powerful blockchain capabilities to virtual reality. That means that ownership of assets and creations is locked into the blockchain and encrypted to the individual or corporate entity.
Contrast this with, for example, the current way in which video gaming works. A video game developer can create a game, release downloadable content for it, and then charge money for that content – which almost all goes to that same company. Popular games like Minecraft, Terraria, Dreams and others all host user-created content that is locked into that video game – and, legally speaking, is the property of the video game developer, despite having been created by an individual. With blockchain and metaverse gaming, that ownership is democratised. If you make a voxel-art character or vehicle in The Sandbox, for example, it’s minted onto the blockchain permanently – and is always yours. If you sell, share or monetise it, you earn SAND tokens. It’s a unique opportunity to engage with gaming that has never been experienced before – and one that Mangrovia can help unlock to your advantage.
The internet has revolutionised the way in which we share our creativity with the world. However, it has also facilitated piracy and the theft of intellectual property at a scale nobody could have ever imagined, even a few short decades ago. As already seen with NFTs all over the world, the blockchain has completely changed both the value of digital art, and the means by which it is displayed, collated and collected. This has likewise given creatives a much-deserved new means of monetising their work – something that the metaverse will only enhance to all new levels. More than an image or a soundtrack, the metaverse will enable enhanced interactivity with artwork of all kinds, See and hear it from whole new angles, display it proudly at a virtual location minted onto the blockchain, or send it to digital frontiers of every kind with ease.
Imagine an architectural development, rendered in 3D yet minted onto the blockchain as a property to be toured, shared online for contractors to work on or even included as part of a smart contract. Mangrovia is already assisting leading architectural minds in realising realities like this within the metaverse. This relates not only to property designs, but also to contracts and legal frameworks too. Understanding how to replicate and create these assets on the metaverse blockchain now is essentially futureproofing the business in question. Through the metaverse and blockchain technology, smart contracts can be created on the blockchain in ways that enhance privacy, seal in agreed terms that can never be tampered with, and can be ‘handed over’ to other users with the same gravitas as physical paperwork.
From the creation of our own Mangrovia Metaverse, to consultancy and design assistance services, Mangrovia’s blockchain expertise is close at hand to ensure you’re able to leverage the advances being made in the metaverse in your favour. Whether it’s advice on how to foster a meaningful presence in metaverse platforms like The Sandbox and Decentraland, understanding Mark Zuckerberg’s plans for revolutionising advertising and Big Data through Meta, or creating new frontiers all your own for creative, corporate or recreational goals, Mangrovia is establishing a specialist division devoted to helping you master the Metaverse.
Even the most advanced players in the technology world today aren’t always certain how best to approach the metaverse. In many cases, the most apparent ways of best profiting from the blockchain, and breaking new ground in metaverse product development, is lost in the hype and discourse surrounding the concept. Go from concept and research to active development and deployment. Mangrovia works with leading tech minds to give them the inside track on how best to align their technology’s goals and capabilities with the intrinsic advantages in security, decentralisation and trustless economics that the metaverse provides.
From leading architecture firms to the world’s most prestigious and forward-thinking fashion houses – Mangrovia speaks to leading creatives in making the metaverse a worthy forward direction for stunning works of all kinds. Utilising the full advantages of the blockchain, creative designs on the metaverse are free from being counterfeited, copied and redistributed via torrenting sites. This also avoids your work being placed under the ownership of unscrupulous corporations – who are often apt to pull the plug on promising creative projects before they can even get off the ground. Take back your creative power in the metaverse – and let Mangrovia handle the headaches of the technology that makes it possible behind the scenes.
Gamers today are tired of loot boxes, predatory downloadable content practices and big-budget studios who release half-finished products, despite overworking their staff. As with so much of the blockchain, the metaverse promises to bring a new and more democratic landscape for gaming – both for developers, but also for players. Never in this young entertainment medium’s history has the potential for players to earn online, champion your content and realise the full potential of virtual reality been so close at hand. Your player’s spaceship is their spaceship – a blockchain NFT, like their sword, potion, magic scroll or customised avatar. As the metaverse evolves, NFT objects from one game can seamlessly migrate to another – no fretting about copyrights, licensing fees or other bureaucratic headaches that crush creativity.
One hurdle that ecommerce has always faced is that customers are looking at images and reading descriptions of objects before buying them. Even the most in-depth video review of a product can’t replace the physical item in question – but the metaverse has the potential to do just that. Embedded in the blockchain, a metaverse store or catalogue of your products can be created that lets customers see a replica of a physical purchase as it would appear in the real world. A more confident customer is far less likely to return a product for it not meeting their expectations – and the online stores capable of reaching the metaverse first are going to be pioneering new ground in this regard.
Whether you have tremendous confidence in blockchain technologies, or are new to the metaverse but afraid of missing out on its ‘next frontier’ status, Mangrovia has specialists on hand to help. Our deep understanding of the ways in which the metaverse is helping individuals and businesses move forwards means that we are able to quickly evaluate and recommend the best-use scenarios of the metaverse to suit your needs. Our new specialist division is sustaining the same bespoke level of service that has already made Mangrovia a trusted partner in countless blockchain technology projects to date. That means you’re free to speak with Mangrovia for consultancy and advisory services, or to reach an agreement with our in-house specialists on more in-depth project development plans and deployment strategies. We can also help you to digitise, convert, optimise and prepare your business, assets and designs for metaverse implementation – and ensure the blockchain systems empowering that growth are swift, secure and intuitive to use. From designs and discussions through to full system integration, Mangrovia’s commitment to the metaverse is rock solid. Based on years of proven expertise in blockchain technology services and consultancy, the Mangrovia Metaverse is our next step into a new online frontier – one we sincerely hope you’ll join us in exploring!