npressfetimg-6208.png

Metaverse Explained: The Ultimate Cheat Sheet To Crypto Gaming Concepts – PRNewswire

Getting familiar with the concepts and terms present in the crypto space can seem intimidating, but once you’re aware of them, you’ll begin to realize just how often this language pops up in the real world. Here’s what you need to know.

What Is The Metaverse? 

The first-ever reference of a metaverse appears in author Neal Stephenson’s 1992 novel, Snow Crash. Since then, it has become a catch-all term that captures both virtual and augmented realities as captured and experienced on the internet.

The metaverse has gone through a wide number of iterations in popular culture. Most famously, social media company Facebook recently rebranded as ‘Meta’, referencing plans to build an online world in which people can communicate and interact using VR headsets.

The metaverse also has applications in the crypto space. Crypto gaming companies such as UFO Gaming reference the ‘Dark Metaverse’, a virtual space where players can come together to create their own clans, own and trade virtual land, and earn NFTs and cryptocurrency.

Crypto Cheat Sheet: Everything You Need To Know

Trying to enter and understand the metaverse is akin to comprehending a whole new universe, no pun intended. Here’s a cheat sheet to some of the most common terms you might come across, along with what they mean:

Altcoin: An altcoin is any alternative to Bitcoin, and can include market leaders such as Ethereum, to smaller fish that have relatively little value.   

Decentralized Applications (DApps): Decentralized apps refer to applications that get designed by a team of developers that then deploy them on a blockchain. These applications often allow you to carry out actions without intermediaries, and so you’ll find a lot of decentralized finance is carried out using DApps.

GameFi: The umbrella term used to describe the financialization of gaming. A combination of the words ‘gaming’ and ‘finance’, GameFi companies focus on bringing real-world value to virtual gaming enthusiasts.

Play To Earn (P2E): The phrase play to earn simply refers to a gaming model in which players are financially incentivized to keep participating. Companies such as UFO Gaming allow players to earn in-game assets in the form of NFTs, and exchange goods through their token, $UFO, allowing them to earn real-world cash while playing complexly designed games.

Token: A token is often representative of a denomination of cryptocurrency, and can be traded as an asset on the blockchain, for investment or economic purposes.

Non-Fungible Tokens (NFTs): Non-fungible tokens are units of value used to represent the ownership of unique digital assets, including digital art or any other digital collectible.

Future Plans: What To Expect From The Metaverse

The future of the metaverse is rich with possibility. The potential of a unified virtual experience opens up new opportunities for creatives, artists, and gamers, to democratize value and make new connections across the world.

Some estimate the potential value of the metaverse goes into …….

Source: https://www.prnewswire.com/news-releases/metaverse-explained-the-ultimate-cheat-sheet-to-crypto-gaming-concepts-301449243.html

Leave a Reply

Your email address will not be published. Required fields are marked *

Releated

npressfetimg-6330.png

N.F.L. Christmas Schedule: What to Watch For in Today’s Games – The New York Times

It’s not a misprint.

If you’re scrolling through your television listings on Christmas Day, you’ll see two N.F.L. games on the schedule, which could be a bit of a reprieve from the holiday meal and festivities (or from the slate of N.B.A. games).

One of the matchups, on paper, should be better than the other, but both games will feature high-profile stars, including Aaron Rodgers, the league’s reigning most valuable player, as well as Davante Adams, Kyler Murray, Myles Garrett and Jonathan Taylor.

Below is everything you need to know about the N.F.L.’…….

npressfetimg-6364.png

Warhammer 40,000 Finds New Fans During Pandemic Gaming Boom – The New York Times

Looks like it’s time to break out the games again. Though, if you’re one of thousands of people around the world who play Warhammer, you probably never put it away in the first place.

Warhammer 40,000, a tabletop game set in a dystopian fictional universe, is not new. But a pandemic-fueled frenzy for science fiction and fantasy games like Dungeons & Dragons has introduced it to a whole new group of players.

Often referred to as Warhammer 40k, the game is played on tabletop terrains with models that players assemble, modify and paint. The game itself requires a lot of arithmetic, as well…….