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Demystifying Metaverse, NFTs and other crypto assets

Did you know that the term “Metaverse” was first used by author Neal Stephenson in his dystopian novel ‘Snow Crash’ (1992) to portray a virtual world? Cut to 2022, India saw its first-ever wedding reception in the metaverse on January 11. Punjabi pop singer Daler Mehndi performed live in the metaverse, making it the world’s largest concert by drawing 20 million spectators globally.

That is the power of Metaverse, a universal virtual world consisting of 3D virtual spaces based on social connection. The technology interests millennials and generation Z, who are bored with static internet pages and social media platforms.

Having experienced AR (Augmented Reality), VR (Virtual Reality), and MR (Mixed Reality), they are more excited about the 3D virtual world that provides real interactions and interesting visuals. Metaverse transports them to an entirely live and interconnected world.

Recently, Facebook rebranded itself as Meta and brought the technology to the mainstream by hiring 10,000 people. By creating a metaverse infrastructure, the company intends to transform itself into something futuristic.

Through the immersive world of Metaverse, users spend time socializing, learning, working, and entertaining, among other things. It is a blend of AR, VR, and MR. It has components of gaming, crypto, and social media embedded into it. For example, Metaverse allows its users to play online games on various avatars. Through VR headsets, they can enjoy an immersive experience that is delightful visually.

Non-FungibleTokens (NFTs)

NFTs are digital products such as art, music, and videos that can be traded by utilizing blockchain technology. Because they are non-fungible, unlike crypto tokens, there exists only one original of an NFT.

NFTs are distinct, having exclusive identifying codes. This is in contrast with most digital items, which are usually unlimited in supply. Removing the stock should ideally raise the worth of a given resource because of its popularity. But in the early days, numerous NFTs were digital creations that existed elsewhere. For example, famous video cuts from NBA games or securitized variants of digital art circulated on Instagram.

Although NFTs have been there since 2014, they started making news in 2021 when an online auction site Christie’s, saw an NFT of $69 million for a digital creation titled “The First 5,000 Days” by artist Mike Winkelmann aka Beeple. They also started making a buzz in the music world when artists such as Kings of Leon, Shawn Mendes, and Grimes released songs in the NFT format.

Since then, NFTs are making their presence felt everywhere, including in the gaming industry. Even something as intangible as a tweet by Twitter co-founder, Jack Dorsey, was sold for over $2.9 million in 2021.

It was his first-ever tweet posted on March 21, 2006. Dolce & Gabbana and Nike have designed apparel and footwear that come with their own NFTs.

The global NFT market size is expected to grow from $3.0 billion in 2022 to $13.6 billion by 2027, at a compound Annual Growth Rate (CAGR) of 35% from 2022 to 2027, according to ReportLinker.com.

But the question arises: Why are people eager to shell out millions of creations they could easily take a screenshot of or download? That is because an NFT allows the shopper to own the unique item. Moreover, the creation also holds an in-built authentication that provides ownership validation.

Crypto assets

These are digital assets that utilize blockchain ledgers to facilitate transactions. They use cryptography, shared networks, and distributed ledger technology (DLT). They can have various roles and features, including being utilized as a mechanism of trade, a method to store value, or for other business uses. When it comes to operations, crypto assets have no dependency on a national/central bank or government.


Common crypto assets include:

Crypto Coins:

This is a digital unit of value and a popular kind of crypto asset that is used to send and receive payments as well as international money transfers easily. They are extremely low-cost, effective, and faster than traditional methods.

India is gradually opening up to the idea of accepting cryptocurrency as a legit payment method. A Bitcoin trading site Unocoin, allows users to buy vouchers from over 90 brands via Bitcoins.

Unocoin’s registered users can use Bitcoin worth anywhere, between Rs 100 to Rs 5,000, to avail of these vouchers and buy anything from brands such as Domino’s Pizza, Baskin Robbins, Himalaya, and Prestige.

Digital currencies such as Monero, Zcash, and PIVX allow their users to make financial transactions that are 100% private and anonymous. This implies that individuals have the freedom to maintain privacy without having to reveal the reason for sending or receiving money.

Utility Tokens

Utility tokens allow users to perform transactions within a certain ecosystem. For example, the BAT token is a utility token that allows users to perform transactions on the Brave Browser.

Like all crypto transactions, Utility token transactions are verified on blockchain ledgers. The supplier of the products or services provides tokens that must be utilized within the supplier’s network.

Security Tokens

These are digital, liquid contracts for parts of any asset that have value, for example, real estate, a vehicle, or corporate stock. Using security tokens implies that investors’ ownership stake is safely preserved on the blockchain ledger.

Some examples of security tokens include Siafunds (used on the Sia Network for revenue sharing) and BCAP Tokens (these are Ethereum-based smart contract digital tokens launched in 2017).

Security tokens are usually sold or auctioned in an Initial Coin Offering (ICO) or an Initial Token Offering (ITO) that permits organizations to fund-raise to finance an idea. The business offers security tokens in return for government-issued currency or other crypto assets.

The security token also provides added advantages such as casting ballot rights, benefit-sharing, or profits.

Web3 is another technology that has evolved over a period of time. Born due to a lack of trust in the internet, Web3 is your answer to unfaithful social media platforms where you cannot keep anything private.

This next-generation internet allows its users to create, control and own their identity. With better tools, Web3 will allow its users and firms to create unique content. It will enable intelligent creation that is tailored to every user.

This would give rise to content distribution platforms that help in making Web3 profitable.

Moreover, personalization would make way for more content interaction, thus, allowing brands and their audiences to ideate new co-creation tools. As these new-age technologies continue to transform various industry sectors, it is an exciting time to see their impact on the future of businesses.

(The author is CEO, Zebpay. Recommendations, suggestions, views and opinions are his own. These do not represent the views of Economic Times)


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Investing in crypto-assets: How to limit the risk of being exposed to fraud

In 2017, thousands of investors in over 175 countries found themselves with empty pockets after having invested nearly USD 4 billion in a cryptocurrency called “OneCoin”. The mastermind behind the project, Ruja Ignatova, vanished with what is believed to be the entire amount missing.

This news item struck a nerve in the cryptocurrency world. The BBC even devoted a podcast to it. And while this case was one of large-scale fraud, the fact remains that fraudulent schemes are frequent in the world of crypto-assets, which includes cryptocurrencies (such as Bitcoin) and non-fungible tokens (NFTs). Possession of these tokens grants investors rights that can take different forms (either access to a good — like a work of art — a service or something similar to owning a stock).

I have been interested in the study of fraud for many years, first in my professional practice as an auditor and forensic accountant, then as a researcher. I am primarily interested in the factors that lead to fraud, as well as the indicators and impacts of fraud. More recently, my interest has focused on fraud related to crypto-assets, since these new technologies carry new risks and limitations that both users/investors and regulators face.

A 2018 report from a crypto-asset firm estimates that nearly 80 per cent of all initial coin offerings (ICOs) launched in 2017 — such as the issuance of new cryptocurrencies — were fraudulent. Of course, it is not possible to accurately measure the number of frauds that occur each year, not least of all because most are not reported to the relevant authorities. However, this alarming figure should still raise questions for potential investors about how to manage the risks they are taking.

It should be noted that crypto-assets are subject to little or no regulation around the world. Regulatory bodies such as Québec’s Autorité des marchés financiers and the Security and Exchange Commission in the United States, have been working on the subject for some time now, but regulation in certain areas is lagging. One reason for this is the decentralized and borderless nature of these investments, which makes the development and enforcement of laws and regulations particularly difficult.

Investing in crypto-assets falls under the purview of finance technology, commonly referred to as FinTech. The tools for investing in FinTech diverge significantly from those of traditional finance. Investors in FinTech are often driven by the search for quick gains, bordering on speculation.

The fact remains that signals of fraud — which have existed for a very long time in traditional finance, such as stock market investments — are also present in FinTech. One only has to think of promises of incredible returns, far beyond what regulated markets are generating. Or the pressure some financial product promoters place on investors to act quickly, which pushes investors to place their money without taking time to think through their decision.

This urgency is felt particularly by investors when a promoter plays on their fears of missing an incredible investment opportunity, thereby inciting them to put their money down quickly in order to beat others to the chase. A parallel could be drawn with promotions for products in stores that sell at cut-rate prices, while claiming that quantities are limited. However, in the case of investing, this often turns out to be a fraudulent scheme rather than an attractive opportunity.

The technological aspect of crypto-assets means that new indicators of fraud have emerged in its wake. Since these differ from what investors are used to hearing from those responsible for informing them about risks — including investment advisors — it is very important that investors pay close attention to the projects in which they are considering investing.

Indeed, the absence (or near absence) of regulation means that, for the time being, investors are solely responsible for protecting themselves against the fraudulent schemes that are rife in the industry. Some investment funds offer cryptocurrency exchange-traded funds. But the fact remains that these investments carry a risk of volatility.

As in the case of a traditional investment, the teams behind the ICO publish what is called a “white paper”. Similar to a prospectus for a public offering — when a company raises additional funds through a stock offering, for example — this document provides the potential investor with a wealth of information about the proposed project. Among other things, it explains how the project works and who the team is behind it.

However, the similarities with prospectuses end there because, unlike the latter, white papers are not regulated. An issuer can therefore show what it wants, and conversely, omit information that could prove useful to a potential investor.

It is important to note that for most projects, anyone can issue a white paper. But regulators strongly recommend that the entity in question be registered, not only to build confidence with potential investors, but more importantly, to ensure that the rules in place are being followed.

There are new signals of fraud that are unique to crypto-assets. We have seen white papers containing elements that contradict each other, incongruities or even errors in the name of a company behind a project. Some white papers are copied from other projects and quickly revised, leaving behind typos. It should be noted that as a general rule, an ICO is a unique project and a copy usually signals a fraudulent project.

Another indicator of potential fraud is a white paper in which certain passages are too complex to be easily read. This should prompt the potential investor to question the seriousness of the project. The primary purpose of a white paper is to inform an investor, so abstruse language should never be used for projects being presented as coherent.

What’s more, because of the technological complexity of the work involved, the team behind the project is especially essential to its success. So if the project documentation does not include a description of the team, whether in the white paper or on its web site, this absence should raise questions in an investor’s mind.

For that matter, it is usually quite easy to get in touch with the team behind an ICO in order to ask questions or obtain additional information about the project, which is not the case in traditional finance. If a potential investor cannot get in touch with the team, again, there is reason to question the seriousness of the project.

Encountering any of the signals of fraud discussed above does not necessarily mean that a project is fraudulent. However, recognising these signals will make an investor better equipped to manage the fraud-related investment risks that are particularly prevalent in the crypto-asset ecosystem.




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Bill Gates says crypto, NFTs are ‘greater fool theory’ type of investments

Not a fan of cryptos or NFTs, Microsoft co-founder and Billionaire Bill Gates dismissed cryptocurrency projects such as nonfungible tokens as shams ‘based on the greater-fool theory’ at an event on Tuesday, reviving past criticisms of digital assets. The greater fool theory suggests the idea that overvalued assets will go up in price as there are people who are willing to pay more for them.

“Obviously, expensive digital images of monkeys are going to improve the world immensely,” Bill Gates said sarcastically while speaking at an event in Berkeley, California hosted by TechCrunch, adding that he is neither long nor short on the asset class.

“I’m used to asset classes where they have output, or like a company where they make products,” Gates said adding that he is not involved with cryptos and also is “not long or short any of those things.”

Gates has criticized crypto before, sparring with Elon Musk last year over whether Bitcoin is too risky for retail investors and the environmental harm of mining coins. 

A broader crypto selloff was fueled this week by higher than forecast US inflation and the halt of withdrawals by the lending platform Celsius. Popular NFT collections, including the celebrity-favored Bored Ape Yacht Club (BAYC), are also being hit hard. 

The global cryptocurrency market peaked at $2.9 trillion in November 2021, but it has faltered so far this year. It has lost $1 trillion in value in the last two months alone as investors ditched riskier assets in the face of high inflation and fears that interest rate raises by central banks will hamper growth, and crypto has now fallen below $1 trillion in market value.

Gates also defended digital banking efforts he’s supported through his philanthropic foundations, which he described as ‘hundreds of times more efficient’ than cryptocurrencies.

In a ‘Ask Me Anything’ exchange on Reddit last month, the Microsoft co-founder revealed he had not distributed some of his wealth into cryptocurrencies. Gates further explained that he likes investing in things that have “valuable output,” arguing digital assets aren’t his cup of tea.

“I like investing in things that have valuable output. The value of companies is based on how they make great products. The value of crypto is just what some other person decides someone else will pay for it so not adding to society like other investments,” Gates said on the Reddit exchange.

 

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Michael Owen ‘breached UK law by promoting an unlicensed cryptocurrency casino on Twitter’

Michael Owen ‘breached UK law by promoting an unlicensed cryptocurrency casino in Twitter posts he was forced to delete – after controversially advertising NFTs which could not lose their initial value’

  • Michael Owen has reportedly breached UK law relating to gambling advertising 
  • The ex-England star promoted an unlicensed cryptocurrency casino on Twitter 
  • In May, Owen posted tweets advertising ‘Punt Casino’, which has no UK licence
  • The tweets have been deleted; Punt Casino website is ‘geo-blocked’ for UK users
  • Owen was also told by the ASA to delete a non-fungible token promotion scheme

Michael Owen has deleted tweets which breached UK laws on gambling advertising, according to reports. 

The former England, Liverpool and Real Madrid striker made two Twitter posts which promoted unlicensed cryptocurrency casino ‘Punt Casino’. 

And, as reported by The Athletic, the Advertising Standards Authority (ASA) has ordered Owen to delete his promotion of a contentious non-fungible token (NFT) scheme which broke rules about advertising cryptocurrency products.

Michael Owen has reportedly deleted tweets which breached UK laws on gambling advertising

Michael Owen has reportedly deleted tweets which breached UK laws on gambling advertising

The former England, Liverpool and Real Madrid striker made two Twitter posts which promoted unlicensed cryptocurrency casino 'Punt Casino', which does not have a UK licence

The former England, Liverpool and Real Madrid striker made two Twitter posts which promoted unlicensed cryptocurrency casino ‘Punt Casino’, which does not have a UK licence

On May 16, Owen took to Twitter to promote Curacao-registered Punt Casino, which does not have a UK licence.

UK law dictates only firms approved by the UK Gambling Commission can be advertised to UK customers.

The tweets have since been deleted by the 42-year-old, and Punt Casino’s website has reportedly been geo-blocked, meaning those in the UK cannot access the website. 

A spokesperson said: ‘Punt Casino is a fully licensed Curacao casino operating under the rules and regulations associated with that license. 

Owen also came under heavy fire for encouraging people to invest in his latest NFT venture

Owen also came under heavy fire for encouraging people to invest in his latest NFT venture

His controversial claims that they cannot lose their value have provoked widespread scrutiny

His controversial claims that they cannot lose their value have provoked widespread scrutiny 

‘We do not target or promote our casino to customers of any countries and/or jurisdictions not allowed by such license… Punt Casino takes its responsibilities as a legitimate and licensed casino operator very seriously.’

Owen has said about the company: ‘I’m a strong believer in the power of crypto, so teaming up with an innovative platform like Punt Casino feels like a natural fit.’ 

Punt Casino, based on the Caribbean island of Curacao, accepts cryptocurrency like Bitcoin and Ethereum as payment.

Andrew Green, also involved in the project, said 'we cannot guarantee or say... you cannot lose'

Andrew Green, also involved in the project, said ‘we cannot guarantee or say… you cannot lose’

Owen has been accused of 'encouraging people to invest hard-earned cash in risky assets'

Owen has been accused of ‘encouraging people to invest hard-earned cash in risky assets’

This is unusual in the UK because the gambling regulator says the practice has sizeable risks of criminal activity, for example money laundering.

Owen was also told by the ASA to delete a tweet advertising NFTs, which courted controversy due his claims they were ‘the first-ever that can’t lose their initial value’. 

A spokesperson for Owen said the case is now closed after he removed the tweet.

He appeared to believe the NFTs contain code which means it cannot be sold for less than it was bought for – but if someone buys one and the price goes down, the customer reportedly cannot cut their losses by selling up – so they lose the whole amount they paid. 

WHAT ARE NFTs?  

What is a NFT? A Non-Fungible Token (NFT) is a unique digital token encrypted with an artist’s signature and which verifies its ownership and authenticity and is permanently attached to the piece.

What do they look like? Most NFTs include some kind digital artwork, such as photos, videos, GIFs, and music. Theoretically, anything digital could be turned into a NFT.  

Where do you buy them? At the moment, NFTs are most commonly sold in so-called ‘drops’, timed online sales by blockchain-backed marketplaces like Nifty Gateway, Opensea and Rarible.

Why would I want to own one?  There’s an array of reasons why someone may want to buy a NFT. For some, the reason may be emotional value, because NFTs are seen as collectors’ items. For others, they are seen as an investment opportunity similar to cryptocurrencies, because the value could increase.  

When were NFTs created?  Writer and podcaster Andrew Steinwold traced the origins of NFTs back to 2012, with the creation of the Colored Coins cryptocurrency. NFTs didn’t move into the mainstream until five years later, when the blockchain game CryptoKitties began selling virtual cats in 2017. 



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How Nft Trends Are Changing The World Of Investments

The exponential expansion of non-fungible tokens (NFTs) in 2021 was due to a variety of factors, one of which was the unpredictability and universality of new technology adoption.

Though rise in the value of Ethereum may seem like excellent news for investors who believe the value of NFTs will increase in the long term but NFTs carry a high level of inherent risk.

But what are NFTs, again?

To assess the real impact of NFTs on investments as well as the future of investments, we need to understand what NFTs are. They are non-fungible tokens, many would repeat with a long sigh of frustration, in the same breath forgetting, as they go on to click on another quirky image on a peer-to-peer platform, that they are more than just JPEGs.

NFTs are crypto assets that represent a digital item like an image, video, or even land in a virtual universe but the emphasis lies on “represent” here. NFTs, as blockchain tokens, only certify that you are the only owner of that one-of-a-kind digital thing — regardless of what it is.

The future of investments with NFT in the picture

NFTs are offering new ownership opportunities and remixing old ones, but they might be heading towards a “bubble.” Their commercialisation is restricted to a trusting and courageous few. This means that unless the NFT marketplace becomes more accessible to the general public, it won’t be extensively embraced, restricting its promised potential.

The actual value of NFTs lies in the smart contracts on the blockchain technology that powers them. That is why it’s important to look at the big picture because even if the demand for NFTs declines in the future, they may still stay around at least in the near future. The frequency of use might decrease, but the more general applications of NFTs, because of the smart contracts that drive them, will continue to be compelling.

Even so, average retail or individual investor should stay away from NFTs for now unless they only want to invest in them for the artwork and don’t care if they lose their money. I recommend doing it in a risk-free manner by investing only what you’re willing to lose, or avoiding it completely if it would interfere with other financial goals.

In short, whether it’s ten dollars or a hundred, don’t put any money into NFTs that you can’t afford to lose. Cryptocurrency is still another matter; it can occupy up to 5 percent of the investors’ portfolio in the current scenario but that won’t change the position of NFTs.

The investment world is peeling open like fruit right now, it has all the freshness and fragrance of a post-pandemic boom. NFTs may be playing an alluring part in it now but it remains to be seen how relevant they will continue to be in the future.

The author Andesh Bhatti is an Angel Investor facilitating and enabling the future of a technology-driven world. Views expressed are personal.


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Blockchain Gaming Company Announces Second ICO

Dover, DE, April 07, 2022 (GLOBE NEWSWIRE) — MetaBlaze officially announced the opening date of its second ICO phase, set to begin on April 20th at 9 am EST. This presents a final opportunity to purchase MetaBlaze (MBLZ) at lower entry points before listing on cryptocurrency exchanges. In addition to buying MetaBlaze (MBLZ) at lower rates, buyers are also rewarded with a 5% token bonus. During this ICO phase, MetaBlaze will also release a collection of high-quality MetaGoblin NFTs that provide a variety of utilities.

NFTs produced by MetaBlaze are based upon the in-game characters within its upcoming Play-to-Earn game. The NFTs are fascinating and boast life-like, hyper-realistic 3D details. NFTs developed by MetaBlaze undergo an extensive creative process which you can get a behind-the-scenes look at in this two-minute video published on the MetaBlaze YouTube account. 

Nearly three weeks ago, MetaBlaze successfully reached its $1.5M hard cap during the first phase, officially bringing the ICO round to a close in a considerably short amount of time. Community growth is perpetual and continually increasing as more crypto enthusiasts learn about MetaBlaze.

What’s an ICO?

Many people believe that the best time to buy into a cryptocurrency is during its ICO, or initial coin offering. This is when the virtual currency is first offered for sale to the public and usually takes place before it is listed on any public exchanges. There are several reasons why this can be an ideal time to buy tokens. First of all, you often buy at a discount during an ICO. In addition, you may also be rewarded with a token bonus for being an early adopter. Finally, holding tokens from a successful ICO can position you to see significant value increases once the currency launches on public exchanges.

Experience optimal Web 3 Earnings

MetaBlaze is a blockchain-based gaming company designed for the Metaverse. The company merges GameFi (Gaming Finance) with DeFi(Decentralized Finance) to capture the most exciting elements of web 3 technology. Differentiating MetaBlaze is its multifaceted ecosystem equipped with numerous value-added utilities. These utilities are designed to work in tandem with one another, providing continuous revenue to its economy. The thoughtfully designed ecosystem maximizes usability for gamers, non-gamers, and aids in the development of a robust foundation required to optimize scalability and long-term sustainability. Other value-added utilities worth noting include: BlazeChain, a Metaverse specific Blockchain, virtual Real Estate, reward earnings, staking, and a marketplace that allows users to buy and sell digital assets. For more details about MetaBlaze or register for the ICO visit the MetaBlaze Website

* * *

About METABLAZE

Designed for the Metaverse and Web 3 technology. MetaBlaze is a blockchain-based gaming company with a multi-chain cryptocurrency token, MBLZ, built on the Binance Smart Chain, and the Ethereum Blockchain. MBLZ is audited by Certik, a leading Blockchain Security Company.

More info:
Website: http://MetaBlazeToken.com

Twitter: https://twitter.com/meta_blaze
Telegram: https://t.me/meta_blaze




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Meta Seemingly Creating ‘Zuck Bucks’ But It’s Not a Cryptocurrency

Meta (formerly Facebook) had once planned to launch its own cryptocurrency named Libra. While the Libra project has faded below other projects like the metaverse, the company has not given up on the whole blockchain space with its metaverse and NFT plans for Facebook and Instagram. According to a report in Financial Times, the Facebook parent company is working on a virtual currency that the employees are calling “Zuck Bucks,” named after Meta CEO and founder Mark Zuckerberg.

According the report, Zuck Bucks are unlikely to be a cryptocurrency. It says that Meta is leaning towards in-app tokens that will be centrally controlled by the company, similar to those used in games like Roblox. The popular children’s game Roblox has an in-game currency named Robux and the gaming company has built a huge business selling Robux. The Instagram parent company may try to emulate some of that success on its own platforms.

ALSO READ: Facebook Owner Meta Briefly Blocks Hashtags Tied to Bucha Killings

The report in FT, citing a memo, says that Meta may be planning to launch a pilot for posting and sharing NFTs on Facebook in mid-May. Soon after, Meta will test allowing membership of Facebook groups based on NFT ownership and another for minting NFTs. Zuckerberg announced in March that the company is bringing NFTs on Instagram as well. Further, the report says that Meta is exploring “social tokens” or “reputation tokens” which could be issued as rewards for meaningful contribution in Facebook groups.

In a statement to The Verge, a Meta spokesperson said that the company has no update to share as of now, but it continously considers new product innovations for people, businesses, and creators. The spokesperson also stressed on the company’s focus on building the metaverse as of now.

ALSO READ: Meta Says COVID Booster Shots Not Needed for Employees in U.S. Offices

WATCH VIDEO: Why Smartphones Are Becoming Expensive In India, Explains Xiaomi India COO Muralikrishnan B

This means that we will have to wait to find out what this Zuck Bucks project will bring – if it will be a cryptocurrency only or an in-app token, as predicted by the Financial Times report.

Read all the Latest News , Breaking News and IPL 2022 Live Updates here.


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Blockchain-Gaming Company, MetaBlaze, Closes First ICO

Dover, DE, March 29, 2022 (GLOBE NEWSWIRE) — MetaBlaze announced its first ICO round (Initial Coin Offering) officially closed Friday, March 25th, after successfully reaching the $1,500,000.00 hard cap. MetaBlaze is now preparing to announce the opening of its second ICO round with a hard cap of $2.5M; another opportunity to buy in at discounted rates before listing on public cryptocurrency exchanges expected during the second quarter of this year. Presale participants not only benefit from the lower entry price point but also receive a 5% token bonus when purchasing MetaBlaze tokens (MBLZ) during the presale.

 MetaBlaze is a blockchain-based gaming company designed for the Metaverse, merging GameFi (Gaming Finance) with DeFi and capturing the most exciting elements of web 3 technology. GameFi is a category within the crypto space that allows for financial transactions within blockchain-based Play-to-Earn games. GameFi’s disruptive model is revolutionizing the traditional gaming industry by combining blockchain technology, gaming, cryptocurrency, and NFTs to create the newest gaming experience. Play-to-earn is a new dominant gaming model. Instead of just winning or losing, you’re now able to get paid in crypto for engagement, fully own all your digital assets, and even trade them for other cryptocurrencies.

 All Eyes on MetaBlaze and For Good Reason. 

Rising in the spotlight in recent weeks, MetaBlaze has become one of the most highly anticipated cryptocurrency projects of 2022. MetaBlaze is one of few crypto companies that really stand apart from its competition, especially within the GameFi subcategory. Its features are what set them apart, appealing to people all across the world who want more than just another gaming cryptocurrency with no use case outside of its game. 

 What is so different about MetaBlaze? Blockchain gaming needs high-level 3D graphics, and MetaBlaze is bringing it, as seen on the official MetaBlaze Instagram account. They are also bringing passive yields to the Metaverse, and mind-blowing NFTs based on in-game characters with hyper-realistic features. The NFTs developed by MetaBlaze undergo an intricate development process that includes hand-sculpting each character, followed by hand-painted portraits before their digitization. Aside from the aforementioned, MetaBlaze is unlike any other GameFi crypto company in the space because it has something unique that differentiates them from others. Instead of just being another blockchain-based gaming company with NFTs and a digital currency, their approach focuses on creating a multifaceted ecosystem fortified with various value-added utilities designed to work in tandem with one another and provide continuous revenue to its economy. The thoughtfully designed ecosystem maximizes usability for gamers, non-gamers, and aids in the development of a robust foundation required to optimize scalability and long-term sustainability. 

The MetaBlaze Ecosystem includes:

To learn more, visit the MetaBlaze Website or join the public MetaBlaze Telegram channel and chat directly with the core team.

* * *

About METABLAZE

MetaBlaze is a blockchain-based gaming company with a multi-chain cryptocurrency token, MBLZ, built on the Binance Smart Chain and the Ethereum Blockchain. MetaBlaze is designed for the Metaverse and Web 3 technology.

For More Information:

Official Website: http://MetaBlazeToken.com

Follow on Twitter: https://twitter.com/meta_blaze




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