Metaverse and Blockchain - Crypto Academy / S5W1 - Homework Post for @wahyunahrul
Hi steemians, greetings professor, I welcome you all to yet another frenetic and refreshing lesson based a growing and advanced system of blockchain technology known as the meta verse
1.)Do you think Metaverse is the next level of future technology?
The meta verse is a development that's meant to make way for apex digital interaction and just like several digital takeovers have happened, this is just one of such likeness.
Many years ago, jokes were being made of how we would be able to operate mobile phones /other mobile gadgets with our voices and today, it's an actualization with the use of softwares like Siri and Google voice. But in this context we're on the Meta verse that is meant to allow users of the internet have complete sense interaction with their selves using a tool called the Virtual Reality (VR).
In the sixth layer of Metaverse, we see decentralization showing that, blockchains are one of the future of Metaverse and NFTs solve the problem of ownership in it
The fact that Meta verse is the next level of future technology has escaped thoughts but is almost fact since a long time theory has become almost propounded in this recent times. More so, in the seven layers of the Meta verse, every part of digital technology is covered and this shows that there would be no exception to the use of meta verse. This, would be a great idea bought by every digital user.
There would more so be the creation of digital integrity and trust with this level of technology which has always been the heart cry of many digital users. More so through the Metaverse, earning would be made easier and better since tokens could be earned and converted on several exchanges.
Firstly it's no longer news that Google and Amazon are investing in tangible proof that Metaverse would work and just like the lesson shows, the Axies infinity is one of the few Metaverse projects already in existence and the fact that from gaming, users could be in thousands of dollars which they could convert at any time is a very big development and a green light to the Metaverse project
2.) Explain why Blockchain and Metaverse are compatible pairs?
The fact that Blockchain and Metaverse are compatible is as clear as crystal firstly, from the fact that in the several layers of Metaverse, Blockchains are present, and from the understanding of things, decentralization would be a feature of it too.
Payments that need to be made on Metaverse software would be made in decentralized currencies ie crypto currencies and as we know, blockchains are the direct back up of these tokens.
Secondly, activities on the blockchain like trading swapping, NFTs would be a while better, when they are done personally eg by avatars on the network and relatively, there would be proper efficiency and understanding of these
I can cap it all by saying that Metaverse is the future and blockchains too are the future therefore there would be a relational impact the two would have.
3.) The blockchainbased Metaverse project I would like to work on, and conduct a fundamental analysis on is the Enjin Coin.
The Enjin Coin, is the native token of the Enjin gaming website and was meant to give users /players of the Enjin gaming website incentives. In addition to this, the Enjin website isn't just for gaming.
On this platform, users can create their own digital tokens /assets and install them on the ETH blockchain after which they are advanced into video games and applications. In over 10 years of existence, they already have 20 million users
Present developments :
The major Metaverse renewal movement by Enjin could be seen in their support for the Metaverse system associates with a sum of $100 million after Facebook's show of rebranding and since then there has been a major add of about $1.62 to the previous $2 price before Facebook's announcement. Enjin expects a decentralized Metaverse and so the Efinity Metaverse is structured by the game creators and developers and the money would be used to develop Enjin system and Metaverse including other projects like NFTs, infrastructure etc
There is also a crowd loan going on with Enjin that earns every contributor of polkadot, a range of 7.5 Efinity Tokens to 9.75 Efinity tokens via each Dot contributed
Future efforts /developments:
With respect to the increased talks about Metaverse, Enjin would want to have a major part in it and would work as a launchpad for the Efinity Metaverse and would make way for NFTs completely and grant simpler and less costly transaction cost.
The Enjin token is valued at $3.69 at the time of this analysis and has a market cap of $3,084, 839,025 its ranked 89 too as of the coin market exchange with a trading volume of $1,702, 744, 599. It's maximum supply is 1,000,000,000 tokens and a circulating supply at 835,108, 660 tokens
4.) Connecting a crypto wallet with the Enjin Coin..
Its good a thing to know that the Enjin Coin has a wallet and the connection of this wallet with the platform is easy and done by :
- Firstly we download the Enjin wallet
- after we download we see options to open wallet or scan code we open
- We create wallet
- We enter into a platform where we see options of coins and then choose and create
- We are now in our wallet back ground
- We make choice to back up or not and then can use the wallet
5). Explore the Metaverse of your choice and show the various features, advantages, and other unique things of the Metaverse project. (Screenshot Required)
The Metaverse project I've chosen ie Enjin has several futures including low transaction fees cost, including the fact that users of this platform get to perform actions on the platform and get paid in crypto currencies which could be be converted to fiat currency and used for physical needs.
I'm in the Enjin platform now and I have to sign up since I'm a new user of the project and after that I explore the project as we can see that it's on the Ethereum main net and several features of it is shown too by the right hand side egDocumentation and GraphQL playground and in each of the following when u sign up you see
relative platforms to it
CONCLUSION
Honestly with just an introduction into the metaverse, I can still tell that there is more to be unfolded as regarding this topic as the topic is still being unfolded and I pray hopefully, we will all be benefactors of this great innovation.
The idea and conception has already been there long time ago, but I am happy that it is being brought to our homework post, regarding the blend with the crypto currency.
Thank you all for going through my post and for my professor for delivering an Excellent lecture
Cc
@wahyunahrul