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Next Big Thing: Connected Metaverses

By idiosyncratic | Idiosyncratic Crypto | 26 Feb 2022


Metaverses, also known as virtual lands or digital universes, are paving the way of new world with their blockchain integration, non-fungible assets and specific currencies.

Do you feel surprised when somebody suggest you to buy a land, plot or an item on a "metaverse" project because the prices are still cheap compared to projects like SandBox and Decentraland. Although the concept itself is revolutionary, people need to identify a real digital universe that has strong narratives behind.

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Metaverse on XYZ Chain

I think it is one of the most important point to be consider while investing into a metaverse project. The hype is still vivid on Ethereum and people prioritize having assets in Ethereum L1 than any new project that promises a brand new metaverse.

Actually, I believe there will be specific cycles in which metaverse projects will also go through like we experience in crypto cycles. In crypto, we see Bitcoin pumps, then some liquidity on top altcoins and finally the whole market skyrockets regardless of their project, devs or use cases 🐂

Metaverse Cycle may Come True

The reason why I think we will witness a metaverse cycle (prioritizing the prices and number of members) is that people want to accumulate as many Bitcoin and Ethereum as possible. As a smart contract platform, Ethereum has been acknowledged as a store of value like Bitcoin in the eyes of veteran crypto investors.

More Liquidity on Ethereum; more promising projects and the prestige of the blockchain will push Ethereum-based Metaverse projects by far outperform the rest.

Satisfaction Point in Ethereum Chain

When people experience unbelievable transaction fees for single action and the prices of metaverse assets become unaffordable the search for alternative chain metaverses will show up.

At that point, I expect Solana and Avalanche ecosystems to be the first ones to be chosen by metaverse enthusiasts. Seeing that the prices are low and the blockchain is feasible, the attention is likely to be on top 30 coins that can operate metaverse concept.

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MegaMetaVerse Era

The end point, the ultimate goal or the fuel of crypto. Whatsoever we may call this level, I assume that it will be the time when the way we work, live and engage will fundamentally change.

I expect bridges, multi side-chains and fungible tokens that can be transferred from one blockchain to the other within a second with an affordable transaction fee. At that point, any "metaverse" may compound its value since the value that is created on one of them will also have intrinsic value on another chain.

It will be like transferring your Adidas NFT from Ethereum to Hive with no problem. If this dream comes true, imagine how much value can Hive gain with free and nearly instant transactions to be spawn point for blockchain projects...

Until MegaMeta Century, I'm going to have an eye on Ethereum L! projects with crazy partnerships. However, it is better to be watchful for promising projects on the top projects, as well. My personal preference will be %70 Ethereum based; %25 top blockchains based and %5 other new projects (lucky strike 😅)

TL;DR

Metaverses are everywhere. We are living in the abundance of digital universes that own their money, assets and digital nations. Though all of these projects have value in themselves, I expect a Metaverse Cycle like we have in cryptocurrencies.

What I conclude from my observation is that there will be rush into Ethereum L1 metaverses until the point when people cannot operate transactions due to fees and the prices will be unaffordable for many people. Following that realization, the top projects with metaverses (e.g., SOL & Avalanche) may get some liquidity as the second phase of the cycle.

In the end, what I call MegaMetaverse era is the time when all these metaverses can be connected thanks to bridges and multi-chain operations. Until we get closer to these days, I'll prioritize Ethereum-based Metaverses to be in.

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idiosyncratic
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Crypto-Blogger 🖊Blockchain Gamer 🎮 https://read.cash/@idiosyncratic https://noise.cash/u/idiosyncratic1 https://leofinance.io/@idiosyncratic1


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