The value of the blockchain in communication, fun, and advertising is expected to grow 26x by 2026 by 2026. $ 4.37 billion. This is thanks in large part to the growth of the metaverse, which relies heavily on the blockchain. Chains can well support metaverse startups, as well Solana, and Polygon, and Wakatta are coming – but who will offer the best combination of speed, safety, and low costs?
How the blockchain contributes to the growth of the metaverse
While metaverse -like locations can be created without a blockchain (Fortnite and Roblox are two models), the combination of smart contracts, signaling, and NFTs brings significant value. in the air:
1) Digital property rights: Metaverse objects such as avatars, virtual wearables, artworks, event tickets and so on can be published as NFTs and owned by the user independently from the site where they were created. It can be purchased on the blockchain for cryptocurrency, freely transferred to others, etc.
NFT technology is growing rapidly: for example, the new Wakatta blockchain will allow the creation of time -bound NFTs, changing their properties over time. For example, a brand can issue NFT messages to buy a small printer, when purchased, it will be a valid discount card for 3 months, and so on.
2) Verify unreliable information: connecting applications through a blockchain account to prevent unauthorized access.
3) Same availability for all: users from all countries can pay for items in the metaverse in the same languages, because transactions are processed in cryptocurrency and a bank card is not required. The user only has to pay the standard blockchain fee (from as low as $ 0.001 on Wakatta to $ 3+ on Ethereum), while brands aren’t worried about getting fees.
4) To vote in chains: users can participate in decision making as part of a decentralized organization (DAO).
Hold on to selecting a blockchain to build a metaverse dApp
A blockchain can support smart contracts and NFTs can control a metaverse dApp. There are some benefits to consider, however:
1) It can work. DLT product leader at Wakatta Alexander Rumyantsev says: ‘Imagine that a popular brand launches an unlimited time market and users rush to buy NFTs, creating thousands of transactions in the market. minute. A small chain will hold and dry, but a chain that can do 1000 seconds or more, like Wakatta, needs to be well protected. ‘
2) And koina. If users interact with the metaverse multiple times a day, there is no need to pay for each transaction. The chain should allow dApps to support payments for their users, the way Wakatta and Efinity are designed. Another example is the cost of getting smart contracts on the development side.
3) EVM compatible. A dApp for Ethereum or another EVM-compatible chain can be upgraded to another EVM chain without any problems. This allows projects to capture a wider audience.
Leading blockchain platforms for metaverse development
Wakatta is a new NFT-optimized L1 blockchain built with Parity Substrate, the same modular system used by Polkadot and Kusama. Wakatta supports the popular ERC-721 and ERC-1155 signaling standards, and can perform over 1000 operations per second (30 times faster than Ethereum) with trade fee equal to $ 0.001.
While Wakatta is EVM-compliant, it should be able to host NFT dApps built on BSC, Polygon, Avalanche, and other chains with minimal modifications. In addition, dApps running on Wakatta can be compatible with different protocols on Kusama and Polkadot.
Wakatta introduces three new NFT types: scalable, timeline, and text value. It can allow NFT sales on the chain, as well as the standard fees we mentioned. These improvements give dApp metaverse developers a new level of capability
Wakatta is set up as an NFT hub for fun and metaverse, and developed by the engineers of Sensorium Galaxy, a large metaverse platform that showcases real -world reality, AAA images and VR conferencing. .
It should be noted that the Wakatta mainnet has not been released, and the other blocks on our list are in progress. Before the mainnet is released, the platform will launch an enhanced testnet – a competitive platform for testers and testers, where fees will be paid for resolving problems.
Binance Smart Chain (BSC)
BSC was created by the company after Binance, the world’s largest cryptocurrency exchange. It dominates popular games such as Alien World, CryptoBlades, SecondLive, and X World Games; that is, in Q1 2022 50% of the top 10 blockchain games run on BSC.
At the same time, a BSC power of 160 tps is not enough to power the large metaverse dApps of the future, so projects need to consider the scaling method when choosing this system.
Polygon is an Ethereum scaling solution that can use itself as an L1 blockchain or as a basis for specific page pages. It dominates the Decentraland metaverse, and another major project, The Sandbox, will move to Polygon from Ethereum this summer. With an average interest rate of around $ 0.006 in June 2022 and a last trading time of less than 3 seconds, the popularity is clear.
On the other hand, Polygon and the projects built on it can be downloaded: for example, in August 2021 Poly Network was used for $ 600 million in subscriptions.
Solana has one of the largest NFT ecosystems out there and regularly performs about 2,000 operations per second. It hosts popular games and metaverse dApps such as StarAtlas, Solice, Afflarium, Cryowar, and Portals.
However, developers should be aware that building a metaverse in Solana can take up to 48 hours to complete the system, which can greatly disrupt dApp operations.
Efinity is an NFT and parachain game in Polkadot; he uses the same Parity Substrate project as Wakatta. Efinity was developed by Enjin, a popular blockchain game that has a partnership with Forest Knight and 9Lives Arena.
The popular GameFi platform CryptoBlades has been added to Efinity from BSC, revealing that there are a number of NFT games that extend from the older generation of chains (BSC, Polygon, Ethereum) to future chains. which is designed for NFTs, such as Wakatta and Efinity.
Other metaverse-friendly chains can be mentioned, such as Avalanche, Elrond, Flow, Aurora, and others. The amount of experimentation in the metaverse area will be so intense in the coming years that each chain on our list will be able to grow a metaverse ecosystem of its own. In the end, NFT- and metaverse-optimized chains like Wakatta are likely to win over mainstream chains, so dApp developers should consider new chains as an option.