• Is Self-Building Worlds the Future of the NFT Metaverse?

  • The term ‘metaverse’ has recently become popular in the cryptocurrency community, owing to the success of immersive virtual projects such as Decentraland and Iluvium. The term “metaverse” refers to a vast ecosystem of frequently interconnected virtual environments in which players can interact with one another, explore parallel digital worlds, and buy and trade tokenized collectibles with real-world value.

    In fact, the term “metaverse” does not come from crypto – it comes from Neal Stephenson’s 1992 sci-fi novel Snow Crash. Three decades and a raging pandemic later, the metaverse concept is gaining traction as a variety of virtual experiences, many of which are built on blockchain rails, become available.

    Even Facebook, the world’s largest social media company, is attempting to gain a market share, with Mark Zuckerberg claiming that “we will effectively transition from people seeing us as primarily being a social media company, to being a metaverse company.”

    Create Your Own Metaverse

    Planet Sandbox, a metaverse project developed by The Minders Studio and backed by over a dozen venture capital firms, enters this rapidly changing environment. Planet Sandbox, which is currently preparing for an IDO on October 2, shares many of the hallmarks of existing metaverse games – the lurid vistas, varied terrain, and coveted collectibles – but introduces new features, most notably the ability for players to build and customize their very own sandbox worlds.

    In practice, what does this mean? In essence, players have access to a toolkit that allows them to customize every aspect of their universe, including weather, topography, and even gravity. If this reminds you of the plot of Christopher Nolan’s Inception, you’re on the right track. Only Dom and Mal’s worlds were never monetized…

    Once built, domain owners can set the rules for games that take place within their boundaries and invite players to participate. Both the land and the collectibles contained within it can be leased or sold in exchange for cryptocurrency, incentivizing designers to create the best, most profitable sandboxes in the expanding metaverse.

    Planet Sandbox is, at its core, a play-to-earn game – the type that gave rise to the term “gamefi,” which refers to projects that combine gaming and decentralized finance (DeFi). But, unlike many of its contemporaries, Project Sandbox is aimed not only at players, but also at aspiring game designers, VR architects, artists, and NFT traders.

    While some users will only build and profit from their creations, others will compete in-game quests and battles to claim and earn NFT weapons and accessories. These battles can be against other players in various sandboxes or against NPC enemies who stalk the landscape incessantly. Those who are only interested in game play can browse sandboxes, find their favorite, and compete in shooting games, car races, or quests to win prizes.

    A Physically Unrestricted World

    Worlds are likely to become more diverse, challenging, and lucrative as time passes and the Planet Sandbox community grows, especially with the popularization of sophisticated VR/AR technologies currently being developed by Apple, Amazon, Microsoft, and Google.

    Planet Sandbox, like many of its contemporaries, has a governance token, PSB, which is used for rewards, platform governance, and to cover NFT transaction fees. In the near future, players will be able to stake PSB tokens to earn a share of network fees. A second token, PULV, is used to buy consumables for use in the metaverse.

    Meanwhile, Planet Sandbox’s integrated 3D marketplace facilitates all trades in the game, with NFTs representing mountains, lakes, helicopters, tanks, weapons, gasoline, armour, and so on.

    The appeal of metaverses like those created by Planet Sandbox is universal: unforgettable experiences can be had in a world free of physics constraints. Metaverses enable users to play, work, socialize, and, with the help of NFTs and blockchain, build virtual businesses that generate passive income.

    Planet Sandbox is built on Binance Smart Chain, and a beta version of the game will be released next month, allowing players to become acquainted with the ecosystem and, if desired, become acquainted with the building toolkit. Following the release of the web version, mobile and PC versions will be released, and the PSB token will be listed on both decentralized and centralized exchanges.

    Whatever happens to the metaverse, only the most brilliant projects are likely to survive after the cacophonous hype has subsided. Is one of them Planet Sandbox? Time will tell.

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