Metaverse is one of the technologies that has propelled the Web 3.0 revolution. Metaverse is essentially a closely-knit virtual world that has changed how we communicate with everyone. Although Web 2.0 is way ahead in terms of adoption, if Web 3.0 continues to grow at a consistent rate, it can go mainstream.
As per various reports, we spend almost 1/3rd of our entire day on virtual activities like gaming, streaming, watching television. Consequently, we spend more money on such digital world applications as they facilitate our social status. We spend money on various gaming applications, OTT subscriptions, and so on, which power the virtual economy as many players are shifting from premium games to free games. Consequently, developers have introduced premium in-game assets that enhance the player’s social status in that particular game. It has been estimated that active income generated from the virtual worlds will proliferate from $180 billion in 2020 to $400 billion in 2025.
However, an obvious problem with Web 2.0 games was that game developer did not allow players to gain liquidity on their efforts and investments. However, things have started to change with Web 3.0 and metaverse technology. Metaverse bolsters decentralization and will enable players to convert their in-game profits into real-world returns. Through Non-fungible tokens (NFTs), players can now very easily transfer their in-game assets with each other and create their very own marketplace. The age of the metaverse has made us realize that gaming is way more than just a virtual activity. If correctly leveraged, gaming can generate economies through advertisement, social interaction, and creator monetization.
DigiCorp Labs’ most recent project, DigiMetaverse, upholds all the principles of metaverse technology. The project prioritizes security, its people, and most importantly, value creation as they move forward towards creating a metaverse. DigiMetaverse aims at enhancing decentralization by ensuring equality, comprehensiveness, and upheaval of technology. Web 2.0 was based on centralization as higher authorities controlled them. DigiMetaverse, as a Web 3.0 project, aims to eradicate centralization by eliminating such influences and creating an independent platform for users. DigiCorp Labs plans to overcome these flaws and build an inclusive but digitally-focused metaverse.
DigiMetaverse is not only designed to benefit investors but also to benefit brands, consumers, institutions, and organizations. To acknowledge this problem, the Digimetaverse team came up with three business units: DigiThree, DigiLife, and DigiAcademy/DigiWare.
The three units would have different user cohorts and deliver SID services accordingly. They have also partnered with ThreeFold to develop quantum secure enterprise applications. Self-sovereign identity is a way of transferring the information of creator coins to the Metaverse. Later that can be used for identification or scoring purposes.
The income generated from the Metaverse virtual worlds is, in fact, a part of a bigger interconnected crypto world. The Metaverse economies have their own payment methods and their digital currencies. DGMV is DigiMetaverse’s indigenous token that fuels the entire DigiMetaverse ecosystem. DGMV is designed to Incentivize the stakeholders. DGMV is also responsible for powering Self-Sovereign Identity (SID) for the users. Along with SID, DGMW opens an entirely new door to advanced enterprise and customer services. DigiCorp Labs plans on migrating the DGMV token to the DigiMetaverse smart layer.
Metaverse technology can impact the internet and its features we know. Projects like DigiMetaverse contribute towards the growth of Metaverse. Metaverse is poised to take the financial market to brand new levels with enhanced decentralization and security measures.
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