An Exploration of the Metaverse — VegaX Research Report
What is the metaverse and why is everyone talking about it? Take a closer look at the “metaverse” and the metaverse ecosystem, including details on the latest investments in metaverse projects. This report reviews recent data through April 2022 — download the full report below.
An Exploration of the Metaverse
The events of 2020 that led to a multi-year pandemic have allowed the global community to observe the effects of drastically reducing face-to-face interactions; what becomes apparent is that humans are resilient, and as social creatures, they will utilize modern technology to satiate their need for community.
While social media platforms can provide *some* benefits of community interaction, use of these platforms come with trade-offs, particularly: trusting the intentions of a centralized entity, monopolization of revenue streams by said entity, permissioned environments in which users can be censored without clear reason, records of users’ personal information being stored insecurely, and terms of engagement that are subject to change at anytime.
‘Metaverse’ does not necessarily correspond to any one, specific representation — it encompasses 2D and 3D graphical representations, but more than that, the ‘metaverse’ represents the overall trend to radically dematerialize physical space, distances, and objects. It is a multiverse of unique experiences, games and adventures that will add value by enabling humans to live out their wildest dreams, from wherever they may be physically located.
Currently, the most successful metaverse projects are constructed as their own, walled-garden ecosystems (i.e. Roblox), or built upon blockchains as play-to-earn games and experiences.
Roblox, and other such platforms, have been wildly successful in cultivating a nearly circular economy by offering a full suite of integrated tooling, discovery, social networking, and monetization functions — these scalable features have led to an unprecedented number of users to generate their own content, and be rewarded for their efforts.
Those protocols built on blockchain technology take advantage of the potential for decentralization: distributed ownership amongst users and stakeholders, scalability as it relates to the microtransactions required in a play-to-earn game structure, transparency which allows creators and users to maintain digital sovereignty and ownership over their data.
In either case, the underlying trends are the same, empower users to create the content they wish to interact with, make it easy for content creators to monetize their efforts and allow users to have a voice when it comes to making decisions about the future of the project.
The following article will provide a high-level overview of the metaverse ecosystem described by Jon Radoff’s seven-layer onion model, briefly explain the seven layers (including examples of existing technologies), and review three of the largest block-chain based metaverse games as ranked by Market Cap.
Note that all blockchain-based games discussed in this article are included in the VegaX NFT Protocols Investment Product (VNFT).
VegaX Holdings Research Report April 2022: An Exploration of the Metaverse — Click here to download full report.
An Exploration of the Metaverse — Research Report Highlights:
- The Seven-Layer Value Chain 3
- Layer 1: Experience 3
- Layer 2: Discovery 4
- Layer 3: Creator Economy 4
- Layer 4: Spatial Computing 5
- Layer 5: Decentralization 5
- Layer 6: Human Interface 6
- Layer 7: Infrastructure 6
- So… what is the metaverse? 7
- How would one invest in a metaverse project? 7
- Axie Infinity — Market Cap $6.94 Billion 8
- Decentraland — Market Cap $4.09 Billion 9
- The Sandbox — Market Cap $4.07 Billion 10
- ….and more!
Click here to download full report.
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