The Mars
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Purpose of Development
The Mars team believes that the metaverse is "the future that must come", and has started development to overcome the reality that there are a few cryptocurrency business.
Metaverse?
The metaverse is a combination of prefix "meta" (meaning beyond) and the stem "verse" (a back-formation from universe"); the term is typically used to describe the concept of a future iteration of the internet, made up of persistent, shared, 3D virtual spaces linked into a perceived virtual universe.
In the metaverse, users create UGC (User Generated Content) and it is a commodity which is distributed through a crypto currency.
Since 'Second Life' released by Linden Lab, an IT Venture in the United States, has grown in popularity, an interest in the metaverse has grown together overtime. Meanwhile, the metaverse world has been defined to describe mainly as virtual reality, but now the word metaverse is used to describe more advanced virtual world of things.
This term originated from a novel 'Snow Crash', written by Neal Stephenson in 1992, where different characters in virtual space interact with the agents of software (as avatars), whether socially or economically, and interact with each other in the real world. Metaphorical term, but refers to a world that transcends time and space without any physical limitations.
Blurring the boundaries between Real & Virtual
MZ generation, born after 1980, has become a very natural phenomenon to empathize with online avatars.
There is no boarder between online and real-life friends, and no wonder that they spend money to buy apparels and accessories in order to express their personality on their avatars.
Moreover, due to the COVID-19, it is becoming very natural that people create offices on the metaverse platform for their work instead of the physical commuting.
With a spread of smartphones, the boundary between online and offline is rapidly breaking down. Moreover, due to the development of AR, VR and computer graphics technology, it is difficult gradually to distinguish between virtual and real life.
Market Outlook & Size of Metaverse
According to a report by PwC, a global consulting firm, the market outlook of the metaverse, including AR and VR, is expected to continually grow and reach about US$ 1,500 billion by 2030.
Here are a few examples that can backup predictions of the metaverse market growth.
Despite all performances and concerts have been cancelled in the global pandemic, Travis Scott, an American Singer, decided to hold a concert in Fortnite, an online battle royal genre game.
The concert was a success, and albeit the paid performance, it was recorded that 12 million spectators (users in the game) attended.
In another metaverse platform called "ZEPETO" held an autograph event with K-Pop girl group Blackpink, and 40 million fans attended. Blackpink also performed their latest album with their avatars in that space.
Since the above figure of audience and participants are physically impossible in the real world, all global companies are paying attention to the future of Metaverse.
Roblox, one of the representative metaverse games, was listed on the New York Exchange on March 11th, 2021, and it is reported that there are 2 million developers who use 'Roblox Studio' to create mini-game on the platform.
As of July 2021, "Fortnite" has 350 million users, "Zepeto" has 200 million users and "Roblox" has 150 million users from countless countries.
Metaverse is the most popular platform in the future business, just like when the internet was born.
Blockchain, Cryptocurrency & Metaverse
Game money existed in games before cryptocurrency using blockchain technology appeared, and in some cases, game money was traded to actual money through an external item exchange.
In "Roblox" and "Zepeto", there are tradable game currency in those platform called Robux and Gem, and creators can exchange those game money into real money.
However, Robux and Gem are not decentralized cryptocurrencies. Thus, there is no monetary or distribution policy, the value of currency can also be adjusted according to the development direction of the developer.
To solve such problems, the metaverse platform of "The Mars" applies cryptocurrency to the base in-game currency of the metaverse in order to realize the decentralization and limits of quantity for a transparent operation according to a set distribution policy, rather than arbitrarily adjusted by the developer.
As the function of cryptocurrency develops gradually, it can be continuously preserved by using NFT (Non-fungible Token) for limited assets in the metaverse.
Last modified 8mo ago