Origin story丨Metaverse and blockchain
Metaverse is the fantasy of the future society by the people of the past. The term originated from science fiction Snow Crash, and is used to describe the virtual 3D world shared by multiple people in the future world.
The root of the production of the Metaverse is the continuous evolution of technology.
In the past 20 years, there have been continuous breakthroughs in the realization technology of the metaverse. With the breakthroughs in VR software and hardware technology, Internet communication speed and blockchain technology, the audition, interaction, economic system and sociological composition of the virtual world have gradually revealed its prototype, we can predict that science fiction is becoming a reality.
🧩 Metaverse
Metaverse was created by Neil Stephenson in 1992 science fiction noval Snow Crash. The term Metaverse consists of Meta and Verse, The word “Metaverse” is made up of the prefix “meta” (meaning beyond) and the stem “verse” (a back-formation from “universe”).
The Metaverse is the product of the high-level combination of human fantasy and advanced technology. Through the Metaverse, humans can more generally obtain more advanced needs in the hierarchical theory of needs.
The construction of Metaverse mainly includes sensory simulation, cross-space interconnection and social structure.
VR(Virtual Reality) provides a realistic audition experience of images and sounds in the virtual world; the development of Internet communication technology supports higher concurrency and low-latency online data processing. Blockchain has realized decentralized data (especially Assets) recording and verification. This has provided a theoretical basis for the establishment of the Metaverse.
At the beginning of the 21st century, there are existing universal standards, interfaces and communication protocols for the Metaverse concept.
The realization of consumer-grade products such as VR and AR has made the realization of the fantasy of the Metaverse one step closer. As NFT is gradually being used and empowered in 2020 and 2021, its deep correlation with the concept of Metaverse has officially detonated the entire cryptocurrency industry and has produced a market of hundreds of billions of dollars.
The concretization of the Metaverse concept makes people have more visions for the future, and it also attracts technology workers or investors to layout. Metaverse is considered to be the form of the next generation of technology after the internet.
From VR games to today’s crypto assets, practitioners are beginning to dabble in this frontier in how to integrate the concept of the Metaverse into a complete, engaging business.
🔗 Metaverse and blockchain
The decentralized structure of blockchain and the uniqueness and complete ownership of virtual assets, make its premium.
Non-Fungible Token in ERC-721 format become a hot topic in the industry in 2021, and the industry has gradually discovered that the decentralized ownership of NFT is an integral element of the Metaverse.
In reality, people have indisputable ownership of all physical items, but in the network, all virtual assets, whether gold coins or props, are stored on central servers, mostly from commercial organizations.
This makes online games have always been difficult to go any further despite many attempts by major manufacturers to become a more open virtual world with advanced financial systems, governance environment and social attributes. It conflicts with the central “God” rights and the game developer’s “profit-first” philosophy.
The emergence of blockchain makes the ideal Metaverse scene possible.
In the 12 years since the advent of one of the blockchain technology, Bitcoin. A number of solutions from layer 0-Layer 2 have emerged to address blockchain throughput, concuracivity and efficiency issues. The form of the DAO(Decentralized Autonomous Organization) was initially established by giving evidence to governance mechanisms.
The original goal of IVS is to build a Metaverse infrastructure with advanced mechanisms and Great experience.
The status quo and opportunities of the development of the Metaverse and blockchain
Although there is a lot of money in the way or ready to join the circuit in today’s blockchain industry, the concept of the metaverse is still at an early stage.
Today’s concept of Metaverse more focused on the concept of assets from the product degree, but downplayed the concept of behavior, and the game, virtual space is less associated.
Three main reasons:
- Metaverse participants pay more attention to return on investment than experience, gaming and other content factors, so the design requirements of economic models are much greater than the requirements of content quality;
- There is information gap between Metaverse content developers (mainly game developers) and smart contract developers, and there are differences in the understanding of the content, market, technology and economic system of Metaverse, a composite product.
- Due to the limitations of performance and smart contracts, so there are limited actions that can be performed. Nevertheless, as mentioned earlier, the advantages of blockchain, particularly in addressing data and assets, remain unmatched.
🧿 Infinite Virtual Space
The ideal Metaverse should contain several core features:
- People in the Metaverse have his/her own avatar which can carry out social, games, content creation and other activities;
• Metaverse persists indefinitely, synchronizing in real time for all participants, providing an immersive experience;
• Digital assets, social relations and other content can be highly interoperable in various spaces of the Metaverse, there is a wide range of interfaces between Metaverse and the real world.
• Metaverse will form an adequate economic system in which participants can create, own, invest, and sell a wide variety of virtual objects.
IVS consists of three parts: IVS Meta Protocol (Infinite Virtual Space Meta Protocol), a virtual 3D space and access protocol defined by IVS; IVS Bridge, a crosschain bridge that can realize multi-chain interaction; Infinite Virtual Space Token(IVST), a standardized token that provides economic circulation and governance mechanisms for IVS; X-engine , a codeless development engine that can implement 3D VR space and blockchain-related technologies
IVS will provide a series of basic frameworks and standards for users and developers to participate in and design games, social networking, decentralized finance and other online virtual scenes. DAO (Decentralized Autonomous Organization) can be formed to build a Metaverse composed of multiple public chains, diversified virtual spaces, applications and assets.
By implementing these sections, IVS will have more far-reaching imagination space and will be fully competitive.
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About IVS👨🚀👩🚀:
Infinite Virtual Space is a virtual space value circulation protocol that fully supports devices on Web 3.0. X-Engine, where users can independently design and build different 3D Metaverse scenarios, with great potential for strong economic mobility and governance development.
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