As of now, Metaverse has a market cap of $100 billion, and if you include
Facebook’s market capitalization, then Metaverse’s market capitalization is at least $1,100 billion.
According to Bloomberg research, the “metaverse” market is expected to reach $800 billion by 2024 and 2.5 trillion by 2030.
The future of the metaverse market is immeasurable, but there is always a hidden side to the glory, and the metaverse industry is no exception.
Let’s take a look back at 2021 on the internal situation of the entire metaverse industry. GameFi’s play mechanism is relatively special as it has a natural anti-monopoly attribute which will inevitably bring a lot of traffic and become an object of persuit by the capitalist.
But in the second half towards the end of 2021, the performance of the metaverse has shown a downward trend. Why did this happen? There is no doubt that there are many problems in the metaverse industry itself, which lead to the poor performance in the second half of 2021, and the discontinuities of many projects in the metaverse.
First of all, we look back at some games which have gained more popularity in the industry in year 2021, such as: Farmers world, Defina, Thetan and so on. They all have several common flaws which are also the flaws of the industry itself.
First: poor user experience
GameFi is considered a game product. It needs to be focusing on the play to earn mechanism while providing players with extremely high playability. In many projects, eventhough users can generate revenue, the playability of the game itself is not very high which leads to boredom of players.
Second: instability in play to earn model
The most important element in GameFi industry is play to earn. Only a good economic model will allow players to get a long term stable income, and allow more players to participate in your project. When Axie infinity was hot, the payback cycle was seven days to a month, but later the payback cycle became three months or even six months, and it increased exponentially. This has caused poor user’s experience that they lose the motivation to play the game itself.
Third: Lack of content in the ecological segment
All the products in the industry have relatively monotonous ecology. There is only the game with no corresponding supporting facilities. There is no consumption involved, as a result, revenue obtained by players from play to earn will all be thrown to the market, resulting in selling pressure and the inability for the main currency’s price to rise, which in turn leading to a longer payback period.
Fourth: Confusion in metaverse concept
Metaverse realization requires combination of 5G, AR, VR and other technologies. At present, there is no game that combine VR, AR, and artificial intelligence technologies into the project. Therefore, GameFi industry will not have a better breakthrough if these problems aren’t solved.
METAEASE has solved the above mentionedproblems completely.
Not only that the game ecology contains various kind of GameFi, it connects many game economic systems and asset information systems, supports the transfer and use of various game assets, in order to truly build the game metaverse 0.5. Then, on this basis, VR and AR technologies are combined with GameFi to create the metaverse 1.0, in which people can engage in various behaviors such as immersive socializing, gaming, creating, and trading. At the same time, we provide various ecological tools, wallets, NFTstore, etc. to build the economic system in the metaverse, allowing value exchange between various applications in the ecology.