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Metaverse ecosystems are taking center stage in the world of social interactions. New ecosystems will define how people interact in this decade and the rest of the twenty-first century. Ecosystems need infrastructure. Projects enable metaverse ecosystems. They keep them working and handle all the background processes that we don’t get to see.
For every metaverse ecosystem that exists, some technologies enable and enhance interactions. These technology platforms create virtual economies, enable commerce, and perform many tasks.
Here are a few projects that will keep metaverse ecosystems running in 2022 and beyond.
The Lum Network Enables Trusted Immutable Reviews
The Lum Network is a consumer review assessment, reward, and storage ecosystem that enables businesses, users, and reviewers to create quality ecosystems. Customer reviews are the heart and soul of every sales process. A significant majority of consumers check product and service reviews before a purchase decision.
Review systems have been rife with abuse. From company-generated reviews, keyword stuffing, and other practices.
The Lum Network has changed the industry by introducing a blockchain-based system that ensures transparency in the review process. Users get incentives for posting reviews. Companies aren’t part of the review process. Trust ensues for users who know that the Lum Network can give them the best reviews.
So much so that Skeepers, a consumer review management company with over 6,500 retailers and 25000 points of sale, have partnered with Lum network for on-chain reviews. Built on the Tendermint blockchain infrastructure, Lum Network in December 2021 raised $4 Million in private funding from notable investors. Lum Network as an on-chain trustless review ecosystem will boost commercial activities.
Users may not trust individual businesses. With a blockchain service like Lum, they can make the best decisions.
CXIP Labs Allows Metaverse Users to Mint NFTs Across Blockchains
CXIP is a marketplace agnostic platform that allows users to mint their NFTs via their own personalized smart contracts with just a few clicks. This is in direct contrast to services like OpenSea that combines all NFTs using their minting contract into one contract on-chain. This means that each creator doesn’t have their own on-chain provenance and instead relies on trusting OpenSea to prove that they are the real owner. CXIP fixes this by giving each creator their own personal smart contract, making the blockchain the trustless & decentralized arbiter of truth regarding ownership. The platform also allows for cross-market royalties, giving NFT owners the ability to receive royalties if they sell their assets on different marketplaces, something not available to those who mint using OpenSea’s minting contract.
This approach improves the interoperability of metaverse ecosystems. Users can traverse the metaverse space with their unique assets minted as NFTs. It increases commerce and proves that we can use virtual assets within different contexts without restrictions.
The benefits to users are many. The creator’s of assets in one marketplace or metaverse ecosystem can receive royalties even if they bring their NFTs into other Metaverses, ecosystems, or marketplaces. It also creates a framework for massive digital trade values and a conduit for digital economies to merge and increase interactions via trade as users focus on their unique experiences.
Gluwa Aims to Create Total Financial Inclusion
Gluwa is an ecosystem that creates blockchain-based products and services aimed at financial inclusion and adoption. Gluwa’s ecosystem ranges from wallets, investment products, and even access to decentralized credit via Creditcoin. Gluwa allows its users to access financial services on the go and use them regardless of their connected ecosystems.
Gluwa’s Invest bond gives investors the chance to make nice returns on their idle cryptocurrencies while helping those in need. The money put into the Gluwa Invest bond account is lent to the unbanked & underbanked in emerging markets, giving them the much needed capital to better their lives.
If the Metaverse represents the next step in the full digitization our lives, then finance must be present there as well. Gluwa, along with Creditcoin, is laying down the financial infrastructure necessary to power the lending of liquidity, capital, & digital assets – all in a transparent, immutable, and trustless manner that comes with being built on the blockchain.
SPACE Empowers People to Participate in their Commerce Level of the Metaverse
Metaverse project SPACE is an emerging platform that enables users to create virtual spaces for commercial activities. Arts and commerce are the basis for a significant portion of human activities. SPACE gives users the ability to create rooms within Gluwa’s environment. In its Alpha stage, SPACE currently has over 15,000 users and continues to expand as the project develops.
The project has gained traction within the web3 industry with investments from web3 incubation institution Binance Labs and others. SPACE also received $7 million in funding late last year from investors.
Virtual environments like SPACE enhance activities that currently define the global economy. Users will find self-expression through various activities, giving value to them as they interact with others.
Bit.Country Allows Users to Create Community-Oriented Metaverses and More
Unique metaverse creator platform Bit.Country enables users to create unique metaverse ecosystems with all kinds of capabilities. From D’App creation to smart contracts and NFT minting and transfers, Bit.Country enables cross-chain interactions through the Metaverse.Network blockchain protocol and API.
The Metaverse.Network protocol is a Polkadot-based blockchain protocol for metaverse ecosystems and games. Bit.Country’s focus is to allow ecosystem development while simultaneously allowing gaming, D’App, and smart contract developers to integrate their projects into the Metaverse.Network blockchain protocol.
This approach gives users the freedom to do anything they want under the sun, driven by the NUUM token. Rather than building a metaverse ecosystem from scratch, Bit.Country gives users the freedom and flexibility they need to create communities and ecosystems.
The platform is built on the substrate framework and is Ethereum-compatible. EVM compatibility allows developers from the Ethereum Virtual Machine (EVM) community to port their projects to the Metaverse.Network protocol.
It will bring rapid growth of such ecosystems and enable activity incentivization by creating tools that are easy to use without the required technical prowess.
Bit.Country running off the Metaverse.Network parachain is one of those ecosystems that offer ease of use, security, and functionality for metaverse ecosystem creators.
Late last year, as part of efforts to encourage the growth of the metaverses in its stable, Bit.Country announced the introduction of several new metaverse ecosystems, including the Kaosland Metaverse. The Kaosland metaverse is the latest addition to the Pioneer metaverse map.
How Will Metaverse Ecosystems Change The World?
Emerging technologies shall be at the forefront of solving the various problems that plague humanity. From climate change to conflicts, metaverse ecosystems will enable virtual solutions, thus paving the way for the emergence of a global society driven by altruism.
These ecosystems will boost the economy and create value across the board regardless of location, gender, orientation, and belief systems. They will also enable the improvement of educational systems lacking the tools needed to train the next generation. The technologies that drive them will give the world a chance to create a bright future and allow conflict resolution in situations where war prevails.
Metaverse ecosystems will also solve financial inclusion and value creation. Giving creatives the chance to gain incentives and live better lives. In healthcare, metaverse ecosystems will allow professionals to interact in virtual settings to share ideas and solutions to problems without needing to travel. Virtual tourism will be a vast industry within the next decade, as tourists will visit locations remotely that don’t exist yet.
For now, all metaverse ecosystems have to do is to create the foundation for innovation and growth.
