Play2Earn: the cornerstone of the Metaverse
While Axie Infinity has been proving the viability of the play-to-earn business model, it has drawn millions of people into the Metaverse, creating value out of the time users spend interacting with the game and its denizens.
The Play2Earn model
The pure pay-to-play business model has been the foundation of the gaming industry for a long time, and yet, we are witnessing a slow, but steady move towards a freemium model, with Apex Legends and Fortnite as prime examples… going Play2Earn is only logical: letting the community generate value for itself through the game, which only serves to boost the game in the long run. Blockchain fits this model nicely as the key infrastructural element of Play-to-Earn, allowing for digital asset ownership and creation to be as organic as it is with real life items. In the Metaverse, the blockchain is what enables trustless value transfer between users and platforms.
OVR is aiming to become the go-to AR Metaverse platform, and yet, a successful Metaverse cannot be limited to a place where people meet and play; it must also generate value for its players to be able to spend in the real world. To achieve this goal, OVR is building frameworks to enable value creation in the AR Metaverse, frameworks that can be leveraged by both regular users and third-party projects and even brands.
The innovation of OVR
The first Play2Earn implementation on OVR was the Pokemon-GO-style treasure hunt, which turned out to be a huge success for the platform: treasure hunters visited over 1 million physical locations. Inspired by this achievement, OVR decided to open the AR Treasure hunt framework to other crypto and non-crypto projects. The first collab – Doge Pound – went live just a few days ago. Treasure hunters get to enjoy eye-catching NFTs for rewards. This latest treasure hunt has attracted over 2130 participants who scouted more than 29,000 locations! This is a perfect example of the hidden potential stemming from the Play2Earn model and gamified value generation practices.
However, one may argue that it is just the beginning; the earning opportunities that the Play2Earn model of OVR can bring to the AR Metaverse span a much broader horizon. In the coming weeks, OVR is set to release its first Unity plug-in that will enable it to gradually expand the expressive capability of the OVR framework, allowing the community to create complex games for the AR Metaverse. Game developers, projects and brands will not only have access to the OVR community as an audience for their products, but also be able to leverage every OVR subsystem available so far: geographic reference, time-tested iOS and Android apps, payment rails, and an avatar system, to name a few.
Another important thing to keep in mind is the upcoming release of a gamechanging tool for geolocalised AR Metaverse: the Scan2Earn feature on the OVR app. Stay tuned for more updates on how OVR builds and expands the Metaverse.
OVR is a cutting-edge platform powered by the Ethereum Blockchain. Anyone with a mobile device or smart glasses is able to have an interactive, augmented reality experience tied to their current GPS position in the real world. OVR is setting a new standard in the augmented reality sector.Users can develop 3D content in the metaverse, own the space where it is hosted in the form of an NFT, and place it in any corresponding location in the world.
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