How HALO Network Is Redefining NFTs, GameFi And The Metaverse
More people are embracing NFTs, GameFi and the metaverse as tech giants like Meta and Apple reiterate their interest in such digital entities. Meta is building an ecosystem to support the growth of the metaverse. If these tech giants are supportive of this virtual reality, what are the public chains doing?
NFTs, GameFi and Metaverse — Adoption Is still Lukewarm
An interconnected virtual space where communication is a lot crispier and people get to unleash their indulgences, that’s what the metaverse represents. So why isn’t everyone jumping on board? Metaverse adoption is still lackluster though tech giants are supportive of the concept.
The pandemic helped push the concept of a metaverse. With everyone trapped indoors, attention shifted to the virtual space. More people channeled their energy towards connecting with others virtually. And some devoted their time to creating NFTs, play-to-earn games and a virtual world where users can do whatever they please.
At the moment, the metaverse is still under construction. There’s a lot that needs to be done to make that virtual space appealing to a wider demographic. Of course, it won’t be easy convincing a Gen X to join the metaverse train. But there’s nothing impossible if the price is right.
One aspect of the metaverse that stands out is GameFi. The play-to-earn angle of these games make them appealing to most people. With the success of Axie Infinity, more play-to-earn games have risen. Interestingly, most of these play-to-earn games aren’t exactly on par with even the average game titles out there, but the earning potential continues to drive the appeal. The world is smitten by the passive income possibility, so the P2E bandwagon gets filled up rapidly.
Despite the occasional flash in the pan, the metaverse is still massively underutilized. Even within the crypto space, those keen on that virtual ecosystem are in the minority. Only recently, Elon Musk and Jack Dorsey criticized the practicability of Web3, an important component of the metaverse. That tells you everything you need to know about the adoption of the metaverse. Perhaps blockchains need to spearhead making the metaverse by providing the enabling environment for this virtual space to thrive. Most public chains appear to be grasping at straws in this regard hence the stagnation of the metaverse.
HALO Network And The Metaverse
HALO Network is an underdog amongst blockchains, but the chain is pushing its weight behind the metaverse. And that’s quite something, underdog or not. Here’s a breakdown of how HALO Network is gearing up for a widely adopted virtual space:
BAT Protocol Enters Metaverse To Boost Digital Economy On HALO Blockchain
HALO Network began its journey towards being an ideal chain for the metaverse to grow through the collaboration with BAT Protocol (BATPL). The open-source protocol serves as the gateway to utilizing data for the benefit of the metaverse. It’s through BAT Protocol that digital identity for users of the virtual space on HALO Network is realized. Web3 dApps need data to survive, and BATPL is creating a data economy to make that happen. Thus, the emphasis on the public chain’s support for BATPL.
HOSWAP Becomes An NFT Marketplace
HOSWAP, HALO Network’s main DEX will serve as a marketplace for NFTs on the blockchain. It’s one of the ways the public chain gives credence to non-fungible tokens and the metaverse.
An Efficient Cross-chain Bridge
Experts agree the metaverse has to be interconnected, with several blockchains linked. To achieve this, cross-chain bridges are important. And they have to be safe. HALO Bridge is a cross-chain bridge that connects HALO Network to other chains. It’s safe, efficient and charges are rather negligible. Thanks to this cross-chain bridge, the metaverse on that public chain isn’t isolated but stays connected to other virtual realities on the different blockchains.
More Nodes, Less Congestion
HALO Network might have started operations with only a handful of nodes, but the blockchain continues to grow as more people get attached to its community-driven ecosystems and secure framework. Only recently, HALO Network added more nodes to the existing number, reducing the likelihood of network congestion should certain nodes’ services get disrupted. This is even more crucial as the play-to-earn game, Cosmic starts to take shape.
NebuDAO Created
What’s a metaverse without people? Nothing! So HALO Network created a DAO to help usher users into the metaverse on the blockchain. It’s the perfect way to navigate the virtual world and earn rewards in the process. The dApp comes with a GameFi side that has proliferated into a full-fledged play-to-earn game.
Cosmic GameFi Launch
NebuDAO realized one of the first milestones of the HALO Network metaverse journey: creating a rewarding and entertaining play-to-earn game. Cosmic, the brainchild of NebuDAO and HALO Network, was launched in January. Users were so enthusiastic to get involved that the entry NFTs were completely sold out within minutes.
If Cosmic gets players hooked as expected, then HALO Network has achieved what fewer chains have managed. From feelers making the rounds, Cosmic will surpass the achievements of Axie Infinity. And it’s still new, so getting into Cosmic is relatively affordable and rewarding for new players.
The Cosmic gameplay and reward model will decide just how popular the GameFi project turns out to be.
Conclusion
HALO Network will take the NFTs, metaverse and GameFi to new heights. The blockchain’s infrastructure, collaborations, and ecosystems affirm its capacity to deliver in these areas. We just have to wait to see things go as planned.
Follow HALO Network and stay up-to-date:
- Official Website: https://halo.land
- Telegram Group: https://t.me/HALONetwork
- Telegram Channel: https://t.me/HALONetwork_news
- Twitter: https://twitter.com/network_halo
- Medium: https://halonetwork.medium.com
- Reddit: https://www.reddit.com/r/halonetwork
- Discord: https://dsc.gg/halo-network
