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A growing number blockchain-based innovative projects in various industries aim to tokenize and replicate the value of real-world assets. This trend was observed in recent years. Real estate, fine arts, commodities, and intellectual properties are just some of the many fields that have shown an interest in tokenization because they believe it will increase accessibility, liquidity, transparency, and value. With some truly innovative projects, the gaming sector is one of many that are being considered as a possible tokenization target.
Virtual commodities like skins contribute a staggering amount to the game’s revenue. $50 BillionA more equitable gaming system is becoming more popular due to the growing global gaming market, which is expected reach $250 billion by 2022. Imagine there was a secondary marketplace where players could exchange NFTs for virtual goods such as skins and other in-game content worth millions of dollar!
The current market for virtual products is privately operated by the game producers. While game producers make huge profits off their monopoly they only grant players a license for the products that they bought. Although gamers paid real money for assets in-game like skins, these assets are not theirs. It’s a bad thing for players to know that these digital items could be taken from them at any time. As NFTs gain popularity, gamers are demanding an actual ownership and a fair market.
Assuming MetaZeroWhen the company fulfills their commitment and releases this platform, these players might soon see a future brighter than what they had expected. The team has taken a giant step in the direction of player freedom and ownership by allowing them to tokenize their own gaming assets. The project’s timetable starts with CS2 assets, which have a market value of more than $3.5 billion as of July 2023, and then moves on to other gaming markets.
Investigation of the MetaZero protocol reveals its central goal as the liberation of the gaming industry’s behemoths from their long-established monopoly on asset trade, investment, and speculation. Vortex is an element of the MetaZero Platform that allows asset holders to tokenize assets. This process involves authenticating an owner, locking up the original asset in a safe, and receiving an ONFT, which is a digital version of the original with the same value. This removes the ownership barrier.
You might have noticed that we used ONFT up there; it’s just one more fantastic feature that the team has integrated into their ecosystem. Users can access maximum liquidity opportunities by tokenizing their assets onto the blockchain of their choice using LayerZero’s omnichain technology. The first wave of digital asset from MetaZero, The Genesis Collection, which is an off-chain asset, has started to sell. Purchasers are getting some cool stuff including the ONFT.
One CS2 asset is worth six-figure amounts, demonstrating the growth of the digital asset market. MetaZero should be closely watched, given the size of the digital asset market.