CryptoBlog n.761
CryptoBlog n.760
What is Web3? Also known as Web 3.0, Web3 is the next major phase in the Internet evolution, which will be based on decentralization, openness, and greater utilization for individual users. To better understand Web3, it can be helpful to review current and past phases of the Internet. Unlike the current Web 2.0 phase, where centralized firms own platforms and apps, Web 3.0 platforms and apps are developed, owned, and maintained by users. The future Web3 iteration of the Internet is expected to be more like the initial Web 1.0 phase than the current Web 2.0. Dating back to the 1990s, Web1 was the beginning of the World Wide Web. Similar to how Web3 is expected to look, Web1 was also defined by decentralized protocols and individual users. Many believe Web3 is the future, decentralized Internet, where users become the owners. While Web3 is still in its infancy stage, it will likely impact the broader economy in the years ahead.
CryptoBlog n.759
The Epic Games Store is a digital video game shop where users can browse and purchase a variety of titles, some being exclusive to the platform. Earlier this week, the Mythical Game title Blanko’s Block Party made its Epic Games Store debut, marking the first NFT-backed release on the platform to date. Blanko’s Block Party is an open-world multiplayer game styled like a giant block party, with a focus on art and the customization of the vibrant surrounding world. While ownership of a crypto wallet or NFTs is not necessary to play, the game does allow players to collect rare items, accessories and designs via blockchain-backed NFTs. Originally launched in Beta back in 2020, the game has already reportedly amassed more than a million unique users, and taken on collaborations with the likes of Burberry and Atari. The full game has still not been released, but the launch is now slated for September 28th.
CryptoBlog n.758
JPMorgan: China’s Metaverse-Related Economy Could Reach $4T The metaverse – an immersive digital world created by the combination of virtual reality, augmented reality and the internet – will have “profound implications” for China and will affect gaming, advertising and e-commerce, JPMorgan (JPM) said in a research report last week. The digital world will offer an improved user experience across various internet business models, and this could lead to increased user penetration and average revenue per user (ARPU), the report said. The bank’s bullish scenario suggests that the metaverse could triple China’s online-gaming market to $131 billion from $44 billion. The metaverse “could digitalize everything in the long term,” the bank said.