Metaverse Public Chain: Value, Status, and Future Trends

Key Points Overview

1. The Metaverse public chain is a key infrastructure within the Metaverse technology system.

2. Currently, the Metaverse public chain is in the early stages and needs to focus on improving infrastructure construction.

3. VR, AI, 3D rendering and other technologies deeply integrated with blockchain technology

4. Enhancing cross-chain interoperability and EVM compatibility is an important development direction for the Metaverse public chain.

Metaverse Public Chain Overview

The Metaverse public chain serves as an important infrastructure for the Metaverse ecosystem, providing a development and user experience platform for projects such as NFTs and GameFi.

The Metaverse is currently in the early stages, with a strong demand for infrastructure construction, including data storage and distribution, 3D technology, payment methods, identity verification, and cloud computing. This has driven the development of public chains for the Metaverse.

The Metaverse industry can be divided into five layers:

1. Infrastructure layer: computing power, cloud services, etc.
2. Digital Infrastructure Layer: Blockchain, Internet
3. Development Tool Layer: 3D Engine, VR/AR
4. Basic Ecological Layer: Developers and Applications
5. User End: NFT, blockchain games, social applications, etc.

The market value of decentralized Metaverse projects has currently surpassed 10 billion US dollars, accounting for 1.1% of the total market value of cryptocurrencies.

The Metaverse public chain mainly includes two categories:

1. Decentralized Rendering Network: Integrates global idle GPU resources to complete rendering tasks, such as Caduceus, iPolloverse.

2. Game Public Chain: Public chains designed specifically for NFTs and blockchain games, such as WAX and Klaytn.

Typical Metaverse Public Chain Projects

Decentralized Rendering Network

Caduceus

Caduceus is a decentralized edge rendering Metaverse protocol that provides developers with services such as rendering, computing, and 3D technology. Users can contribute GPU computing power to earn token rewards.

Core components include:

• Decentralized Content Distribution Platform
• High-performance Metaverse infrastructure
• Barrier-free migration

Roadmap:

• Launched Mainnet 1.0 in Q2 2022
• Mainnet 2.0 launched in Q4 2022
• In 2023, XR-SDK, 3D-Vlog platform, and others will be launched successively.

Financing: Completed $4 million Series A financing in March 2022.

Ecosystem: More than 50 projects have been established, covering cross-chain bridges, DID, blockchain games, etc.

iPolloverse

iPolloverse adopts a Web 3D technology route and completes rendering through a distributed computing network.

The technology stack includes:

• Web 3D Architecture
• Advanced Network
• AI
• Avatar( Avatar)

Testnet performance: 1 GPU supports 500 users, with bandwidth per user reduced to 300 Kbps.

Ultimate goal: 100,000+ GPUs, 800PB storage, 20,000 TPS

Game Public Chain

WAX

WAX is specifically designed for NFT, GameFi, and Metaverse projects, supporting the creation and trading of digital assets.

Data:

• 200+ applications
• 13 million+ accounts
• Daily average of 23 million+ transactions

Famous projects: Alien World, R-PLANET, etc.

Financing: In June 2022, received a $10 million investment from OKX Blockdream Ventures.

Immutable X

Immutable X is a Layer 2 NFT platform that supports 0 Gas minting, with a TPS of up to 9000.

Data:

• Over 33 million NFTs were minted in 2022
• Completed 7.5 million+ NFT transactions

Ecosystem: 80+ projects, including well-known games like Gods Unchained.

Financing: Completed a $200 million financing round in March 2022 at a valuation of $2.5 billion.

Metaverse Public Chain Technology

The Metaverse public chain combines technologies such as edge computing, AI, and NFTs:

1. Edge Computing: Reducing latency and bandwidth usage

2. AI: Enhance 3D image realism, optimize loading speed

3. NFT: Realizing on-chain assets, environments, avatars, etc.

Compatibility and Scalability

Compatibility:

• Compatible with EVM, WASM and other virtual machines
• Facilitates the migration of other public chain applications.

Scalability:

• Network: Most public chains have TPS exceeding 1000+
• Ecosystem: Expanding from DeFi and NFT to broader business scenarios

The Value and Development Stages of the Metaverse Public Chain

Value:

• Provide identity system and data storage usage methods
• Enhance user experience through edge technology
• Achieve digital property rights in the Metaverse

Development Stage:

• In the early stage of underlying infrastructure construction.
• There is significant room for improvement in the integration with technologies such as AI, AR, and VR.
• After the infrastructure matures, large-scale adoption will follow.