first level title
virtual migration
Whoever sees that a storm is coming should warn others. And I saw the storm coming.
In the next generation or two, there will be many more people, even hundreds of millions of people immersed in virtual worlds and online games. Once we play the game, outside the game, things in reality dont happen anymore, at least not in the way they do now. With millions of man-hours pulled out of society, something super-big is bound to happen.
When I put on the Steam Index and entered Half-Life: Alyx, I saw the towering iron tower in front of me, and at the same time the sound of aircraft sounded in my ears, the boundary between virtual and reality was broken down at that moment. Never have I felt the pulsation of the great migration to the virtual world in the long river of history impacting my senses as deeply as now.
Half-Life: Alyx
Zhuang Zhous dream of butterfly
Zhuang Zhous dream of butterfly
In the past, Zhuang Zhous dream was a butterfly, and the butterfly was like a butterfly. He used himself as a metaphor for his aspirations! He didnt know Zhou. Suddenly he realized that he was a butterfly. I didnt know that Zhous dream was a butterfly, and the butterflys dream was Zhou Yu? Zhou and Hu Die, then you must There is a difference. This is called materialization.
Coincidentally, Hilary Putnam of the West put forward the illusion of brain in a vat: if a brain is soaked in a vat filled with some kind of nutrient solution, and various sensory information is exchanged with it through a powerful computer, then This brain will think that it is living in a real world. Imagine this: do we just exist in a tank like consciousness?
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brain in a vat
As real as it is
As real as it is"Consciousness is primary"of.
of.
The reality we are facing after the 20th century is: VR/AR technology, motion sensing clothing, and brain-computer interface technology are iterating at a high speed. After taking over our five senses, the boundary between virtuality and reality has become blurred. The virtual world replaces the physical objective world by taking over my world.
false true true
false true true
When the technology reaches that stage, can you really realize that you are in the virtual world?
And the more real fiction is that you never question its authenticity. Truman has been placed in a set environment since he was a baby, and it was not until he became an adult because of Sylvia that he began to doubt the unreality of this world. This is still in a high-cost and error-prone Metaverse, and he has been deceived for so many years. Then imagine, if you are Truman, you have been connected to the brain-computer interface since you were young, and you grew up in a virtual environment. At this time, the virtual world is not the real world for you.
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Truman
As for the value of the metaverse, the value of NFT, the value of virtual goods, and the discussion of all these values, when the virtual world becomes the real world of Truman, is there any difference between them and various real objects?
Discussing the value of NFT avatars at this time, like discussing the value of a good-looking dress, seems meaningless to some extent. Girls will pay hundreds of thousands for beautiful bags, boys will pay millions for Dream Cars, and the same is true for the NFT avatars in the eyes of Crypto man.
In the end, value is nothing more than the ruler produced by human behavior and human interaction. All rulers measure time in the end, and when virtuality increasingly occupies our time and life, there is no difference between a virtual minute and a real minute. The distinction between high and low.
Metaverse
Metaverse
The Metaverse and the Information Dimension
The Metaverse and the Information Dimension
My three-year-old son, who recently likes to play house-cooking games, frying the Lego bricks I bought him with a spatula.
When I was writing the article on Metaverse, I suddenly realized that playing house is the most primitive and low-profile version of Metaverse.
The pursuit of a richer life experience has always been one of the underlying needs of human beings.
The metaverse is the sum of a series of technologies that provide a higher-density life experience through a low-cost five-sense link solution. The Metaverse also means a richer dimension of information.All current metaverses in the blockchain field cannot be called metaverses, becauseNone of them provide higher dimensional transmission of information from the five senses
. All current blockchain metaverses, such as SAND and MANA, are just blockchain games, but they may become metaverses in the future.
The improvement of each information dimension will bring about huge industrial changes.
At first, we were a one-dimensional metaverse of words. We passed through texts such as Harry Potter and Lord of the Rings, and then passed through the magical metaverse of the brains fictional structure.
Then there are the 2D visual metaverses that enter our brains directly through vision through the powerful visual industry, causing intracranial orgasms.
What VR/AR and other technologies bring is true three-dimensionality, which brings more expectations for industrial transformation.
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The Avengers
In my life, I also feel the impact of this dimension improvement. Im playing Nioh 2 recently and Im looking for a strategy. Suddenly, with the growth of the video medium, many of the guides I saw on game portals are now video guides. Two-dimensional information once again defeated one-dimensional text information in the corners of my familiar life.
The relationship between metaverse and blockchain
The relationship between metaverse and blockchainThe Metaverse is the sum of a series of technologies that provide a higher-density life experience through a low-cost five-sense connection solution.
The bottom layer of the metaverse is the linking scheme of the five senses and the calculation ability of the virtual world.
Blockchain is a trusted computing body composed of redundant computing resources according to a certain consensus mechanism. Its core essence is to provide machine trust through high cost.The two are technically not strictly related.
All those who say that the metaverse must require blockchain as the underlying technology are the self-indulgence of insiders.
If we are clear about the high-cost characteristics of the blockchain, then we must admit that it is impossible to adopt blockchain technology in the early stage of the metaverse, which limits its large-scale commercial use in terms of cost.
When we talk about the metaverse, what metaverse are we talking about? The workplace metaverse, the magic metaverse, the martial arts metaverse, and the future technology metaverse. Human beings have too many imaginations, and some of these imaginations completely conflict at the bottom level. The existence of the magic metaverse is to challenge the physical laws of the future technological metaverse.When we discuss the metaverse not from the breadth, but from the depth,
Would you like to breathe in a virtual space where the air is controlled by a large entity (maybe a government, maybe a business) in a virtual world where you are willing to devote more than 50% of your life to being in it?No matter how bad the regime is, it cant imprison peoples freedom of air and water, but the ultimate control in the metaverse can eliminate you physically and directly through spiritual elimination very easily.
A true metaverse, a metaverse in which human beings are willing to devote themselves wholeheartedly, must be decentralized in terms of control, as objective as air and water, without emotions and without interest appeals. But technically, we still have a long way to go.
decentralized cult
decentralized cult
Web3 is an important topic of discussion in the Crypto market in 2021. Decentralization is our holy grail, but decentralized people often fall into the decentralized cult, ignoring that whether it is decentralization or centralization, they are ultimately responsible to the market and users.
A very ironic fact is that Defi, which will lead the victory of decentralization in 2020, has a centralized spiritual core.
The two pillars of Defi, DEX and Lend, both use centralized Pools to improve liquidity.
The traditional model is the NN order matching model, which will encounter a negative cycle of liquidity exhaustion. Fewer borrowing orders will lead to fewer loan selling orders, which in turn will lead to fewer borrowing orders. NN can match needs more accurately, but consumes more matching energy of traders.
AMM Lending Model
The AMM model, through the N-1-N model, collects the buy (debit) order and the sell (credit) order into 1. The biggest advantage of this is that traders get huge transaction certainty, Save with energy. Although he could not match a more accurate counterparty, from the perspective of the principle of large numbers, he also obtained the average result in the market, Not Bad.
This model has generated great vitality in solving the long-tail problem of the Crypto market, which is a very important factor for the rise of DeFi.
Of course, the rise of Defi is not only about this, but also other factors, which are not listed here.It can be seen that,
The core of AMMs design is collection and centralization. And liquidity needs to be gathered in a center with Matthew value. Defi defeated centralization with centralization, which is probably the biggest irony of decentralized cults.
Is centralization necessarily the devil? Cant they be the polar opposites in Web3? Or are there more centered options beyond the poles.
cost! cost! cost!
When we used to do it in the factory, the dust-free workshop of the factory had air cleanliness requirements. Our previous customers were part of the supply chain of the mobile phone industry, basically a thousand level is enough.
The air cleanliness of semiconductor factories is required to be 100,000 or 1,000,000. For industrial practitioners, this is entirely a cost and necessity consideration.
When EOS was the most popular Dapp in 2018, 90% of it ran on gambling. The speed and transaction volume of EOS far exceeded that of ETH. The data of EOS nodes expanded very fast, and the problem came. Are there so many Dice dice result data stored on the network?
On the main axis of investment in 2021, there is a very important high-speed new public chain, a large part of which is compatible with EVM, including 21 nodes of BSC, 100 nodes of Polygon, 44 nodes of Fantom, and 300,000 nodes of ETH Well, theyre too decentralized, but these users dont care. Even in the large-scale hacking incidents on BSC and HECO in 2021, the community still has voices, hoping that Binance and Huobi will conduct centralized supervision.
We can completely understand BSC from another angle, it is a small Binance that publicly displays transaction data.
No matter how we understand it, needs and users are facts. Even in January 2022, when the external capital market and the Crypto market were generally depressed due to interest rate hikes, Pancakeswap was still No. 2 among decentralized exchanges.
3AC’s su zhu reflected on his conversation with Hasu in 2021, “An early player of Bitcoin and Ethereum like me is very likely to make a mistake, which is to become an extremist.” The current situation of Ethereum and 17 years Much like Bitcoin, new users dont necessarily have to choose them, even though they are indeed the best public chain. For the public chain, the acquisition of new users is very important, and Ethereum cannot do this now. When we go to a restaurant to eat, if we are worried about their food safety, do we hope that their chef is elected by DAO, or choose a transparent kitchen solution.
blockchain game
blockchain game
blockchain game
All blockchain metaverses are self-promotion, and all blockchain metaverses at the current stage are just blockchain games.
Then we pull it down from the altar not to criticize it, but to better understand and face it.
People who really love life are those who have seen the dark side of society and still love life.
From Mediums Triumph to Subset Parent
From Mediums Triumph to Subset Parent
The history of vibrato is a history of media changes.
In the dissemination of video content, the media has been advancing with technology.
We first used television to distribute video content. In the TV era, video production is a high-cost industrial content that requires the support of a professional industrial team. Video content needs to go through expensive recording equipment and professional editing and editing teams, and then deliver it to every family through the cable TV network. .
In the process, the attention of the post-80s and 90s generation gradually shifted away from TV.
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In 2010, with the iterative development of smartphones and the deployment of 4G networks, we suddenly discovered that the threshold for video creation has become extremely low. It only takes a mobile phone and an app to download, and anyone can become a creator. Douyin and Kuaishou have become the children of the new era.
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Kuaishou/Bilibili net red handmade GengIn this story, the protagonists of the three eras all exist to meet the needs of human video content.
The final winner is the solution that provides the lowest threshold and the most inclusiveness.From TV, to Youku Tudou, and then to Douyin Kuaishou, every technological iteration brings lower threshold,
Both bring new parent sets, the parent set of the current generation becomes a subset of the next generation.
In Douyins popularity list, we will see traditional media content such as Peoples Daily and CCTV News, as well as celebrities such as Andy Lau and Chen He, as well as crazy young brother Yang and crazy sisters. Internet celebrities that are not seen in traditional media. Geng Geng and Mr. Zhang, these grassroots students held a meeting with a mobile phone and set off on the road of Internet celebrity.
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vibrato rankingsGenius cannot be industrialized,Genius and talent are Gods dice, and the fairness of probability theory.
And the greatest significance of a creative platform without threshold is to include all the seeds in the world. Platforms such as Douyin Kuaishou are compatible with the content contained in the previous carrier.
So Uniswap will win, Opensea will win, tokens will win, and Web3 will win. This kind of victory lies in a more inclusive mentality, not life and death.
Uniswap has created a threshold-free DeFi market, including all token liquidity, good and bad, and every dog is SHIBA.
Token Economy - Value Superset
Token Economy - Value Superset
What are tokens? Tokens are the best measure of value out there.
Currency is a measure of things that are traded and issued by the state.
A stock is a measure of a companys shares issued on a stock exchange.
Points are a measure of user behavior issued by the company.
Tokens are a superset of the above subsets, and tokens allow any person or entity to issue a measure of anything.
In this system, China can issue digital renminbi, the United States can issue digital dollars, TEDA can issue USDT that is partially mortgaged without supervision, and Circle can issue USDC under the legal regulatory framework.
Regardless of the conflict of interests of the parties.
The characteristic of currency is cutting. Electronic currency can be cut and circulated more conveniently, while the characteristic of digital currency is more convenient to cut and circulate without time limit.
China Banknote Group, the largest banknote printing and minting company in the world, has encountered the problem of overcapacity since 2015. With the rise of mobile payment and the replacement of paper currency by electronic currency, the torrent of history has ruthlessly chosen a newer wheel.
Digital currency is a new paradigm shift, only discussing technology, it has now become a new parent set.And interestingly, the characteristics of digital currency lead to new problems:。
securitization of money, monetization of securities
Currencies such as BTC/LTC were originally designed as currencies, but because there is no supply and demand adjustment plan for market demand, they are set at a fixed total amount at the beginning, and market demand will lead to currency price fluctuations. In the process, it gradually loses its currency attributes. Rather, it is more about the attributes of assets and securities. 2017 was the year when ICO became popular. In 2017, many project parties accepted BTC and ETH as financing currencies. After the DeFi bull market in 2020, the blockchain primary market is also very hot, but stable coins are generally used as Funding currency.
The current blockchain currencies are all securities, although they are generally defined as application tokens. Securities in the traditional market cannot be directly used as a payment tool, but due to the unlimited cutting characteristics and 24H online of digital securities, it has the attribute of currency.
The Value of Tokens--Time Magic Hand
The Value of Tokens--Time Magic Hand
The Dutch East India Company was the worlds first joint-stock company established in the form of capital raising. Since then, this form of organization has been widely popular in countries all over the capitalist world.
People are living against the law of entropy increase, and life lives on negative entropy. — Schrödinger
The establishment of order needs to consume energy, and the most wonderful thing about the shareholding system is to borrow energy from the future to use in the present through credit, to establish order, and order to regenerate energy. This is a common positive cycle drive of Crypto that spans time and space. This is The magic hand of making friends out of thin air. And tokens are better magic hands.
In 2014, Didi and Kuaidi launched the craziest subsidy war in the history of the Internet. For a period of time after that, Didi burned a total of 150 billion yuan before it could temporarily secure its status as a travel empire.
In addition to this most typical case, the subsidy war on the Internet has never stopped in terms of group buying, food delivery, and shared bicycles.
And all these subsidies are first obtained by unicorn companies through capital market financing, and after they monopolize the market, users pay for them.
Sell shares (capital negotiation, time cost + discount cost)--coupon--user
Token--User
Taking Lookshare, which was popular on the NFT Marketplace before, as an example, it can be seen that Looksshare achieved 250% of Openseas transaction volume with 5% of Openseas users. From the Collection point of view, brush volume transactions accounted for 99%.
Looksrare vs Opensea 20210116
It must be explained here that this judgment is somewhat subjective. It is judged that the top 5 NFT series in Lookshare trading volume have no royalties, and these 5 series are not ranked in the top 50 in Openseas 24H Vol. Looksares sixth NFT series is Bored Ape Yacht Club, which requires a royalty of 2.5%, Lookshare 24H Vol 350ETH, and Opensea 24H Vol 1537ETH in the same period.
Looks Collection 20220116
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Transaction mining is stimulated by short-term transaction volume mining to obtain a very good-looking data surface, but the good-looking data surface cannot directly attract and retain users.
Liquidity mining can directly increase liquidity, reduce the slippage of AMM DEX, and reduce the loan interest rate of AMM Lend, which can directly attract and retain users.
We do not believe that transaction mining is a long-term beneficial token economic design. Many project parties did not think clearly when designing. The price of the magic hand of the token is debt. If the network effect cannot be established through token incentives, the rolling debt will become a black hole that will bite the project party. Those who are interested can search for the latest data of the above examples by themselves. This is a nonsense off topic.
Back to the topic The reason why we spent a lot of time talking about tokens is to explain our point of view. We believe that good token design can help blockchain game projects to quickly and low-cost cold start. And this is also a major problem in the current game, traffic and channel costs.
open economy
open economy
Blockchain projects become de facto global economies.
Blockchain projects generally issue tokens, which represent the right to issue tokens. If the law allows, no large entity will refuse to expand the boundaries of its capabilities. Historically, the Dutch East India Company had its own currency and army. But in a regulatory environment, traditional Web2 entities are restricted from doing so. The Libra project of Facebook (now renamed Meta) in the United States was officially suspended by the US Congress. In Chinas regulatory environment, although Tencent and Alibaba have internal blockchain research departments, they will not have the courage to try or speak out through public channels.
China does not recognize the currency status of digital currency and defines it as a commodity. The United States regarded Bitcoin as Money in a federal court case in July 2020, but there is no official definition of BTCs currency status.
The vast majority of countries in the world do not recognize the currency status of digital currencies, let alone allow digital currencies to be used for payment within their legal jurisdictions.
In terms of monetary aggregates, BTC countries are currently among the top 15 countries in the world.
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Global Fiat Currency Market Value Ranking 2021
Coinbase last disclosed 56 million registered users. In July 2020, Huobi disclosed that it had 15 million users. In July 2020, Okex (now Okx) disclosed 20 million users. Crypto.com reports data that as of June 2021, the number of cryptocurrency users worldwide has reached 221 million. It is conservatively estimated that there are 100 million users in the global Crypto market. In terms of population, the Crypto country is currently the top 14 countries in the world.
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World Population 2021
The original Crypto start-ups have grown up in this de facto broadband hinterland, where the legal definition is deaf and dumb, and supervision is difficult. They can unscrupulously exercise the right to issue currency in the Crypto country.
Here I would like to ask Uniswap, Aave and Opensea on behalf of the two major governments of China and the United States, have you paid taxes?
Crypto earning users, have you paid your taxes? Crypto VCs, have you paid taxes?
Under the new paradigm, the blockchain game project party has the opportunity to rely on a huge barrier-free user base to become a de facto new global free circulation economy, and has the right to mint coins prohibited by the original national subject.Although Crypto games are currently facing the problem of limited number of users, Axie, the largest blockchain game at present, has 27,000 active users including gold mining users, which is a huge difference from the global game users. The Crypto market is currently dominated by speculators and investment users, and due to the use threshold of the decentralized account system of the blockchain, the user base of blockchain games is limited.
But our two main constraints will improve over time, as the time from 2017 to 2022 has demonstrated.
The ensuing challenge is that the right to issue coins makes each blockchain game a real economy. Even if you don’t want to be a project party designed by Ponzi’s Gamefi, you must not invest time in the economic design of the game. , but not many project parties have economic design capabilities. Edward Castronovas Virtual Economics discusses the faucet and sink mechanism of many games. Eve is a typical example of good virtual economy design.
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Eve Online economic ecology organized by Twitter user Aiko
Free Market--Self-Evolution of the Market
Free Market--Self-Evolution of the Market
A typical blockchain supports the free flow of NFT and the free circulation of tokens. This is completely opposite to the current mainstream game props and game currency that must be circulated within the control of game operators.Its like the difference between a free trade body and a planned economy.
The advantage of a planned economy is that the controlling party can increase the profit rate through monopoly and obtain higher profits. And open economies open up and provide lower tax rates, which stimulate overall economic prosperity to obtain more total profits. It sounds like a trading port like Hong Kong.
This is a typical escape process of second-tier Defi projects. In the past year, we have seen many such TVL escape curve projects, while the leading projects in the same period still maintained a steady appeal.
BSC leading project Pancakeswap TVL curve
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TVL curve of a BSC second-tier Defi project
Dont think that North Koreas closed management means that the management is a fools behavior, otherwise South Koreas defectors will be overcrowded.
The Crypto market is a market with transparent information and transparent capital flow, and its evolution is very fast.
When I was in college, it was more than ten years ago, when we went to buy clothes, we often had to bargain with merchants. Bargaining is a very painful time for an otaku like me. For a person who is not familiar with the clothing market and is at a disadvantage in information, he has to pay a lot of matching costs. But now we have long been accustomed to the pricing method of clearly marked prices.
The market is evolving, and users will vote with their feet. Information transparency does not have the soil of the lemon market.
High stickiness and willingness to pay
High stickiness and willingness to pay
Psychologists Scott Rigby and Richard Ryan have done a lot of research, and they believe that there are three instinctive motivations for playing games in humans:
Autonomy: Players feel that they own themselves in the game world and that individual decisions matter.
Competitiveness: Players believe that they can accomplish what they want to do in the game world, and that they can control the entire process.
Relevance: The player feels connected to a social world that pays attention to and justifies his actions.
From the perspective of capital, it is currently a digital currency bear market that is generally recognized by the community, and Gamefi has passed the hype period, so the data of the current blockchain game Axie is worth observing.
Axie internal trading market data 24H 20220223
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Dappradar: Axie user data 20220223
This means a daily transaction volume of US$780,000 per capita.
Composability
Composability
Composability
Blockchain games in the free market generally carry out NFT of game assets.The full name of NFT is Non-Fungible Token, which refers to non-homogeneous tokens and is the only encrypted currency token used to represent digital assets.
The main function of NFT is to provide proof of ownership, mainly in non-standard products.The scarcity of NFT that is often mentioned in the market is a wrong or inaccurate expression. A certain NFT can have scarcity in this NFT series, which can be designed by the NFT issuer. but
As a recording tool, NFT can only record this scarcity or non-scarcity.
As a recording tool for proof of ownership, NFT is already very easy to use and has a broad consensus. Under this premise, different companies do not need to reinvent the wheel and get caught in complicated negotiations and rule-making.
The NFTization of assets has expanded the composability of blockchain games.
There are a large number of application cases of composability in Defi. Curve is one of the typical.
Curve Pool 20220223
Many algorithmic stablecoins establish liquidity based on Crv, and the establishment of these liquidity does not require too much commercial communication, and there is no threshold for cooperation between the two, and there is no friction.
DefiLlama: Ethereum TVL 20220223
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This has accelerated the establishment of the entire Curve liquidity empire. Curve is not born in the sky, and it is as stable as the eternal night.
CVX, which ranks third in Ethereum TVL, just released the liquidity of veCRV voting rights (locked), and gained its current market position in the third place in TVL.
Composability is another interpretation of the value without threshold. Ice, water and steam are the three states of a substance, and the vapor state without resistance can quickly blend with other substances.
In the field of blockchain games, we have also seen interesting attempts.
The convergence of characters from different works is a very interesting product design in the game field. Switchs 2021 sales ranking tenth is Nintendo All-Star Smash Bros.
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Korong, a well-known Japanese game company, has also done a similar operation, mixing the characters of Three Kingdoms Warriors and Warring States Warriors to make Warriors Warriors.
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Peerless Orochi
Among the top players, Spielberg took the tribute to the extreme, from movies to games, animation, music, etc., and made a comprehensive tribute to the popular culture of the 1980s. Most of the characters or elements appearing in this are movies produced/bought by Warner Films, Spielbergs own movies or friends movies, and Warner Bros. Game Companys own/signed cooperation copyrights. The Altman in the original novel in the number one player was replaced by Warners own Iron Giant because of copyright issues.
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Ready Player One Tribute Blade Runner Poster
economic prosperity of ucg
UCGs Economic Prosperity
Genius and talent cannot be mass-produced. Robloxs open engine provides creators with a lower creation threshold. In 2020, the total income of 345,000 developers on Roblox exceeds 250 million US dollars. These economic incentives are like water flow, constantly watering these seeds and making them grow bigger and bigger. There is no way to form an industry by using love to generate electricity.
Economic incentives positively stimulate content output and prosper the entire ecology. Under the token economy system, the circulation of money is faster, and even many platforms provide creator token rewards to better tie creators to the future of the platform.
Gameplay and Flow
Gameplay and FlowWe have seen that many blockchain games still use numerical values as an important payment system when designing, and in the design process, due to the characteristics of tokens, they often go in the direction of Ponzi. This Ponzi design is full of huge damage to blockchain games.
In terms of the design of the soul game I like to play recently, the game settings of super high difficulty and few save points will discourage many players, but this anti-human design makes some players who persist, after repeated Practice, when you defeat the BOSS that kills the player N times, you can get a huge flow satisfaction. The integrity of this design is amazing.
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epilogue
epilogue
epilogue
As an investment institution, we look at Metaverse and games from an investment perspective. our mind is
In the early days of any speculation, the price of belief is small.
In the midst of any frenzy, the payoff for doubt is plentiful.
When we are discussing investing in Crypto, we should not forget that the super-high multiple returns that Crypto people talk about, a large part of it comes from the irregular market and Fomos emotions, which bring price impulses that are far greater than The underlying innovation of blockchain.
However, we should not forget its original cause because of these bubbles. BTC has experienced the cold winter of 2018 and 2019, hitting a new high of 60,000 US dollars. The ICO bubble of ETH has burst, which does not prevent DeFi users from using Uniswap silently in 2019. God arranged Airdrop for them as a Christmas gift somewhere. We firmly believe in the right things, and will not change because of bubbles and chaos. Toast the blockchain, iteration and evolution.
Qualcomm CEO Cristiano Amon revealed in a live broadcast that Oculus Quest 2 sales have reached 10 million units. The evolution of technology and the market is a spiral. In the foreseeable future, large-scale commercial use of VR equipment It will detonate the explosion of VR content, and the explosion of VR content will continue to promote the improvement of VR equipment.
In the foreseeable future, we believe that blockchain games and the metaverse will still be a very important sector of the blockchain industry.
