What are people's views on the long-term value of NFTs? There are many more interesting aspects of blockchain-based virtual worlds and sexual zones. Earlier, I noticed that Dapps could issue similar digital currencies to their networks and users. These digital currencies are not issued to gain computing power (like Bitcoin and Ethereum transaction processing), they also serve as a reward for donating time and developing new users (customer acquisition, data input, knowledge Reward users with property rights, capital, bandwidth, good behavior (such as community ratings), help with regulation, etc. When rewarding these digital currencies to users, governance rights can be rewarded to users together. Of course, they may also want to have basic projects Appreciate together. Each user (i.e. player) can usually also purchase these digital currencies to benefit when their favorite game economy succeeds.
The developers believe this model can reduce investors' capital requirements, deepen their relationship with the community, and significantly increase user stickiness. Generally speaking, you don’t have to use blockchain technology to have a gaming experience, but many believe that the “trustless”, “permissionless” and “frictionless” structure of blockchain technology will make this experience possible. More likely to succeed and thrive. Most importantly, such an impact is sustainable. This sustainability stems not only from increased user engagement and ownership of applications, but also from the way blockchain prevents applications from betraying user trust and empowers applications to earn user trust.
When the scale of these technologies is large enough, even the most successful game developers in the pre-blockchain era will find that the economic volume these technologies can create is huge and crucial in competition. Therefore, these game developers will open up the economy and account system to a system that is not owned by competitors but owned by the game community. At this time, the above transition will be easier.
DAO , the rising decentralized autonomous organization
However, the most disruptive aspect of digitally native “programmable” payment channels is the way they enable greater independent collaboration and easier financing of new projects. Structurally, this is no different from anything I've discussed so far, but it's important to understand it in its broader context.
Smart contracts can be completed in minutes and are suitable for almost all scenarios. They can be small short-term contracts or large long-term contracts. Many independent authors and journalists use smart contracts to fund their research, investigations, and writing—advancing future income, but with the advance being provided by the community rather than the company. When complete, their creations are resold on the blockchain, or placed behind an encrypted paywall, with proceeds shared among their patrons. There are also cases where a group of writers issue tokens to raise funds for a new, in-progress magazine, which is then only available to token holders. Additionally, there are writers who use smart contracts to automatically share proceeds with those who have helped or inspired them. All of these smart contracts are drawn up without requiring a credit card number, entering ACH details, invoices, or even a lot of time, just a crypto wallet filled with cryptocurrency.
Some see smart contracts as the Metaverse era version of LLCs or non-profit organizations. People can write smart contracts and get immediate access to funds without having to be involved in signing documents, performing credit checks, confirming payments or assigning bank account permissions, hiring lawyers, or even knowing the identities of other participants. More importantly, smart contracts use a trustless approach to continuously manage many administrative tasks of the organization, including the distribution of ownership, the calculation of charter votes, the distribution of income, etc. These organizations are often referred to as "decentralized autonomous organizations" (Decentralized Autonomous Organizations, DAO).
In fact, many of the most expensive NFTs were purchased not by individuals, but by DAOs composed of dozens (and in some cases, thousands) of anonymous crypto users who could not afford to do so on their own. Can't afford exorbitant fees. Using the DAO's digital currency, the collective can determine when and at what minimum price these NFTs will be sold, while also managing payments.
Expensive and slow, two major obstacles to blockchain development
The potential blockchain revolution still faces many obstacles. The most important thing to worry about is that blockchain transaction fees are still too expensive and the transaction process is slow. As a result, most “blockchain games” and “blockchain experiences” still primarily run on non-blockchain databases. Therefore, they are not truly decentralized.
Given the computational demands of rendering 3D virtual worlds in real-time at scale, and their need for ultra-low latency, some experts remain skeptical about whether we can fully achieve decentralization, let alone realize the Metaverse. In other words, if computing is scarce and reaching the speed of light is still a challenge. So how could it possibly be meaningful to perform the same "job" countless times and wait for the global network to agree on the correct answer? And, even if we could do that, wouldn't the energy consumed by these virtual worlds melt the planet?
This may be too shallow a view, but there are a variety of different viewpoints on this topic. Many believe that key technical issues will be resolved in time. Ethereum, for example, will continue to reform its verification process so that network participants can perform less work (keywordly less repetitive work), and its energy use per transaction has dropped below that of the Bitcoin blockchain 1/10 of that. Layer 2 blockchains and sidechains are also proliferating, making up for many of Ethereum’s shortcomings with newer layer 1 blockchains.
In most countries, DAOs and smart contracts are not recognized by law. Although this situation has begun to change, legal recognition alone is not a complete solution. People often say “Blockchain can’t lie” or “Blockchain can’t lie”. This may be true, but users can trick the blockchain.