Interoperability: Essential For Sustaining Identities in The Metaverse
Humans are constantly looking for ways to improve their adaptability and convenience. This has resulted in several advancements throughout the years, with ideas evolving into concepts and concepts evolving into a way of life. The Metaverse is a more contemporary example of such adaptability, a concept that seeks to bridge the gap between our physical and virtual worlds through the interaction of multiple technologies such as augmented reality (AR), virtual reality (VR), and blockchain.
As brands and individuals join the frenzy to explore the prospects and have their identities and enterprises anchored in the Metaverse, it is critical to recognize that it is still in its early phases and, as such, has flaws and limitations. One of the constraints that prevent a truly inclusive metaverse from being realized is the interoperability of these virtual worlds.
What is Interoperability?
Interoperability is the interaction of different systems, devices, applications, or products to share and use data interchangeably and consistently. Interoperability helps integrate individual features or ideas into a larger system of interconnected processes for a smoother experience. For instance, browsers can open and interact with multiple webpage sites while maintaining the browser’s identity, which in this case is the IP address.
Interoperability in the cryptocurrency sector allows blockchain ecosystems to interact, giving access to a wider array of data, functions, DApps, and services. Wallet cross-chain compatibility which allows the storage of multiple coins and tokens from different blockchains is a good example of interoperability.
What is Metaverse Interoperability?
The advent of the Metaverse has brought about the emergence of Digital real estate, Metaverse gaming, marketplaces, digital twin technology, and other innovations across different virtual realities to further integrate real-world concepts with real-world value and impact.
A truly encompassing digital world experience with different social, economic, and cultural aspects can only be achieved when Virtual worlds can interact with one another, and people can maintain their digital assets like their NFTs, real estate, and avatars across digital worlds while exploring the Metaverse.
The first use case for interoperability is to allow the trade of digital assets like real estate parcels and NFTs across different virtual worlds. This will allow creators to distribute their creations more widely and reach an even larger audience, as well as give users access to a greater variety of digital assets.
Interoperability of Digital Assets
We’ve had many years now of virtual worlds that are walled gardens, where you can’t take your digital assets with you. But the rise of blockchain technology has changed the game. The interoperability between blockchains and metaverses means we will soon have an open market where all kinds of digital assets (real estate parcels, NFTs, digital collectibles) are tradable across multiple platforms. This will make it easier to create content and reach an audience; it will also make it easier for users to get what they want and need out of their virtual experiences. Interoperability is a key feature in building a vibrant new ecosystem for creators and consumers alike.
Digital assets like real estate have been known to be a very popular aspect of the metaverse with big names like Decentraland and the Sandbox, who are early adopters of the concept. Referencing these names and what they offer will give a better insight into what digital real estate are and why their interoperability is significant.
Decentraland is a top Metaverse platform that is home to an array of users, brands, games, and businesses, resulting in an ever-increasing range of concepts and products to accommodate such a diverse crowd. The platform is home to different trade of NFTs and gaming collectively, event hosting and collectible designing. Users are able to buy the platform’s digital asset called LAND, which is used to acquire ownership of a specific place that can be used to host events, rent, stake or sell.
Decentraland operates on a decentralized system meaning that there is no central authority and users have full ownership. They can trade land, create marketplaces, rent spaces and set up any kind of business for profit.
Another early adopter of the Metaverse, and 3rd largest by market cap, the Sandbox is a virtual world where technical and non-technical users can monetize their real estate assets and games which can be built using tools like VoxEdit and Game maker within the platform. LAND is also used to acquire ownership of an area, SAND is an ERC20 token used to transact and interact within the platform, and the ERC-1155 token is used for gaming similarly as used in Axie infinity which runs on the Ethereum blockchain.
Users can play games, customize avatars, purchase equipment, interact with marketplaces, stake, and even have voting rights for decisions that concern the governance of the platform.
Efforts are being geared continuously to ensure that these different aspects of the virtual world are interoperable and can be integrated into one another.
Landz NFT breaks the virtual wall barrier. Landz, the first interoperable real estate NFT collection in the Metaverse, offers new and existing Metaverse users a personalized, inclusive, and engaging web3 experience. The project offers digital mansions, headquarters, and museums for users to showcase, customize, and trade assets or establish virtual identities.
This digital item can be merged with other virtual worlds once purchased. Landz asset owners can acquire LAND on Decentraland to make their assets interoperable. This allows users to access services in both worlds while preserving their web3 identity, avatar, wallet, and assets, creating a genuine digital world experience.
The Loot Projects
The Loot project is another NFT project that supports interoperable digital assets across virtual spaces. The Loot Project provides 8000 randomized loots—adventurer gears—as NFTs with traditional RPG games. The developers of the digital item gave no instructions on how the items would be used but rather, left it to the discretion and creativity of game creators and players to make use of them in their games as they see fit.
Unlike some in-game items, owning an NFT from a project like this can allow a player to use the item across any game where it is incorporated. This interoperability option gives gamers the satisfaction of maintaining their weapons, skin, and gear across the various games that they play within the metaverse.
How interoperability helps to sustain your identity
The goal of the Metaverse is to ultimately mirror the real world. In reality, you would travel to another country, enjoy the food, engage in social and cultural activities, and be affected by the economy and legal systems all while maintaining your unique identity.
Interoperability between virtual worlds means that real estate plots and NFTs can be traded easily across competing platforms, meaning your digital assets will retain their value even if you must leave one world for another. Your avatar can stay with you across multiple experiences, so you don’t have to keep building up your identity from scratch each time you enter a new world. It will also be possible for creators to build multi-user games where avatars can play together in one virtual space, no matter which company created the game.
In addition, interoperability makes it easier for creators of virtual worlds and metaverse content to create apps or other programs that can be used at multiple sites. This can lead to more creativity by developers and entrepreneurs who want to attract users through ease of use and familiarity with their online identities.
There’s no question that interoperability is the key to a vibrant market of digital assets. Without this standardization, there would be no way for players to effortlessly trade their virtual possessions across different virtual worlds while maintaining their individual identities. Interoperability is an important step toward the future of digital assets and virtual worlds, as well as the further advancement of metaverse technologies.