The post Interoperability in the Metaverse: Preserving Digital Assets’ Value appeared on BitcoinEthereumNews.com.

Interoperability is becoming increasingly significant in the expanding metaverse space. The previous generation of web3 and metaverse games suffered extensively due to the lack of cross-platform compatibility. However, new developments in interoperability are breaking these siloes and allowing platforms to offer a more immersive experience. BeInCrypto talks to Ilman Shazhaev, Founder and CEO of Farcana, about how we engage with virtual worlds and nurture the next stage of digital evolution. Breaking Siloed Gaming Ecosystems Lack of true ownership has been a persistent issue in traditional gaming. Players spend countless hours and precious dollars building characters and assets, only to have them locked within one game. This issue also carried over to the metaverse to some extent. Having one’s assets locked within a single blockchain network leads to the same old issue of exclusion and limited user experience. So, this barricade must be broken for the metaverse to thrive and offer immersive experiences, which is the true essence of this technology. Interoperability addresses this issue by allowing assets, achievements, and identities to move across platforms and networks, transforming engagement with virtual worlds. This approach empowers players and lays the foundation for a connected metaverse ecosystem where digital assets hold real-world value. “Blockchain gives players control over their virtual items across various environments, unlike traditional gaming where purchases are locked to a single account or platform,” Ilman Shazhaev, Founder and CEO of Farcana, told BeInCrypto in an interview. Breaking Barriers with Blockchain Tokenization lies at the heart of interoperability in the metaverse. Tokenizing assets as NFTs makes in-game items like avatars and weapons unique and portable across platforms. Tokenization turns these items into valuable digital assets players can use, trade, sell, or rent across environments. “This eliminates the trend of valueless microtransactions that we see in so many AAA games today. You’ve…

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Filed under: News - @ November 29, 2024 2:12 am