Interoperability is becoming increasingly important in the expanding metaverse. The previous generation of web3 and metaverse games suffered greatly from lack of cross-platform compatibility.
However, new developments in interoperability are breaking down these barriers and allowing platforms to provide more multi-dimensional experiences. TinTucBitcoin interviewed Ilman Shazhaev, Founder and CEO of Farcana, about how we interact with the virtual world and drive the next stage of digital evolution.
Disrupting silo-style gaming ecosystems
The lack of true ownership has been a persistent problem in the traditional gaming industry. Players spend hours and precious dollars building characters and assets, only to be limited to a single game. This problem also somewhat exists in the metaverse.
Having assets locked in a single blockchain network leads to the same old problems of exclusion and limited user experience. Therefore, this barrier needs to be broken so that the metaverse can develop and provide multi-dimensional experiences, which is the true nature of this technology.
Interoperability solves this problem by allowing assets, achievements, and identities to move across platforms and networks, transforming how to participate in the virtual world. This approach empowers players and lays the foundation for a connected metaverse ecosystem where digital assets have real value.
“Blockchain gives players control over their virtual items across different environments, unlike traditional games, where purchases are locked to a single account or platform,” Ilman Shazhaev, Founder and CEO of Farcana, shared with TinTucBitcoin 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 characters and weapons unique and portable across platforms. This tokenization turns these items into valuable digital assets that players can use, trade, sell or rent across environments.
“This eliminates the trend of low-value transactions we see in so many AAA games today. You’ve reached a new level and unlocked a new skin, but what’s its value? Blockchain helps players extract value from their in-game assets,” said Shazhaev.
Platforms like Farcana illustrate how blockchain integrates interoperability into gaming. Farcana allows players to tokenize in-game assets, turning them into something that can be traded or used through other compatible environments. Similarly, Decentraland has taken this idea further by allowing users to move characters, virtual real estate, and other items to different metaverse platforms.
This functionality increases user engagement, creating broader ecosystems where time and effort invested in one space can be transferred elsewhere.
In-game assets give players a richer and more meaningful gaming experience. However, according to one survey from EY-Parthenon, gaming assets are not among the most loved digital assets. When repeating the survey between 2022 and 2024, gaming assets grew by only 4% and ranked 7th. With increased interactivity, gamers will be more inclined to invest if it means increasing enhance value for money spent.
Developers also benefit from interoperability. By connecting their games to broader ecosystems, they can attract a more diverse audience and create new revenue streams. For example, Farcana has expanded its in-game economy with a marketplace where players can trade items or contribute to prizes.
Similarly, Decentraland hosts a series of unique events every week, demonstrating through its growing number of users, how interoperability drives participating ecosystems.
The Challenge in Achieving Interoperability
While interoperability promises a new era of gaming experiences and the metaverse, it also faces significant challenges. Scalability remains an important issue.
As of 2023, Ethereum, the leading blockchain in gaming, can only handle 15 to 30 transactions per second (TPS), compared to 193 TPS on its network. PayPal. This difference results in higher transaction costs and slower processing times, which can disrupt smooth gameplay.
Complexity is also a major obstacle. Blockchain games often require players to set up wallets, purchase tokens, and manage digital assets. According to a 2024 report, 10% of all traditional gamers pointed out This complexity acts as a deterrent to the adoption of blockchain-based games.
Overcoming these challenges will require developers to improve registration processes while preserving blockchain’s core benefits of transparency, security, and ownership.
Awareness also remains a barrier. Many players still associate blockchain games with speculative behavior and financial motives, considering them less exciting than traditional games. Shazhaev reflects on this transition:
“Developers are now optimizing play frameworks for monetization to focus on creating sustainable ecosystems that prioritize gaming quality over short-term financial returns,” he added.
By focusing on experiences that prioritize gameplay, developers can address skepticism and encourage long-term engagement.
Despite these challenges, the future of interoperability is bright. Unified marketplaces could soon allow players to trade assets between different platforms seamlessly, creating liquidity and long-term value for digital items.
Dynamic assets, or items whose functionality is adapted based on the platform or game, are another promising development. Imagine a sword possessed in a fantasy RPG that could become a decoration in a virtual house or a tool in a survival game. This is what a truly multi-dimensional experience should look like.
These developments are consistent with broader trends in the gaming market. Investment in blockchain games has exploded, reach level 1.1 billion USD in the second quarter of 2024, an increase of 314% compared to the previous quarter. This rapid increase in capital shows strong confidence in the future of blockchain-based interoperability.
According to Statista, the projected size of the metaverse gaming market is expected to explode by 2030, reaching $168 billion in market capitalization.
Shazhaev envisions a connected metaverse where both players and developers benefit from these advances:
“Blockchain allows us to build ecosystems where players and developers both benefit, opening up new opportunities for participation and innovation,” he concluded.
Overall, interactivity represents a fundamental change in the way games and the metaverse operate. By breaking down silos and enabling cross-platform connectivity, blockchain-powered interoperability is transforming disparate digital experiences into a collaborative and collaborative virtual universe.
Projects like Farcana and Decentraland are leading the way, demonstrating how blockchain can empower players and developers. However, challenges such as scalability, complexity, and cognitive issues need to be addressed to achieve widespread adoption.
As blockchain technology develops, interoperability will play a central role in shaping the future of the metaverse. Integrating such technologies could enable game rooms to deliver increasingly rich and limitless experiences, changing the way we interact with digital spaces.