Build a metaverse in the Web 3 era with the fundamental cloud storage help from Genaro Network
Metaverse is a decentralised virtual world with a complete and nonstop economic system, in which users can simultaneously socialize, entertain, trade, and engage in all sorts of creations, etc. In the metaverse world, users can enjoy a convenient and immersive experience, while interacting with other users.
Its enormous potential has attracted attention from multiple industries. For instance, when Microsoft bought the video game publisher Activision for $70bn last week, media described this acquisition as “a bet on the metaverse”. Epic Games and Meta — formerly known as Facebook are also investing billions a year in the Metaverse concept. Using their already established footholds in both technology and social networking, both are taking enormous strides in making Stephenson’s metaverse into reality. There is no doubt that the metaverse will continue to develop rapidly in the foreseen future. According to a Bloomberg industry research report, the metaverse will reach a market size of US$800 billion by 2024, and PricewaterhouseCoopers further predicts that the figure can be US$1.5 trillion in 2030.
The metaverse visions held by the mainstream society resemble to what GameFi aims to bring alone, although the GameFi market differs from what Meta or Microsoft are aiming for. That is, both the metaverse and GameFi seek to build a virtual world that replicates the real world and enable users to participate in activities for both pleasure and financial reward.
The connection between Web 3, metaverse and cloud storage
During the Web 3 era, relevant information can be exchanged directly among different websites and therefore users no longer need to create multi-identities when using different centralized platforms. On the contrary, they can build their personal decentralized digital identity system that offers information to multiple webs through third-party platforms. This means that data is in control by users themselves and can be used among sites.
One of the most important highlights of Web 3 is that it provides the internet with one or more blockchain-oriented extra layers, enabling additional capabilities and constraints to the internet like wallet and payment function. Under these circumstances, people can truly own NFTs and transfer them to other platforms.
Web 3 turns metaverse into a place where users’ online footprints left and works created become data. And this great kingdom of data fully depends on a stable, reliable and secure data storage network. In metaverse, monetized virtual goods are protected by trusty blockchain storage, but once the protection fails, the goods would be turned into a worthless check.
When we talk about how CryptoPunk shows our identities, enjoy the P2E mole on Axie Infinity, or wonder about the future of metaverse, have we ever thought about where to store our data and whether that information could be tampered? Nobody wants an identity that costs tens of millions of dollars to be worthless because of data infringement or the chatting records lost because of some system crushes. We, standing in the era of explosive data growth, and at the beginning of metaverse and Web 3, badly desire a secure, open, free and reliable storage network.
Why does HyperVerse choose Genaro Network?
The Genaro Network is the first Blockchain 3.0 ecosystem built on a Turing-complete public chain with decentralized storage and provides blockchain developers with a one-stop solution to deploy smart contracts and store data simultaneously. In the ‘Blockchain 3.0’ era, developers directly develop DAPPs and thereby save a large amount of time. They will be also able to store their project data on the blockchain network in a way that is suitable for executions by smart contracts.
Genaro stands out from other storage solutions mainly from three aspects. Firstly, the consensus mechanism (SPoR+PoS) used by Genaro Network makes it unique, sustainable, and secure. Secondly, built solely on a PoS mechanism and around the first Turing-complete public chain with an integrated peer-to-peer storage network, it can solve PoW energy waste problems as well as the security issues of consensus. Lastly, with Genaro, blockchain developers will have access to a one-stop solution to deploy advanced smart contracts and store data simultaneously. Given these distinctive advantages of Genaro Network, HyperVerse aims to enjoy the infrastructure and underlying support by Genaro for its metaverse ecology. The two-tier intelligent data ecology of decentralized cloud storage and public chain will be more suitable for the development of the metaverse and the data application in Web 3
Standing at the intersection of Web 3 and the metaverse, HyperVerse well recognize the ever-increasing importance of data security and decentralized storage and is dedicated to building a metaverse consisting of multiple planets and space stations. It is ready to enter a period of rapid development. Together with the decentralised cloud storage system of Genaro Network — the fundamental infrastructure of the HyperVerse metaverse, we look forward to bringing improvement and optimisation to the metaverse and Web 3.