Key Takeaways
- LBank introduces MetaExpand (UMM) to connect metaverse apps and public blockchains, leveraging the rising demand for GameFi.
- The X to Earn model revolutionizes reward distribution by linking contributions to real money, aligning with DeFi principles.
- MetaExpand offers a suite of tools and development standards for easier metaverse app creation, along with an immersive game, ‘Jurassic Virus.’
As NFTs and blockchain technology continue to develop and evolve, GameFi’s demand amongst users is continuing to rise. In a similar development, today, LBank has announced the launch of its second GameFi-related project, MetaExpand (UMM). This new innovation is expected to bridge the gap within the metaverse, and we are here to provide you with all the intricate details.
The Development
According to the official report released by LBank, its first Launchpad PINS (Chat to Earn) has seen an increase of 1600% despite a bear market being present. With such development in hand, LBank is indeed not wrong in being positive about launching a second GameFi project. With MetaExpand, the platform aims to bridge gaps that exist between metaverse applications and public chains. However, how successful this new project will be, only time will tell.
X to Earn Model
LBank has credited its recent development’s demand to the market sentiment and expectations relating to the GameFi sector (also known as ‘X to Earn’). So, what exactly is the X to Earn model? Well, this system is based on the notion of reshaping the method through which rewards and incentives are distributed. It emphasizes that participants should earn rewards based on their actual behaviors or contributions, which can be converted into real money. This contrasts with traditional Web2 models, where rewards often come in the form of points or virtual items without a direct monetary value.
At its core, X to Earn represents a shift away from centralized control and aims to return control and financial benefits to individuals. It aligns with the broader DeFi movement, which seeks to create decentralized systems that empower users and enable them to earn value from their activities within a network or platform.
MetaExpand (UMM)
MetaExpand (UMM) is a groundbreaking initiative that effectively narrows the technological divide between public blockchains and metaverse applications. It provides a comprehensive suite of tools, including storage, communication, privacy, cross-chain compatibility, and transaction plugins.
Not to forget, It also holds development standards. These offerings simplify the creation of metaverse applications for developers and eliminate the need to grapple with the intricacies of underlying blockchain technology. Furthermore, MetaExpand’s immersive game, ‘Jurassic Virus,’ enables players to engage and explore within a multifaceted metaverse environment.
All in all, this development seems interesting and promising, but users are advised to exercise caution before making any investment. Given that the project is currently at a nascent stage, price volatility can be expected. Moreover, GameFi tokens tend to operate in unregulated space, which adds to the element of risk.
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