Web3 Gaming: 2022 and Beyond

Crypto Winter

According to the observations of GameFi in 2022, the ecosystem has already risen and fallen on the back of the 2021 NFT hype cycle. Early token rises and NFT mints were rewarded by the “NFT go up” mindset for games that were still in development and solely intended to provide players with an opportunity to earn money. 

Many P2E gaming projects that were released in the last 12 months include sustainable design rather than providing genuinely enjoyable play experiences. These games instead of holding the Ponzi schemes are controllable using WASD (The game controlling keys other than arrow keys).

As traditional equities and other assets saw a wider worldwide decline, the 2022 cryptocurrency market also had a severe correction. Investors have tightened their decisions to risk-on assets, such as cryptocurrencies, as a result of rising interest rates that are intended to fight inflation. With the exception of Web3 gaming, which is proving to be a significant factor in the global growth of blockchain and cryptocurrencies, venture capital funding in those industries has also somewhat decreased. Despite the weak market, blockchain gaming has been demonstrating its strength in these trying times. Blockchain games may receive over $10 billion in investments this year, more than tripling the US$4 billion raised in 2021, according to a report by market watcher DappRadar. To be precise, 2022 has been a significant year for growth, investment, and development in both web3 gaming and NFTs, indicating a fruitful crypto winter.

According to the Binance research, the situation at current leading Blockchains in Web3 gaming are:

Report: games on BNB Chain dominate GameFi industry in Q3

Moving forward let’s review some of the major topics and metrics that indicate the development of these markets in this 2022 Web3 Gaming report. Read below how these turning points handled the market slump and how things are shaping up for next year after a year of significant growth for cryptocurrency markets and increasing attention to the web3 gaming field in particular.

Web3 Gaming 

1. Gaming Model Switch

The gaming model transformation is partially a result of the game developers switching to concentrate on the game play aspect rather than the earning part. The phrase “play to earn” also establishes certain standards for the playerbase. In some regions of the world, playing Axie Infinity used to be a full-time job. However, their faltering economy made it clear that this was an unstable arrangement.

Developers started using the phrase “play AND earn” instead of “play to earn (P2E),” suggesting that you can make money while playing. Actually, this more closely reflects what true gamers desire. They prioritise enjoyable games. Additionally, if they manage to uncover a way to earn a little money while playing their games,

The problem gap arises when the small gaming startups embracing the new economic model and the profound AAA studios with high-calibre games devoted to a premium $60 price tag and paid subscriptions. But the twist comes as the AAA studios that are now converted to the wildly successful F2P(Free-to-Play) model. The difference between the rising P2E economic model and AAA game quality will eventually close.

Many studios and developers are working to create a Web3 game that is genuinely entertaining. Businesses are exercising a formula that is entertaining, equitable, and profitable for both the gamers and their creators of them.

Web3 gaming is not readily switching back to a free-to-play (F2P) model from a pay-to-earn (P2E) model, as both models can coexist in the web3 gaming space. However, there are a few reasons why some developers and players in the web3 gaming space are experimenting with F2P and other models such as play-to-play (P2P), Factory Models etc.:

Player engagement: F2P models give players the opportunity to earn rewards for their skill and effort, rather than just spending money. This can create a more engaging and satisfying experience for players.

Fairness: F2P models can be more inclusive and fair for players, as it allows everyone to access the game without spending money.

Revenue generation: F2P models can generate revenue through in-game purchases, while P2E models generate revenue through the sale of in-game assets or currency.

Community engagement: F2P models can build larger communities, as it’s more accessible to a wider range of players.

It’s worth noting that many developers and players are experimenting with different models to try and find the best balance between player engagement, revenue generation, and fairness.

2. Newly Launched Web3 Games in 2022

The top games with the most DAUs (Daily Active Users) in 2022 are listed by collective Research as follows:

3. 2022 As The Year of Alphas

An essential stage of development is the alpha release. In software development, reaching a working build that you’re ready to share with the public is a significant accomplishment. It’s encouraging to see so many alphas and betas released this year.

It is true that 2022 was the year of the alphas. Axes Metaverse, Mytheria, Everseed, Sunville Farms, Moonville Farms, Eternal Dragons, Big Time, Ancient Society, Phantom Galaxies, Star Atlas, Farsite, Spider Tanks, Mirandus, Legacy, Superior, War Park, Chicken Derby, Green Rabbit, Guild of Guardians, R-Planet: Conquest, Farming Tales, My Neighbor Alice, TreeVerse, Life Beyond, etc. are some examples of games that fall under the initial release category.

4. Web3 Gaming investments/Funding review

The Web3 gaming and metaverse sectors received a lot of investment from venture capital firms this year. But the overall amount of money invested in these sectors fell from $5.5 billion in 2021 to $3.7 billion in 2022. (Footprint Analytics).

Animoca Brands is the market leader as of the publication date of this study, having invested in 61 projects in the web3 gaming and Metaverse categories. They are followed by Shima Capital with 29 projects and Infinity Ventures Crypto with 30 projects (CoinMarketCap). Even if it is happening more slowly than in previous years, the number of Game-Fi projects is still increasing. Yat Siu, a co-founder of Animoca Brands, has also made plans to launch Animoca Capital, a $2 billion metaverse fund.

With a $50 million B round, indie gaming studio Theorycraft secured the largest investment of the month in September. The trend of well-known gaming firms and developers entering the Web3 area is evident, with the founding team including members of Blizzard, Riot Games, and Ubisoft (Cryptoslate).

In October, Ubisoft and Take-Two Interactive participated in a $40 million Series A fundraising round led by Horizon Blockchain Games, the company that created the video game Skyweaver (DappRadar). More recently, Web3 game producer Fenix Games secured $150 million in order to purchase, fund, and distribute blockchain games (DappRadar).

Despite the unpredictability and difficulty of the market in 2022, it is evident that investors are still upbeat about the future of the blockchain gaming sector. 

Number of GameFi Projects by Investor

5. Ecosystems and Web3 

Even if Axie Infinity and STEPN may have been the first projects to become widely popular, they are no longer the leading initiatives in the field. Alien Worlds and Splinterlands are the current leaders in terms of active users, with Alien Worlds claiming 131K average active users and Splinterlands closely trailing at 98K. Only the players of these two games account for almost 30% of all gamers on the web3 platform (Footprint Analytics).

The best performers in terms of transactions are WAX and Hive. The popularity of Alien Worlds and Splinterlands, which account for 54.55% and 99.85% of each platform’s overall users, respectively, is crucial to both of them as a blockchain technology (Footprint Analytics). BNB, the third-largest chain in terms of gamers and gaming transactions, hasn’t yet created a standout game in the genre.

Despite this, BNB Chain is still one of the gaming industry’s most resilient chains. With 299 new projects debuting on the platform in 2022 alone (excluding December) and a 37% market share in terms of web3 gaming protocols, BNB continues to dominate in terms of both new project launches and market share (Footprint Analytics). When it comes to new initiatives, Ethereum comes in second.

It is obvious that the world of cryptocurrency gaming is continuously changing, with new players appearing and established ones fading away. Although Splinterlands and Alien Worlds may currently be the dominant powers, the future is still uncertain.

6. Rise of Metaverse

The six basic elements that make up the Metaverse—blockchain, interactivity, games, AI, networks, and IoTs—are more popular than ever. According to Goldman Sachs, the potential Metaverse economy could represent an $8 trillion opportunity by 2022, according to Gartner, which recently designated the Metaverse one of the top five emerging trends and technologies for that year (Bitcoin.com). Due to the fact that gamers have long been participating in immersive virtual experiences and creating social ties, gaming is crucial to the growth of the Metaverse.

Ancient8 Web3 gaming analysis

Tokens

Sensational Projects In 2022

  1. Kiraverse: Built on Unreal Engine 5, is an online multiplayer game, which allows players from all over the world to participate, compete, and gain achievements to unlock or rent avatars, skins, weapons, and other items. Battle Royale and Elimination are the two game types that KIRAVERSE will debut with. To improve their gaming experience, players can acquire in-game achievements and own, buy, or rent characters, skins, weapons, and other items.
  2. Illuvium: A collectible 3D fantasy RPG game with 343k Twitter followers that has developed a substantial and devoted fan base. In addition to concluding a virtual land deal for over $72 million this year, Illuvium also just made the auto-battler game mode’s first private beta available. The game has received overwhelmingly positive reviews so far and has AAA visuals and gameplay.
  3. Shrapnel: The project has garnered a lot of interest from the public, particularly in the West. It is being developed by a team of seasoned developers that have won BAFTA and Emmy awards from series like HALO and Call of Duty. Shrapnel, which won “Most Anticipated Title” at the Polkastarter GAM3 Awards this year, is evidence that Web3 games’ quality will continue to rise.
  4. Big Time: A forthcoming multiplayer action role-playing game that is now in early access. This project’s aim of creating a “second-generation crypto game” in terms of its in-game economy has been obvious this year, among other things. Big Time recently unveiled full information on its token and economy, which aspires to build a player-driven circular economy.
  5. Tatsumeeko: A multi-chain MMORPG designed to “build communities and deepen worldly relationships” and based on the Tatsu.GG Gaming Bot in Discord. The Tatsumeeko proof-of-concept generated over $369K in microtransactions, surpassed 62K MAU, and over 4.7M virtual products sold. The well-known Discord communities of PewDiePie, Davie504, Moistcr1tikal, Mobile Legends, and Team Liquid, and the fan community of Kanye West, Ariana Grande, and Hololive Fan Server already have Tatsumeeko.

What’s in for 2023?

Cryptocurrency volatility is nothing new, and 2022 was a true rollercoaster for the entire sector. It also represents a remarkable chapter in the artifacts of crypto history. It will be a useful lesson to educate both experienced developers and beginners that cryptocurrency is still “a work in progress” while simultaneously highlighting how far it has come. Future developments in this quickly evolving industry will be shaped by innovators and visionaries who remain focused and persistent.

The two industries that are most likely to use blockchain technology to spread cryptocurrency are Web3 gaming and Metaverses. Following a bright start to 2022, economic and social unrest has had an impact on international markets, particularly tech.

Crypto and NFT advocates have had to deal with hacks, significant falls, and plummeting token prices. Web3 gaming and NFTs are still very much alive and moving forward in spite of all the FUD (Fear, Uncertainty and Doubt).

As the industry develops, there will be more obstacles and setbacks, but we also anticipate that market recovery, adoption by Web2 businesses, and significant technological advancements will serve as the catalysts for a number of innovative NFT and Web3 Gaming projects and trends in the coming year and for many years to come.

The blockchain sector may have been jolted by the bear market and other problems, but the web3 gaming alternatives are just becoming better. In 2023, It can be confidently expected that there will be even more advancements in blockchain gaming with good value returns. 

UX Best Practices for NFT Marketplace Design

Online NFT marketplaces are becoming more and more popular every day. The digital collectibles are backed by blockchain technology which makes them complex and different from the current marketplace items listed in e-stores. 

Marketplace- as it sounds is all about buying and selling. Making UI/UX design for NFT platforms can be time-taking since you have to figure out how to merge the complications of the blockchain into a user-friendly platform. Let’s explore some easy ways and tips for designing your own NFT marketplace in this guide.

What You Should Know First?

Web3 Mindset for UX Designers 

Web3 Design Principles

Essential Design Features of the NFT marketplace:

Single-category Market or All-Purpose Market

The first and foremost step would be to determine the type of niche you are fulfilling with your marketplace design. Sticking to the business niche is important prior to design. 

  1. Single-category market (say only Art-based)
  2. All-Purpose market (Art, Music, Real Estate, sports, collectibles, entertainment, gaming, etc.)

For example, for the multi-categories platform, the first interacting screen should allow the users to browse the categories of their choice.

Whereas, the single-category NFT market would start enlisting the collectibles on their landing page. This should be the first priority for the designer to understand the client’s business and stick to it for implementation. Some examples to speculate business niche importance are:

  1. Radion is a music-only NFT marketplace. The Radion allows creators to have an e-commerce-like platform where subscribers can buy a number of products or services listed as NFTs.
  1. NBA Top Shot is a sport and athleisure NFT marketplace. It is a great choice for basketball fans who are looking to get involved in the world of basketball NFTs. 
  1. KnownOrigin is another versatile example of a single-category marketplace. It is an art NFT platform. It focuses on offering rare and collectible artworks in timed-released events, known as drops, which enable artists to control the number of copies released.

Welcoming the New Comers

The goal is to welcome all kinds of visitors with an attractive yet simple design. As a designer, we must always remember that new users and technically proficient people will be visiting the same site. To cater to that there must be an inclusion of

A little humor never hurt anybody. Adding something creative, witty, or funny gets users’ attention more quickly and ultimately trust is formed between the user and the platform. As we can witness below in the picture, the word “eat” right next to the word “use” is written in strike-through making it seem hysterical. 

Showcase NFTs on the Homepage

The layout should also be uncluttered with no background images or distracting information. Choice of suitable alignment, simple templates or themes, and no-busy backgrounds is the key to perfecting the layout. Having the categories for the all-purpose NFt market can be a challenge, listing down the NFTs in a perfect format should be made possible with alignment, font choice, and image ratio on a page. 

The first interactive screen of any platform is its Home Page. Implementing the “aesthetic-usability” feature on this page is preferred. The aesthetic-usability effect refers to users’ tendency to consider attractive products as usable as they look — even if they aren’t actually more effective or efficient. 

Provide What Viewers are Looking For

Curating design to enable control for the users is another important design strategy. Making marketplace users feel like they can easily view the NFTs in-purchase and the ones on auctions to bid readily. 

In marketplace design, control can be given by providing users with multiple options such as choosing the type of NFTs (Auction, non-auction, new, popular, etc.), setting the pricing range, filtration, and sorting items. 

Allow users to search more precisely, by having the option of the filter. This will help in gaining happy visitors. People like to see what they want, using filters they can eliminate the non-required and easily navigate to the point.

Separate dashboards for buyers and sellers

NFT platforms have two primary target audiences — NFT creators and buyers. They want to achieve entirely different tasks, so make sure to design separate and relevant dashboards.

Here is how OpenSea is achieving this feature:

Seller Dashboard for creating NFT

Dashboard for Buyer to buy NFT

 What to Hide and What to Highlight 

Other than the assets’ listing standards, other important description features that should be highlighted as an NFT description is;

Displaying detailed information on the NFT’s origin and background (history of all owners). 

Allowing users to track their whole transaction history is part of an excellent user experience since NFT traders want to analyze their trading behavior to improve or judge the market while participating in NFT trading. Such a feature can include required data like the total number of NFTs sold, NFTs’ previous price, and so on.

While designing the description page. There should be an open/close description button to allow the type of viewers to look deep into the description or not. Populating information without having the viewers get to engage with the product above can be a little distracting. 

Adding Tags for NFT Searching Optimization

Users want to see the exact thing they search for. Tags are the keywords associated with the product that helps the users reach their desired product in an easy and quick manner. Tags make navigation easier and bring exposure to the topics that consumers love. Putting Tags with the NFTs in the marketplace allow the searched category/item to pop right at the top so that the user does not have to spend time searching.

Buying and Selling Design Mechanisms in NFT Marketplace

Buy

The NFT marketplace platform should have a feature that allows users to buy and bid for NFTs listed on the platform. The bidding feature should include a bid expiration date and allow users to view details about the bids’ current status. 

Sell

Sellers should have the option to select the type of buying process while minting an NFT or whether one has to transfer the ownership to another person. If he opts for fix price then he will enter the amount that he wants to sell, in case he selects the other option he has to select its metrics which include name, description, time duration, minimum price, and chain (if there are more than one), etc.

Adding Blockchain Network

Adding a Blockchain network is not essential but can be added as an extra feature

With unique requirements in mind, we choose an optimal blockchain framework and implement the blockchain network to base the NFT marketplace but you don’t necessarily operate on a single blockchain. Actually, if you do, your marketplace will face the same limitations as the chosen blockchain network. The resulting interoperability increases marketplace sustainability, optimizes blockchain energy consumption, and expands customer reach for your marketplace.

Integrating the Crypto Wallet & Checking Transaction

Just as a viewer finds the perfect NFT to buy or the NFT creator’s deal is closed they just want a quick route to get the fair transaction. To ensure that users have quick and secure transactions available on the marketplace a crypto wallet on a marketplace is a must. This can be made possible by designing a wallet that supports multiple crypto currency (Also dependent on the development area). Other than the technical metric, it should have a smooth and error-free UX. Adding feedback with each step by a user can enhance the user experience. 

Transaction history or activities

Giving access to the users’ actions and transaction history on the marketplace is another viable feature. Buyers can check back and forth the worth/pricing of any digital asset and decide if new transactions they can work on without any errors. 

Other Tips that will be helpful

Web3 Design Principles

What is Web3

Everyone seems to be talking about Web3, how it will transform the current apps we use, manage our data, and handle our accounts, how Web3 Design looks and is created and what makes it different from Web2? 

To begin with, Web3 is all about the decentralization of the Internet. For easier understanding, the following features would be the best way, to sum up, the new Web3.0 era:

What does Web3 Design mean? 

In terms of the acceptance and use of web3, design is an important element. Since the majority of the users interacting with the terms of Web3 are exposed to DApps. To help them overcome the complexities of new technology, design is used as a primer in between.

Depending on the Web3 applications type, design rules will differ slightly depending on the type of dApp from standard web 2.0 apps to Web3.0 apps and all it contains (Gaming, NFTs and DEXes, etc.). However, there are some general design concepts that a designer should be educated about. 

The three main pillars of Web3 UX

Pillar 1: Educating on technology

Help the user understand any step he is going to work on and make it simpler for them to navigate the function by adding minor user interactions, tooltips, straightforward animations, pop-ups, or familiar, clearer terminology.

Web3’s status makes one thing quite clear: individuals won’t typically have the mental models and ways of thinking that it will require (yet).

It is the responsibility of designers to assist users in navigating the blockchain learning curve as they become more aware of the technology and its potential.

There are certain resources that can help anyone learn about the jargon, processes, mindset shift, etc. 

The need of defining the terminologies will be not much necessary once when blockchain becomes more common. However, businesses are correctly focusing their efforts in this area for the time being.

Specifically, the designer’s goal of assisting the common person is comprehending blockchain.

Example: Binance Academy has listed all the crypto jargon as a glossary with one-liner definitions. 

Pillar 2: Transparency

Users should have access to all relevant transactional information, especially for De-Fi apps that support a large number of transactions. As for design, this comprises:

Transparency example

Pillar 3: Familiarity

As Jacob’s law of UX design states, 

“The majority of user time is spent on other websites. This indicates that visitors desire your website to operate similarly to every other website they are already familiar with.”

Specifically, a Web3 application should be similar to a Web2 one in terms of user experience. Following this, you make it easier for people who are still learning about topics like cryptocurrency wallets, blockchain technology, etc. to utilize them.

Example: 

The user should not find the connection of the crypto wallet procedure any different than using his/her conventional online banking procedures. Whatever they are transacting should be as easy and as similar to their daily banking experiences. 

Secondly, minting their audio NFTs should be as smooth and familiar as their normal Spotify uploads, or YouTube video uploading process so that they do not find it an additional complexity as cost of ownership.

Web3 UX principles

When creating web3 user experiences and interfaces, designers should consider the best practices in the Web3 Design Principles collection. 

Active Guidance

Definition:

Users must have easy access to steady navigation that makes it clear how to return to a previous state and what to do next.

Principles:

Consider where your personas are most likely to turn for assistance while anticipating the need for additional assistance and working to reduce it.

One must take into account various perspectives of an interface because visibility management is crucial for business.

Avoid adding components that will clutter an interface or mislead users. Every component has a function.

Utilize standard design patterns to minimize user learning requirements.

Examples:

  1. Dodo is a decentralized exchange. On the exchange right now, there are 8 coins and 14 trading pairs. 
  2. When the users visit the website. Dodo provides a visible and simple use case for anyone willing to liquidate. 

It reflects the text in real-time currency exchange value right opposite to it. The play cards can be navigated back and forth to find all the currency values in real time that the platform supports.

  1. Moving along the sentences highlights the words and explains to the user about the platform’s service definition of it.

B. DTube is a decentralized (Web3-based) video streaming platform. At first glance, a user will find it similar to any other web2 video streaming service. Like YouTube, Vimeo, Dailymotion, etc. 

The approach behind DTube is the design consistency of what the viewers’ UX is trusted to till now. 

Consistency

Definition:

The establishment of uniformity across products and the customer’s experience is important for building trust.

Principles:

Use the same “Blockchain color” consistently throughout your project and be consistent with your font selections.

Keep your color choices and associations uniform and similar by maintaining consistency.

Grid-based designs with proportional and meaningful negative space should be kept in the design.

Wherever our users are, we design for them.

Examples:

Rarible, a popular NFT marketplace, states a good expression of consistency in the design such as the ground alignment, typography choices, and spacing. The strong-grid layout throughout the web page is quite impactful.

Community

Definition:

The services of Decentralized Applications may be only used by individuals but the basis of development of any application is planned for and also used frequently by, a sizable group of people worldwide. Community formation of a single type of user is beneficial for making the user experience better with uniform holistic feedback. 

Principles:

Indicate the number of community members worldwide independent of any region.

Categorizing the community with the law of proximity. 

Describe the community’s composition in detail (that is sub-groups and their power over the project)

Describe the project’s larger purpose (if any) and how their participation helps it to be fulfilled.

Examples:

Parsiq Network gives quick access to web3 data, enabling particular features in your applications. The platform has been designed specifically for developers who want to build event-driven apps with a focus on trending reactions to events. It has a supportive community system integrated into the site.

Data Transparency: Provenance

Definition:

A user must be able to determine whether a certain piece of information or piece of data is actually saved in the Blockchain, maybe just by looking at the page. 

Principles:

Make it clear which information originates from the Blockchain and which does not.

Make the contract’s address clear (s)

Connect all Blockchain information to unbiased Blockchain explorers.

State what data is derived from oracles

Examples:

When Data Provenance option is turned on. It highlights the blockchain data in Green color for better visibility. The value is also made prominent. 

Data Transparency: Transactions

Definition:

Allowing users to make assumptions and assume that “all” data visible is saved in the Blockchain is not user-friendly. The design should communicate enough at just a glance. 

Principles:

Clarify actions that are irreversible.

Clarify actions that involve money or value.

Clarify actions that could potentially lead to user identification.

Clarify actions that generate new contracts in users.

Examples:

In the SuperRare NFT market when placing a bid, this screen is captured. The message informs you of the value and permanency of your activities.

Don’t Forget the Newbies

Definition:

If we want Distributed Applications to be widely used, we must remove the entrance barriers for those who lack technical expertise or familiarity with the Blockchain and its jargon. The user would also benefit from being aware of the key distinctions between Decentralized applications and other applications. 

Principles:

Apps should try to minimize the use of new words and concepts, especially on the pages for the generic public (ie. homepage), and progressively show more learnings on pages for engaged users (ie. User dashboards).

Make every effort to use jargon-less, consistent terminology. Language should be concise, clear, and align with our users’ natural communication patterns.

Provide 2 or more levels of educational content: Blockchain Basics and Decentralized Application-specific terminology.

Try to weave in the snippets within the interface, with temporary pop-ups that can be easily dismissed that then could open more detailed information in another tab.

Examples:

OpenSea has a learning service available for newbies entering the NFT market. Gives a complete service to the user from learning from scratch, building NFTs, selling, and purchasing. 

Feedback 

Definition:

Through the design of constant feedback, we assist our users in understanding what is happening and lower anxiety. 

Principles:

When used sparingly, motion and animation support the understanding of what ia happening.

The user should always know what is happening, what just happened, and what will happen next as time is a significant element in Blockchain.

Examples: 

Upon connecting the wallet or refreshing funds OpenSea provides prompt feedback to let the user inform about his confirmation of activities. 

Trust

Definition:

Maintaining the trust of our users, many of whom work in fields involving highly sensitive data, is essential to the success of our company. The blockchain is “new” to almost everyone, with varying degrees of knowledge and assurance. Users must believe that our goods (and the people who created them) are stable, dependable, and trustworthy.

Principles:

Final word

Dapps are fundamentally distinct from regular web or mobile apps because they are built on the powerful Blockchain-enabled principles of decentralization, transparency, trustlessness, immutability, not hidden etc. and should strongly convey these values.

These Design Principles translate the characteristics of the Blockchain into useful tools by reflecting them in the front-end of Dapps for a promising and smooth User Experience. 

Check out The Best Web3 UX Process in the world of Web 3.0.

Web3 UX starter Pack

What is Web3? | Web3 Explained

Hello Learner! These days it is quite normal to hear technical words like Web3, NFTs, and Metaverse, Let us consider a two-layered pyramid to be able to understand Web3 technology. 

Level 1: “For beginners”

On Web3, you can not only read and consume information from the web but can also own your data. 

Level 2: “For Technical persons”

A new version of the internet known as Web3 hosts decentralized apps powered by blockchain technology. Where Web3 advocates highly value the users’ privacy and data ownership.

With Web3, ownership is divided among its creators and users rather than being controlled and owned by sizable portions of the internet.

On web3, everyone has equal access to engage and nobody is excluded because it is permissionless. For native payments, Web3 does not align with the conventional infrastructure of banks and payment processors and uses bitcoin for online purchases and payments.

Web3 runs without the use of reliable third parties; instead, it makes use of incentives and economic principles and keeps its core focus on a decentralized system.

Source

For more detailed information on the Web3 explanation, you can always rely on Whiteboard Crypto and Simplilearn. Watch their videos of Web3 explanations to learn in less than 10 minutes:

What is Web 3.0 design? | Web2 vs. Web3

The question “If Web3 is based on different mechanisms and technology does it look different as well?” is the most frequently asked one. People have multiple assumptions about Web3 user interfaces, and this is all very common. So here is an example of a Web2 and Web3 User interface.

Web2 UIWeb3 UI
https://www.weebly.com/https://www.dogeartclub.com/

In conclusion, comparing the interfaces between web2 and web3, both of the websites have similar tech stacks and histories, but they take distinct approaches to problem-solving. 

The key difference is that Web 3.0 places more emphasis on producing content than Web 2.0 does on consuming and writing it (Semantic Web). The latter is significantly superior because it makes use of technology to improve cybersecurity while also facilitating information exchange among web users. 

Here we have filtered a quick list of blogs and videos that explain the design differences between the web2 vs web3 user-related design experiences. 

Is the Web3 Design process different?

Following is the curated list of resources to become a Web3 UX Designer. Firstly we will see the designing principles that are common for any technology UX designer. These principles help create a smooth yet secure design user experience. 

Another great resource is the following read: Web3 design principles it has intricate parts for any designer to dig in deep yet provides a cheat sheet to learn quickly. 

Moving forward having the basic ground knowledge of design principles, the designer must know the importance of research and its magic of audience building. User research, product research, and market research support the overall user experience to be smooth and desirable. 

UX Research for Web3

This is a complete guide to UX research for web 3.0 products and the research analysis process a video guide can be found here: How to conduct UX research analysis

Next, the user must focus on the User Experience mindset and further, the tools stack. 

Web3 UX mindset

To cater for the challenges, seeking differences, and unique points, the designers must develop a sustainable UX mindset. We have a perfect read for you Web3 mindset for UX designers. This article not only advances the psychology behind design thinking but also coaches the current trends involved in the design industry. 

For evolving from a traditional design to a web3 design one should give this article a read The three pillars of great UX design in Web3.

Web3 UI/UX Stack

A guided tour around the UX tools for building Web3 products contains all of the following listed factors and upon learner’s consistency. 

It is purely driven by the courses, podcasts, social spaces, and series of Web3 design on-site classes. It can also be learnt from UX apprenticeships, technical groups and any source that may or may not be part of any official or authorized organizations. This points to certain Design hackathons, and mini-theoretical courses which support the basic concept of Web3 for designers. You can explore the following list to get an idea:

The tech communities and groups play an important role in the design enhancement and smoothening the User experiences. These communities help each other lift, build personal branding, make stronger networks and create a world of niche-based opportunities. 

Web3 Rabbit Hole It is a library for anyone who wishes to learn about Web3 and develop their expertise in Web3 and Crypto should visit Web3 Rabbit Hole, a Notion resource collection that has been precisely designed for beginners.

Start Designing the Web3 products
1. Designing for crypto

It guides how to break down difficult cryptographic design scenarios and compares the web3 and crypto ecosystems in terms of UX patterns, user flows, and current issues.

2. Finity for Designing DAPPs

Finity is a web3 design tool created by Polygon using Cope.Studio for developing practical dApps, or decentralized applications. It can streamline design processes and assist dApps in producing appealing user interfaces and web3 ecosystem experiences.

3.

Web3 Design Pioneers

Twitter profiles

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Reusability saves all the time in the world for anyone to progress. It makes any complex task 10 times easier. With the right UI components your effort, time and creativity can be utilized somewhere on the other aspect of the product.
Some of the reusable UI components can be found here Lightweight reusable Web3 UI components for DApps. Web3 designers would also love to explore options so here is a library of UI components ready to choose from StatusQ: a UI component library for Web3 applications and 9 Web Components UI Libraries You Should Know in 2021.

Not only will you find resources for options but also a guide on how to manage these reusable UI components at How to Manage Reusable UI Components.

Talking about reusable UI components and time-saving methods, another way that exists is to use whole-themed UI kits. These kits offer themed design components which also save the decision-making stage to gathering colour wheels, icons, pixelated issues, typography etc. One of the best UI kits for Crypto wallets that comes with a wide widget library and 30+ screens, KRYPT – Crypto Wallet UI KIT.

Challenges in Web3 Mass Adoption (Use cases & barriers)

It is very unlikely for any system to be ideally perfect. The challenges in the world of web3 for mass adoption are some of the use cases and barriers discussed here: 

Here is the reason for failure and mistakes and how you can redefine them:

6 Bad UI Design Examples & Common Errors of UI Designers

How to Boost your UX with UI

One can definitely go for: 

How do I become a Web3 Design Expert?

End Note:

This article is dedicated to all design enthusiasts who want to learn about Web3 in detail. It is curated by Web3 Design experts as a one-stop starter pack for anyone to get started as a web3 UX Designer. For any further query or relevant topic of interest, you may reach out to www.Expeditedesign.com

Metaverse Design: All you need to know

Remember when our parents complained about how we lived on the internet 24/7? Well, we will be proving them right soon enough! 🤣 How? Thanks to the Metaverse Technology. At this point, you must be questioning, what is a metaverse.

The metaverse is a virtual replica of our real-life world. First, let’s see how the creators of the metaverse explain it.

Mark Zuckerberg on Meta

“Today, I think we look at the internet, but I think in the future you’re going to be in the experiences” -Mark Zuckerberg

“With the Metaverse, we are transitioning from viewing a 2D world looking at the internet to living inside in a 3D world ” -Dave Water

“The Metaverse has become the newest macro-goal for many of the world’s tech giants.” -Matthew Ball 

Mathew Ball on Meta

Other than the Meta-makers, this is what the internet-people who are curious yet do not know much, have to say:

Metaverse design meme

And trust us, we are enjoying the creativity 😜

Metaverse design meme

So, is it actually all pile of nothing? Yes and No. 

Yes, because it exists virtually, and No because it is not about investing and dealing with imaginary stuff. Here is a proper explanation of the Metaverse:

What is the Metaverse?

The entire metaverse network is a decentralized platform meaning: shared by everyone, which may be continuous and in real-time, which is present in the post-internet era. The metaverse is not something you can physically own. 

It is an open 3D virtual world where everyone can take part. There are various metaverses made by various individuals or groups.

Something people often mistake the Meta for the entire Metaverse is the owner Mark Zuckerberg. The founder, chairman, and CEO of Meta, Mark Zuckerberg, has shared his vision of the Metaverse’s future as well.

For investing, unlike The Mask movie, 🎭 you do not become a billionaire overnight. But investing in the metaverse is also not something imaginary as most people have perceived about.

Investing in the Metaverse entails buying stock in well-known companies, buying non-fungible tokens (NFTs), creating one’s own non-fungible tokens, and buying or renting real estate on virtual platforms. There are numerous choices, and they are all promising.

If the metaverse is widely used, there could be high profits. Investors have institutional backing, indicating a firm position in the market.

How to get into the Metaverse Design

To master some skills, we recommend experiencing them. That’s right, to be a metaverse designer you must fully experience it. Have a virtual tour of it, meet new people, buy real estate in the metaverse, get metaverse equipment, and so on.

This will not only give you a fun adventure in a new world but will also provide first-hand experience of what is up-to-date, which UX components are already available, what else can be done to enhance the usability of the system etc. 

We have curated a list of important features to guide you to become a Metaverse Designer and explore the possibilities of Metaverse as a UX designer. 

Design is everything

Metaverse design meme

Mandalorian is absolutely right. Metaverse is nothing without design. Metaverse requires compelling storytelling, Augmented Reality (AR), Virtual Reality (VR), 3D animation, etc. Here designers play the most crucial role in getting the metaverse integration’s design component just right. After all, Design has to be something that makes it feel like users’ real-world space. The three core spaces where designers need to focus are:

The successful design would be to provide a truly immersive experience, aiming to “bring things to life” in the metaverse and make them seem tangible and as life-like as possible.

Mindset for the great metaverse UX

The metaverse designer needs to reform their mindset for the technology so that the user interacting with it is not just a mere user, but a player. To do this, UX designers will need to broaden their perspectives on skills and disciplines. Because these virtual worlds are comparable to societies with entirely different systems of ethics, economics, sociology, and psychology are all involved.

A critical component of effective design is accessibility. Since many other design elements, such as the motion sickness in VR, can negatively affect users, creating an accessible metaverse experience is definitely a challenge.

The early stages of metaverse design offer a great opportunity to incorporate accessible technologies right away rather than later trying to improve systems to be more inclusive. Designers will probably need to come up with brand-new, easy methods to encourage people to spend a lot of time in virtual environments.

It is not bad being a noob, noobs act as the bridge to create smoothness between the initial trial and mass adoption of any technology. 

In fact, it means creating such User Interfaces that are represented as walk-throughs and have the tendency to communicate with new users. It allows more opportunities to learn, explore, and interact with new technology. The metaverse itself is supposed to be the new, more interactive internet.

In the metaverse, data protection, security, and privacy should be included from the beginning as the top priority. It’s crucial to create environments that discourage cyberbullying. Users should be allowed to choose whether they want to be alone or with the firm, and individuals who negatively affected them should be removed from their connection. To design more safe and more user-friendly services, product designers will need to collaborate closely with data security experts and behavioral psychologists.

As the designers have to keep the critical factor of making learnability, findability and usability a priority they must also concentrate on the importance raised by the development side of these virtual universes. 

As a result, it will allow the players to not have to face any technical barriers throughout their interactions. Learnability and ease of understanding will assist the players to spend a good, satisfactory time in the virtual world. 

What is the required expertise?

Here comes the good part! Below is the concrete skills info that the designers need to pull in order to become the metaverse UX designer. 

Holograms sound cool, right? It is exactly the kind of technology that the matrix movie introduced to us to fantasize about the magical virtual world. 👩‍💻 Metaverse designers highly utilize extended reality in the virtual world to create smooth user experiences.

Designers use Extended reality which is a fusion of AR (Augmented Reality), VR(Virtual Reality), and MR (Mixed Reality). This Extended Reality helps the players to experience a life-like world in a virtual environment.  

Recognizing the user’s physical environment, User Perspective and depth are three important aspects of the physical world. In order to create experiences that keep users safe while they are in the virtual world, designers will be able to map the environment surrounding the user using sensors in VR headsets.

We are aware that non-verbal communication makes up a significant component of human connection. Face expressions can be used to convey emotions. As you connect with others, Avatar will be able to depict current human emotions. Standardization of head, hand, and body movements for gestures in virtual reality.

Standardization will enable the usage of traditional patterns, making it easier for people to learn how to use products created for the metaverse.

The next stage in the growth of the animation sector is a virtual world. Immersive virtual worlds can be made possible using NFT, or metaverse technology. As this technology gains in acceptance, interesting new prospects are emerging for all kinds of animation. 

The avatar can move, communicate, and carry out specific actions automatically for each player. These avatars are becoming more prevalent in online gaming communities like Second Life and Roblox. These are created using traditional as well as contemporary 3D animation.

Methods & Tools: 

Many designers are curious about the tools they can use to create a metaverse experience because the metaverse is still more like an early technology. We have summarized the majorly used tool for building genuinely immersive experiences in this section. 

Metaverse Engines

You may design virtual places where players can engage with each other using platforms and engines.

Tools for 3D modeling

Using 3D objects, the Metaverse’s virtual world will emerge as a real world. The ability to create 3D models will be a challenging one for metaverse creators.

Challenges in Metaverse Design:

1. Creating the UI

What is the primary interface distinction between the world as we perceive it and the Metaverse? In the actual world, the user can see and touch the interface since it is in front of them. In Metaverse the user is inside the interface in a virtual environment.

The fact that a static design is no longer essential but rather an addition to a more immersive design poses a dilemma. The task of creating environments and experiences in a virtual world then falls to someone with extensive architectural knowledge.

2. Heads-up display (HUD)

The panel that projects information onto the windscreen into the driver’s or pilot’s line of sight is known as a heads-up display. When it comes to gaming and user interface, the status bar is where information is displayed to the player or user.

A packed HUD seems only natural playing an important role in promoting the Metaverse. Consider it; it’s a brand-new world that only exists in your sight, and you’ll require assistance navigating it. You will need HUDs in the virtual world since they provide info panels, minimaps, inventories, colour filters, accessibility filters, and other features. Concise the info is then UX’s job.

3. Virtual Reality Sickness

Speaking of VR sets, while they may be your definitive route to travel and explore the Metaverses, they are also causing worry because they are uncomfortable. Cybersickness is a condition brought on by VR headsets that imitate the effects of motion sickness.

In essence, you are deceiving your brain into thinking something is moving when it isn’t. It is this separation that makes people sick of virtual reality.

4. Dislocation

It’s possible that this young technology may reach us in many years. However, users do not go from one static page to another in the virtual world rapidly by clicking or tapping, which is the basic foundation of contemporary UI and UX design. Instead, even in non-tangible spaces, users move from one spatial entity to another

The virtual space might be rather confusing for the user if there is no sense of continuity from one stage to the next. The connectivity of all the spaces inside the metaverse is a critical factor for the designers to keep in mind.

What is it like painting the infinite canvas?

Know what the video game players 🎮 first notice and enjoy the most? It is definitely the game plot and the design. The people who build the connection between users of technology and those who create its interfaces are mostly UX and UI designers. They “interpret” it for the players, removing obstacles and facilitating communication with devices and apps.

People can work, play, shop, interact and engage in other activities in the “metaverse,” which is a graphically rich virtual area with some resemblance to the real world (or, perhaps, more importantly, the internet).

To create experiences that become the gateway into other universes, UX designers will need to adapt their perspectives, skills, and processes. To do this, they must first stop considering those who use technology as “users.”

They should think of them as “players,” or individuals who exist, inhabit, and live in this virtual environment.

UX designers must develop an immersive design in order to give “players” excellent experiences. One that enables users to live in virtual environments not just visit them. To not achieve sustainable yet simple goals, designers are to be fully committed.

UX Analysis of Decentralized Exchanges (DEXes)

Ever wonder why do design competitors copy? 🤔 Designers usually copy the style, built, design, and all possible similarities and launch new products with slight changes.😵‍💫This statement begs a question: Why do UX designers copy the exact style?

It is because, 

The majority of users’ time is spent on other websites. This indicates that visitors want your website to operate similarly to every other website they are already familiar with.” –Jakob’s Law

This is the reason why many Decentralized Crypto Exchanges (DEXes) look almost the same with hints of different features to give their users a welcoming look and feel. 🤯

In this analysis, our UX designers picked out the 8 most commonly used exchange platforms and discussed the similarities and differences including unique UX features of the DEXes. We will be discussing the following DEXes:

  1. Orca
  2. Sushi
  3. Symmetry
  4. Raydium
  5. Quickswap
  6. Traderjoe
  7. Sunswap
  8. Osmosis

ORCA

Orca simplifies the trading, farming, and constructing of cryptocurrencies. On the Solana blockchain, Orca is the best place to exchange cryptocurrencies. On Orca, you may swiftly swap tokens (thanks to their Fair Real-time Price Indicator). 

Key Features:

Targeted Users: Traders looking for a way to trade cryptocurrencies on the Solana blockchain.

SUSHI

Sushiswap supports 14 chains and offers an alternative to the trading of tokens from liquidity providers (LP). Users can purchase and sell through Sushi DeFi and decentralized exchanges using SushiSwap, which uses the Automated Market Maker (AMM) protocol. 

Key Features:

The repetitively similar feature between Sushi and Ocra is the wallet connection functionality available at the bottom of the converter. It is for the user’s ease to get the wallet connection at a click. 

Targeted Users: Crypto traders that seek multiple pool liquidity options.

SYMMETRY

Symmetry is known to be a fast DEX as it is built on Celo and xDai networks. Symmetric is made with the goal of promoting Decentralized Finance’s mass adoption, and it was created with the needs of new users in mind.

Key Features:

Targeted Users: For the users who want to manage their assets, provides an on-chain pool; which means instead of paying the index holders, users get earning fees and high transaction speeds and almost no cost.

RAYDIUM

The problems associated with decentralized AMM architecture, such as excessive gas costs, pointless failed orders, and liquidity fragmentations, are addressed by Raydium.

Key Features:

Targeted Users: Users of cryptocurrencies that require an on-chain order book AMM enabling the development of Defi to boost trading control. 

QUICKSWAP

Quickswap functions similarly to Uniswap in that users provide liquidity and earn transaction fees when they swap tokens from these liquidity pools.

Key Features:

Targeted Users: Cryptocurrency traders that want to transact on a DEX powered by Polygon with almost no gas fees.

TRADERJOE

Other DEXes support the address access manually known as the pilot token, but in traderjoe, the token is reflected automatically at the converter. In many aspects, Traderjoe is similar to other decentralized exchange platforms accessible in the Defi area. Although it has tools for trading, liquidity pools, and yield farming, its standout feature, “The Rocket Joe,” is the main reason consumers utilize it.

This rocket will serve as the starting point for Defi protocols. It enables cryptocurrency producers to introduce their own token and build their Protocol Owned Liquidity from scratch.

Key Features:

Targeted Users: It promotes the consumers’ usability with compelling advantages such as incentivisation. The system is user-friendly for new users.

SUNSWAP

A TRON-based trade protocol is called SunSwap. Its unique feature is that all trading fees are paid out to the protocol’s liquidity providers rather than the protocol itself.

Key Features:

Targeted Users: Per users’ requirements, conversion between any two TRC20 tokens is possible based on system price.

OSMOSIS

At first look, Osmosis provides a welcoming attracting interface with colors and design elements. Vibrant colorful illustrations can easily attract users to engage with the platform. It can be appealing to some newbies as well.

Key Features:

Targeted Users: Crypto traders interested in an AMM on Cosmos blockchain.

Final Note 🏁

Before beginning the analysis, we discussed similarities among the DEXes and why users prefer them. This is why in the majority of the DEXes, the converter block being the heart of the DEX, is placed in the middle of the home page. Furthermore, we have noticed in Symmetry, Raydium and Traderjoe that they have enhanced the UX by adding a graph of crypto value. The visualization helps the users to make a decision based on the patterns, also, it is easier to memorize an image rather than text or numbers. 

Two of the above-enlisted DEXes, focus on the usability of new users. Their platform is designed per the concept of ease for new users. This also adds to the favour of unique feature points. The user will only feel attended to if they get a proper guideline 📝 or a walkthrough 🚪 on any new website they enter. 

To buildup a great user experience, speedy transactions, supporting rare digital tokens and providing users with better prices than the other DEXes are all secondary. Firstmost element is the interaction of the consumer with the platform. 👨‍💻

To achieve a top-notch neat user experience, the effort goes in by the creative and analytical thinking of the designers, the substructure and assistance of the developers as well as the rational guidance and support of the project managers. Only then, do the users get to enjoy a smooth interface with their desired options. As proven, teamwork makes the dream work! 🏆

We at Expedite, create experiences that are based on the best UX practices, market research, and user testing. Schedule your meeting with us right away to get your products best for a smooth user experiences.

Check out our METAMASK case study.

What Is The Mighty Ethereum Merge: How It Will Affect GameFi

What is The Ethereum Merge?

The Ethereum blockchain, as we know it, is the foundation of numerous Web3 applications, cryptocurrency, and NFT projects. The Ethereum Merge, also known as Ethereum ETH 2.0, is essentially an upgrade to the Ethereum blockchain that will lessen its environmental impact, boost network security, allow Ethereum developers to add new features, and improve the chain’s scalability. This is due to the converging of two independent chains “Beacon chain” & “Ethereum”. The latter one will integrate the consensus mechanism of the Beacon chain into it. Let’s dive deep into it below.

When will Ethereum Merge?

The existing Ethereum Mainnet and the Beacon Chain proof-of-stake network will soon converge, indicating that Ethereum will entirely switch to proof-of-stake, putting an end to the proof-of-work. The merge is expected to be in operation in Q3/Q4 of 2022, with the tentative deadline of September 15 this year. 

This will result in Ethereum’s 99.95% reduction in energy consumption

What is Proof-of-Work & Proof-of-Stake?

Algorithms that are used to validate cryptocurrencies on a blockchain network using proof of work and proof of stake. The key distinction is in the method used to select and qualify users for adding transactions.

The Proof of Work consensus algorithm involves challenging puzzles that must be solved by powerful computers used by miners. Trial and error are used to find solutions to the issues. The right to add new blocks to the blockchain for transactions is granted to the first miner to solve the puzzle or cryptographic equation.

In Proof of Stake, before confirming the transactions, miners promise an investment in digital currency. Miners need to put up a stake with their currencies to validate blocks. Miners also provide the duration of their transaction validation history. A weighted algorithm that is weighted based on the stake and validation experience determines at random who will validate each transaction.

Integrating the Mainnet

Since Ethereum’s inception, the Mainnet has used the proof-of-work (PoW) consensus mechanism. The PoW holds each transaction, smart contract, and balance from 2015 till now. 

The Beacon Chain, however, was established on December 1, 2020, and it has functioned parallel to Mainnet as a separate blockchain. Beacon Chain has not done transactions on the mainnet, but it reaches consensus on its own by agreeing to active validators and their account balances. 

When the Beacon chain is integrated with the Mainnet, and then this composition is merged into Ethereum, the Beacon Chain will work as a consensus engine for all data, account balances, and execution layer processes.

The Merge Impact on Game-Fi

Now that we are fully equipped with the Ethereum merge, it can be simply put as a quick swap of the new engine for the old one of the jet mid-flight. Everything, including the games based on this blockchain, will be swapped and altered eventually in The Merge spell. The three pillars: transparency, immutability, and traceability are fulfilled via wallet, smart contract, and the game server in blockchain game architecture.  

gaming-architecture-flowchart

Games Security

Research shows 34,200 smart contracts in blockchain games are vulnerable to attacks. The causes of vulnerability are platforms and contract programming languages. Which opens up to Calls to the unknown, Gasless send, Exception disorders, Type casts, Re-entrancy, etc. 

The merge promises a better tomorrow with higher security for the game-fi industry. The upcoming updates will increase Ethereum’s security by requiring major ETH deposits from validators. In addition, the protocol has the authority to delete their ETH immediately in the event of attempted fraud.

Faster Transactions In Games

Currently, when the players make microtransactions in the games to buy any virtual assets or skins, it takes time due to the PoW consensus. The merge update, however, will not speed up the transactions. It is here to lay down the foundation for all the anticipated upgrades. The next updates planned in the Q4 of 2022 and Q1 of 2023 will bring high core speed to the chain.  

Less Gas Fee 

For those who wonder what is a Gas Fee? On the Ethereum network, the user must pay a set amount of gas for each transaction. So in essence, “Gas” serves as a unit of measurement for determining the costs associated with putting a transaction in the “blocks” that make up the ETH blockchain.

Since 2020, there has been a dramatic increase in Defi and NFT activity in the Game-Fi, which has greatly increased transaction volume and can also clog the network with raised gas fees during peak times. 

The merger won’t directly reduce gas prices. The Merge’s technical advancements have included nothing intended to minimise fees. However, activating PoS would be the first step in allowing sharding

Sharding is the division of a network into “shard chains” that distribute Ethereum’s load, relieving congestion and boosting transaction throughput. It is expected to start in 2023, which will allow the network to scale dramatically and eventually lower the gas fee to an exceptional level.

More Players at a Time

As discussed above, the merger will focus on security and reduce the energy consumption of the current transactions. But it will set the stage for all other areas that users have been waiting for so long. After the merge, sharding could hypothetically boost Ethereum’s transaction throughput to 100,000 transactions per second, outpacing all major credit card providers in speed and throughput. This allows more users to play games at once. Reducing the time consumption for data processing and transactions.

99.9% Reduced GPU Energy Consumption Cost 

There are glad tides on the way with merge for the gamers. Game Processing Units (GPUs), which are used for mining Ethereum, are becoming less expensive as the network gets ready to convert from a proof-of-work (PoW) mechanism to a proof-of-stake (PoS) one, which would make these gaming processing components essentially useless for Ethereum miners.

According to calculations made by Ethereum experts, the GPU models on eBay have decreased by 37% since May 2021, and more are expected to drop very soon after the merge. Much more GPUs will be pushed to the secondary market when Ethereum eventually switches to PoS, which will probably cause prices to rise even higher.

The fact that the price of Ethereum has been relatively low, as mining has become more challenging, adds to the downward pressure.

Reduced Costs and Increased Speed 

The major 2 upgrades after The Merge are the “Sharding update” and the “Shanghai update”. Both of the upgrades are anticipated in Quarter 1 of 2023, possibly in action by January. Sharding following the merge describes the division of the whole blockchain ecosystem into manageable units called Shards.

Sharding will assist the network in facilitating secure distribution of data storage requirements, as well as making transactions quicker and making nodes easier to operate at a reduced cost. Next, we will witness The Shanghai update. It will tackle 3 critical functionalities; EVM object format, Beacon Chain withdrawals, and L2 Fee reduction. 

We are fully aware that news can be trending on the internet and still be wrong. To tackle that for the upcoming Ethereum Merge, we have busted some of the myths that went viral below.

Myths about The Merge

Myth No. 1: “Gas fee will be reduced following the merge”

False. The merge won’t lower gas prices because it only modifies the consensus mechanism, not increases network capacity.

Myth No. 2: “After the merge, transactions will be quicker.”

False. On layer 1, transaction speed will mostly not change despite minor adjustments.

Myth No. 3: “Once the merge takes place, you can withdraw staked ETH.”

False. The merge does not yet support stake withdrawals. However, withdrawals from bets will be possible after the next Shanghai update.

Myth No. 4: “The chain will increase the downtime after the Merge.”

False. Merge will provide zero downtime, as the chain will switch to proof-of-stake.

Myth No. 5: “In the dissipation of merge, new tokens will be generated.”

False. Ether will continue to be the native asset of the Ethereum network when The Merge is finished. Therefore, there will not be new tokens created.

What is “Eth 2”?

There won’t be two separate Ethereum networks anymore; there will only be Ethereum after ‘Eth1’ and ‘Eth2’ have been combined into a single chain.

The eth developer community has changed these terminologies to avoid ambiguity:

These terminological changes solely affect naming standards; they have no impact on Ethereum’s objectives or development timeline. 

A decentralized network scaling strategy and a switch to proof-of-stake have long been on Ethereum’s roadmap. Researchers initially worked on these projects independently, but in 2018 they were brought together under a single roadmap for “Ethereum 2.0.” a term coined.

Conclusion:

The existing ethereum mainnet and the Beacon Chain proof-of-stake(PoS) network will soon converge. This will complete Ethereum’s shift to proof-of-stake and signal the end of proof-of-work. This curates the way for later scaling improvements like sharding. Ethereum’s energy use will be reduced by 99.95% due to the merge. It will also make the chain highly secure, a welcoming tide for all. 

The original Ethereum developers planned for sharding in the first phase, but since gamification holds 51% of the blockchain’s transaction operations, it was viable to make the chain scalable first. For the development and popularity of layer 2 technologies to scale transaction execution, the focus of the sharding plan was shifted to enable the rapid increase in network capacity. The developers realized that this would not have been possible without switching to proof-of-stake.

Upcoming developments after the merge would be focused on sharding, modifying the EVM functionality, and reducing the beacon withdrawal delay. This means there will be a threefold surge of players onboarding on the chains. This is nothing more than a piece of good news considering the almost negligible prices of GPU and reduced gas fees for microtransactions.

Finding The Best Web3 UX Process (Hint: There Isn’t One)

Technologies around the world are causing a transition from Web 2.0 to a trustless and permissionless Web3, causing the global technological environment to change quickly. This has compelled the conventional recognized software businesses to form Web3-specific teams and convert their typical web systems to web3.

But now Web3 is having trouble gaining widespread adoption due to a lack of knowledge and technological complexities. The sole reason for this is the lack of user diversification experience. As the technology itself is complicated, it should at least have a user-friendly interface that gives the user the impression that it has ease of use and a high user diversification experience. 

User diversification is a path to a productive and forward-thinking Web3 environment in the future. Mass adoption equals a fulfilling user experience. The more people who utilize these digital environments and tools, the more they resemble the real world. As with the current face of the internet and the web, it might happen as soon as some anticipate. 

At expedite, being the advocates of web3 design, we have concluded that design is the first and foremost interacting element that enhances the user experience. In this article, we will be discussing the categories of product launches and the processes of UX design that are the best fit for a product launch in the Web3 space. 

Types of Product Launches and their design strategies:

1. For Products that just want to jump into the market OR want to onboard investors by showcasing ideas.

These sorts of products are known as Minimum Viable Product (MVP) and can be introduced to commerce after quick steps. The term “minimum viable product,” or “MVP,” refers to a product with just enough features to draw in early adopters and validate a product concept. In the web and software domains, the MVP can assist the product team in gathering customer input as soon as possible so that they can iterate and enhance the product.

The MVP is essential to agile development since the agile process is centered on validating and refining products based on user feedback.

The UX design processes for the first product category are as follows:

  1. Understanding

The biggest chunk of the initiating design phase is in understanding the project and its requirements. What are the pain points of an end-user? What can be modified in the current product to enhance UX? and how to make the experience of an end user smooth and consistent? 

Before creating an MVP or prototype, a UX designer seeks to understand what drives a user and what validation they are looking for. The intersection of UX development and design occurs when the proper products are provided to create a user’s capacity and motivation to accomplish a task.

For understanding, we start by elicitation and requirements gathering.

Understanding the user’s perspective is essential to mastering the UX design process; however, working with actual users to conduct in-depth user research, which results from the many methods of requirements gathering, is the only way to discover what that perspective is. 

By doing this first, we will need to make fewer revisions in the future, saving us a lot of work, time, money, and resources. If we conducted research first and then design, we would need to make significant design adjustments to accommodate the needs of the customers we have spoken with.

This has the advantage of allowing consumers to interact with an existing system directly. Some of the techniques that can be used to collect requirements:

  1. Branding

Product branding is a strategic fusion of design, marketing, and experience that distinguishes one product from others in the same category. It includes every aspect of the product, including the name, graphic design, materials used, delivery method, and physical appearance of the packing.

Product brands have become increasingly sophisticated and specialized for each product. A product’s niche differentiation is the objective.

However, at the core of branding, UX is about knowing the users, establishing the brand’s tone, and then designing helpful products that promote great user experiences. Branding Includes the following elements of a company:

  1. Design

Formally, there are three main design elements that makeup product design: quality, functionality, ease of use, and appearance.

To build a successful, competitive product, you will need to carefully consider each of these three criteria: an appealing, contemporary design; a useful functionality that helps users deal with their problems, and ease of use can be stated as a user on a website accessing the homepage within 3 seconds of opening the link, and maximum availability, the design must enable high performance and security as well. 

To have an improved design process we must consider 3 things.

  1. Get to know your project purpose well enough. Carefully examine individuals for whom the product is meant to pinpoint the best possible course for future product design.
  2. Be not afraid of issues. Make it a task for your team to identify and resolve them, instead. You’ll probably need to redo the outcome if you consistently put off solving problems or entirely miss them in favor of focusing just on the tasks you excel at.
  3. Strategizing your budget in compliance with the design needs is also essential, as it can get both the client and designer in an indecisive spiral where the finances and requirements don’t go side by side.
  4. The elements in the design to produce or modify are:

The user flow guides users through a series of processes from their entry point to a successful conclusion and end action, such as end-users purchasing a product.

Low-Fidelity or Lo-Fi wireframing is a basic wireframe that describes the layout of web pages or app displays. They assist you in conveying the “main idea” of your product rather than the specifics.

A prototype is an early version of a product that has been produced to test functionality. System analysts and users typically utilize a prototype to assess a new design that aims to increase precision. In certain models of the design workflow, the stage between formalizing and evaluating an idea is the creation of a prototype. 

  1. Quick Evaluation

Quick Evaluation is important because it enables teams to determine whether their design is effective for their users. Since testing with high-fidelity designs yields more insightful feedback from end users, the evaluation phase typically begins after the high-fidelity design is complete. The team validates the product with end users and stakeholders through a series of user testing sessions. Evaluation is a crucial phase in the design process where designers would test the prototype. 

2. For products that require quick UI with detailed research on UX:

When the clients ask for enhancement of the user experiences based on real user data having thorough research of user experience to launch any product, in this type of product launch the focus is on the detailed research of UX for the product with a short launch window having a simple quick UI. This sort of product is studied and data is gathered using user feedback, reviews, surveys, and the normal initial procedures discussed above. Understanding, Branding, Design, Quick Evaluation, and designer’s testing prototype. 

The client can now onboard investors using this prototype OR enter the market. Meanwhile, the UX designers would begin gathering data in preparation for the launch of the next edition, which would have a better UX and be more user-centered. The continued procedures would include:

  1.  In-Depth Evaluation

In the deep evaluation method, the team runs usability testing, qualitative testing with moderated usability testing, and quantitative via data gathering through product usability interviews, social survey forms, product communities, testing groups from actual users etc. For testing a running piece of design there are multiple ways to achieve that. One is the Qualitative + Quantitative usability testing through Maze

  1. Research

If you are wondering about the research after launch then yes! We strongly abide by the rule of iteration. Iteration is the key to a brilliant UX enhancement.  

The product launch research process can be broken down into seven general steps: understanding the market and the competition, focusing on the customer, developing a distinctive value proposition, choosing a marketing strategy, testing the product and general strategy, launching the campaign, and monitoring the overall lifecycle. These steps include Competitive Analysis, User Interviews/Personas, focused groups, Affinity Mapping, Journey Mapping,  Information Architecture (Optional), and User Flows. 

  1. Design Refinements & Final Evaluation

Design refinement can be defined as the process of changing a concept to make it more useful/easy to use or aesthetically beautiful. Renovating a certain design element, such as a web page’s layout, to make it easier to view.

In design refinements, the design system, UI, and prototype are modified if requested by the client. In this final testing, the product’s usability is examined. Both comply with Qualitative and Quantitative separately and at once. 

This final evaluation helps to provide proof to the client about any change history, also maintains a log, and that the product is tested and verified, etc. 

3. For Products that have enough time to follow UX Processes and want to get into the market with a User-Centric Product.

The final product category in which the time is fully invested to follow the thorough UX processes on to the product, making it a user-centric product. These products are called user-centric because they follow User Centric Design (UCD) in which the user is the heart and soul of the product. The needs, goals, and feedback of the consumer when creating digital products are the top priority. 

This type of process follows the same initial procedure in understanding the business, gathering the requirements via surveys and forms then branding the product having a signature theme and consistent design. The design and Evaluation follow the same procedures as above. However, In the research phase, a few new options are involved. 

  1. Understanding
  1. Branding
  1. Research
  1. Design
  1. Evaluation

A heuristic evaluation can be used to determine how user-friendly a website is. In other words, it evaluates how usable the website is. In a heuristic evaluation, unlike user testing, where users assess the website (or prototype), the site is evaluated by usability specialists.

To conduct a heuristic evaluation, the experts perform Usability testing inclusive of

Summary:

User diversification experience is the common lacking point of most Web3 products. It is not an impossible approach to reach every category of the user, but the design can be made smooth, consistent, and attractive enough to get a massive percentage to adopt this young technology. The UX is said to be the heart and soul of any product-based business.

It has a 400% conversion rate of potential to convert one-time clients to your daily users. Brands need to focus on the User Experience as much as or rationally speaking more than other areas. The above processes are curated to help Web3 design companies follow a guide and produce compelling products with a high conversion rate and user concentration respective to their type of category of product. 

Expedite Live Design Supported Products

We take pride in successfully completing and deploying satisfied clients’ products. The experiences that we gained in the design processes are all part of our learning to make the processes more user-friendly in the future. You can check Unipilot and Metadot to see live results. Check out our work for more inspiration.

What Is GameFi? A Beginner’s Guide To Blockchain Games

This guide brings the objective to restructure the way people think about the Gaming industry or GameFi, how blockchain is part of it, how it gives ownership and more control to players, brings new global friends using decentralization, and establishes the earning habit while playing games.

GameFi allows users to earn incentives for playing games and matches players with shared interests via a peer-to-peer approach. Gamers may make new acquaintances and take part in international gaming events thanks to GameFi.

First, let’s understand the few concepts to bridge the gap between conventional games and Blockchain-based games.

Conventional Games vs Blockchain-based Games

Despite not being restricted to certain platforms like smartphones and desktop PCs, blockchain games and conventional games mostly function differently. Here are four distinctions between blockchain games and conventional video games.

1. Who’s in control?

The standard video games or conventional games as we have played in the past end when the player has achieved the conquest or the character ran out of lives. Where does all the data go? What happens next? IT only starts over as a fresh game. In centralized gaming models, all player data, and game-related intelligence including player account information and all of the events and in-game items users acquire on their virtual journeys, is kept on servers that are entirely under the authority of the game producers or administrators. 

In addition to the fact that players never actually own their own data or the in-game items, they spend countless hours earning, all of the aforementioned are also at risk of being taken or even lost forever in the event that the game developers themselves damage or shut down the servers. This means that the player itself is not controlling the events/happenings about his character. Whereas, in blockchain games there is a strong belief in decentralization. We will discuss that in detail below.

2.  Where do the accomplished game assets go?

It is indeed a milestone for players when they win hard levels, reach the finale, and end the game with an amazing victory. After winning in traditional games, the player is bestowed with all the coins, cups, new skins, diamonds, and relevant game assets. Once the game ends all the assets are gone. And while remaining in the game, the assets are accessible on that system only with no procedure of sharing or using the swags afterward. 

For obsessive gamers, it would be a dream come true to keep the items even after the game stops. The rewards acquired are limited to being used in the next level or sometimes the rewards are purely visual and have no effect on the earning and gameplay. The revolutionary gaming industry known as the Blockchain or Web3.0 gaming industry has changed its concept and put a lot more into the game assets being only static assets.

3.  What’s in for the next level of game?

With traditional technology, players can not actually get info about the procedure, and activity going on behind the video game screens. It restricts the freedom of players where they can truly take a peek behind the scenes. This is a lack of transparency in the older game-plays. 

The trust that players and game producers have in a game is increased by this level of openness. Gamers may observe every move done by developers and other players, eliminating the need for them to wonder what is occurring in the server of a game they have spent hours playing. However, in Blockchain gaming development, games offer expandability chances for ongoing game improvement in the industry and allow a fault-free and righteous gaming ecosystem. 

4.  Having permanent storage to increase reliability:

Since conventional video games are centralized, there is an enormous risk of losing everything you have played so hard to obtain. The only way to save your massive win and show it to your circle is by taking a screenshot of the final screen and framing it which does not sound like a rational approach. With blockchain games, this is not the case because of decentralization, as stated earlier. 

The blockchain factor in games will store all game data on the Kronoverse/FYX platform. With Kronoverse’s Twitch-like match viewer, games that have been permanently saved may be broadcasted while still allowing for game replays. This implies that you may review earlier games to learn from your failures and achievements and advance your knowledge and skills.

What is Game-Fi?

The phrase “GameFi,” which combines the terms “gaming” and “decentralized finance” (DeFi), refers to the incorporation of blockchain technologies in the gaming industry for monetization and other uses. Particularly smaller publishers take advantage of the tokenization option to monetize their games. The tokens are often released as part of an Initial Coin Offering and are based on the ERC-20 standard of the Ethereum network (ICO). This helps to pay for the expenses spent during the game’s production. Players get automatic tokens from the publisher via smart contracts in return for a payment using currently available cryptocurrencies, and they may spend those tokens in the game that is subsequently created.

It blends cryptocurrency, blockchain, non-fiat currencies (NFTs), and game mechanics to provide a virtual world in which users may engage and make money. GameFi has a “play-to-earn” business strategy. This idea is around offering players cash incentives to play games and advance through the stages. Some blockchain games let players make a full-time living while they play.

Such gaming initiatives are introduced on the blockchain distributed ledger. This implies that any items players obtain are fully their property.

For instance, some blockchain games offer rewards for in-game achievements, while others let players generate income from the many assets they hold.

Game-Fi background -the revolution:

The end of 2017 saw the global growth of the pet-raising game CryptoKitties, which is built on Ethereum smart contracts. In the first seven days after its introduction, the game’s transaction volumes surpassed $1.9 million, and it was so well-liked that it clogged the Ethereum network. Due to CryptoKitties’ popularity, traditional and online gaming firms have flocked to blockchain gaming. AxiomZen, the firm that created the video game CryptoKitties, received $70 million in a Series A investment a month later. Numerous strategic, role-playing, simulation, and other blockchain games have since been released.

However, the word “GameFi” publicly appeared in presentations given at China’s Wuzhen World Blockchain Conference in November 2019 by the founders of MixMarvel, a blockchain game publishing platform, about how the technology behind cryptocurrencies may transform the video game business.

Numerous blockchain games with NFTs, DeFi, and other components have surfaced since June of the year 2021, under the slogan “Play to Earn.” The most notable example is the pet-game Axie Infinity, whose single-day revenue of $9.72 million quickly eclipsed that of Tencent’s well-liked mobile title “Honor of Kings” in a matter of months. Over the course of just two months, the value of its tokens AXS and SLP increased more than thrice. 

Five of the top nine applications according to DApp rankings are GameFi apps. Since the summer of 2022, GameFi has had more unique users than DeFi, and as a result, it now accounts for most of all Dapp users. Game-Fi has 9.21 million weekly active users as of the beginning of December, a record number.

The two important reasons why the rise of the Game-Fi revolution happened are; The first is the freedom of trading in-game resources, which is expressed both in the freedom of trading items and the freedom of trading prices. Traditional gaming models’ transactions resemble those of planned economies to some extent.

The second element is the open pricing and trading of in-game money. Although game currencies cannot be directly monetized through official channels, it has been neglected by many experts that it is feasible to generate real money from the game currency by selling in-game objects or props for money on underground black markets. But doing so results in high transaction costs.

How does the Game-Fi system work?

The mechanics of various GameFi projects differ. In-game things often take the shape of avatars, lands, outfits, weapons, currency, tokens, and pets and are created as non-fungible digital tokens (NFTs). As a result, you can prove that any in-game stuff you buy is entirely yours.

As they play the games, users claim these things, which they can then sell for profit on NFT marketplaces or convert into well-known cryptocurrencies. Most of the time, in-game items are NFTs that operate on the blockchain and may be exchanged on NFT exchanges. However, in some circumstances, users cannot buy or sell in-game assets until they have been transformed into an NFT.

Typically, the in-game items will provide players with certain advantages so they can earn more prizes. However, some games also provide cosmetics and avatars that are entirely aesthetic and have no bearing on the game’s gameplay or revenue.

Depending on the game, players can gain prizes through completing missions, engaging in combat with other players, or constructing buildings that can be sold. Through staking or by lending their in-game assets to other players, several games can allow users to earn passive revenue without actively participating in the game.

Important Features of GameFi projects:

    Play-to-earn model (P2E)

Players may earn money for achieving game objectives in several blockchain games. The native token reserve stored within a smart contract is often where the money granted in these play-to-earn games comes from.

It differs significantly from the pay-to-play business model used by conventional video games. Pay-to-play games need players to make an investment before they can begin. Video games like Call of Duty, for instance, demand that users buy licenses or recurring subscriptions.

Most of the time, gamers of traditional video games won’t see any financial gains, since the gaming industry controls and owns all of the in-game assets. P2E games, on the other hand, may give players total control over their in-game possessions while simultaneously providing them with chances to make money.

Depending on the game, players can gain prizes through completing missions, engaging in combat with other players, or constructing buildings that can be sold. Through staking or by lending their in-game assets to other players, several games can allow users to earn passive revenue without actively participating in the game. Let’s look at a few of GameFi’s standard features.

    Ownership of digital assets

Because digital asset ownership is made possible by blockchain technology, gamers may earn money from their in-game assets in a variety of ways. Blockchain-based games provide this wonderful fortuity to gain any valuable item from the game forever in your ownership even after the game ends. Everything you win, gather, or buy becomes your property, and it is kept in your virtual wallet.

Players may own avatars, pets, homes, weapons, equipment, and much more, much like in video games. However, in GameFi, these assets may be produced as NFTs and issued (also known as NFT minting) as well. As a result, gamers may fully control their goods and ensure their validity and ownership.

This protects you from the possibility of losing any in-game stuff if a game crashes in the middle of a match or your account is suspended. In the event that you lose Internet access after triumphing in CryptoFights combat, for instance, you still have all of your armor and weaponry. You may still trade stuff even if your account is suspended, keeping you from being totally shut out. You can trace every transaction, from purchases to exchanges, thanks to blockchain technology.

The notion of land ownership is emphasized in certain well-known metaverse games, like Decentraland and The Sandbox. They let users earn money off of their virtual property. Gamers may buy digital plots of land in The Sandbox and develop them to make money.  

    DeFi integration

DeFi items and functionalities are also offered by several GameFi initiatives. Players often risk their in-game tokens to get awards, gain access to premium products, or advance through the game’s stages.

The addition of DeFi components can further decentralize crypto gaming. Some Game-Fi initiatives let the community take part in the decision-making process, in contrast to traditional game companies that centralized control over their game updates. Through decentralized independent groups, they can suggest and vote on the next upgrades (DAOs).

Games on the blockchain are decentralized as said, which gives users and game producers more flexibility and security. The innovative environment that blockchain game developers build gives players more freedom to play and enjoy. Due to its decentralization, blockchain games vary from conventional video games like Grand Theft Auto and FIFA. DAO in Game-Fi gives freedom to the collection of individuals working together toward a common goal or project who, through the use of tokens and the blockchain, enable their members to cast votes. Game-Fi DAO also allows the players to team up and represent as a team like e-sports and share the reward. Blockchain games let you monitor and examine every action you’ve ever performed as well as the actions of other players

Players in Decentraland, for instance, may vote on organizational and in-game rules by locking their governance tokens (MANA) in the DAO. Their voting strength increases as they lock more tokens. This makes it possible for players to interact with game designers directly and affect how the game is made.

Making Friends Around the Globe:

Millions of gamers now have the chance to mix their gaming with partnerships. New resources are provided to developers for marketing and reimbursing NFTs and games. The selling of unique skins, things, and characteristics also brings in money for the investors.

As the gaming business becomes increasingly well-known every day, more influential players are joining forces with several top-tier GameFi and NFT initiatives to provide new, lucrative possibilities and features for the whole network.

This is bridging the gap between the global network and compiling a huge set of players into friend zones. People meet and greet at the GameFi events, and realize that they have met their virtual opponents, friends, and allies.

Following are some of the multiplayer games that let people compete, play, and fight in groups against other teams and earn a mutual reward, these made it huge into the industry:

·         MMO RPGs

MMORPGs stand for massively multiplayer online role-playing games. These games provide players the chance to trade, strategize, explore, earn gold, craft, and even compete within a network pool of other players and teams.

·         Battle Royale

It hit the news not very long ago that “The Next War Launches the First Blockchain-Based Battle Royale Style GameFi”. This is a great turn for all the Royale fans that they will now be joining the futuristic tech within their favorite game. 

·         Arcade

The Web3 arcade has a 5-step rule. 1. Stake 2. KYC 3. Apply whitelist 4. Buy 5. Claim and that is it. The players can play any game from the arcade using Multiplayer or solo mode abiding by these guides.

Final Note:

GameFi is projected to continue expanding quickly as blockchain technology continues to advance. It is incredibly well-liked, particularly in underdeveloped nations, because it allows users to buy stuff in games and profit from them.

It’s simple to understand how GameFi attracts gamers by providing both entertaining and monetary effects. It is expected that as blockchain games gain popularity, more and more significant businesses will begin to develop the metaverse. However, initiatives like Axie Infinity, Illuvium, and LOCGame will pave the path for the gaming generation by creating the subsequent ecosystems that will enable this market to reach its full potential. As we approach 2023, their creative fusion of NFT, DeFi, and traditional gaming mechanics has established GameFi as a leader in this market.

NFTs Are Not Just JPGs, Yes You Heard That Right!

After seeing an internet-breaking post that says something like, “Duct-taped Banana picture sells for $120,000”, you must think that how can a regular picture; A: get so much fame on the web? And B: Is bought and sold for thousands of dollars. The reality behind the image is that it is more than just a JPG image, it is an NFT. Now to learn what is an NFT and how it is different from any regular image, let’s tune in!

People mostly fail to explain what actually an NFT is when attempting to explain NFTs to those individuals who are unfamiliar with blockchain and are outside of the trading environment. You’ve probably seen or saved snapchat avatars, making different poses , which isn’t a bad comparison to make when talking about the interest in collecting NFTs, but it doesn’t explain what the distinction is between buying one and simply storing others as a JPEG.

It must be puzzling to find out why these little images sell for such absurdly high rates when virtually everyone can right-click and download the same images for free. Let’s begin but, before diving into the core difference between the Non-fungible token (NFT) and Joint Photographic Experts Group (JPEG) the two terms must be described and then differentiated.

What are JPEGs or JPGs:

JPEG or JPG is an image format. It is considered as a digital picture data that has been compressed and is contained in the JPG format. JPG format includes crucial image information. It is the most used image format for exchanging pictures and online images shared and uploaded by mobile and PC users. 

Thousands of photographs may be stored in a tiny amount of memory due to the small file size of JPG images. JPG pictures are frequently used for editing and printing. Most images that have been modified with CorelDRAW, Adobe Photoshop, InDesign and Illustrator are saved in JPG format. 

These images are shared, downloaded, uploaded, saved, and used in many ways with and without consent as mostly there is no ownership attained with the data of these files. Does this sound like an issue, when your created image gets used by somebody else without credits? Well it sure does. This is where NFTs come in so let’s explore NFTs.

What actually are NFTs:

NFTs (Non-Fungible Tokens) are digital assets that have a distinctive ownership mark.  Fungibility means for an item to be replaced with another item of some value. Like interchangeable objects or goods. Whereas, Non-fungible items are those that have unique value and can not be replaced or exchanged by any other item.

Exactly as it sounds like, a non-fungible token is a token(Unique, one-of-its-kind). Tokens are digital assets created on a particular blockchain and defined by a project or smart contract. Tokens come in utility and security types. Consumer or incentive tokens are other names for utility tokens. A Non-Fungible Token is entirely hard to copy, much like Bitcoin or Ethereum tokens. But these tokens are attached to external media, like JPEGs, tickets, paperwork, etc. 

The assets that NFTs represent are said to be non-fungible as they are distinct and non-transferable. For instance, you may exchange a $10 note for ten $1 bills. A special membership card, used for transactions at the specific hotel cannot be exchanged for another identity, debit, credit or another membership card because paying off using another card would not hold the same value set by and for different markets. And thus, it is not interchangeable.

Actually, NFTs operate quite similarly to the majority of cryptocurrencies. But they are digital files stored on the same blockchains, not tokens that are traded for different platforms and projects. NFTs differ from trading tokens. To read further, this is explained in detail here

How is NFT different from JPG:

When comparing NFTs to JPG, the “non-fungibility” factor would be the most significant NFT advantage. NFTs are digital files known and considered valuable objects, much like vintage cars, art pieces, or gold bars. NFTs are stored and exchanged as a digital asset on a blockchain. An NFT possesses ownership and transferability attributes that are absent from standard JPG, PNG, or PSD files, so it provides additional elements to the NFTs. These properties and more characteristics of NFTs can be discussed as:

The choice for scarcity is the first characteristic of non-fungible tokens that sets them apart from JPEGs. Only a few well chosen works of art can be produced by NFT engineers or artists, increasing scarcity.

The most apparent difference between NFT and JPEG would likewise be related to ownership. Non-fungible tokens run on a distributed ledger, and the holder of the private keys of that NFT on the blockchain controls it. If you own an NFT, you are the only one who has the authority to sell or transfer it to another account.

NFTs’ non-interchangeability characteristic makes them stand out in terms of utility. While DAOs are expanding the possibility of community ownership of NFTs, it is possible to split an NFT into two separate halves in order to sell it. One fundamental characteristic of NFTs’ non-fungible nature is their non-interchangeability.

The distinctiveness of NFTs is the last factor to be considered in comparing the two. Non-fungible tokens feature distinctive metadata that is virtually impossible to change. With the aid of provable authenticity, you will be able to identify the NFT and JPEG.

In addition, non-fungible tokens differ from JPEGs in that they may be traded on various blockchain-based platforms. NFT investors have the freedom to explore new opportunities thanks to the unrestricted ability to trade NFTs across all platforms.

Transparency is another important feature of NFTs that sets them apart from JPEGs. The decentralized and unchangeable public distributed ledgers containing comprehensive information on the NFTs are accessible thanks to the NFTs’ base on the blockchain. As a result, NFT transactions stand out from ordinary digital photos due to their openness and assurance of verifiable validity.

Are NFTs only artworks?

While non-fungible tokens offer the potential for numerous more use cases, the majority of conversations surrounding NFTs frequently focus on demonstrating that NFTs are not just JPEGs. NFTs are frequently associated with artistic work and are seen as more sophisticated and secure JPEG alternatives. Non-fungible tokens, however, have a wide range of uses that go beyond the realm of the arts. Undoubtedly, non-fungible tokens have given digital artists and content creators all around the world a useful tool.

On the contrary, in order to fully grasp NFTs’ capabilities, it is crucial to investigate how they may be used in areas other than art. It’s interesting to note that some assets have non-fungible tokens created as certificates or deeds.

Existing Use Cases of NFTs 

NFTs can be used for multiple purposes, few are listed below:

  1. Music making

Anybody can purchase your original musical creations in the form of NFT. The composition may only be used in accordance with the owner’s wishes.

  1. Gaming Industry

In the gaming industry, gaming NFTs offer the finest use case. NFTs can be used to buy and sell exclusive game characters, avatars, and stuff. As an illustration, consider buying weapons for the game from the NFT market.

  1. Land Ownership

An NFT can be used to represent real estate or land. It would be useful in presenting ownership documentation, owner biographies, etc. It is also conceivable to develop decentralized services for home rentals.

  1. Ticketing

Paper tickets for parking, transportation, and other services can be substituted by NFTs, for validation.

  1. Supply chain

NFTs can enable businesses to follow the progress of tracking the products from manufacturing to shipment and delivery. Customers can see what they are paying for thanks to this, and the supply chain of a business is kept transparent.

  1. Voting 

NFTs can give individuals a digital identification that demonstrates their identity and place of residence in the nation. As NFTs will act as an official record of people who installed their votes, this will also aid in the elimination of voter fraud and cheating.

  1. Artwork Monitoring

Many pieces of art are easily duplicated today, and it might be challenging to identify the original owner. We may confirm the legitimacy and ownership history of NFTs by using them. Additionally, this guarantees the authenticity of the property for NFT owners.

So why do people buy NFTs?

According to a survey conducted over twitter (as there is the most blockchain technology people pool resides), it shows that the major chunk of people purchase NFTs for gaining value, making money etc. Second on the line is the ratio of people who collect NFTs for community and flexing their assets. Then there are those who are artists or aesthetes who collect it for the artworks and lastly the ratio represents the gaming industry associates who quantify their gaming assets and tools. 

Where can we buy NFTs from?

Now we understand that NFTs are special products that are incomparable to other things. For instance, a unique celebrity-signed card is an NFT since you cannot just swap it out for another card. Your card will become different if you exchange it with another card. These are distinct from fungible things, which are frequently interchangeable.

The majority of NFT platforms demand that customers utilize cryptocurrency and a digital wallet to complete their transactions. Not all NFT markets purchase and sell every type of NFT since different NFTs employ different blockchain technologies. It’s common for creators to base their decision on an NFT marketplace’s support for a certain NFC token standard.

The following are some of the leading NFT markets: 

1. OpenSea

2. Rarible 

3. SuperRare

4. Foundation

5. Magic Eden

Final Note

The distinctions between NFTs and the typical JPEGs found online demonstrate the uniqueness of NFTs. Also reading through the section, “what are NFTs” we get the idea that Non-fungible tokens have a particular evidence of ownership, rarity, and uniqueness. These characteristics are not present in JPEGs. NFTs don’t merely apply to artistic creations, either. NFTs have several applications, including representing real estate or metaverse assets, which give a peek of their future potential. This article also includes how to buy NFTs and what are the marketplaces that can be explored where it is explained where to buy NFTs.

NFTs are more than just JPEGs, but it’s also crucial to understand that not all non-fungible tokens are created equal. In fact, providing control and ownership over assets—whether digital or physical—is the fundamental concept of NFTs.