Metaverse Public Chain: Building the Infrastructure for the Digital World

The Metaverse public blockchain is an infrastructure-level open blockchain designed for the Metaverse and decentralized digital worlds, providing necessary technical preparations and underlying development platforms for Metaverse developers.

The public blockchain of the Metaverse provides data storage and transmission, NFT minting and splitting, distributed computing, rendering, and other functions, bringing us closer to the vision of the Metaverse.

This article will focus on the Metaverse public chain, including two important components: decentralized rendering networks and game public chains.

The decentralized rendering network completes rendering tasks by integrating idle GPU resources from around the globe. The gaming public chain creates a development and operation platform for NFTs and blockchain games.

Overall, the public chain of the Metaverse is in the early stages of development, and the main task at this stage is to build the decentralized backend of the Metaverse, including computing, storage, querying, and networking.

Before achieving the Metaverse and Web3, the Metaverse public chain still has a lot of room for improvement and needs greater scalability to realize large-scale consumer applications. The Metaverse public chain needs to enhance its integration with technologies such as VR, AR, and AI to provide users with a better Metaverse experience.

Metaverse Public Chain Overview

The Metaverse public chain is an important infrastructure in the Metaverse track, providing development and user experience platforms for NFT, GameFi, and Metaverse projects.

Currently, the Metaverse is in its early stages of development, with a strong demand for infrastructure construction. This demand comes from data storage and distribution, 3D, payment methods and identity credentials for the Metaverse, cloud computing, etc. These needs have facilitated the development of public chains in the Metaverse.

The Metaverse industry can be divided into five layers: infrastructure ( computing power, cloud, etc. ), digital infrastructure, development tools, basic ecology, and user end.

Infrastructure: computing power, cloud, etc. For example, in a decentralized rendering network, rendering nodes complete rendering tasks by contributing idle GPU computing power, meeting the 3D rendering needs of the Metaverse.

Digital Fundamentals: Blockchain, Internet. All decentralized Metaverse projects are based on blockchain technology.

Development tools: 3D engine, VR/AR. For example, some projects provide creation tools that support 3D game materials/models, NFT minting trading and splitting tools.

Basic Ecology: Developers and Applications. The Metaverse public chain provides developers with development kits to help them build Metaverse applications based on smart contract platforms. Some Metaverse public chains introduce EVM equivalence, making it easier for developers to migrate Metaverse project smart contracts from other EVM-compatible chains.

User side: Projects built on the Metaverse public chain, covering categories such as NFTs, blockchain games, entertainment, social, and more.

Currently, the market size of decentralized Metaverse projects has surpassed 10 billion US dollars, with the market value of Metaverse projects reaching 11.48 billion US dollars, accounting for 1.1% of the total market value of cryptocurrencies.

In the Metaverse concept projects, the top five by market capitalization are ApeCoin, Decentraland, The Sandbox, Theta Network, and Axie Infinity.

The two largest categories of public chains in the Metaverse are decentralized rendering networks for deploying Metaverse projects and gaming public chains.

The decentralized rendering network integrates idle GPU resources from around the world and inherits the distributed characteristics of blockchain itself. Users can earn token rewards by contributing their idle GPU computing power for rendering tasks.

The game public chain is a public chain specifically designed for NFTs and blockchain games. The high TPS, low gas fees, and relatively low network latency of mainstream game public chains provide a good experience for users such as blockchain game players, blockchain game developers, NFT issuers, and NFT traders.

Introduction to Representative Metaverse Public Chain Projects

Decentralized Rendering Network

Caduceus

Caduceus is a decentralized edge rendering protocol for the Metaverse, dedicated to providing decentralized rendering, edge computing, 3D technology, and XR extended reality services to Metaverse developers and creators.

Caduceus has created an open system for computing power supply, where each user can join the platform through Caduceus's technology modules and contribute GPU computing power resources to provide services for industries such as film and television, traditional gaming, and AI.

Caduceus will complete edge rendering on cloud GPUs for computation, rendering, and storage, transmitting it to the display terminal through a streaming process. With its massive computing power and elastic usage characteristics, it shortens the rendering cycle, improving efficiency while reducing costs.

The core components of Caduceus include a decentralized content distribution platform, high-performance Metaverse infrastructure, and barrier-free migration.

Caduceus has launched the mainnet version 1.0 in Q2 of this year and will launch the mainnet version 2.0 in Q4. Caduceus will successively launch XR-SDK, 3D-Vlog platform, creator platform, and edge rendering version 2.0 next year.

Caduceus completed a $4 million Series A financing in March this year, led by a certain crypto investment company, with participation from multiple institutions.

The number of Caduceus ecosystem projects exceeds 50, with supported project categories including cross-chain bridges, DID, blockchain games, Launchpad, and more.

iPolloverse

iPolloverse is a Metaverse public chain project that uses Web 3D as its main technical route, completing rendering tasks in the form of a distributed computing power network, and supporting global users to provide idle GPU computing power for mining.

The technology stack of the distributed computing network is summarized as 4A technology: Web 3D architecture (architecture ), Advanced Network, AI, Avatar (化身 ).

The iPolloverse test network has reached the capability to support 500 users with 1 GPU, with each user having a 3D avatar comprising 15,000 facets, and the server bandwidth for each user has also been reduced to 300 Kbps, thereby lowering the cost for each user by three orders of magnitude.

iPolloverse has set four phases of growth targets. According to the fourth phase's goal, iPolloverse ultimately plans to operate over 100,000 GPUs on the network, achieving a storage capacity of 800PB and a network TPS of 20,000.

Game Public Chain

WAX

WAX is a blockchain ecosystem specifically designed for NFT, GameFi, and Metaverse projects, where users can create and trade digital assets related to NFT, GameFi, and Metaverse projects on the WAX blockchain.

There are over 200 applications on the WAX chain. The number of accounts on the WAX chain exceeds 13 million, processing an average of over 23 million transactions on the chain daily.

Well-known Metaverse games on the WAX blockchain include Alien World and R-PLANET.

In June of this year, WAX secured $10 million in funding from a certain institution to further develop its ecosystem.

Immutable X

Immutable X is a Layer 2 NFT platform that uses StarkWare's scaling technology. Immutable X allows users to mint NFTs with 0 Gas fees, with a TPS of up to 9000.

As of September 14, users have minted over 33 million NFTs on the Immutable X platform this year, completing over 7.5 million NFT transactions.

The number of projects within the Immutable X ecosystem has exceeded 80. Some well-known games in the ecosystem include Gods Unchained, Guild of Guardians, and Illuvium.

Immutable X's parent company, Immutable, completed its latest financing in March of this year, raising $200 million at a valuation of $2.5 billion, with participation from multiple institutions.

The Technology of Metaverse Public Chain

The Metaverse public chain will combine edge computing, AI, XR, and other technologies with blockchain.

Edge Computing

Edge computing is a network concept dedicated to bringing computation as close to the data source as possible to reduce latency and bandwidth usage. Placing computation at the edge of the network can minimize the long-distance communication required between clients and servers.

The decentralized rendering network Caduceus combines edge computing technology with blockchain technology. Edge computing facilities can provide computing resources and storage capacity for a large number of decentralized network services on the blockchain, while also addressing the high-speed transmission issues when there are a large number of nodes. Blockchain technology provides a trusted and secure environment for edge computing network services.

AI technology

AI refers to artificial intelligence. AI technology aims to research and develop tools for simulating, extending, and enhancing human intelligence. The digital humans currently available in the market are a result of AI technology. To make 3D character images and their language and actions more realistic in the Metaverse, AI technology is required.

The decentralized rendering network iPolloverse uses AI analysis and reconstruction, taking spatial units as pre-processed materials, while pre-transmitting the basic visuals of what each avatar( sees and interacts with in the entire spatial unit to the edge, and preloading based on the movement predictions of avatars in the Metaverse, improving loading speed.

) NFT technology

The NFT technology used in the public chain of the Metaverse is reflected in aspects such as on-chain assets, environments, and avatars. Taking the game public chain as an example, developers build Metaverse chain games based on the game public chain, where items, assets, environments, and character images in the chain games are all presented as NFTs. These NFTs can be traded on on-chain NFT trading platforms, in-game markets, and other places.

WAX, Immutable X, and Flow are blockchains specifically designed for NFTs and blockchain games, providing developers with tools for NFT minting, splitting, and issuing.

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Compatibility and Scalability of Metaverse Public Chains

) Compatibility of Metaverse public chain

The compatibility of the Metaverse public chain is reflected in its compatibility with virtual machines such as EVM and WASM, making it easier for applications from other public chains to migrate to the Metaverse public chain.

Taking Metaverse.Network and Ronin as examples, Metaverse.Network is the Metaverse public chain of the Polkadot ecosystem, compatible with EVM, which connects it to the Ethereum ecosystem, allowing smart contracts on Ethereum to run on the Metaverse.Network chain.

Ronin is a sidechain developed by the Axie Infinity team, allowing users to transfer assets across chains between Ronin and Ethereum via a cross-chain bridge on the Ronin chain. Ronin is an EVM-compatible chain that facilitates the deployment of future Ethereum ecosystem projects on Ronin, expanding the Ronin ecosystem.

scalability of the Metaverse public chain

The scalability of the Metaverse public chain is reflected in two aspects: network scalability and ecological scalability.

Among the 15 public chains in the Metaverse, several public chains' TPS### demonstrates their capacity for expansion by processing the number of transactions per second (.

The TPS of Immutable X based on Layer 2 exceeds 9000, while the TPS of Layer 1 public chains WAX, Flow, and Klaytn is also 1000 and above.

On the technical level, Immutable X adopts the zkRollup scaling solution, allowing users to mint NFTs with 0 Gas. WAX supports on-chain high-frequency calls to game contracts, handling high-frequency concurrent transactions.

The ecological scalability is reflected in the application scenarios of the Metaverse public chain, which extends from DeFi, NFT, GameFi, and the Metaverse to broader business scenarios.

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The Value of the Metaverse Public Chain and Its Historical Positioning

) The value of the Metaverse public chain

The Web3 layer in the Metaverse technology stack can be divided into four sub-layers: Web3 primitives, financial layer, Web3 infrastructure layer, and protocol layer.

Take the Metaverse public chain as an example to understand these four sub-layers:

• The representative project of the protocol layer is the cross-chain bridge on the Metaverse public chain.
• The representative projects of the Web3 infrastructure layer are data storage and transmission networks, rendering networks, and distributed computing networks;
• The representative projects on the financial layer are financial applications such as DeFi protocols and NFT trading platforms built on the Metaverse public chain.
• The representative project of Web3 primitives is NFT, which are assets that users can control and manage in the Metaverse.

The four sub-layers of Web3 are the Metaverse infrastructure that the current public chains are building for developers and users, allowing users to gain the rights to control, dominate, and trade virtual assets in the virtual world of the Metaverse.

The value of the Metaverse public chain in the Metaverse lies in providing users with a system for identity, data storage, and usage methods, offering users a realistic experience in the Metaverse through technologies such as edge computing and edge rendering.