Cardano-based Pavia Project
A significant change is about to happen to the first and maybe biggest Cardano blockchain-based Metaverse. We’re referring to the Pavia project, which recently revealed updates to its homepage as well as improvements to the digital world’s layout. At the height of the excitement surrounding this virtual currencies market niche, Pavia was introduced in 2021. Players may purchase real estate and in-game NFT or CNFT products here, just like in another well-known project called Sandbox, by using PAVIA or ADA tokens. According to the JPG Store, approximately 18,000 individuals have purchased properties in the Pavia Virtual world since it first launched, with a total transaction value of more than 28 million ADA.
The extended decline of the cryptocurrency market gave the impression that traders would rush to sell their highest-risk, most lucrative holdings first. In the end, NFTs and Metaverses were the most impacted industries. These marketplaces still have bright futures ahead of them, and any crypto game ventures that are still operating today will probably benefit greatly from this.
Future of Metaverse
The prevalence of virtual environment and cryptocurrencies will be the key drivers of development, according to a recent study report from Technavio, which projects that the Metaverse property market alone can increase by more than $5 billion within the next 3.5 years.
At the same time, it is believed that the biggest barrier to the market is the difficulty of impartially determining the true worth of commodities in metaverses. This makes perfect sense since the biggest Metaverses are built on Ethereum, where even gas expenses severely exhausted investors’ bank accounts and, as a result, the market has a propensity to inflate. The ideal bubble is created when you combine these factors with the extreme enthusiasm and desperation of market players. At least for Cardano, there are no issues with fees or price. Maybe projects running on this specific platform will have an edge in the coming years.