Interaction in the Metaverse: Preserving the Value of Digital Assets

Interoperability is becoming increasingly important in the expanding metaverse space. Previous generations of Web3 and Metaverse games suffered greatly from a lack of cross-platform compatibility.

However, new advances in functionality are breaking down these silos and allowing platforms to deliver a more immersive experience. BeInCrypto talks with Ilman Shazahev, Founder and CEO of Farkana, about how we engage with the virtual world and nurture the next phase of digital evolution.

Dissecting ciliated game ecosystems

Lack of real ownership is a constant issue in traditional games. Players spend countless hours and precious dollars building characters and assets, only to be locked into one game. This issue has been transferred to a converter to some extent.

Locking up one person's assets in a single blockchain network leads to a previously isolated and limited user experience. Therefore, this barrier must be broken in order for Metaverse to grow and deliver immersive experiences, which is the true essence of this technology.

Interoperability solves this problem by allowing assets, achievements, and identities to move across platforms and networks, transforming interactions with virtual worlds. This approach empowers players and lays the foundation for a connected MetaVas ecosystem where digital assets hold real-world value.

“Blockchain gives players control over their virtual assets across multiple environments,” said Ilman Shazaev, founder and CEO of Farqana.

Breaking down barriers with blockchain

Tokenization is at the heart of functionality in the metaverse. Tokenization of assets as NFTs makes in-game items such as avatars and weapons unique and portable across platforms. Tokens turn these items into digital assets that players can use, trade, sell or rent.

“This avoids the trend of worthless microtransactions we see in many AAA games today. You level up and unlock a new skin, but what's the value? Blockchain allows players to extract that value from their in-game assets,” Shazahav said.

Platforms like Farkana show how blockchain can integrate interaction with gaming. Farkana allows players to save in-game assets, making them tradeable or usable in other compatible environments. Similarly, Decentraland takes this idea even further by allowing users to transport avatars, virtual real estate, and other items to different Metaverse platforms.

This functionality enhances user engagement, creating a wider ecosystem where time and effort in one area can be transferred to others.

In-game assets provide players with a richer, more meaningful gaming experience. However, according to a survey from EY-Parthenon, gaming assets are not among the most coveted digital assets by a long shot. Repeating the survey between 2022 and 2024, gaming properties saw only a 4% increase and ranked seventh overall. With increased interactivity, players will be more willing to invest if they get more bang for their buck.

Developers will benefit equally from the functionality. By connecting their games to a wider ecosystem, they can attract a diverse audience and create new revenue streams. For example, Farkana has expanded its in-game economy to a marketplace where players can trade items or contribute to prize pools.

Similarly, Decentraland hosts unique weekly events that showcase how interoperability drives participatory ecosystems with its growing user base.

Challenges in achieving interoperability

While interoperability promises a new era of gaming and dynamic experiences, it also faces significant obstacles. Measurement remains a critical issue.

In the year As of 2023, Ethereum, the leading platform for gaming, can process 15-30 transactions per second (TPS), compared to 193 TPS on PayPal's network. This comparison leads to higher transaction costs and slower processing times, which can disrupt seamless gameplay.

Complexity is another major obstacle. Blockchain games require players to set up wallets, buy tokens and manage digital assets. In the year According to the 2024 report, 10% of traditional gamers said that these complexities are a barrier to the adoption of blockchain-based games.

Overcoming these challenges requires developers to streamline onboarding processes while maintaining blockchain's key benefits of transparency, security, and ownership.

Awareness also remains a barrier. Many players still view blockchain games as less fun than traditional games, associating them with speculative behavior and financial incentives. Shazhaev reflects on this change:

“Developers are now optimizing game-to-earn frameworks to create sustainable ecosystems that prioritize gameplay quality over short-term financial gain,” he added.

By focusing on game-first experiences, developers can resolve uncertainty and encourage long-term engagement.

Despite these challenges, interoperability is brilliant. Unified marketplaces will soon allow players to seamlessly exchange assets across multiple platforms, creating liquidity and long-term value for digital goods.

Dynamic assets, or objects that adjust their functionality based on the platform or game, are another promising innovation. Imagine a sword from a fantasy RPG as a decoration in a fantasy home or a weapon in a survival game. This is what a truly immersive experience should look like.

These developments are consistent with broader trends in the gaming market. Investments in blockchain games increased, reaching $1.1 billion in Q2 2024, a 314% increase from the previous quarter. This rapid flow of capital shows a strong belief in blockchain-based interoperability.

According to Statista, the expected market size for Metaverse games is expected to increase by 2030, with a market value expected to reach $168 billion.

Shazhayev envisions a connected metaverse where players and developers will benefit from these developments:

“Blockchain allows us to build an ecosystem that benefits gamers and developers alike, opening up new opportunities for engagement and innovation,” he concluded.

Overall, interoperability represents a fundamental shift in how gaming and the metaverse work. By breaking down silos and enabling cross-platform interactions, blockchain-powered interactions are transforming isolated digital experiences into a unified and collaborative virtual universe.

Projects like Farcana and Decentraland are paving the way by showing how blockchain can empower players and developers. However, challenges such as scale, complexity and perception issues need to be addressed to achieve widespread adoption.

As blockchain technology continues to evolve, interoperability will play a central role in shaping the future of MetaVas. Integrating such technologies allows game studios to deliver immersive and infinitely scalable experiences that change how we interact with digital spaces.