Published on: 28/07/2022
Most popular Cardano Metaverse announces significant new updates
The first ever Cardano blockchain-based metaverse is due to receive a massive update. The update for the Pavia Project, announced on July 27, will feature revisions to the virtual world, as well as a brand new version available for download on the official website.
Pavia players can purchase in-game assets and land represented by NFTs or CNFTs using PAVIA or ADA tokens. This is similar to another large project titled Sandbox. Statistics put the Pavia metaverse, which was launched in 2021, as one of the largest projects, with a turnover of over 28 million ADA tokens.
Envisioning itself as a place where one can “run a business, host an event, advertise for others, play games or simply walk around and enjoy the evolving landscape”, Pavia has sold over 100,000 land parcels and features an active, thriving community and deep avatar customization. The avatar created for Pavia is compatible with over 1,000 other games and applications outside the metaverse.
The project is still very early in development, and it has yet to host its first live event. Despite this, there are over 17,000 land owners, with each land parcel having a unique Cardano NFT.
Players are currently not able to visit or deploy content onto their land parcels yet, but they can already interact with other community members with social media integration and cross-parcel communication. Other communal features, such as live events and an increased variety of player interaction, are to be released around Q3 this year.
Pavia’s road map
According to the road map Pavia published on its website, the company is now working on the integration of Pavia Compatible objects (PCA) and ensuring that the feature works in a multiplayer environment. Later, the company will implement PCAs onto land parcels and other features. Pavia will always work to improve the liquidity of PAVIA tokens within and outside the Cardano ecosystem to reward players.
To aid in community development, the team behind Pavia is establishing a set of community tools so players can easily create their own content and turn this user-generated content into PCAs for other players to trade for and enjoy. Multiple community tools and creations are displayed and advertised on the company’s official website, such as various Pavia map visualizations and price checkers.
Even as the crypto winter continues, NFT and Metaverse projects still see a large amount of investment. Analysts project that the real estate metaverse market will become greater than $5 billion over the next 3.5 years.
The main reason for this large amount of growth is the renewed interest in mixed reality and cryptocurrency. However, the objective value of the market can be difficult to assess as the true value of properties in the real estate metaverse market is unknown, making some investors hesitant to join in.
In order to address the above worries, Cardano has focused on creating an environment that is accessible with low fees and a low amount of pricing issues. Pavia itself is just one of the many real estate metaverse projects that are taking advantage of the features that Cardano offers to developers.