How does iPolloverse create a native public chain for the metaverse?

Author: NFT ERA

If we consider 2021 as the inaugural year of the metaverse, nearly two years of development later, although the industry still cannot provide a unified definition of the metaverse, it is evident from the actual development situation that the entrepreneurs involved do not want to waste too much time and energy discussing concepts. After all, facing this unprecedented new opportunity, "crossing the river by feeling the stones" is the right attitude. Only by entering the river can one know the depth of the water and the terrain of the riverbed, thus proposing the best crossing plan for future generations—should we build a bridge or a tunnel? Or perhaps set up a floating bridge?

Thus, we see a wave of new projects emerging, daring to innovate and break through, from the most basic network layer and data layer to the top-level contract layer and application layer. Based on their understanding of the metaverse or insights into their respective fields, they continuously propose new solutions for the exploration and development of the metaverse. For example, the iPolloverse public chain.

Where does the market's expectation for the iPolloverse public chain come from?

To be pragmatic, looking at the current level of competition in the public chain race, Ethereum has already become an insurmountable peak. Following Ethereum, there are strong competitors like Polkadot, BSC, and Avalanche. Why can we still have expectations for iPolloverse?

First, from the perspective of the development stage and potential of the metaverse, although many entrepreneurs have already entered the field, the metaverse is still in its very early stages, much like the internet in the 1990s or cryptocurrencies around 2011. This means that iPolloverse is still facing a blue ocean market full of opportunities. Additionally, a report released by PwC earlier this year predicts that the metaverse market size will reach $1.5 trillion by 2030. Citibank released a report in April this year titled "Metaverse and Money: Decoding the Future," predicting that the total market value of the metaverse economy could grow to between $8 trillion and $13 trillion by 2030, with the number of metaverse users potentially reaching 5 billion.

Even if we take a midpoint from the predicted values in these two reports—$5 trillion—there is still at least a tenfold growth potential in the next eight years. To make a more vivid comparison, the current total market value of cryptocurrencies is about $1.03 trillion, and this value first reached $1.5 trillion (compared to PwC's conservative estimate) in February 2021, twelve years after Bitcoin was introduced (as of September 14, all data sourced from coingecko.com).

Using PwC's estimated data as a baseline, we can further speculate on the potential of public chains in the future metaverse by looking at the market capitalization shares of Bitcoin (37.36%) and Ethereum (18.56%) in the cryptocurrency market. Adding their market shares together reveals that the top two public chains in the cryptocurrency market account for over 55% of the entire market. Based on the inheritability of the underlying technology between the metaverse and cryptocurrencies, we can boldly speculate that public chains will continue to exist as the most important infrastructure in the metaverse and play an indispensable role.

iPolloverse not only chose the blue ocean market of the metaverse but also precisely entered the widest track within this blue ocean market.

Secondly, iPolloverse has a natural advantage in the competition of metaverse public chains, which is the strong technical, capital, and compliance operational capabilities of Nano Labs, upon which iPolloverse relies. This is an important resource that most entrepreneurs in the same field currently lack. Moreover, based on the achievements already made in the industry, social interaction and gaming are undoubtedly two important application scenarios in the metaverse, and both scenarios require more efficient 3D rendering capabilities.

For example, in a typical interactive game with 10,000 people online at the same time during the web2 era, how can we ensure that every user enjoys a good experience in the metaverse? There are two solutions—cloud and client. The drawbacks of these two solutions are very obvious. The former incurs visibly high costs—backend server costs, virtual machine costs, and network fees are all not cheap; the latter's pain is something many seasoned gamers can relate to, as many game installation packages keep getting larger. To provide users with a better experience, efficiency must be sacrificed, which requires users to use higher-end devices to support the constantly updating game packages, creating a snowball effect.

So, is there a solution that can find a balance in this seemingly impossible triangle of good experience, high efficiency, and low cost?

It may have been difficult in the past, but now iPolloverse has brought its own solution. The years of accumulation by Nano Labs in blockchain technology and visual computing provide iPolloverse with a new perspective.

iPolloverse adopts Web 3D as its main technical line, using a distributed approach to push rendering tasks to the browser side. Through the collaboration of the data layer, network layer, and computing power layer, 30% to 40% of real-time rendering tasks are completed in the cloud and edge. In terms of implementation, ordinary users can connect their own GPUs or graphics card devices to iPolloverse, becoming a node in the network and earning token rewards by participating in rendering tasks. This not only greatly saves computing resources but also significantly reduces costs while providing users with a top-notch experience.

Finally, we must credit iPolloverse's leading development philosophy and innovative capabilities. To give another example, the phenomenon projects that became popular in 2021 and 2022—Axie and Stepn—achieved tremendous success both in terms of traffic and revenue. However, if we look back to their roots, both are still based on centralized servers, which is quite different from the core spirit of blockchain.

In contrast, iPolloverse is fundamentally different from these projects; from computing power organization to ecological support, iPolloverse adopts the native logic of blockchain, making it a public chain designed for rendering the native metaverse. The importance of this in the blockchain world is self-evident. Looking back at the rise and explosion of DeFi and NFTs, we can find a spirit of daring to break through and lead the way. The power of this spirit is crucial in the development of the metaverse, and its importance may even surpass any technological advancements.

Additionally, from a business model perspective, the new value attribution concepts conveyed by blockchain technology, the continuous improvement of AR/VR hardware devices, and the convenience brought by 5G networks, combined with the recent backdrop of Ethereum's merger event, where a large number of mining machines need to find new computing power markets, make the emergence of iPolloverse timely and strategically significant.

Although there is still no consensus standard formed within the industry regarding the metaverse, there is a basic agreement on one viewpoint: the metaverse is not a simple reflection of the physical world but a native ecosystem that is nurtured in the virtual world. This requires more projects like iPolloverse, which have blockchain genes, to emerge and provide consistent and authentic infrastructure for the new generation of metaverse users. This will undoubtedly be an important trend in the development of the metaverse and is precisely the core reason I am optimistic about iPolloverse.