MetaPath, the new “metaverse aggregator”, incorporates NFT Marketplaces, GameFi, into its already extensive network of blockchain ecosystems
It’s 2028 and you’re ready to pass into the metaverse. You log on, briefly check on your wallets, maybe mosey by your personal NFT gallery, and then play your favorite games which are now all play-to-earn. You don’t worry about what blockchain or platform your assets are on – because MetaPath seamlessly opens the door to all of them for you. That’s the future the MetaPath intends to build.
At the moment though, MetaPath is, very simply, a routing protocol that facilitates cross-chain and cross-platform transactions and trades. Similar to a DEX aggregator, it searches both decentralized exchanges and centralized exchanges for the best, most efficient cross-chain path your transaction can take.
However, MetaPath distinguishes itself in at least two ways: it aggregates more decentralized and centralized exchanges than other aggregators, and focuses on including NFT marketplaces and GameFi platforms. It seeks to “unite the metaverse” defined broadly as all Web3 and blockchain environments, behind a single screen where users can conduct any cross-chain trades and transactions that they want.
Although it is subject to the platform fees and gas fees of the chains it aggregates, MetaPath will save users time, operating much like Kayak, Orbitz, or Google Flights do for booking hotels and trips. It features an intuitive interface, familiar to those in crypto, making trading and routing between chains convenient both to new users and experienced ones alike. Fees are plainly disclosed so that users can find the most efficient route for their transaction and avoid wasting money on routes that would have higher fees.
Due to its extensive network, MetaPath makes it possible to directly swap more cryptocurrencies than on any other platforms. It’s true advantage, though, is its focus on integrating NFT and GameFi ecosystems, something other aggregators have struggled to do. This extended reach and added focus leads MetaPath, with justification, to brand itself as the “infrastructure of the metaverse.”
Because it seeks to directly connect NFTs and GameFi to the rest of the cryptocurrency ecosystems, MetaPath has a slightly different aim that makes a universe of a difference. It doesn’t want to just give users access to more corners of the digital metaverse: it wants to create an interoperable system for a multi-chain future that will be easy for experts and new users to navigate.
“We don’t want to just be another bridge or access point,” said a MetaPath spokesperson. “We want to be the access point – the one place you need to go to do any transaction or trade that you want.”
“Crypto is complicated,” the spokesperson lamented, “and as NFTs rise in popularity, and as they get integrated into GameFi ecosystems, it will become more and more important to be able to trade between those ecosystems easily. That is where MetaPath shines. We’re proud to be leading the way to create an integrated, multi-chain future for crypto and the metaverse that it is building.”
The Rise of NFTs and GameFi
NFTs have experienced incredible growth in the last year. DappRadar data estimates the market for NFTs hit $21 billion by the end of 2022 while others estimate that number is as high as $41 billion. For perspective, the market for traditional art, in the same year, was $50 billion. The market for NFTs in 2020, just a year before, was only $250 million.
GameFi, a confluence of gaming, DeFi, and NFTs, is experiencing similar growth. In fact, in the second half of 2021, GameFi overtook DeFi in its rate of growth, and the number of transactions rose 2,934% by the end of the year. MetaPath will continue to add NFT and GameFi integration for the rest of 2022.