Pets and The Metaverse (Infographic)

With all of this talk about the metaverse, let’s put first things first and properly define all of the technologies that go into it. The metaverse is the convergence of technologies and human interaction that includes VR, AR, avatars, video games, NFTs, and much more. And what’s a better friend of humanity than pets? That’s right, pets are becoming a growing trend within the metaverse.

Learn more about how you can interact with and collect pets in the metaverse in the infographic below:

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Infographic Transcript

Pets And The Metaverse

There’s a new buzzword in town: metaverse

What Is The Metaverse?

• Also called cyberspace
• Doesn’t refer to any specific type of technology, but to a broad shift in human interaction with technology
• Can include:
  • VR
  • AR
  • Video games
  • Smartphone games
  • Holograms
  • Motion-tracking tools
  • Avatars
  • NFTs (cryptographic tokens that serve as certificates of ownership of a digital item)

The metaverse is worth billions of dollars and expected to grow at a jaw-dropping rate

Metaverse Market

• $47.69 billion Market value in 2020
• 3% CAGR Expected to register
• 45% of global market revenue in 2020 attributed to North America
• Fairly consolidated market with few players accounting for majority of market revenue
• Key growth driver is rising focus on the converging digital and physical worlds through the Internet
• Hardware segment was the largest revenue share in the 2020 global metaverse market
• Challenges:
  • Concerns about data privacy and security in metaverse environments
  • User identity issues
  • Convincing users to utilize payment systems

Who Will Lead the Metaverse Race?

Metaverse Platforms

• Ready Player Me
  • Allows players to build custom avatar from pictures or from scratch and use them across 900+ apps and games
  • Strives to create a more connected metaverse
• Decentraland
  • Allows players to:
    • Explore settings owned by users
    • Create scenes, artworks, and challenges
    • Trade digital assets, such as LAND, estates, avatar wearables, and names
  • Horizon Worlds
    • Virtual reality metaverse open to all consumers over 18 in the US and Canada
    • Owned by Meta Platforms (formerly known as Facebook)
    • Allows users to spend time with up to 20 people at a time in virtual space
    • Players can create a world and items from scratch

Pets are a growing niche in the metaverse

Types Of Pets In The Metaverse

• Metapet
  • An avatar representation of a real pet
  • Created using holographic images and other 3D imaging technologies
  • Chipped pets can be monitored remotely through avatars
• Metaverse Pet
  • A fictional animal avatar
  • Allows users to experience pet ownership without physically owning a pet

Metaverse platforms for pets offer a range of capabilities and activities that may not be an option in reality

Pet Metaverse Platforms

• MetaPets
  • Users can:
    • Design and own digital pets
    • Participate in a dog show
    • Have their horse run in a race
    • Generate revenue from their pets
    • Prevent grief caused by death of pet
    • Enjoy constant companionship of pets
    • Dress, train, and breed pets
    • Own a digital pet without worrying about allergies
  • MetaGochi
    • Name is a combination of Metaverse and Tamagotchi (a digital pet toy launched in the 90s)
    • Launched on the Ethereum network
    • Branded as the biggest virtual pet Metaverse platform
    • Users will be able to:
      • Train their Metagochi to win “Gochi Games”
      • Earn NFT eggs and items to be used in the game
      • Breed more Metagochis
    • Axie Infinity
      • NFT pet game that involves breeding virtual pets to advance to the next level
      • Earns more protocol revenue than Ethereum and Bitcoin
      • Collected over $30 million in fees in July 2021
      • Nearly half a million daily active users in July 2021, with 60% from the Philippines
    • CryptoKitties
      • Over 126k holders and over 2 million CryptoKitties
      • Buy, collect, and breed cats
      • Solve puzzles with other players
      • Create collections and earn rewards
      • Chase limited edition Fancy cats
      • Unlock rare cat traits
      • Play games in the KittyVerse

Meta pets are an opportunity for pet lovers to enjoy more time with pets and even monetize their hobby.

You can even think about pet health in the metaverse with things like a metaverse dog park (there’s no sign yet that you can monitor and project your pet’s metaverse growth with something like a metaverse puppy weight calculator and we don’t yet have answers to questions like how heavy should my dog be?, what foods can my dog eat and not eat?, or how to choose the best escape proof dog harness in the metaverse but maybe one day!). (read our review of escape proof dog harness as well)

Build your meta future — with pets!

Sources:

• https://www.wired.com/story/what-is-the-metaverse/
• https://decentraland.org/
• https://www.theverge.com/2021/12/9/22825139/meta-horizon-worlds-access-open-metaverse
• https://www.bitcoininsider.org/article/141242/metapets-own-fur-ever-pet-metaverse
• https://animaltract.com/metaverse-and-pet-care-in-the-future-all-you-need-to-know/
• https://metagochi.com/
• https://www.cryptopolitan.com/metaverse-projects-you-should-watch-out/
• https://www.coindesk.com/markets/2021/07/17/how-axie-infinity-creates-work-in-the-metaverse/
• https://www.emergenresearch.com/industry-report/metaverse-market
• https://www.smithsonianmag.com/innovation/keeping-tamagotchi-alive-180979264/
• https://www.cryptokitties.co/

Pet News Daily Staff
Pet News Daily writers are experts in pet care, health and behavior. We are members of Society for Professional Journalists and practice ethical journalism.