Compatibility of all projects in one metaverse: the mysteries of MetaFi
Let's understand first: the term itself consists of two parts: "meta" - metadata and "fi" - DeFi. The main goal is to create a new ecosystem of blockchain projects that is based on metadata.
*The word "meta" in the term MetaFi is used as metadata, not as an abbreviation for metaverse.
📍What is metadata Metadata is data about data (yeah, can be confusing, isn't it?). For example, in NFT it's name, description, properties, levels and characteristics. And a bitcoin transaction has a wallet address, value, transaction time. The idea of MetaFi is to link all blockchain projects into one ecosystem with a single metadata standard. It should be used in all blockchain technologies: cryptocurrencies, NFT, GameFi, DeFi, DAO. Thanks to metadata standards, assets will be easy to read and sort. They will be usable in any blockchain. For example, if the metadata in the blockchains were to be of the same standard, one NFT marketplace would be able to hold NFTs from all the blockchains. Do you believe in the interoperability of these technologies?