The Chia Network cryptocurrency ecosystem has joined the meta-village trend by announcing a special framework.
Blockchain green bitcoin project Chia Network will develop a framework aimed at Web3 developers of meta-villages.
The ecosystem announced this in a press release. A novelty called CODE will allow video game developers to store data on the blockchain through a special API-gateway.
It is said to be completed by 2023. It’s not entirely clear what exactly the emphasis will be in the form of meta-universes.
Based on the company’s press release, Chia wants to enable gaming companies to develop blockchain-linked tokenomics.
When CODE will be available for use and whether it will be adapted to game engines like Unreal Engine or Unity is also unclear.
We note that Chia is not the only ecosystem in the crypto market that is trying to attract attention by promoting blockchain in conjunction with the meta universe.
For example, the cryptocurrency project Avalanche has signed a partnership agreement with Chinese cloud provider Alibaba Cloud.
As part of the partnership, blockchain will store data for “metaeconomies,” and Alibaba Cloud storage will allow not only media storage, but also the ability to connect to the blockchain through a user interface.
The announcement of Chia’s announcement could be part of a renewed interest from investors in the blockchain project in anticipation of the release of the stock exchange.
Chia’s announcement about the meta-universe could be part of a strategy to drum up investor interest in the blockchain project in anticipation of a stock exchange listing.
Recall that in April, Chia Network Inc. filed for an initial public offering (IPO) with the Securities and Exchange Commission (SEC) of the United States.
The volume of the issue and the quotation range of the shares have yet to be determined after the application is approved by the stock exchange regulator, the company said.
How long it will take the SEC to review the application is not disclosed, but on average, the process takes three to five months.
Chia Network Inc has been known about its plans for an IPO since 2021. At that time the project raised $61 million in financing, raising the valuation to $500 million.