For NoVa encrypted, the future of blockchain and metaverse-based gaming doesn’t have to come from obvious tech hubs like San Francisco or Austin. There is a sculpture space right here at the DMV.
Startup based in Manassas, Va. recently selected to join Excellence from the Virginia Serious Games Institutea business incubator of collaboration between George Mason University and Prince William County. The company launched in January with a first pre-seed round of $ 100,000, and the founder and CEO Tim Cotten there are big plans for the rest of the year.
Scrypted, which currently has five employees, is a “metaverse-centric” company that seeks to solve metaverse problems that have yet to be resolved. The company helps creators manage digital copies of their artwork and potentially non-fungible tokens, help those already in the gaming metaverse, and create blockchain-based video games.
But, Cotten said TechnicallyThere was something he wanted everyone to know about the metaverse.
“We’re building digital assets for the metaverse, and I think the most important part of that is that the metaverse isn’t there yet,” said Cotten, also CEO of Scrypted. “And anyone who tells you that exists today is a liar and a very good businessman.”
The metaverse, Cotten thinks, is really the idea of owning your own digital identity. Instead of social media companies and others owning your digital self, he envisions an area where digital presence can be shared across platforms and users can own their own virtual assets and achievements.
“Anyone who tells you it exists now is a liar and a very good businessman.”
Cotten is particularly interested in digital assets and blockchain -based games, she said, for the decentralization they can bring. He hopes to create a space where, instead of players being the product, they can buy some parts of the game, like artwork.
“What’s exciting about blockchain and games is how they make players not only a product, but become real stakeholders and have a stake,” Cotten said.
As she continues at Excellerator, Cotten has high hopes for the company’s growth in 2022. She plans to hire more full-time staff in the third and fourth quarters and add to Scrypted’s waiting list (said he who currently has 10,000 people). He also plans to open an official seed round at a cost of $ 1.5-3 million. And he expects big companies to pump money into space, which he hopes will expand the Northern Virginia gaming scene.
Not just him. Prince William County, Va., Also seeks to build support for the metaverse and its region’s role, according to Jeff GreenBusiness Development Manager at Prince William’s Department of Economic Development.
“Prince William County worked with George Mason University to form the Virginia Serious Gaming Institute Excellerator nearly a decade ago,” Green said. “At the Department of Economic Development, we believe that supporting current and future metaverse technologies will help all of our businesses, whether in cybersecurity, life sciences or logistics.
As Metaverse and Web3 grow, Cotten has some predictions for space. He expects a big push over the next few years to improve the technology, including making the headsets more agile and have better batteries.
“We can see that things are starting to normalize, like some ideas like,‘ OK, the metaverse has to use this kind of communication technology, it has to deal with this kind of digital identity, and it has to be client-agnostic, ’” he declared. “So eventually we will have a tool chain that will make creating metaverses as easy as creating games today.”