With Tamagotchi Returning, Could Metaverse Pets Actually Survive?

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Are Tokenized A.I. Pets Sustainable in the Metaverse?
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While personalizing digital pets is nothing new, dating back to the late 1990s and early 2000s (thanks to Tamagotchi), Web3-based companies are looking to capitalize on the pet ownership market by targeting animal lovers and bringing them into the virtual world .

Most of the millennials you ask will tell you that they are either familiar with Tamagotchi pets and/or have at least one grown pet. Arguably, this is the first form of (pet) ownership and responsibility that millennials have (voluntarily) grown up with.

Will Tamagotchi return?

As old as Tamatgotchi, it has certainly made a comeback in recent years, with its website attracting more than 125,000 visitors in December 2021 alone — a 750% increase from 2019 — claiming the power of Web3 and the metaverse. Revitalize and transform well-known intellectual property and brands.

Last summer, Tamagotchi released its limited-edition Star Wars R2-D2 model, allowing consumers to train R2-D2 to master various stills, while letting him play mini-games, as well as a host of licensed content from Star Wars, Toy Story, Pac-Man and Tiny Tan product line from BTS.

Binance

Yes[In]Crypto has reached out to Tamagotchi to find out if they are exploring the metaverse and are awaiting a response.

Moving to Web3 and the Metaverse, virtual pet ownership will only become more interactive and fun, especially if household names like Tamagotchi are involved

With the growing popularity of Web3, it’s no surprise that digital pets are finding new homes and owners in the metaverse.

The NFT market, valued at over $41 billion, has transcended traditional art and opened doors for pet owners from all industries around the world who seek new forms of interaction.

As technology continues to evolve towards Web3, here are some virtual world pet projects that animal lovers should keep an eye on.

digital pet company

Back in April, Digital Pets announced that it would launch an AI-powered 3D digital dog as a virtual world companion.

To commercialize its technology, the company raised pre-seed funding from Outlier Ventures, Hawk Digital, MaxStealth and angel investor Rafi Gidron, who founded Chromatis and eventually sold it to Lucent for $4.8 billion.

The startup is still in talks with other potential investors, VentureBeat reported.

According to the company, these AI-powered dogs will enable owners to interact with them in a lifelike manner through voice, visual and touch communication, enabling people to communicate and interact with them as they would in the real world.

Specifically, it will leverage extended reality (XR) and blockchain technology to create a “persistent two-way emotional relationship” with virtual presences in these virtual environments, apps and games.

Consumers will eventually be able to access the technology through the startup’s proprietary PetOS technology.

As for any previous Tamagotchi (yes, millennials, we’re talking to you directly), MetaGotchi is another project worthy of your attention. Of course, the project’s name combines the “metaverse” with the digital pet toy “Electronic Pet” introduced in the ’90s.

Launched on the Ethereum network, MetaGochi is known as one of the largest virtual pet metaverse platforms on the market, with nearly half a million daily active users since July 2021. Since July, the platform said it has raised more than $30 million in fees.

Launched in November 2021, MetaPets is the newest addition to the pet-a-verse and aims to bridge the gap between pet ownership, the metaverse and events.

One of the more interesting aspects about MetaPets after reading the company’s white paper in depth is the ability to not only design and own your own pets, but also participate in various events and activities including dog shows and horse racing – all while having the opportunity to generate revenue from the platform.

axis infinite

Taking the concept of CryptoKitties a step further, Axie Infinity allows players to build teams of Axies and battle through PVE and PvP content to become stronger and unlock rewards. Due to the competitive nature of the game, Axie Infinity requires the purchase of in-game assets for a better PvP combat experience.

Back in December of last year, Axie developers reported that they had added over 500,000 new Axie holders to nearly 3 million daily active users.

“These players are battling and breeding Axies at breakneck speed,” the company told PCMag, stressing that it just welcomed its 10 millionth Axie to its platform.

Launched by Dapper Labs in 2017, CryptoKitties has maintained its success across the industry as one of the first blockchain-based games to allow players to buy, collect, breed and sell virtual cats.

To this day, it remains one of the most lucrative projects in the field, attracting the attention of cat lovers around the world.

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