Navigating the Metaverse: How The Confluence is Shaping the Future of Virtual Assets

In recent years, the virtual asset industry has undergone significant transformations. Major international markets have progressively established preliminary regulatory frameworks for virtual assets, continuously refining these regulations based on industry practices. In this article, we will explore how the regulatory landscape for virtual assets has evolved over the years, highlighting significant milestones that have shaped the journey of virtual currencies. We will delve into their exciting transition into the metaverse, where digital assets are redefining experiences. Finally, we will spotlight The Confluence, a pioneering force driving innovation and setting new standards in the industry.


Regulatory Development and Key Milestones

The approval of Bitcoin spot ETFs in the United States marks a pivotal step in the development of the Web3.0 ecosystem, initiating a new era for crypto assets. The concept of Bitcoin spot ETFs was first proposed in 2013. However, due to concerns about Bitcoin's price volatility, investor protection, and potential market manipulation, the U.S. Securities and Exchange Commission (SEC) resisted launching Bitcoin spot ETFs for many years. After a decade of deliberations, the Bitcoin spot ETF was finally approved on January 11, 2024.


On December 18, 2017, the Chicago Mercantile Exchange (CME) introduced Bitcoin futures contracts, marking a significant step in the cryptocurrency market. In October 2021, the US SEC made headlines by approving an ETF based on Bitcoin futures contracts, paving the way for the first batch of Bitcoin futures ETFs. The momentum continued, and on January 11, 2024, the SEC approved the issuance of 11 Bitcoin spot ETFs, allowing investors to gain exposure to Bitcoin through various means such as mutual funds, US stock exchanges, peer-to-peer payment apps, cryptocurrency platforms, and brokerage firms. The trading debut of these ETFs was impressive, with a total volume surpassing $4.6 billion, quickly making them the second-largest single commodity ETF in the US market. Further expanding the reach of cryptocurrency ETFs, the Hong Kong Securities and Futures Commission approved both Bitcoin and Ethereum spot ETFs on April 15, 2024, marking another significant milestone in the global adoption of digital assets.


US Bitcoin spot ETFs continue to see significant net inflows. According to CoinGecko and Seeking Alpha, daily trading volumes reached $10 billion in early March, accounting for more than 5% of overall Bitcoin trading volume and peaking at 26%. As of April 12, 2024, the total net asset value of US Bitcoin spot ETFs was $56.3 billion, representing about 4% of Bitcoin's total market value.


Ethereum Spot ETFs

Following the success of Bitcoin spot ETFs, the approval process for the Ethereum (ETH) US spot ETF is well underway and has garnered widespread attention. As the native cryptocurrency of Ethereum, ETH holds the position of the second-largest cryptocurrency by market value, second only to Bitcoin, and is unique in that it also trades futures contracts on the CME. The successful launch of Bitcoin spot ETFs has naturally shifted investor focus to the ETH spot ETF. After the approval of the ETH US futures ETF in 2023, the spot ETF is now in the application process, with approval already granted in Hong Kong, China. Previously, countries like Canada, Switzerland, and other European nations had approved ETH spot ETFs, prompting the United States to follow suit. Currently, the SEC is reviewing eight ETH spot ETF applications for 2024.


Web3.0 Ecosystem Development

The Web3.0 ecosystem is continually evolving in exciting ways. AI integration and Layer 2 solutions have become hot topics. Following the success of "The Merge" in 2022, Ethereum started preparing for "The Surge," aiming to handle 100,000 transactions per second while enhancing blockchain scalability. This March, Ethereum took a significant step by activating the Dencun hard fork, which introduced proto-danksharding (EIP-4844 or "blobs"). This innovation reduced transaction fees for rollups by more than 99%.


Ethereum is transforming into an ecosystem where Layer 1 serves as the foundation, and Layer 2 is the bustling hub of activity. Among Ethereum's Layer 2 solutions, Arbitrum leads with a 50.8% market share, followed by Optimism at 18.6%, according to Footprint.


Meanwhile, the Bitcoin ecosystem experienced a major shift with the introduction of Ordinals in 2023. This development mirrored Ethereum's success with digital assets and spurred discussions on Layer 2 solutions for Bitcoin. Notable examples include the Lightning Network, Stacks, and Rootstock (RSK), which are set to play crucial roles in Bitcoin's future.


Non-Financial Applications in Web3.0

Beyond financial applications (DeFi), Web3.0 is making significant strides in other areas like GameFi and SocialFi. These fields are evolving by integrating DeFi and NFT concepts. GameFi merges gaming with decentralized finance, allowing players to earn cryptocurrencies and NFTs through games (such as Play-to-Earn) using blockchain technology. This also enables the ownership and trading of in-game assets.


NFTs have tremendous potential in metaverse projects, where they can be used to buy game assets, avatars, and more. On the other hand, SocialFi combines social media with DeFi, letting users create, manage, and own content on decentralized platforms. Users can monetize their content and confirm digital ownership with NFTs.


Both GameFi and SocialFi are driving innovation in cryptocurrency assets, offering users new ways to interact, create, and earn in the digital world.


The Confluence: A Leading Company in the Metaverse Industry

The Confluence has achieved remarkable success in both SocialFi and GameFi, positioning itself at the forefront of the metaverse industry. By leveraging cutting-edge technology, The Confluence creates immersive and innovative experiences in blockchain, Web3, games, and NFTs. Their impressive portfolio includes games such as The Confluence CLU (Community-Led Universe), Dragon World, Fray X, Simsuite VR, Dragon World Smash It Mobile, and Swarm. They have acquired over 40 NFT collections and have 20 IPs detailed on their website, which you can explore at The Confluence.


The Confluence has distinguished itself as the first metaverse to offer cross-device, cross-platform, multi-project, multi-player, and multi-game mode experiences. Their unique features include a native instant custom avatar creation system, a cross-device currency system exchangeable on-chain and in-game, and a universal cross-device scoreboard system. The social community base has seen exponential growth, expanding from 200 to over 500,000 community members in just 180 days. Additionally, they have partnered with major traditional brands in the NFT space, with secondary sales exceeding 32,000 ETH and continuing to rise.


The company is entirely self-funded and boasts multiple online revenue streams, setting a new standard for NFTs that move beyond market hype. The Confluence is now recognized as a real-world operating enterprise, linking virtual assets to physical value targets. As Nathaniel Vegh, one of the founders, aptly put it, "Now is the time for the metaverse industry to transition to a sustainable business model." The Confluence stands as a beacon for struggling projects, helping them revive and realize their promised roadmaps.


The Confluence's comprehensive product adaptation spans PC, mobile, and VR platforms. They offer PC games, Webgl games, Quest 2 and 3 VR games, mobile games on Android, Amazon, and iOS tablets, mobile games for Android and iOS phones, websites, and mobile apps for iOS and Android. All these platforms are interconnected under a single login, with currency interchangeability across all devices.


The Confluence universe includes:

  • A native custom avatar creation system
  • A native ENVY build system
  • Over 40 traditional NFT collections with game-ready, playable character models, 8 of which rank in the top 150 OpenSea game projects of all time
  • A cross-platform universal scoreboard with in-game and on-chain currency systems for PC, VR, and mobile
  • A comprehensive in-game item store featuring both native and third-party IP (game items, skins, weapons, merchandise)
  • Over 200 playable games, game modes, and levels, all created and owned in-house (FRAYx, SimSuiteVR, Eternal Gardens, Dragon World, Smash It, StarPilot and many more game modes including Adventures, Build Master, Art Galleries, etc.)
  • A fully customizable weapon system
  • Over 40 brands and 100+ trademarks
  • 500,000+ social media followers on X and Discord


As the metaverse and virtual currencies continue to prosper, investment in this market is surging. According to Ark Investment, virtual assets exhibit a low correlation with other major asset classes, offering unique risk-return characteristics and valuable asset allocation potential. The approval of ETFs has further accelerated industry development. The Confluence provides value added attribution through its many Web3 product lines, solidifying its position as the industry leader with considerable growth prospects.


Advantages of The Confluence

The Confluence stands out with several unique advantages:

  • Streamlined Web3 Integration: Connect MetaMask wallet just once a month, eliminating frequent wallet connections and QR code scans, and using Layer 2 solutions to reduce gas fees.
  • Cross-Platform Experience: Seamlessly synchronize user data across PC, mobile, and VR platforms to ensure a consistent and uninterrupted gaming experience.
  • Simplified NFT Integration: Seamlessly connect NFTs with in-game assets, streamlining the process for both users and developers.
  • Content Creation Platform: Support community-led content creation with tools for creating in-game assets, environments, and avatars.


These features help The Confluence maintain its leading position in the metaverse industry by providing an integrated, user-friendly, and highly customizable platform. As the metaverse and virtual currencies continue to evolve, The Confluence and its competitors will drive innovation and growth in this dynamic space. Each platform's unique features and advantages contribute to the overall development and expansion of the metaverse, offering users diverse and engaging virtual experiences.