Comments on the Metaverse

Ever since I ventured into the realm of web3, the term “metaverse” has been a constant, heralded as a groundbreaking concept. However, it’s important to note that this idea isn’t new — it has been around since before the year 2000.

Observing the evolution of the metaverse concept over the years, I’ve noticed patterns that recur not just in web3 projects but also in casual conversations, even with those unfamiliar with blockchain technology. Here are some reflections:

Life in a 99% Virtual World

We often hear about “innovative” companies promoting a life almost entirely spent in virtual spaces. This includes working in these virtual worlds, earning directly in our blockchain wallets, exploring new places, meeting millions of people, and expressing ourselves through customized avatars. We also see the promise of owning unique spaces and accessories.

At first, this proposition is intriguing, particularly to those new to the digital realm. However, having spent a significant portion of my life in video games, I’ve realized that the allure of separating from reality is fleeting. It either becomes a cherished hobby or a consuming vice. For a metaverse project to succeed, I believe a tangible connection to real life is essential. The metaverse should complement, not replace, our physical existence.

Test These Concepts:

To understand the potential scope of what companies are proposing with the metaverse, consider these activities:

1. Building a home and customizing your avatar in “The Sims.”
2. Playing the free version of “World of Warcraft.”
3. Engaging in extended virtual reality sessions.
4. Interacting in VRChat.

These are not new or exclusive to web3 metaverse projects but offer a glimpse into the possibilities, especially when ownership through blockchain is introduced. (For younger audiences, just enjoy these as games!)

Some Blockchain Projects:

• The Sandbox (Ethereum Blockchain)
• Decentraland (Ethereum Blockchain)
• Star Atlas (Solana Blockchain)
• WanakaFarm (Bnb Blockchain)

Emerging Projects:

• Otherdeed for Otherside (Ethereum Blockchain)
• ALTS by Adidas (Ethereum Blockchain)

Does Selling Virtual Land Make Sense?

Selling land as a scarce resource creates immediate sales pressure, akin to many NFT projects. However, this approach isn’t sustainable. The metaverse isn’t about limited land; it’s about limitless possibilities. Integrating special benefits, acquisition filters, and hybrid real-world applications could be more effective. Think of real-world analogies — attending events or exploring new places involves expenses like transportation, food, and tickets, all contributing to experiences and memories.

The business model should focus on experiences, not land speculation or advertising. As technology evolves, today’s digital lands might become obsolete, replaced by newer, more advanced platforms.

Is the Avatar-Centric Approach Effective?

Avatars offer identity protection and personalization, but focusing too much on avatar customization can be distracting. It limits accessibility and often prioritizes trivial aesthetic elements. Essentially, it’s not much different from the gaming experiences of the past two decades.

Conclusion

This isn’t a critique of the metaverse but a reflection on its current state. The concept has always fascinated me, especially in the context of video games. However, finding the right balance for implementing this blockchain-enhanced idea is crucial. Key considerations should include:

• Easy access to diverse experiences.
• A blend of digital and physical applications.
• Personalized and user-friendly interfaces for managing metaverse assets.
• Interoperability with other technologies.

Interestingly, contrary to some futuristic portrayals of uniform, gray cities, real-world advancements are enabling us to create, modify, and personalize even the minutest aspects of our lives. Thus, it’s unlikely that any single company will become the sole provider or embodiment of the metaverse.

The metaverse is more likely to be a mosaic of various applications and experiences, accessible through our preferred platforms. It’s a collective, evolving creation, not a singular, static world.