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Metaverse: Does the vision of virtual reality need blockchain?

 


Is it the inevitable future or a fantasy of some weirdos? Opinions about a virtual reality, a metaverse, are divided. At least since the Facebook group changed its name to Meta and founder and CEO Mark Zuckerberg steered the tech company's corporate strategy towards Metaverse, the term should be known to everyone. As divided as opinions about a possible future of the Metaverse are, the meta community is also divided about the basics of a possible virtual world. Is this decentralized or is it managed centrally by a group? And what is the Metaverse anyway?


What is the metaverse?

Virtual worlds have been around for decades. Whether "Sims", "Grand Theft Auto" or "The Witcher", virtual worlds have been known, especially in the gaming industry, for years. Zuckerberg's vision of a metaverse follows on from this in a few points, but develops the gaming worlds many times over. The Metaverse should also find more use in everyday life away from gaming.

The goal should be to move people away from the console and bring them into the metaverse themselves using virtual reality glasses. In the Metaverse everything that the physical world has to offer is supposed to be possible. In addition to meeting friends, the “metaversians” should also be able to do sports, work and go shopping. Land, valuables and buildings can then also be purchased.

What is already reality?

While the Metaverse may sound like science fiction to many, many of the possibilities mentioned are already a reality. Platforms such as Decentralland or Sandbox already represent metaverses. It is already possible to buy clothing for the digital avatar via NFT. Plots of land are also already being sold in the digital world. Last year, a price of 450,000 dollars was paid for a property next to the US rapper Snoop Dogg. The trend towards "mobile working", the home office, is also strengthening the trend towards working in the Metaverse.


However, there are fundamental differences between the metaverse of the meta group and the metaverses that are programmed on the basis of the blockchain. Thus, Zuckerberg's Meta hopes to become the central middleman of the Metaverse. Meta wants to program, provide and operate the Metaverse. Similar to what is currently the case with Instagram and Facebook. The system would thus be centralized to the meta corporation, which should give Zuckerberg's companies enormous power. The blockchain would not necessarily be the necessary basic technology.

Crypto enthusiasts define the metaverse differently. For them, the decentralization of the system plays a major role. In particular, property rights are to be tokenized and represented without a middleman. Metaverses like Sanboxor Decentralland already represent these virtual worlds. Of course, blockchain technology is essential as the basis for the metaverse. If one assumes that the Metaverse could become a kind of digital state, in the eyes of many the blockchain is even the only key to democracy. Whether this would be the case if a corporation, in the case of Zuckerberg, possibly even just one person, had absolute power is extremely questionable.


Metaverse blockchain future or digital castle in the air?

Whether the Metaverse will be created according to Zuckerberg's ideas remains completely open at the moment. One thing is certain, Meta takes the developments very seriously. Last quarter, the social media group pumped almost 10 billion dollars into the development of the virtual world. It is currently still unknown whether Meta will actually completely do without the blockchain during development. Projects like Facebook's Libra Coin have shown that Zuckerberg doesn't seem averse to cryptocurrencies and the blockchain. However, the blockchain would reduce users' dependence on Meta.

It is likely that at least three types of metaverse will form in the next few years. Absolutely decentralized, like Sandbox or Decentralland, centrally controlled like Zuckerberg's meta, and possibly also a mixture of centralized and decentralized. Comparable to the consortium blockchain.


How do I benefit from the Metaverse?

If you want to benefit from the Metaverse vision for the future, you can stock up on the respective coins. You can buy Decentralland and Sandbox at Bitfinex , for example . If you're more of a believer in Zuckerberg's vision, you can buy meta stocks. You can also find these at eToro . The semiconductor manufacturer Nvidia is already working on its idea of ​​a Metaverse.

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