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Happy Saturday! A few notes from home before we go to work. The new TechCrunch crypto-focused podcast launched this week, and it excites me. And the TechCrunch+ team is Twitter space hosting Tuesday, April 26 with Silicon Valley attorney and TechCrunch + columnist Sophie Alcorn, who will discuss immigration issues and answer relevant questions for startup founders and employees.
I think that’s it. Now to work!
Ever since Facebook decided to chart a new future for the metaverse, and even changed its name to celebrate the change, the term has been all over the place. Countless startups and public companies are chanting the term in hopes of attracting a wave.
I don’t really have a problem with companies adapting their marketing to the present moment. What I struggle with is exactly what metaverses are he is. For example, in January, this post reported the following:
What I enjoyed the most this week was Visit to Decentraland. In short, I was editing and trying to distract myself from annoying the editorial team while they were working, so I turned on the social crypto environment – in other words the metaverse – and went for a walk. With a mohawk and some cool pants, I was able to get lost and visit the NFT gallery and miss out on the arena.
Is the metaverse a social crypto environment, combining human interaction and decentralized ledgers? This may be part of it, but it doesn’t seem like a comprehensive enough definition.
The nuance of defining the term emerged this week in an article Jacquelyn Melinek wrote for TechCrunch+ about how visual artists and musicians can use crypto products to connect with fans and make money:
The Metaverse version primarily consists of virtual or augmented reality that allows friends to interact with each other, while the Web 3 version of Metaverse focuses more on how users will experience the Internet in a digital world.
What’s nice about this Melinek Reef is that they are right. The be Several definitions of what the metaverse is. This is the fine gray area that has allowed anyone working with digital communities, or real digital assets in general, to claim the mark. The result is that everything is a metaverse, which amounts to saying nothing in particular.
As Melinek notes, there are two main axes to building the metaverse. Meta’s approach seems to start from the point of view of personal representation in a static environment similar to that of a video game. This means that the “metaverse” is similar to an MMORPG, but without a genre-specific research objective; It is more open, and therefore more open to continuous thematic expansion. A more cryptographic approach, or web3, is to consider digital assets that can be considered an extension of themselves as the metaverse, or at least a part of it. “PFP NFT” represents, for example, the way you want it to appear in a digital environment. Like this.
It is possible to imagine a hybridization of the two definitions. A place where we can have some kind of static avatar and where digital assets are stored on some kind of decentralized ledger.
The problem with this vision is that it is not possible to build significantly at the moment. why? Since there is no way to build an MMORPG on top of the blockchain, companies able to build such a platform do not want to allow decentralized asset creation and management, as this would limit their ability to extract value from their game or digital life environment.
Yes, it’s a tension between decentralized and centralized systems, but in this case it’s worth noting that it seems to keep what might be out of reach. it’s not Moreover It’s hard to find a way forward. for example:
- DAO is created to raise several billion dollars.
- DAO funds the creation and maintenance of a static digital environment, possibly with its own code.
- Software – The fusion of Minecraft, Slack, Unreal Engine and no Elden Ring – Open for people to modify, create worlds etc, and possibly allow companies to build more virtual offices.
- From there, everyone can participate and do whatever they want.
Is the metaverse convincing? I think at this point if that not Then we have to completely rewrite what we mean when we say the word. Because that’s as close as possible to putting things together without actually dropping all existing definitions and starting from scratch.
Good luck Facebook!