In the teleportable Metaverse, “network dynamics” is more worthy of attention than “parcel spacing”

We are likely to be able to achieve “teleportation” in the upcoming Metaverse. “Teleportation” will make visiting a place in the Metaverse similar to visiting a website. This means that the dynamics that determine the value of the network (such as advertising, links, and search) will be mapped to the Metaverse to some extent.

Plots and teleportation

With the development of Web3 and VR technologies, discussions about Metaverses have become more and more common. VR promises experience and Web3 promises decentralization. This emphasis on ownership naturally leads some people involved in Web3 to pay attention to the economy of the coming digital world. Some of the questions I have seen recently, such as “What can we do to realize the Metaverse economy?” and “What is valuable?”

Especially the speculation about the value of the Metaverse plot makes me very interesting. After all, real estate and its derivatives are a huge asset class in the “real” world. If someone thinks that the digital world will attract more events, then these events must be “located” somewhere. Take a look at Sandbox, where some digital plots are sold for millions of dollars, which proves that digital plots have gained attention.

Inferred from current trends:

  • With the advancement of VR, more and more activities are digitized;
  • As the development and adoption of blockchain advances, the concepts of value exchange and ownership will become easier to digitize.

However, these assumptions alone are not enough to predict the future of the land in the Metaverse. The dynamics that give value to the “real” world will be replicated in the future digital world. Let’s take a closer look at what these dynamics are.

There is a simple fact that cannot be disputed: that is, many people want to live on limited land. Many people want to live near Central Park, the headquarters of major companies , Madison Square Garden, the Metropolitan Museum and all the iconic Big Apple attractions imaginable. This explains the demand side of the equation, but what about the supply side?This is where the connection between the land in the real world and the “lots” in the Metaverse becomes blurred. The amount of land is limited within an hour’s drive or a 5-mile radius from downtown Manhattan. The closer the distance, the more valuable the land value. In our world, valuable land is limited, but in the future world, this must be the case?

A certain Metaverse experience creates many features that define the real-world space. Such a world can define a certain distance between any two points. As the distance increases, the movement between the two points will become more expensive (in terms of time, money or other aspects), and the movement between the two points requires Move along a path composed of other points.

It is hard to imagine that we will be given all these powers to shape a new world. The higher the degree of freedom, no matter where we want to go, we will also incur some costs. Chris Dixon of a16z uses the term “pseudo-materialization” to refer to a situation where old technology is updated and more powerful technology is replicated. Think about it, a site that initially looked like a horse-drawn carriage, or a magazine that looked like a magazine at first, was not at all like the interactive pages that were popular at the time. In fact, in this case, a more powerful technology replicates the limitations of the previous technology due to lack of imagination. From this definition, the Metaverse, such a world with transportation physics like our own, makes me feel mimicry.

The current view of the future lacks imagination, this view naturally points to follow-up issues. So, what is the imaginary future?

If there are two worlds like the Metaverse. In one of the worlds, after visiting one thing, only a few nearby things are easily accessible. In the other world, everything is “close” to other things. Which one would you choose? Obviously a world that can move instantaneously.

Imagine that in the near future, after the battle for the best online stores continues to escalate, all major companies are providing immersive digital experiences for their online stores (for simplicity, we call them “m- shop”). For example, in the Nike m store, you can browse their product catalog and even try on shoes. Maybe everyone has a personalized space in the store, or just a huge space. Nike is a popular company, and their mobile store attracts a large number of visitors. After shopping at Nike M store, customers can go anywhere in this Metaverse. For example, transfer from Nike m store to Adidas m store.

I fully agree that digital teleportation will prevail.

Of course, the Metaverse that can move instantaneously does not necessarily come directly from the Internet. We do not need all “locations” in the Metaverse to be “m-shops” to pass this parameter. This is just an example of how teleportation may become a common feature of the Metaverse. Thinking of the Internet has also led to another important point: we have become accustomed to frictionless movement between all sites on the Internet, such as our current 2D, centralized Metaverse. If we have chosen teleportation in Web2, and we are used to this way now, how can we be willing to give up this ability in the future? Having tasted the sweetness, no one is willing to give up.

So, suppose that functions like teleportation are common in the digital world:

  • Instant movement=>Each location is easily reached from other locations;
  • Proximity is no longer rare;
  • The supply of land parcels that can visit a given location is only limited by the number of digital lands in the Metaverse;
  • The value of each digital plot will be roughly the same as the value of any other plot.

This alone is enough to conclude that the dynamics of land supply and demand we observe in the material world will not replicate itself in the Metaverse. If we further assume that it will be cheap and easy to create a location in the Metaverse (just like creating a new website), then the supply of plots will be unrestricted and the value of the land will be close to zero. Considering the open source nature of Web3 so far, creating a new digital location seems to be a reasonable assumption. However, the value of the plot is close to zero is not the focus of my next discussion.

Network dynamics

Since we do not expect that the supply and demand dynamics of physical land will be digitally copied, what is the preservation of value in the Metaverse? I think the Internet here gives us another hint. Thirty years ago, information was very precious. Knowing what happened today will give you a huge advantage over others. By contrast, others can only find out in the newspaper tomorrow morning. Expensive encyclopedias are necessary tools to resolve disputes, and universities have a monopoly on the study of many subjects. In the Internet age, this dynamic has changed drastically.

Thanks to the Internet, we can get more information, and we can get this information immediately. The difficulty is where to get it and how to filter noise from various signals. Likewise, in the real world, we mainly interact with places near us. For example, when we want to go out to eat, we usually eat at a place within a 30-minute drive from us. Since the number of restaurants is limited, people are willing to spend money to live in places that are surrounded by ideal restaurants. We only spend very little time thinking about places that can take hours or even a few dollars to reach.However, in the Metaverse that enables instantaneous transfer, this dynamic will also change. Suddenly everywhere can be transferred instantly. Suddenly making a list of nearby restaurants becomes tricky. Just like on the Internet, the restricted things change from what you have access to to restrict your time and attention.

Web2’s response to this attention bottleneck has been drastic. Some of the most valuable companies on the Internet are those that control what information people have access to. Social media content filtering, digital advertising and search query results have become a super profitable battlefield. Although we all know the existence of Apple’s online store, and we all know how to find its location on the Internet, Apple still pays a lot of money to Google to let ads pop up to remind us of their existence. Companies are vying to become the focus of our attention.

For them, the best situation is that we click on the ad and are taken to their website. Similarly, you can imagine that in the Nike m store, there is a button that takes you to the Apple mobile store. One might guess that Apple paid a lot of money to Nike for such links. What is the equivalent of the search in the Metaverse? What will be the page rank of Metaverse?How do you know where your friend is? Will my Metaverse be the same as yours? If not, what is the difference?

My argument mainly boils down to restrictions. With the improvement of technological capabilities, something similar to the Metaverse appears, and transportation costs will become artificial limits. This is a restriction that is unlikely to be imposed. Therefore, the constraints on user interaction will shift to time and attention. Therefore, in the Metaverse, the system that affects our time and attention will be given great value.

By the way, an interesting counterargument is that although time and attention limit people’s instantaneous movement in the Metaverse, they will not be as valuable as in Web2. Web2 values ​​time and attention because it can be monetized (in the form of advertising and data). With tokenization and other unforeseen changes, value creation may shift from focused activities to other things (still not land). For example, your tokens can provide value to someone when you are not paying attention.

Of course, just because we can get rid of the transportation cost restriction does not mean that we will do so. In some special circumstances, we may choose to enforce transportation costs. People voluntarily choose to go to such a place, probably because some people choose to use a vinyl record player instead of Bluetooth MP3, or use a pen and paper instead of an iPad. In addition to the voluntarily introduced restrictions, there may be other restrictions that we did not expect, such as block space now seems to be a problem.

For a species that is comfortable in the 3D world we live in, enter a 3D world that does not obey the same laws of physics, where, in some cases, the laws of physics will change around you, is it surprise or joy , No one can tell. This is why it seems wise to make minimal assumptions about the outline of the Metaverse.

Posted by:CoinYuppie,Reprinted with attribution to:
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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