Meta’s biggest opponent: it is the forerunner of the Metaverse (1)

The Metaverse is the internet.

Shenyi Bureau is a compiling team under 36氪, focusing on technology, business, workplace, life and other fields, focusing on introducing foreign new technologies, new ideas, and new trends.

Editor’s note: To say what was the hottest word in the technology circle last year, many people may think of “Metaverse”.Of course, the fire is thanks to Facebook (Meta). However, the term was not invented by Meta, and Meta was not an early entrant. One of the earliest entrants came from Argentina. Under the Metaverse Troubled by Meta, the number of users of this virtual world has increased by 3300% in the past year, and the market value once reached a peak of 12 billion US dollars. It could prove to be the most potent challenger to Meta’s long-term ambitions. This article will explore Decentraland, the forerunner of the Metaverse. The article comes from the compilation, the length is related, we publish it in five parts, this is the first part.

Actionable Recommendations

If you only have a few minutes to spare, here’s what investors, operators, and founders should know about Decentraland.

  • There is only one Metaverse . While the meaning of hot words often extends to different configurations, there is a clear definition. The Metaverse is the Internet, just upgraded to suit the space experience.
  • The world of Decentraland is expanding rapidly . The number of Decentraland users has grown by 3300% in the past year, and the price of the token has risen even more. For that, they owe, at least in part, to Mark Zuckerberg.
  • Virtual property can also earn real money . Projects like Decentral Games prove that it is possible to make money in the “Metaverse”. The startup operates a popular casino in Decentraland. This attracted developers who took it seriously and poured millions into developing it.
  • Digital cities behave differently than physical cities . Although we are used to the slow change of cities, building brick by brick, building after building, virtual metropolis can play by different rules. “Dynamic land” that changes with individual activity is just one example.
  • We are just getting started . While projects like Decentraland have commanded high valuations, it feels like we’re still in the early stages of a long-term shift toward more expressive digital experiences. It takes time to create a world with lasting appeal.

introduction

In 1905, the railroad connecting Salt Lake City and Los Angeles was completed. The railway will pass through a sparsely populated town. Driven by the status of the halfway station, the town acquired 110 acres of land and officially established itself as a city. This place is called Las Vegas .

Over the next few decades, Las Vegas established itself as a bustling metropolis. The place began to attract investment – first from the Mafia, and later from some more respectable sources – and established itself as a global iconic tourist destination. In 2000, it had a population of nearly 500,000, making it the largest city in the United States to be founded in the 20th century. In 2019, Las Vegas’ GDP peaked at $131 billion.

Those of you who are still alive may remember what Las Vegas was like in its first few decades as a city—before it stood out. Can you feel the opportunity? Can you smell money?

If I had to guess, it would be similar to walking into Decentraland . Although the colors of the game are more vulgar and the graphical interface is still in the style of the 1990s, this “Metaverse” built on the blockchain has similarities with the “Sin City” in the United States . There are casinos with green felt tables, lavish art galleries, seedy bars, ticketed nightclubs and secluded brothels. There are locals doing their own business, as well as “out-of-towners” either coming to a concert, or attending a conference, or just for fun.

Decentraland has about 800,000 registered users, and its “population” has already surpassed that of Las Vegas. According to its current CTO, between December 2020 and December 2021, Decentraland’s “city” has grown by 3,300%. This figure doesn’t include about 70% of “guest” visitors, so it’s not recorded in the system.

Decentraland’s token, MANA, reflects this craze. Compared to last year, its price has risen by more than 4,100%. At the time of writing, the project has a fully diluted market cap of $6.5 billion.

So what do we think of this phenomenal growth and price spike?

It depends on who you ask. Some sources I spoke with pointed to Decentraland’s stagnant performance and low daily active users, suggesting that the project’s valuation reflects less about specific strengths than Mark Zuckerberg A focus on the “Metaverse”. Others argue that Decentraland is undervalued and that a project that could be the next big social network, a thriving business city, and a new kind of “spatial” internet portal shouldn’t be that low. .

In today’s article, we’ll explore these different perspectives and unravel some of the trends that have energized the field.We will talk about:

  • Metaverse . Regarding a hot word that is abused and misused, we want to give a specific definition.
  • Origins of Decentraland . This virtual world was born in a hacker’s house in Buenos Aires. It is a breeding ground for cryptocurrency innovation.
  • Meta effect . Decentraland encountered a massive bull run. In many ways, it has Zuckerberg to thank.
  • Strange journey . What can you do on Decentraland? We provide a guided tour of the often savage and occasionally wondrous places.
  • under the city . Decentraland is more than just a virtual game. It is also a token, a community and a governance system. Those things may become more important over time.
  • Valuation is tricky . Some believe that Decentraland property will be the most valuable property in the world. But how do you value digital real estate and the projects that underpin it?
  • Diverse future . New virtual worlds are entering the market, innovating the concept itself and encroaching on Decentraland’s turf. Expect more iterations.

By the end of this survey, we’ll have a solid understanding of the industry’s potential, and Decentraland’s chances of becoming the biggest city of the century.

What is the Metaverse?

The definition of the word “Metaverse” can quickly get confused. It’s easy to think of experiences like Second Life, Fortnite, and Roblox as different versions of this concept. This route may suddenly make you wonder if any big online game or collaboration tool fits its definition. Is World of Warcraft a Metaverse? What about Slack? This road will lead to madness.

era

Perhaps as a hedge against this ambiguity, some interesting alternatives have been proposed. Shaan Puri, an entrepreneur and creator, sees the Metaverse as an era — a moment when “we value our digital lives more than our physical lives.” As provocative as it is, no technological change is required to meet Puri’s standards. According to this measure, many digital natives may have reason to believe that they already live in a virtual world, their best friends are scattered on Discord servers, and their main assets are in the form of virtual currency. For some, digital life has transcended physical presence.Where does the first year of the “Metaverse Age” begin? – When 51% of the world’s digital lives become more valuable?Or 100%? Is it really nothing more than the moment when everyone becomes Extremely Online?

Puri’s (deliberate) recalibration removes something too basic: place. In the science fiction novel Avalanche, author Neil Stephenson depicts a virtual world made up of a 66,553-kilometer-long street surrounded by various attractions accessible via a VR-like headset. While words don’t need to remain faithful to their original meaning, much of the meaning of the “Metaverse” is that it allows users to absorb virtual experiences as if they were real. Space and incarnation are not incidental. Puri’s seductive and original formulation deserves its own name. His definition describes something like “physical flippening.” (That’s a nice word too, doesn’t it?)

space internet

This is the best, most succinct definition I could find, and it comes from virtual reality pioneer Tony Parisi, creator of the Virtual Reality Modeling Language (VRML). Parisi outlines seven “axiomatic” rules , summarised as follows:

  1. There is only one Metaverse . There are no multiple “Metaverses”. Fortnite and Roblox are not competing Metaverses, but “virtual worlds” or “games” that may one day exist within a larger Metaverse. Parisi advocates that we should use the word “Metaverse” like we use “internet.”
  2. The Metaverse belongs to everyone . According to Parisi’s definition, the Metaverse is ubiquitous and global.Therefore, he states that the Metaverse must be widely available and interpretable. It shouldn’t be too expensive to use, and it shouldn’t be too esoteric.
  3. No one can control the Metaverse . While there are companies trying to control the Metaverse, Parisi believes it’s doomed because it won’t satisfy every possible use case. Decentralization allows creators to better fight off monopolies.
  4. Open Metaverse . Parisi argues that the Metaverse should be built on public standards, just like internet products.New standards may need to be established to accommodate a more 3D-first environment.
  5. The Metaverse is independent of hardware . While much of the virtual world will be in 3D, immersion is not necessarily a must. Parisi anticipates 3D virtual products” can also be accessed via a 2D screen.
  6. The Metaverse is a network . The Metaverse is not a single program, but a vast network of information that can travel and interact. Users can communicate, trade and consume with each other on this plane.
  7. The Metaverse is the internet . This concept is consistent with Puri’s formulation. Parisi believes that over time, the internet will evolve into a Metaverse. However, the peculiarity of animation is not that the digital value exceeds the physical value (though digital life will definitely become richer), but the new experience and technology brought by the openness and collaboration of the Internet.

While Parisi’s exposition is more nuanced, the overview here highlights the core elements. At the end of his article there is a sentence that would serve as a good stand-alone definition in itself:

The Metaverse is an enhanced and upgraded Internet that continuously delivers 3D content, spatially organized information and experiences, and real-time, synchronized communications.

The definition feels clear, easy to understand, and has plenty of room for creativity. The Metaverse is the Internet, suitable for supporting a more comprehensive, multi-dimensional experience.

Interestingly, at the start of our conversation, Agustin Ferreira, the current head of Decentraland, noted that he felt the term was inappropriate for the project.

“I don’t really like the term Metaverse. That’s not what we’re developing.” Instead, Ferreira advocates for Decentraland to be defined as “spatial network” or “immersive network.”

Well, Decentraland is not a Metaverse, at least not by this standard. But the technologies it develops, the communities it awakens, and the capital it accumulates will likely play a key role in turning our current web toward that future. This dizzying responsibility comes from a less conspicuous origin.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/metas-biggest-opponent-it-is-the-forerunner-of-the-metaverse-1/
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.

Like (0)
Donate Buy me a coffee Buy me a coffee
Previous 2022-03-16 10:13
Next 2022-03-16 10:15

Related articles