Meta’s biggest opponent: it is the forerunner of the Metaverse (5)

“Judge a person by his questions, not his answers.”

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 fifth part.

Meta's biggest opponent: it is the forerunner of the Metaverse (5)

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The Future: Active Frontiers

Decentraland isn’t the only world builder. Others are chasing the bounty offered by the new paradigm shift, and Meta is bearing the brunt of it.

Meta

Should Decentraland Worry About Zuckerberg’s Army? However my sources are generally friendly towards web3 and no one seems to be too concerned about Meta’s involvement. While the company claims to want an “open” Metaverse, some are skeptical that it lives up to its word. Is Meta so kind and willing to achieve true interoperability? Esteban Ordano outlines some of the incentives that can make interoperability difficult to achieve:

For Meta, are the incentives the same as being a very open platform? I’m not sure. Even things like…display names are highly relevant. For example, I don’t see Facebook allowing your avatar to be displayed alongside your Decentraland name because you want to ensure consistency between experiences and prevent others from impersonating… Interoperability sounds good, but I I believe that this question is more difficult than many people realize. Inside Facebook, some people will be faced with a clear-cut decision: whether to risk losing their jobs by participating in a program that involves hundreds of designers and engineers over a nine-month period to bring the product’s user experience to life. Do it a lot more complicated, the purpose is to be able to support the competitor’s identity system? (Spoiler alert: of course not)

Andrew Steinwold is even more skeptical:

Facebook has lied about the mental health harm the platform is doing, and they have built the platform as a place to fan the flames because it increases engagement. They claim their “Metaverse” will be open and people can earn and own assets, but I don’t believe them. They have lied countless times in the pursuit of power, so why suddenly become friendly and start “doing good”?

Meta still has the potential to be successful and shows some friendliness to open source projects. CTOAgustin Mendez highlighted its “huge” contribution, noting their native support for glTF files, an open standard for displaying 3D models.He also called Meta’s Oculus product “the key to the Metaverse.”

Ultimately, there’s plenty of room for multiple winners. The instantiation of Meta is unlikely to satisfy all needs. Many other interesting projects are bringing new ideas.

rebels

While Decentraland is leading the way in the Web3 world, The Sandbox is closely following it. Sandbox, a subsidiary of blockchain gaming company Animoca Brands, appears to be exhibiting a slightly different ethos. One source said Sandbox was more “gamey” than Decentraland, which they felt was more of an amusement park. Since Sandbox’s “Alpha Season 1” has closed, there’s no way to play it for the time being, which may indicate that the product is still early in its life cycle.

Those restrictions don’t seem to stop Sandbox. After Zuckerberg’s announcement of the company’s transformation, the Sandbox, which emerged in 2020, has also been wiped out. The price of its token, SAND, surged from around $0.80 to over $8 in less than a month. Market capitalization is over $14 billion on a fully diluted basis (float market capitalization is $4.3 billion). In the past month, it has surpassed Decentraland’s secondary trading volume on the OpenSea market.

Cryptovoxels is another player with a loyal user base. Piers Kicks, founding partner of Delphi Digital and head of cryptocurrency at Bitkraft Ventures, said he was impressed by the project’s lean development team. Several others have also mentioned the product. Sfermion’s Andrew Steinwold praised its “more reasonable” land prices and good content development features. When I asked Decentraland’s CTO Mendez what he finds attractive in other worlds, he replied:

I appreciate the CryptoVoxels project, and I can see that they put a lot of effort into it and are the first to make something really workable. I think they kept the essence of Cypherpunks in the project, and from my point of view, they didn’t get any outside influence and did what they thought was the best.

Somnium also has a batch of iron powder. “It’s the only crypto project that comes close to VR,” says Kicks. While it’s also accessible on the web, Somnium doesn’t seem to come alive until the Oculus is on. Kicks highlighted the seamlessness of this virtual world and the enthusiasm of the community.

There are more things emerging, some clearly positioned as games, others more multipurpose. The first category includes Bright Star Studios’ Ember Sword, Meilich’s Big Time, Faraway, and Defi Kingdoms. The second category includes NFT Oasis, NFT Worlds, Nifty Island, and those built on our real world maps like SuperWorld and Upland. Each new project can bring new ideas to the task of building the Metaverse.

open design space

During our discussion, Piers Kicks highlighted how many gaps remain. How much more design space there is to explore.Does the land have to function the way we expect it to in the real world, or can it take on new dimensions? What are the ways to provide financial support for land development?

From the current point of view, the reserve price to buy a piece of land (LAND) on Decentraland exceeds $10,000. While that’s a sign of strong demand, the price has put off many who wanted to get into the world. However, in order to maintain scarcity, Decentraland is unlikely to expand supply. When the new entrants were hindered because they could not afford it, many old landlords did not use the land in their hands to create value.

How can the virtual world solve this problem? One way might be to lower the barriers to entry while still allowing whales and cannons to demonstrate their status.

For example, Kicks raised the possibility of “dynamic land”, is it possible to make a kind of estate that moves around a fixed point? Those valuable locations near the center of the map might be accessible only to developers and those who have mortgaged it. Conceivably, such a decision would include factors such as investment capital, number of visitors, and duration of holding. According to this construction method, the project can continue to expand the territory, increase the supply, and at the same time reward those with deep pockets. At the same time, it can also reduce the number of “dead zones” that prevent parts of virtual worlds like Decentraland from falling into desolation.

Kicks also mentioned an example of allowing users to increase the size of their properties on the virtual world map. While the actual size of the property will not increase, their parcel will have a higher status and attract more attention. Nifty Island is apparently experimenting with this mechanism.

There are also many ways to experiment with these dimensions. For example, how about rendering some real estate in black and white and some in color? How about making some low resolution and some high definition? What if your block changed based on the price of an asset, wallet activity, social graph, time zone, or any other number of factors? The cities of the future don’t have to be like the cities of today. Maps are not territories, the saying is truer than ever.

And financial innovation is also needed. Although Decentralized Finance (DeFi) can achieve double-digit interest rates through staking and stablecoins, this does not seem to have entered the virtual world yet. In our research on Terra, we noticed some new projects that provide payment methods for users to buy products and then earn interest through Terra’s Anchor protocol. Only interest is paid, and there are no fees.

What if something similar could be done in Decentraland? Instead of buying land outright (LAND), investors can mortgage their Terra through Anchor and buy the land back slowly, bit by bit. Likewise, existing landlords can choose to add collateral on top of their existing properties to fund development, expansion, or push funds back into the project itself.

Over the next few years, we should see a wave of new models emerge.

postscript

Decentraland isn’t quite a thriving city. While it may be well-capitalized and its user base is growing rapidly, for now, it is a metropolis in motion, a metropolis still maturing. There’s art and commerce, there’s economics and governance, but it doesn’t have that quality of life, I can’t tell what, but it’s what energizes our real world and draws us into cities.

The house where Decentraland was born bears the name of Voltaire. This writer once advised us to “judgment a person by his questions, not his answers.” That’s a good way to judge what Ordano and his team have done.

But in the past seven years, few have asked more interesting questions. Someday, maybe soon, they’ll find out.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/metas-biggest-opponent-it-is-the-forerunner-of-the-metaverse-5/
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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