Three “Myths” of the Technology Industry in 2021: Metaverse, NFT, Web 3

Science and technology takes painting cakes first, first creating words and then dreams.

Gou Rixin, day by day, and day by day. Since the first industrial revolution, the development of science and technology has entered the fast lane. How fast is it? The famous Moore’s Law has fundamentally been the development speed of the semiconductor industry.

It is also because of the faster and faster technological change in the technology industry that a large number of outlets and chasers (technical practitioners, media and investors) emerge every year, so that many technologies and concepts that have not made breakthrough progress, The old wine in the form of new bottles has been lifted to the altar, so what are the “mythical” technology words that have appeared in the technology industry in 2021?

Metaverse shuts us out

First of all, I mentioned the scientific and technological vocabulary that is “mythical”. Like me, everyone will put the word “metacosmic” first.

To what extent has the Metaverse been mythological? It is reported that KKR, the world’s leading investment institution, once stated that there are only two ways for the development of technology giants in the future, either to integrate into the metaverse or to develop virtual currencies. This shows the weight of the Metaverse in the heart of the “wind chaser”.

Why is everyone so optimistic about Metaverse? Has the Metaverse been exaggerated? Before answering these questions, we still have to repeat the explanation, what is the Metaverse? From a more official explanation, the term metaverse is derived from the two concepts of “metaverse” and “Avatar” mentioned in the science fiction novel “Avalanche”. People can have it in “Metaverse” One’s own virtual double, and this virtual world is called “Metaverse”. In layman’s terms, it is a virtual system that can work, socialize, and entertain in it. Therefore, technology companies want to get the first month from the water and become the “world government” in the metaverse.

Facebook not only accelerated the layout of hardware (Oculus glasses, tactile gloves) and software (virtual office Horizon Workrooms), it even changed the company’s name to Meta for the sake of Metaverse. In addition to Facebook, Microsoft, Google, and China’s Tencent, Alibaba, Baidu, NetEase, ByteDance and other technology giants have strengthened their layout in the Metaverse. For example, Baidu recently launched China’s first Metaverse platform-Greece. , But in terms of completion, playability, and practicality, there is a big gap with Facebook’s Horizon platform (very rough), and many technology companies, including Facebook, are chanting Metaverse for one year I haven’t come up with a product that conforms to the concept of Metaverse, but Metaverse has already swept away tens of billions of dollars in funds this year. Among them, between September and November in China, Metaverse received 63 financings (each financing scale). Over 10 million).

Three "Myths" of the Technology Industry in 2021: Metaverse, NFT, Web 3

In fact, Metaverse construction is a systematic project. It requires breakthroughs in interactive technologies represented by VR, AR, and XR, as well as blockchain technology, Internet of Things technology, network and computing technology, artificial intelligence technology, and electronics. Game technology can innovate the existing technology, but even the latest 5G network cannot carry the immersive Metaverse experience in the movie “Player One”. It can be said that we have not even touched the door of the Metaverse.

NFT has raised the hand holding the sickle

If Metaverse uses today’s money to help the public complete the dream of the future, then the popular NFT like Metaverse uses the majority’s money to help a few to complete their dreams.

In fact, even if the NFT is out of the circle (the front desk of the company will always ask about NFT), everyone is still in the cloud about what NFT is. NFT, or Non-Fungible Token, is translated as non-fungible token in Chinese. To put it bluntly, it is a special digital asset similar to Bitcoin, except that it is a non-fungible token.

Three "Myths" of the Technology Industry in 2021: Metaverse, NFT, Web 3

In the blockchain field, there are many types of tokens: for example, Ethereum’s ETH, Bitcoin, Binance’s BNB, etc. Many tokens can be divided into homogenized tokens (such as Bitcoin, Ethereum, etc.) and non-homogeneous tokens (such as NFT). There are two main differences between NFT and homogenized tokens (such as Bitcoin and Ethereum): First, each NFT has a unique and unique identifier, which is not interchangeable, but common other tokens (Bitcoin Coin, Ethereum, etc.) are homogenized, that is, there is no difference between each token and can be interchanged; second, due to the non-homogeneity and uniqueness of each NFT, the smallest unit of NFT is 1, and indivisible, but other common tokens are divisible.

What everyone doesn’t know about NFT is that, in fact, NFT had its first project as early as 2017-CryptoKitties, and in the following years, although there were many NFT projects, such as OpenSea, SuperRare and other trading platforms appeared, Nike , F1 has also entered this market, but it has always been in a tepid state, but why did it suddenly become popular in 2021?

The reason is not because NFT has changed the trading methods of works of art, music, etc., and strengthened the protection of the property rights of digital works, but because Bitcoin and other virtual currencies are getting colder in the world (many countries do not allow speculation). The circle needs a new outlet, so NFT has become a new outlet, so the story of NFT making rich is endless, because it needs to be hyped.

Web 3 is drawing us a pie again

Along with NFT, there is also “Web 3”, which has just been named this year’s science and technology vocabulary by Reuters.

Three "Myths" of the Technology Industry in 2021: Metaverse, NFT, Web 3

Web 3 generally refers to an Internet where payments and funds are digitally native, an Internet where “decentralized” applications compete with centralized applications, and an Internet where users can have more control over their identities and data. , Simply put, it is the decentralized Internet.

Web 3 is the next evolutionary form of the Internet, which is based on the blockchain and has the characteristics of decentralization. Its emergence will not only completely break the monopoly of Google, Meta, Twitter and other technology giants on the Internet, but will also give birth to a series of new technological forms, which are closely related to emerging concepts such as Metaverse and cryptocurrency.

But for such a concept like the Garden of Eden, cosmic internet celebrity Musk and Twitter founder Jack Dorsey poured cold water unexpectedly. They believe that although these venture capitalists preach that Web3 is owned by the general public, in fact they have already figured out how to use this concept to make a lot of money from ordinary people, and eventually it will become a center with different labels. The entity is like the earliest blog.

Although Jack Dorsey’s words were excessive, they were unreasonable. Take Ethereum, which is currently the closest to the concept of Web 3, has established a large number of decentralized applications, including Uniswap, Compound, etc., and users do not need to register or authenticate to use these applications. However, the application of the Ethereum network is still more in the single field of finance, and many of its applications are not so decentralized. The frequent occurrence of theft by the project team is an example.

Three "Myths" of the Technology Industry in 2021: Metaverse, NFT, Web 3

In fact, similar to Metaverse, Web 3 is also a concept many years ago. It was proposed by Gavin, the CTO of Ethereum at the time, in 2014. Its core is decentralization, but this year we basically cannot see it. As Musk said, “At this stage, Web3 is just a marketing term. Has anyone seen web3? I didn’t find it. But we really want to know what the world will look like in 10, 20, 30 years from now.”

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/three-myths-of-the-technology-industry-in-2021-metaverse-nft-web-3/
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