Ten Questions About the Metaverse: Is There Still Hope for Virtual Land?

Is the Metaverse Doomed? Ten Key Questions.

1. Has the Metaverse cooled down?

More precisely, the virtual land in the Metaverse has cooled down, but as a place that provides people with new ways of life and interaction, the Metaverse has just begun. With Web3 mass adoption, the Metaverse will play an important role.

Cumulative transaction volume of virtual land. Source: https://www.metacat.world/analytics#BlockingrcelSalesAmount

2. Is there still hope for virtual land?

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It’s hard to say, but the scarcity of virtual land is definitely not real!

In the last cycle, virtual land was the main carrier of value in the Metaverse and a “fundraising tool” for project parties, but it may not be so in the future.

3. What is the Metaverse?

Simple version: A chain-linked 3D virtual space.

Metaphysical version: A highly integrated state of the digital world and the physical world, which is the ultimate state of human digital existence.

Positive energy version: The Metaverse creates new ways of interaction and life for people on a large scale globally.

Negative energy version: The Metaverse is a spiritual opium den for humans, a high-tech, low-life dystopia.

Zuzalu in Metaverse. Source: https://hyperfy.io/zuzalu/W3o7

4. What is interoperability in the Metaverse?

A set of standard specifications commonly used by Metaverse projects, involving identity, assets, transactions, scenes, etc., so that the virtual world can be interconnected and users can truly own their identity and assets, and assets can be freely traded and used.

Interoperability is the biggest inherent problem facing the development of the Metaverse. Without interoperability, the Metaverse is still a “walled garden”.

Of course, why the Metaverse specifically emphasizes/needs interoperability, while other areas such as DeFi, NFT, etc. do not emphasize this point, is it not yet time or simply not necessary? What do you think?

5. What is the most important thing for the Metaverse?

People, Space, Relationship. People correspond to Avatars, Space corresponds to 3D scenes, and Relationship is the connection between people, which reflects the social nature of the Metaverse. The interoperability of the Metaverse is essentially a series of solutions around these three elements.

The Telegarden. Source: https://goldberg.berkeley.edu/garden/Ars/

VI. Can the Metaverse truly be “UGC”?

Looking at the current state of the creator economy in the Web3 field, it is not enough to support the demand for content generation in the Metaverse, and it is more likely that PGC will be the main focus, with UGC as a supplement.

Source: https://ameblo.jp/shiorikawana/entry-12797514102.html

VII. Is GameFi the Metaverse?

GameFi is DeFi with a game shell, and it is not even a typical game, let alone the Metaverse.

The Metaverse requires “gamification”, but it is not a game. Games have established goals and missions, while the Metaverse is an open world for free exploration.

However, the basic infrastructure in the game field, such as rendering engines and modeling tools, is indeed the infrastructure of the Metaverse.

VIII. Does the Metaverse have to be based on blockchain?

The identity, assets, and transactions of users in the Metaverse must be based on the blockchain to be realized.

IX. Is the Metaverse related to DAO?

Both are creating new ways for humans to interact and live on a global scale. The Metaverse focuses on experience, while DAO focuses on collaboration.

X. Will the Metaverse move towards “high technology and low life”?

Not necessarily. This depends on people’s choices and values, such as how the builders shape the Metaverse, and how users balance the relationship between the virtual world and the real world, as well as the relationship between material and spirit.

A homeless person on the streets of San Francisco is using VR glasses. Source: https://weibo.com/2123664205/MjGsd5LeL

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