Where we’re going, we don’t need a road! – Over the weeks, the metaverse promises us a world that would expand the fields of the possible. Decentralization, anonymity, absence of intermediary, all these notions peculiar to the so-called blockchain universe seem to be put to the test in the construction of the foundations of this virtual world. Indeed, built on sometimes very vague ground, Web2’s shadow weighs on the metaverse and worries some. Sandwiched between a stimulating virtual freedom and the worrying conquest of large groups like Meta or Coinbase, the metaverse is making its way. Throwback to this week in the future.
In order not to get lost in the Meta-Hebdo:
Meta: a metaverse that pays for your NFTs?
The idea of a metaverse, an interconnected virtual space, at the crossroads of worlds, easily contrasts with the static image of the news wall offered by current social networks such as Twitter or Facebook. Rightly so. The latter, renamed Meta, is developing a metaverse: Horizon World.
Proud Meta leader Marc Zuckerberg this week declared his intention to develop NFTs in his metaverse, not without cost. For Meta, the metaverse does indeed come at a price: the social network provides 47.5% including 25% of the fees pocketed for transactions in its metaverse. NFTs offered for sale on the marketplace will also be taxed, penalizing makers.
“The ability to sell items and access virtual worlds is now part of the overall e-commerce equation”
Mark Zuckerberg
However, something is wrong. First of all Marc Zuckerberg attaches to the principles of web3 the notion of e-commerce, specific to web 2. Next, Meta’s share of NFT resale goes against the values of the NFT community. Indeed, the power of decentralization is that artists can control their work. From creation to distribution, from sale to purchase, the blockchain gives the artist complete control over his work.
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Coinbase: from crypto to NFT through social networks
Conversely, Coinbase has been inspired by the giants of the web 2. Indeed, the crypto platform has begun the BETA version of its marketplace (marketplace) NFT. Coinbase NFT is only accessible to a small group of lucky people and appears as the Instagram of NFTs:
“While buying and selling NFT is a big part of the ecosystem these days, we’ve learned from talking to many customers and creators that it’s not enough just to buy and sell. Then there’s the community aspect. »
Sanchan Saxena, vice president of products and ecosystems at Coinbase
Thus, the platform will provide opportunities for connections between users in the manner of Facebook or Instagram, underlining the importance of the community aspect. Through this prism, we understand the importance of the social aspect of the metaverse, already underlined by web3 giants such as Decentraland or The Sandbox.
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The Sandbox: a metaverse under the sign of diversity
However, let’s not forget the primary philosophy behind the creation of NFTs, and more generally the philosophy that underpinned creation of bitcoin. Faced with libertarians, Meta’s approach can be frightening.
The Sandbox in his new collaboration with Slipknot also emphasizes the importance of community and social space in its metaverse. Forget the glittering evenings of Paris Hilton in Decentraland and join the dark universe of the Knotverse, metaverse of the metal band. At the crossroads of genres and spaces, The Sandbox reaffirms its desire for different interconnected terrains and diverse culture within its virtual space.
“We are proud to welcome Slipknot and Knotfest as the first heavy music band to open a home for their community in the open metaverse The Sandbox. As we build the future of digital expression and social interaction, this collaboration invites a diverse and free-thinking new audience to experience the benefits of true ownership where every Slipknot NFT can be used not only in The Sandbox but on any other compatible platform. »
Sebastien Borget, CEO of The Sandbox
For The Sandbox, the metaverse comes at a price
The Sandbox, in its own way, knows all too well the price of its virtual world. So, based on an initial fundraiser of 93 millions of dollarsthe giant of the metaverse sets the table $400 million Additionally. The Sandbox could then expand further, increasing its capitalization to $4 billion.
The Sandbox probably remains one of the most successful metaverses we know of on the blockchain. However, the still embryonic project confirms that it remains difficult to define the contours of a definition of the metaverse as it will be.
Infinite Reality: $470 million for the metaverse
The Sandbox isn’t the only one that needs to break the bank in order to grow. For example, this week we learned of the acquisition of ReKt Global, a big name in e-sports, for $470 million through infinite reality. This company provides services to infrastructures that want to go into the metaverse (development, smart contracts, content, authentication, etc.). It aims to become a leader in a metaverse at the crossroads of worlds. In this dynamic, e-sports and video games are essential. They enable Infinite Reality to expand its catalog of services by leveraging the development opportunities offered by ReKT Global.
This strategic choice for Infinite Reality confirms the trend and the strong link between NFT games, DAOs and the metaverse.
Huyndai: metamobility, the way of the future?
Hyundai is also investing in the metaverse. Indeed, the robot and tech giant announced an NFT project this week: Meta Kongz, a collection limited to 30 NFTs. With a metamobility project, Hyundai wants a metaverse in which robotics is a means to overcome the physical boundaries of spaces. This conception of the metaverse already widens the gap with, say, the virtual world of Horizon World.
“The idea behind metamobility is that space, time and distance all become useless. Connecting robots to the metaverse allows us to move freely between the real world and virtual reality. Taking the immersive experience (…) the metaverse provides one step further, robots will become an extension of our own physical senses, enabling us to reshape and enrich our everyday lives with metamobility. »
Chang Song, chairman of Hyundai Group and head of the Transportation-as-a-Service division
Define the metaverse, define it and deliver it one single route, all mapped out in the web 3 is tricky. The paths to the future of social networks and web2 are many and do not respect the same codes. Also, as Emmett Brown in Back to the future, some see in the metaverse the opportunity “to broaden our perception of humanity, where we come from, where we’re going, the convulsions and the ups and downs, the dangers and the promises, maybe even finding an answer to this eternal question: Why?”. Others, like Marty Mcfly, see it as a way to “put a little butter in the spinach.”
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