The Metaverse is shaping up to radically transform the way we go about our daily lives, helping to provide a comprehensive medium that encompasses the next generation of products, services, tools, and experiences.
Right now, the exact form of the Metaverse is uncertain. Similar to how it was nearly impossible to predict what the internet of today would look like back when the primary way of long-distance communication was the fax machine and the main source of wireless entertainment and information delivery was radio.
Nonetheless, we are beginning to see the emergence of several foundation technologies, which will almost certainly play a major role in powering the Metaverse, and enabling the services that constitute the Metaverse equivalent of today’s worldwide web.
As a next-generation ecosystem of services, accessed through the next-generation of interface devices, and powered by the cutting-edge technologies of today (and tomorrow), the Metaverse is going to profoundly impact society as we know it — likely in many ways that we cannot predict.
Here, we take a look into some of the key tenets that we think will form some of the key narratives of the Metaverse.
Interoperable
Much like the internet of today, which is full of web apps, login integrations, and other conveniences that make getting around and accessing services a simple task, the Metaverse will be similar — albeit far more seamless. Applications, products, and services in the Metaverse will initially be separated by hard borders, but over time, an increasing selection will essentially blend together into an interoperable super ecosystem.
The financial primitives of the DeFi space are an excellent example of how the Metaverse will be built and evolve. New technologies and solutions will be built on top of and alongside existing options, extending their functionality while expanding their potential user-base.
The platforms used to initially bridge Metaverse projects and services together are already being built, and will eventually become foundational to the functioning of the Metaverse.
Immersive
A new type of internet requires a new type of interface. This is where augmented and virtual reality are going to come in.
Though the Metaverse will be accessible through a traditional web browser interface like the web 2.0 of today, more and more projects and services will also offer a more immersive experience that can only be accessed through AR/VR headsets or other next-generation interface devices.
These services will be organized across one or more layers, and depending on how collaborative and open the Metaverse ends up being, they may be split across different ‘Metaverses’ — similar to how applications of today are divided/segregated by operating system.
This 3-dimensional digital landscape will be as vast as it is deep, and will be host to the next generation of experiences and entertainment.
Permissionless
Blockchain-based technologies are an inevitable part of the Metaverse. Indeed, many of the technologies that will be pivotal to the operation, security, and flexibility of the Metaverse will rely on smart contracts and DLTs like blockchain. Cryptocurrencies and NFTs will be among the most popular ways to exchange value in the Metaverse. But if there’s one aspect of the cryptocurrency ethos that’s going to shine through in the Metaverse, it’s their permissionless nature.
Unlike the internet of today, much of which exists as a walled garden that only a few have the privilege to access, the Metaverse will be a permissionless place to work, socialize, shop, relax, and play.
This will be powered by a range of protocols and technologies that help ensure that anybody, anywhere is able to access the vast expanse that is the Metaverse. It will be a tool used to empower billions, while changing the way that we think about race, class, and more.
Entertaining
Though the Metaverse will be bursting with innovation and novel experiences, it’s more than likely that it’ll be a vastly more entertaining place than the internet of today.
For one, a good chunk of the Metaverse will be gamified. As more brands, businesses, and individuals begin to do what they can to improve the user experience of their applications, services, and products, many will begin to incorporate gaming elements. But more than this, as has been demonstrated by the rampant success of DeFi and play-to-earn games, many of these platforms will provide value back to the user in the form of some sort of reward.
In time, more and more users will look to monetize their own shopping, browsing, and exploration habits by preferentially interacting with solutions that provide a kickback or entertainment factor. As a result, the platforms that meet these criteria will have an early advantage.
Democratic
Decentralized autonomous organizations, or DAOs, are a clever new way to organize people over the internet using blockchain technology.
Similarly, they’ll be an important part of the Metaverse, where they’ll be used to enable individuals and organizations with an aligned interest to make decisions in a more democratic fashion. These will be an important line of defense against the centralized behemoths that will seek to seize control over the narratives of the Metaverse and gain a monopoly over the time, attention, and resource of its users.
Fortunately, the teams that will develop the solutions to ensure the Metaverse develops along the lines that best fit the users are already hard at work.
