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Metaverse and Blockchain: Is it worth going all-in?

Impossible is Just Someone Else’s Opinion

Despite the obvious cynicism with all things Facebook and Meta, it’s still worth understanding why one of the world’s largest tech firms decided to gamble on metaverse.

Back in 2021, Mark Zuckerberg, the well-known founder of Facebook Inc., announced that the company is changing its name to Meta. Meta as in Metaverse. From a corporate point of view, a bold move, namely changing the longstanding, most recognisable name into something else that not everyone understood or even had heard of. And ‘something else’ is not a familiar term to Facebook’s many users. Zuckerberg introduced the concept during a second-quarter earnings call with investors, referring to it as the next generation of the internet, adding that Facebook believes so much in the idea that the company is going all in, and would spend billions to see the concept come to life.

The idea discussed was a transition in the user’s mind, seeing the company as a Metaverse company rather than just a social media platform. The dream, all along, if it was to be believed, was always the metaverse, as the holy grail of social media and social experiences. And the timing was simply that the tech climate was just the right mix of blockchain positivism.

There was evidence too, as the journey could be traced back cautiously and slowly from 2019 — a lifetime in tech terms. In fact, the 2014 acquisition of Oculus and the Horizon virtual world had opened the door for the company to explore options.

Stripping down Zuckerberg’s intricate high-level language that attempted to explain his Metaverse, we can see that it really was about being a new virtual ecosystem with new protocols and payment systems. Significantly, while the Metaverse as an idea was invented before Zuckerberg, Facebook’s founder was merely intending to run the race before his competitors arrived at the starting lines.

Distill this further and we get what seems to be a new social product that will include avatars and digital objects, allowing users to either continue using the internet as they did before or do some things that wouldn’t have made sense in the virtual environment before, such as dancing.

Since it takes two to tango, could blockchain be saving the last dance?

Blockchain Beyond Universe

Presuming that Zuckerberg is right about the Metaverse concept, he may need blockchain to make it work. If Meta’s idea of the Metaverse appears to entrench a centralized version of and control over the virtual environment, with such a recent privacy scandal fresh in memory, a more decentralized and open concept that blockchain offers could be more appealing.

This ‘point of no return’ where Meta embraces a decentralized, secure and open version could be a real game-changer, but it would have to be converted into a user-owned and governed organization. The many perks of blockchain could even offer a path to redress for some of Meta’s painful scars, such as privacy. Skyrocketing Metaverse without security brakes could drive the project into a failure it may never recover from, especially when privacy, safety, and ownership of data are sure to be main components of this undertaking.

If those words sound familiar, it’s because they are the very issues that blockchain technology has solutions to: improved user protection and privacy, data protection, and safe storage of digital identities and assets.

Meta can join the blockchain movement or not, but Metaverse-related conversations are now indelibly linked to blockchain, cryptocurrencies and NFTs and already applied in practice. Meta may be the loudest and most favorable competitor, but others have been gathering at the starting lines. Some rivals, like Next Earth company, aren’t shy critics either, claiming that platforms such as Facebook or Twitter are highly centralized and that Meta intends to keep it that way. Such voices are bringing attention to the decentralized metaverse initiative and exposing the absurdity of giving over ownership of a virtual identity to a centralized platform.

The blockchain movement supports giving power back to users, assigning them sole ownership of their digital identities and assets. Blockchain empowers users to choose privacy and security, transparency, and decentralization.

Going all-in isn’t about giving away billions; it is about giving away power and control. The math is clear: Got to give all to get all.

The Cradles Verse of Metaverse

Cradles was not built as a metaverse project but as a gaming project. In the same way it wasn’t started as a blockchain project but as a gaming one. In building the game we desire, the metaverse concept is crucial, without being central.

The truth behind that expression lies in the fact that here at Cradles we care about the development of the game, and that if we focused on reaching the Metaverse ideal (whatever that may be), the game could lose direction and soul.

Instead, our approach is to develop innovation that favors a metaverse growing in the right direction, introducing via blockchain technology, aspects of the metaverse that were not until today possible. And our aim is to involve our community members in creating in that world, hoping that they will eventually take over the reins and shape the idea metaverse, as they deem fit.

When we, as a community of Cradians, embrace such an idea and find a way to reach it the way we want, the outcome — the shape of that metaverse — hardly matters. What matters is that small acts, multiplied by the multitudes of people, can truly transform the world.

Isn’t that worth going all-in for?

As always, feel free to reach out to us or join the conversation with Cradians on the following channels:

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