Artificial Scarcity Will Hurt the Metaverse
We Don’t Have to Replicate the Real World
The online world is changing right before our eyes. Virtual reality is finally starting to gain traction. The blockchain, cryptocurrencies, and NFTs are changing how people view ownership. The combination of these technologies will create what is known as the Metaverse. I believe the Metaverse will be a multiverse of different virtual universes. These universes will live on a variety of blockchains. For this Metaverse to come to fruition, we will need to stop artificial scarcity. There is a time for scarcity, but it shouldn’t be artificially created.
The Bad
Artificial scarcity will transfer the problems of real-life into the Metaverse. The rich will own everything and leave very little enjoyment for everyone else. There will be early adopters who get rich, but the majority of small-timers will jump from Metaverse to Metaverse. The only users that will come will be looking for a quick way to earn money. An example of artificial scarcity is virtual land. Nothing is stopping them from creating more land other than artificial scarcity. Take one look at the land prices in Decentraland, and you will see the problem. That shouldn’t be the goal of the Metaverse. The Metaverse should create experiences that you can’t get or are hard to replicate in real…
