Meta-Hebdo: are we lost in the metaverse?

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 intermediaries, all these notions specific to the so-called blockchain universe seem to be put to the test in the construction of the basis of this virtual world. Indeed, built on a sometimes very vague foundation, the shadow of Web2 weighs heavily on the metaverse and worries some. Stuck between a galvanizing virtual freedom and the troubling conquest of large groups like Meta or Coinbase, the metaverse is looking for 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, criss-crossing worlds, is easily contrasted with the static image of news wall offered by current social networks such as Twitter or Facebook. And rightfully so. The latter, renamed Meta, is developing a metaverse: Horizon World.

The proud leader of Meta, Marc Zuckerberg, declared this week that he intended to develop NFTs in his metaverse, not without cost. For Meta, the metaverse actually has a price: the social network provides 47.5% including 25% of the out-of-pocket costs for transactions in its metaverse. NFTs offered for sale on its marketplace will also be taxed, thereby hurting creators.

“The ability to sell goods and gain access rights in virtual worlds is now part of the overall e-commerce equation”

Mark Zuckerberg

However, something is wrong. First of all, Marc Zuckerberg links to the principles of web3 the concept of e-commerce, which is specific to web 2. Next, the share of participation that Meta seems to take in the resale of NFTs goes against the values ​​of NFT community. Indeed, the power of decentralization is to allow artists to control their work. From creation to distribution, from sale to purchase, blockchain gives the artist full control over his work.

Marc Zuckerberg, head of Meta (Facebook) has NFTs in his sights.

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Coinbase: from crypto to NFT via social networks

Conversely, Coinbase is inspired by the web 2 giants. In fact, the crypto platform started The BETA version of its marketplace (marketplace) NFT. Available only to a small group of lucky people, Coinbase NFT appears as the Instagram of NFTs:

“While buying and selling NFT is a big part of the ecosystem today, what we’ve learned from talking to many customers and creators is that buying and selling isn’t enough. There’s also the community aspect. »

Sanchan Saxena, Vice President of Products and Ecosystem at Coinbase

Thus, the platform will allow for commitments between users in the same way as Facebook or Instagram, underscoring the importance of the community aspect. Through this prism, we understand the importance of the social aspect of the metaverse, already emphasized by web3 giants such as Decentraland or The Sandbox.

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 cradles them creation of bitcoin. Faced with libertarians, Meta’s approach can be transgressive.

The Sandbox in its new partnership with Slipknot also emphasizes the importance of community and social spaces in its metaverse. Forget the glittering evenings at the Paris Hilton in Decentraland and join the dark universe of the Knotverse, the metal band’s metaverse. At the intersection of genres and spaces, The Sandbox confirms its desire for more coherent terrains and a varied culture in its virtual space.

“We are proud to welcome Slipknot and Knotfest as the first heavy metal band to open a home for their community in the open metaverse The Sandbox. We’re building the future of digital expression and social interaction, and this partnership invites a diverse and free-thinking new audience to experience the benefits of true ownership, where every Slipknot NFT can be used not just in The Sandbox, but on any other compatible platform. »

Sébastien Borget, CEO of The Sandbox

NFT and the metaverse are at the meeting point in the Knotverse, the virtual world of Slipknot in The Sandbox
“We’re partnering with Slipknot to create KNOTVERSE! A unique meeting place for music culture in the Metaverse! »– Source: Twitter

For The Sandbox, the metaverse has a price

The sandbox, in its own way, knows the price of its virtual world all too well. So by virtue of a first fundraiser of 93 millions of dollarsthe giant of the metaverse sets the table for 400 million dollars additional. The sandbox could then expand further, raising its capitalization to $4 billion.

The sandbox is probably still one of the most successful metaverses we know 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

Sandbox isn’t the only one that has to break the bank to grow. Thus, this week we could hear about the takeover of ReKt Global, a big name in e-sports, for 470 million dollars by Infinite Reality. This company provides services for infrastructures that want to enter the metaverse (development, smart contracts, content, authentication, etc.). It aims to become a leader in a criss-crossing metaverse. In this dynamic, e-sports and video games are essential. They allow Infinite Reality to expand its service catalog by taking advantage of the development opportunities that ReKT Global offers.

This strategic choice of Infinite Reality confirms the trend and the strong connection between NFT games, DAOs and the metaverse.

Animoca, the king of gaming in the metaverse
The metaverse will have to reckon with NFT games and games.

Huyndai: metamobility, the way of the future?

Hyundai is also investing in the metaverse. In fact, this week the robotics and technology giant announced an NFT project: Meta Kongz, a collection limited to 30 NFTs. With a metamobility project, Hyundai wants a metaverse where robotics is a means of overcoming the physical limits of space. This conception of the metaverse already widens the gap with the virtual world of Horizon World, for example.

“The idea behind metamobility is that space, time and distance will become useless. By connecting robots with the metaverse, we will be able to move freely between the real world and the virtual reality. Going one step further in the immersive experience (…), as the metaverse provides, robots will become an extension of our own physical senses, allowing us to reshape and enrich our daily lives with metamobility. »

Chang Song, Chairman of Hyundai Group and Head of Transportation-as-a-Service Division

Robot giant Hyundai launches into NFTs and metaverse
Hyundai is shaking up routes in the metaverse with the concept of metamobility.

Delineate the metaverse, define it, and provide it a single route, all mapped on the web 3 is tricky. The paths to the future of social networks and web2 are numerous and do not respect the same codes. Also like Emmett Brown in Back to the Future, some see in the metaverse the opportunity “to expand our understanding of humanity, where we come from, where we are going, the convulsions and ups and downs, the dangers and the promises, perhaps 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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