- Metaverse is a concept that enables the users to enter a virtual world accessible through AR, VR, and other devices.
- Social media behemoth changed its name to Meta, as it enters the metaverse.
- Metaverse will be equal for all, and it’s not going to be ‘winner takes all’, Animoca Brands CEO Yat Sui makes predictions.
Folks are getting more conscious as Facebook said that they’re going to be Meta and kind of be the metaverse — even if their metaverse isn’t driven by blockchain or genuinely open. When you consider the entire adoption graph, we’re still in the initial adopter stage, but we’re swiftly progressing through it. People are discussing the metaverse’s possibilities including in non-financial spheres. So, from that vantage point, we’re likely to go from millions of people in the space to tens of millions, according to Yat Sui We’ll have hundreds of millions of consumers in the open metaverse by 2022, thanks to blockchain.
No ‘Winner Takes All‘
Yat Sui believes it will not be a winner-take-all situation. In fact, if there’s one, it might be pretty dismal since it would have an influence on things like choices, variety, and inclusiveness. If there was just one such setting, all of these things would strive and suffer. As far as Animoca Brands is concerned, the most important aspect of all of this stems from one main worldview: real virtual ownership. If users can have precise secure ownership rights in the virtual realm, regardless of which chain or metaverse they’re on, then the basis for what we perceive to be the genuine metaverse and the type of communities that have a genuine property in the manner that they can be secure and protected can be constructed from there, allowing for the building of new businesses and innovations to kinda innovate on top of it.
The Open Metaverse
The concept for Yat Sui is the open metaverse’s huge promise: that can be built precisely as similar to the material realm — in terms of creativity, thoughts, and the development of innovative things — because I happen to possess ‘this,’ and that ownership is safe and verified. That is, after all, what the open metaverse is all about. Some corporations are attempting to construct a restricted metaverse, but we believe they will eventually fail. But, clearly, I believe that would be a major topic in the future years, with people attempting to establish the restricted metaverse competing with those attempting to develop the open metaverse, including firms like Animoca Brands.
As far as we are concerned, Metaverse is still in its development phase, and people have to wait for some time to know what Metaverse actually holds for them. Metaverse is getting significant attention from people as well as organizations, making it bigger day by day. All sorts of possibilities and thoughts are circling around the Metaverse, and people and organizations are trying to make it more realistic, similar to the material realm, so that they can live an alternate life and take a break from the actual life.