Whether you like it or not, we are entering an era that will fundamentally impact the way we live, transact and socialize. Metaverse quickly became the main focus among the most prominent tech companies. No wonder though, there's a massive untapped territory for building digital economies, and those who manage to pioneer the technology will be the leaders of this newly created, digital universe.
Microsoft is building out its own metaverse and rolling out 3D avatars for teams. Earlier in April, Epic Games, the gaming giant behind the teen favorite Fortnite, raised $1 billion for its metaverse efforts. A lot of big players are revving up their engines to race into the Metaverse, and money tends to make things happen.
Pandemic just accelerated the process.
It's mind blowing how fast things change. Just the other day no one understood the concept behind crypto, and today we're talking metaverse in a big way.
#NFTs had a rough time retaining credibility due to its abstract and derived value, and today you can easily conclude that everything in the metaverse will be considered #NFT. Suddenly everything makes sense.
The new paradigm is emerging but so does the problems related to it.
I think we don't have an adequate tools to fight possible monopolies and bad behavior/exploits made by central companies. It wouldn't be the first time big corps sold our data to the highest bidder - no?
To be more precise, that same guy that proudly announced Meta have done it multiple times haha. Like fuck, this smells bad.
Perhaps I'm just a natural skeptic but I can't help myself not to ask the hard questions that will become increasingly important to our privacy.
If the plan is to allow a few small companies to have a full control over our lives, than we're talking technocracy. Yet again, it's not the technology that's bad, people are but tech can give them leverage.
Building a functional metaverse requires an enormous amount of Capital and I'm not convinced if DAOs can compete with trillion dollars companies.
It'll be hard battle, that's the only thing in sure of.
Fun times ahead.
