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 foundations of this virtual world. Indeed, the shadow of Web2, built on a sometimes very vague foundation, hangs over the metaverse and worries some. Stuck between an electrifying virtual freedom and worrying conquest by big corporations like Meta or Coinbase, the Metaverse seeks its way. Review of 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, a networked virtual space at the intersection of worlds, opposes the static image of light message wall offered by current social networks such as Twitter or Facebook. And rightly so. The latter, renamed Meta, develops a metaverse: Horizon World.

The proud leader of the Meta, Marc Zuckerberg, this week stated his intention to develop NFTs in his Metaverse, at no cost. In fact, the metaverse has a price for meta: the social network provides 47.5%, including 25% of the costs, for transactions in its metaverse. NFTs offered for sale on its marketplace are also taxed, hurting creators.

“The ability to sell items and access privileges in virtual worlds is now part of the overall e-commerce equation.”

Mark Zuckerberg

However, something is wrong. First, Marc Zuckerberg adds the notion of e-commerce, specific to Web 2, to the principles of Web3. Then the percentage of ownership that Meta appears to be taking in the resale of NFTs contradicts the values ​​of the NFT community. In fact, the power of decentralization is that it allows artists to take control of their work. From creation to distribution, from sale to purchase, the blockchain allows the artist to have total control over their work.

Meta (Facebook) boss Marc Zuckerberg has his sights set on NFTs.

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Coinbase: from crypto to NFT via social networks

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

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

Sanchan Saxena, Vice President of Products and Ecosystem at Coinbase

Thus, like Facebook or Instagram, the platform will allow opportunities for bonding between users, underlining the importance of the community aspect. Through this prism we understand the importance of the social aspect of the metaverse, already underlined by Web3 giants like Decentraland or The Sandbox.

The sandbox: a metaverse characterized by diversity

However, let’s not forget the primary philosophy behind the creation of NFTs and, more generally, the philosophy that underpins them Creation of Bitcoin. In the face of libertarians, Meta’s approach can be borderline scary.

The Sandbox in its new partnership with Slipknot also emphasizes the importance of community and social space in his metaverse. Forget Paris Hilton’s glittering evenings in Decentraland and join the dark universe of the Knotverse, the metal band’s metaverse. At the crossroads of genres and spaces, The Sandbox affirms its desire for multiple interconnected terrains and a diverse culture within its virtual space.

“We are proud to welcome Slipknot and Knotfest as the first heavy music 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, with every Slipknot NFT not only in The Sandbox, but on any other compatible platform can be used. »

Sebastien Borget, CEO of The Sandbox

NFT and Metaverse meet in the Knotverse, Slipknot's virtual world in The Sandbox
“We are collaborating with Slipknot to create the KNOTVERSE! A unique meeting place for music culture in the Metaverse! »– Source: Twitter

For The Sandbox, the metaverse comes at a price

In its own way, the sandbox knows the price of its virtual world only too well. So, due to a first fundraiser by 93 millions of dollarsthe giant of the metaverse sets the table for 400 million dollars additionally. The sandbox could then continue to expand, increasing its capitalization to $4 billion.

The sandbox remains probably one of the most successful metaverses we know of on the blockchain. However, the project, which is still in its infancy, confirms that it remains difficult to define the contours of the metaverse as it will be.

Infinite Reality: $470 million for the Metaverse

The sandbox isn’t the only one that needs to break the bank to grow. So this week we were able to learn about the acquisition of ReKt Global, a big name in esports $470 million from Infinite Reality. This company offers services for infrastructures that want to enter the metaverse (development, smart contracts, content, authentication, etc.). It aims to become a leader in a metaverse at the crossroads of worlds. In this dynamic, e-sports and video games are essential. They allow Infinite Reality to expand its catalog of services by taking advantage of the development opportunities offered by ReKT Global.

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

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

Huyndai: Metamobility, the road of the future?

Hyundai is also investing in the Metaverse. In fact, this week the robotics and tech giant announced an NFT project: Meta Kongz, a collection limited to 30 NFTs. With a metamobility project, Hyundai aims to create a metaverse in which robotics is a way to transcend the physical boundaries of spaces. This conception of the metaverse, for example, already widens the gaps to the virtual world of Horizon World.

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

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

Robotics giant Hyundai launches into NFTs and the Metaverse
Hyundai shakes up the paths in the metaverse with the concept of metamobility.

Delimit, define and specify the metaverse 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 an opportunity to “broaden our perception of humanity, where we come from, where we are going, the throbbing and the 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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