The universe, digitally?
The Marvel Cinematic Universe is the result of various established worlds in an expansive space, created over the years by movies and TV shows. Thanks to this effort, Marvel content can appear in any era or time period, focusing on one character or an entire cast.
Now, imagine if the same was true of your work and social life. Where you can host a meeting in a virtual office the moment before meeting your friends on a space adventure just a minute later – all in the same universe. Sounds dreamy, right? A virtual universe of connected spaces? Such an idea has been mentioned since the early 90s, called the “Metaverse” by lovers.
The Rise and Fall of Second Life
In Second Life, players would create an avatar and just exist in a world. Spending money in the game, they could buy real estate, build houses, create social spaces, get tattoos, accessories, or interact with each other. Games, concert halls and villas were created while users hung out with each other. Any Lindens can be converted back into real money, paying of course a commission.
These creations could be compared to subsequent Marvel movies, each of which begins to suggest connections with a larger, shared world. The thing is, these movies could be in any era, focusing on whichever character they prefer.
Unfortunately, the platform wasn’t what it seemed, highlighting the potential dangers of an unchecked Metaverse. Linden Labs was eventually charged with fraud issues, not to mention the game’s lack of anti-money laundering policy. Something that didn’t end well.
Technology in the Metaverse
Barring mistakes, Second Life was revolutionary for that time. Since then, technology has advanced and can create a Metaverse more immersive than ever. Now, similar worlds exist in the realm of virtual reality. Players are still building new villas and game rooms, but through the lens of a headset rather than a computer screen.
Remember when Travis Scott did a huge gig at Fortnite? Millions of players watched this free event, following the huge artist as he returned to the game island. Users and their friends could fly around the island, watching a spectacular show embarrassing every live concert.
Of course, such an event exposed Scott to millions of extra looks. It certainly gained one or two fans, which definitely turns into more merchandise sales for the artist, among other advantages. On a smaller scale, for example, a virtual neighborhood, a local artist could advertise a free event in a nearby park.
However, the concept is still limited by a number of key factors: intermediaries and ownership. While projects like Second Life claim to be for players, every change has still had to go through Linden Labs. The company took care of every transaction and had the ultimate say in every case where it needed to be managed.
When it comes to property, the issue lies in intellectual property. If a user creates/buys a skin on Fortnite, they have every right to sell it, but they cannot. Moreover, what happens if Epic Games decides to close the game? Again, they have the last word on everything. Your assets are not really “yours” because of this possibility.
NFTs within the Metaverse
A blockchain is a decentralized digital ledger that tracks ownership and transactions on its network. Users interact with a blockchain through the relevant cryptocurrency – digital assets that represent value within the system. Neither party controls the blockchain, providing the power to its users.
Decentraland is a virtual world run by players and creators. The changes are voted on by the community, with a greater say given to those who invest the most. But what’s more interesting is Decentraland’s implementation of non-fungible tokens (NFTs) – a unique ownership version.
Essentially, if a user creates a popular shoe for Decentraland avatars, the artist is provided with a unique token representing that shoe. There is no other token like this and the owner can prove ownership of the asset by showing this token and obtain revenue as of his will.
How about ownership on the blockchain? Sandbox sells virtual properties through NFTs, a project supported by Gemini’s founders, the Winklevoss twins. Investors can buy properties within the Metaverse, offering a unique on-site experience as Snoop Dogg is already there!
Most of these worlds exist on the Ethereum blockchain, meaning they are interoperable. Imagine buying an accessory for your avatar in Decentraland, only to show it off at your personalized property in The Sandbox. The options are yours, and that’s extremely exciting.
Since 2020 saw the world confined to their homes, such a reality is more relevant than ever. For many, the escape comes in the form of the Metaverse through virtual reality.