<div class="bbWrapper"><blockquote data-attributes="member: 66764" data-quote="AceVentures" data-source="post: 971507"
class="bbCodeBlock bbCodeBlock--expandable bbCodeBlock--quote js-expandWatch">
<div class="bbCodeBlock-title">
<a href="/community/goto/post?id=971507"
class="bbCodeBlock-sourceJump"
rel="nofollow"
data-xf-click="attribution"
data-content-selector="#post-971507">AceVentures said:</a>
</div>
<div class="bbCodeBlock-content">
<div class="bbCodeBlock-expandContent js-expandContent ">
Metaverse is a fancy word - confusing for many - abused by giga-corps to appease a younger crowd.<br />
<br />
Let's try to make it simpler - think of it as a digital realm. Twitter is a digital realm. Facebook, Instagram, Discord, Twitch, are all examples of digital realms.<br />
<br />
The hype you hear around the metaverse today is the hype around building <i>interoperable </i>digital realms. Blockchains, thanks to their transparent and permissionless design principles, serve as a great layer on-top of which applications can be built - because this would enable all of these apps to become interoperable with one another. In essence, they would be sharing the same database if you will. This opens up the door to a world of opportunities that was previously locked due to web2 design where each operator on the internet needed to secure their own database.<br />
<br />
For example, you couldn't take your Twitter profile, and all of your posts, and say, jump into Instagram and "retweet" one of your twitter posts into Instagram - because the data between them is not shared, but instead siloed in each giga-corps proprietary data servers.<br />
<br />
What's exciting about the metaverse is the ability for all participants to move more seamlessly across the web. You could, for example, have a smart-contract account, stored on a blockchain, and applications/games/socialmedia/etc. could simply fetch your smart-contract account from public ledgers, so you could, in practice, with ONE account access every web3 service. Not only is your profile now interoperable with other lego-pieces in the space, but your ASSETS also are interoperable. So let's say you bought a camera filter for your videos/photos, now you could take that same filter with you to different apps. The same is valid with any type of digital asset (photos, videos, programs, games and game assets, text and books, and any other digitized product you can think of).<br />
<br />
What "need" does the metaverse fill? Every need you and I have when we access the internet. You currently have dozens if not hundreds of "accounts", with your information, as well as your money, stored on random people's servers. When you buy something, it can't "come" with you anywhere. You could store your PDFs for example on a cloud-based storage solution, but again, you would be storing it on some company's servers and access them with the internet. And this type of storage solution would still need other applications to speak to this server's APIs to request information. But if the base-layer is transparent and permissionless, anybody could fetch, add, and build around this information. Don't worry, you don't have to make your life public, there are cryptographic solutions that can prove the authenticity of your content without revealing it to just anybody if you wish to preserve privacy.<br />
<br />
The possibilities are vast - these are simple examples I'm offering just to paint a picture.<br />
<br />
Now the 3D/VR part of the Metaverse is a more ambitious effort to transform your experience across these realms into a more immersive one. So instead of looking at a 2D screen to view content on the web, you could be "walking through" this content inside of an immersive VR/AR environment. Instead of browsing IG's page by scrolling through images/texts in 2D, you could for example be sitting with your VR headset rendering a galaxy in space, and you could be viewing IG in 3D for example, whereby you can interact with the same content but in a much more engaging way. Instead of going to a WellsFargo website, again in 2D, to do your banking, you could be walking inside of a 3D world, say a Minecraft or a Fortnight type of world, and find an "ATM" inside the game, which connects your smart-contract based profile/assets to DeFi protocols: from inside the game, you could do your banking, or walk up to another player in the game and "trade" with them, exchanging valuable assets/tokens with each other.<br />
<br />
However, this VR immersive experience is still a number of years out, primarily because of hardware constraints (headsets are still bulky, heavy, and not pleasant for extended use). The first iterations of the metaverse are web-based experiences still rendered on 2D screens - but the underlying data-access-points are interoperable. Take for instance something like SandBox, or CryptoVoxels, or Decentraland - they are 3D multiplayer environments that interface with blockchains on the backend.<br />
<br />
I hope you can begin to understand the value proposition of this interoperable world of digital realms.<br />
<br />
You can also reference this post I made in February on the topic of the Metaverse, the article linked is very detailed and is a great starting point to help you better understand the thesis.
</div>
<div class="bbCodeBlock-expandLink js-expandLink"><a role="button" tabindex="0">Click to expand...</a></div>
</div>
</blockquote>I've learned more from you than anyone else on this forum and also got in to Lukso at $6 because of you. Thanks for sharing your knowledge!</div>
