We are on the cusp of a new future. Web 3.0 and the mass adoption of blockchain technology is approaching at a rapid rate. In fact, we’re already at the doorway and taking our first steps inside.
It is at the very beginnings of mass adoption when the most important decisions are made. At this moment, we have the opportunity to decide on the fate of our Metaverse experience. Should it be an open Metaverse, or a closed one?
- An open Metaverse would be one controlled by the community that uses it, works in it, and lives in it.
- A closed Metaverse would be one that mines users’ data and implements that information to dictate their online experience
This decision is a crucial one, and one that boardrooms and online discussion spaces are discussing in great depth as you read this. On the one hand, corporate mindsets are desperate to control a closed product, as it means holding the right to influence the experience of navigating the Metaverse, and the financial benefits associated with it.
But future Metaverse users should be doing everything in their power to fight for an open experience — to be able to choose what they can access, how they are seen, and who can store their information..
A Dystopian Future
If the Metaverse were to be a closed, centralized product, the power held and wielded by the few controlling companies would be worrying. As Tim Sweeney, of Epic Games, said,
“If one central company gains control of this [the Metaverse], they will become more powerful than any government and be a god on Earth.”
The reason that controlling companies would be able to wield such power is due to the global interoperability of a blockchain-based ecosystem. This means they would be able to control access points, only allowing users interaction with dApps, games, web portals, and content that is beneficial to them. This would mean little or no cross-integration — one of the issues with Web 2.0.
Such a situation would completely eradicate the potential of what Web 3.0 promises. Instead of having free reign to express themselves and explore freely, users would experience an environment chained to the rails of corporate identity. Shackles would be placed on an individual’s ability to create and earn, as taxes would have to be paid to the Metaverse ‘owners,’ who would always be hungry to claim their share. Furthermore, anything which didn’t fit within the controlling corporations’ ethos would be summarily denied existence. Again, we already see this happening on Web 2.0 platforms; for example, the dictatorial algorithms on platforms like Instagram.
Dangers of a Closed Metaverse
- Governed by Big Tech with corporate mindsets
- No autonomous control over user data
- Stifles community innovation
- Reduced opportunity
- Less security through a lack of interoperability
The Freedom of the Metaverse
A fully open Metaverse has the potential to bring the entire human race into a new understanding of global interaction. By experiencing a truly decentralized Web 3.0, humanity will have the ability to innovate on a level never seen before. With blockchain-centric interoperability, we would be free and safe to earn from both work and play, with complete ownership over our online identities (called Self-Sovereign Identity), and the ability to implement communal governance systems via DAOs (Decentralized Autonomous Organizations).
In establishing Self-Sovereign Identity (SSI), Metaverse users can be safe in the knowledge that they have the autonomy over their online actions, appearance, and community.
In an open Metaverse, We can have confidence in knowing that we choose what and who we interact with online, and how. We can delight in exploring a world full of potential, to appreciate art, technology, finance, governance, politics, and gaming in an incredible new way. An open Metaverse is whatever we, the users, determine it to be.
Benefits of an Open Metaverse
- Encourages innovation and creativity
- Autonomy over digital security
- Self-Sovereign Identity
- Increased opportunity to earn
- Self-governed through DAOs
If you want to have a say in how the Metaverse is shaped, then now is the time to DYOR (Do Your Own Research). That means finding and getting involved in projects that will foundationally impact our future online experience.
Why not start by checking out Equinox Launchpad for inspiration?
About The Grow Group
The Grow Group is an ecosystem of visionary solutions designed to incubate blockchain entrepreneurs, elevate understanding of the blockchain space, and accelerate real-world value for positive impact. With a core focus on educational content, Grow offers teams the ability to tell their story with clarity, fostering intelligent investment choices and long-term holding.
The Grow Group benefits from a global team, with offices in Dubai, Philippines, and Sri Lanka.
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