What makes the Metaverse different from a Virtual World – 7 essential ingredients.
Our marketing professor once used an analogy with Second Life during a session
Second life is an online platform that allows people to create an avatar for themselves and have a well, second life in an online virtual world.
“Would you care to have an avatar of your own someday”, he asked us.
I have oft wondered why that really didn’t take off.
While we now hear much said about the metaverse, how does one define the term, and where does one draw a line between a metaverse and, say, just another virtual world?
a16z highlights 7 essential ingredients to what makes a metaverse vs other virtual platforms
Here is one of the 7 that I found the most interesting.
#Property rights – Do we own or rent items online today?
“Most successful video games today make money by selling in-game items, like “skins”, “emotes”, and other digital goods. But people who currently buy in-game items aren’t actually buying items – they’re renting them. As soon as anyone leaves for a different game — or the game in question unilaterally decides to shut down or switch up the rules — players lose access.
People have grown so accustomed to renting from the centralized services of web2 that the idea of actually owning things — digital objects you can sell, trade, or take elsewhere — often strikes people as odd.
But the digital world ought to obey the same logic as the physical world: when you buy something, you own it. It’s yours.”
True property rights have now been made possible with web 3.0
On that note, would you want to own a digital asset soon someday?
Here is the detailed list of the 7 : https://future.a16z.com/7-essential-ingredients-of-a-metaverse/
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