Coinbase just lists out their plan to enter Metaverse. Unlike, Meta (Facebook) which just throws Meta to you without any explanation, and its CEO just meta himself in the video to confuse everyone.
Here is a 1 min summary of the article if you want to skip the reading.
Facebook makes Metaverse about itself. They even change the name to Meta. It does not help to convince people of their view on Metaverse. Simply putting your virtual reality gaggle that your company invented and created the same virtual game to lure people into while continuing stealing other’s data and selling for profit is not about Metaverse. Facebook’s Metaverse lacks accountability, reliability, and vision. There is no concrete roadmap about the Metaverse they try to build but a promotion with blur view and CEO promotion using his own avatar to try to trick people into their database.
Coinbase took another route with a more specific roadmap. They create a pipeline to identify and ownership to payment with an earning potential to build a decentralized economy. They link everything together with their digital identity to the digital economy. They want to create a village with multiple apps link together: socialize, work, transact, play, and create.
Metaverse Is After Web3
Meta platform is more advance after Web3. It will connect every crypto product together. There are 3 worlds: virtual worlds, synchronous world, and scalable world.
The first world gives users identity and entitlements. They meant to give users a ground-rule to play and act in the virtual world. Identify will be verified by the wallet address. Entitlement likely will be provided through tokens or any voting mechanisms to help the world to develop consensus rules the communities will follow.
The second world is between objects, ownership, and payments. Similar to NFTs, users can create virtual features that link to their identity and entitlement while owning them and trading for currencies. #2 world is a marketplace that users can trade freely with each other.
The third world is for users to communicate with other users and with their history built to establish more reputation on the platform.
Each World Will Have Foundations
Protocol and blockchain will support first-world function with hardware and infrastructure built within. The second world will include tools and standards with real-world attestations to build more Dapps around the world. The third world will have a payment structure and voting frameworks built around.
Using Existing Development
Compared to Facebook which tries to build upon its own, Coinbase uses existing crypto and partnership with them to build a multi-verse together. The existing entities with their strength and further integrate into the Metaverse and provide a better solution to improve each other.
What is your view of the Metaverse? Do you like Facebook centralized Metaverse to ignore every but to build their own version of the world or Coinbase collaborate way to express the Metaverse in different aspects?
This article is also published in Cryptologist as parnership publication.
Photo by Fakurian Design on Unsplash
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Disclosure: The article was written by a delusional author who is possibly a nut job without any questions whatsoever about expertise in the subject matters. You should not believe any words this author wrote or you may experience similar symptoms or even possibly become a nut job.