Metaverse Crossover: Is It Possible?

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The metaverse has grown over the past year and gained a lot of global attention from the crypto community. Similarly, big institutions such as Facebook are now in on it and are working on launching metaverses of their own. Facebook even went ahead and changed its name to “Meta“. According to Facebook’s founder, Mark Zuckerberg, the company wants to transform the metaverse into a social platform. At the moment, the metaverse has set roots in the gaming sector, with games such as Axie Infinity leading in the revolution. These games have brought about in-game asset ownership, play-to-earn, and various ways of making money on their platforms. GameFi, the merge of gaming and decentralized finance, has also brought about virtual reality and highly detailed graphic experiences, enforcing the idea of the metaverse. What Does the Metaverse Entail? The metaverse is a 3D virtual reality space that allows users to own and sell land, travel, meet friends, and work. Notably, the three dominant elements of the metaverse are avatars, VR interface and digital interface. All these factors bring about the idea of “presence”, being entirely immersed in this space. Most analysts have stated that the metaverse market will grow to $800 billion in the next two years. Furthermore, they expect top tech companies such as Google, Meta, and Microsoft to make considerable investments to see the metaverse become a reality. The Possibility of Metaverse Crossover? The metaverse promises to transform the way people interact by allowing them to connect and collaborate more seamlessly. Furthermore, it wants to bring a fully interoperable virtual world that allows freedom of movement from one metaverse to another. We already have a wide variety of components in a metaverse. Some of these include virtual shopping, casinos, and concerts. However, there still isn’t a way to seamlessly move across these spaces. When developers built the first-ever websites, they were a “walled garden” of the internet. The content and experience were limited to an enclosed environment. Over time, these walls are progressively coming down and diverging into mobile applications, streaming services, games, and more. When Bitcoin came about in 2011, users gained freedom in its decentralized and digital nature. The gaming industry is one of the earliest to work on bringing about the concept of cross-platform interoperability. However, the idea is still a work in progress. So far, multiplayer spaces are live, synchronous, and less persistent. Beyond gaming, this presents an actual chance of creating a “real world” through the metaverse. Connections and digital reality will be the new ground for real human experiences. Furthermore, this could mean that the metaverse becomes more interactive, accessible and experienced in many different ways. However, this is very far from reality, and it could take some time to create. The Challenge Behind Metaverse Crossover At the moment, many technology firms are trying to create and launch metaverse crossover. With the amount of time and weight they are putting into making a reality, we can say that the developments are worth looking out for in the future as they could be the next biggest thing in the blockchain and technology in general. However, there are still a lot of caveats to the launch. First, developers and platforms will need to start thinking about how they can share data and intellectual property. This way, they can create more secure and commercially viable environments. When this comes into play, it may take time for all metaverses to reach an agreement and participate. Furthermore, there is still the question of how to render an asset across various hardware configurations. Next, there is the issue of data speed inequality across different environments based on the metaverse. There has to be a way to work around this and solve it for seamless movement from one metaverse to another for true interoperability. Another thing is that new ethical questions must come into play about creating digital spaces. It will allow developers to address the various issues related to equality, diversity, and inclusion. Unfortunately, it’s still not yet possible to implement a Minimum Viable Product. It will take some time to resolve the various legal and policy issues. New standards and protocols will also be needed to bridge the various islands of the internet. It will require a collective effort to solve the digital identity issue. Meta Working for Seamless Movement Despite its stated intention to create a metaverse platform, Meta does not intend to create a Facebook-only one. Instead, it will focus on developing tools and services that attract creators and developers. Zuckerberg emphasized building open standards and interoperability in the metaverse in his statement. The move could lower barriers between different metaverses. He also criticized the high fees that tech companies charge. He added that these are the reasons for stifled innovation and the economy. According to Soundscape … Continued

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Time Stamp: April 21, 2022