Motivation

Today, the metaverse is being understood as one digital universe in which everyone can participate. Currently, there are several projects on the market claiming to build the future metaverse. The key question revolves around who will create and oversee this metaverse of the future – a single company or multiple teams from different companies. Both options come with their own set of pros and cons.

In October 2021, Facebook made a significant announcement. They revealed their intention to change their name to Meta, signifying a shift towards creating what is known as the "metaverse." This metaverse aims to resemble the digital universe depicted in famous science fiction works like "Snow Crash" and its movie adaptation, "Ready Player One." While this announcement generated widespread enthusiasm, it also sparked concerns and criticism.

The primary concern revolves around the potential for Meta to wield considerable control and establish a monopoly within the gaming industry. However, the issue of a single company constructing the entire metaverse goes beyond centralization. It extends to the realm of aesthetics and design choices. In traditional gaming, individual preferences for the digital world vary significantly. Consequently, a solitary company may struggle to craft a universally appealing metaverse.

Furthermore, many regions lack robust internet bandwidth. This means that individuals with slower internet connections may experience lag when attempting to access and navigate the metaverse on their devices. A monopoly over the metaverse could also lead to inflated and inequitable asset prices.

This raises questions about whether people will willingly embrace a metaverse controlled by a large multinational corporation like Meta. Will individuals be content with a virtual realm where true ownership of assets is impossible? Can a singular design language and aesthetic truly cater to the diverse preferences of potential participants?

Building a single virtual world from the ground up is undoubtedly an exciting concept. However, our vision of the metaverse differs from that of Meta (formerly Facebook). While we believe that a "one-world metaverse" is possible in the future, we recognize that several critical milestones must be reached before such a metaverse can become a reality.

These significant milestones include but are not limited to:

1. True Asset Ownership: It's crucial for users to have genuine ownership of their digital assets.

2. Universal Digital Currency: The metaverse should operate on a unified digital currency.

3. Decentralization: Both the world itself and its governance should be decentralized.

4. Interoperable Infrastructure: Essential components like universal avatar creation, a world-building platform, a shared asset repository, and an underlying blockchain must seamlessly work together.

Many companies are currently pursuing their vision of the metaverse, but a closer examination reveals that these projects often lack the robust infrastructure necessary to support such a grand concept. While they incorporate features like NFTs and decentralization, they often resemble online games more than a comprehensive metaverse.

With multiple companies building various games and marketing them as metaverses, it raises the question: How does this differ from the traditional gaming industry, where multiple companies create different games? What will the ultimate form of the metaverse look like?

In line with our metaverse thesis, the final incarnation of the metaverse will be an intricate and decentralized infrastructure connecting hundreds of games and Web 3.0 applications. This infrastructure will empower users to own universal avatars and assets, enabling them to seamlessly navigate between diverse games and applications.

The future metaverse represents an interoperable fusion of numerous games, applications, and services. To realize this vision, most importantly, we must create a decentralized interoperable infrastructure that serves as the virtual identity and avatar for each user. By providing users with a superior metaverse experience, we believe we can compete effectively against the challenges posed by Meta and drive true adoption.