Out With the Metaverse, In With the Multiverse
Out With the Metaverse, In With the Multiverse
By Joseph Djenandji, the CEO of Mint Blockchain
We are constantly fed innumerable articles on how the metaverse will fundamentally change how we live our lives and spend our time.
The truth is that these metaverse open worlds still garner very few users, and the closed systems that show user growth (e.g. Roblox, Minecraft) are built around games, which may limit their potential as spaces where people would want to “hang out.”
Technology has accelerated these changes as people spend more time in front of their screens and less around other people. Nevertheless, online communities started to form via chat systems. The major shift happened with the advent of social media, where groups of people sharing the same interest started to interact with each other. Here functionality is limited to what the platform allows you to do within its walled garden. Therefore, any hope of integrating external experiences is dictated by the platform.
The basic concept of possessing a digital token whose ownership can be validated publicly has the potential of rethinking the way we interact online by transferring the power from centralized platforms back to the groups and individuals themselves.
Through this technology, communities can be tokenized, which means community members can be issued a digital asset in the form of a non-fungible token (NFT) whose ownership can be validated by virtually anyone—therefore rendering the user database universally accessible. This fundamental shift in power from the platform to the participants is an exciting new development in how communities on the internet are developed: the multiverse.
Want to learn how can creators, brands and existing communities establish their presence on Web3 and take back control of their destinies?