The Metaverse and Mark Zuckerberg
In the metaverse, users inhabit their own virtual space and interact with each other through an online avatar. These avatars are able to move around freely and express themselves, and can even purchase and sell virtual property, as long as it has value. Unlike virtual currency, metaverse assets are not fungible, and are liable to crash when one user or party loses interest in the digital property.
The metaverse is still in its infancy, so there are risks. Cyber-crime is inevitable in any digital environment, and developers must take measures to protect users’ safety and security. Some users have even reported cases of sexual assault in the virtual space. Nonetheless, cyber civil rights groups must monitor the development of the metaverse to ensure its users’ safety.
In the metaverse, users can buy virtual land and play games to earn money. Decentraland, Axie Infinity, and SecondLive are popular examples of such games. The latter two use the Ethereum blockchain to support their virtual world. In the game, players can buy and sell a variety of products and services and can also participate in tournaments.
Metaverse is already attracting the interest of many tech companies, including Facebook Inc. CEO Mark Zuckerberg. Mark Zuckerberg’s social network, Facebook, has already rebranded itself as “Meta”. But Facebook isn’t the only tech giant with a stake in the metaverse. Although the metaverse can’t be owned by any company, the companies that participate will have a role in shaping its design and infrastructure.