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Is Microsoft Taking Over the Metaverse?
It’s hard to imagine a virtual world that is more appealing to a decentralized fan base than the Metaverse. The decentralized nature of this online community has made it an ideal candidate for monetization and cultural adoption, and its recent pandemic has certainly helped with this. However, there are many concerns about centralized actors taking over the metaverse. While Meta has yet to respond to Insider’s request for comment, it’s not surprising to hear that some crypto fans are worried that a big tech company might dominate this space.
In fact, Sandbox, a subsidiary of Animoca, pivoted to the blockchain after being acquired by the rapper Snoop Dog. The company’s play-to-earn model was popularized by Crazy Kings mobile games, and the Crazy Kings franchise introduced the concept of playing for crypto tokens. During the past nine quarters, Sandbox has closed 24 metaverse VC deals, making it one of the most prolific players in the space.
For now, it is unclear exactly how these virtual worlds will work, but the developers are making a big deal out of it. Microsoft has announced plans to create its own metaverse for teams, with users of the company’s software and services able to visit these virtual spaces by 2022. Depending on how they do it, this could function as a hybrid of hardware and software, including data centers and blockchain technology. A successful metaverse will be the product of an ecosystem that allows individuals to build their own ecosystems.