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The Battle For The Metaverse: Gaming, Brands And Crypto Communities

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From the community of blockchain developers and users, the path to a “single” metro appears to be paved with white papers, cryptography and a collection of monkeys which inspired the mainstream concept of private property. But these spaces, which promise digital freedom through decentralization, ran into a problem: it is the hunger for self-definition that drives the consumers necessary to sustain itself.

The word metaverse comes from a 1992 novel, and originally defined the singular for a “space of spaces”. Writer Neal Stephenson, who created the concept while writing Snow Crashdescribed as MMORPG style digital reality (like the video game World of warcraftsince 2004), habitable through VR headsets that allow you to see 3D avatars of those privileged to move between realities.

In the global crypto community, the word to recover especially during the pandemic, when The Sandbox adapted to the blockchain space and the proposal of Decentraland. Metaverse was one of the crypto topics in 2020, and with the big media and big companies being interested in this space, the concept was already in the social unconscious at the end of 2021, when Mark Zuckerberg (CEO of the former -Facebook) that his network was a social empire that would be called Targetin honor of the metric he would add to his digital ecosystem.

“Now they see us as a social media company, but in our DNA we are a company that builds technology that connects people; and the metaverse is our next frontierjust like social networking was when we started”, he recited with an air of reptilianness during his official announcement. Zuckerberg was talking about his own media, his own tools (like Oculus Quest 2, one of the most popular VR devices) and all regions are limited by their shareholders.

When he talked about Meta, he described all the technology involved in his company. Could it be, then, that the one metaverse will be the one to surpass the rest through marketing and RGB lights?

► Digital economies with classical problems

The idea of ​​the metaverse is in some respects related to the paradigm of the web call3which is assumed to exceed the common internet connection and defined by the individual virtual identityto be there digital goods with exchange valueand the need to interface with access with this space, which depends on transistors.

ideal of The construction of web3 is powered by cryptocurrencies, which proposes a parallel economic system, which is decentralized and not controlled by governments or companies, and is instead managed on the same basis on which the ancient barter systems were founded. Although, instead of chickens, in this case two users decide how and why or how much to exchange a digital asset. And instead of a fenced-in farm, these digital currencies “live” inside a network of blocks that encrypts them and ensures that they have a code that defines their ownership.

That is one of the wonders of crypto: if it is not through social engineering (as in the case of Generación Zoe, the pyramid scam in which “crypto” was sold without this technology behind it), it would take a lot of effort to break security protocols.

But one of the main problems of the crypto economy is, ironically, the same as the traditional market: what if, suddenly, no one cared, if there was no demand? Fortunately there is the magic of marketing and the need to make a mark on the future.

► Nothing sells better than a video game

Gaming experiences have always been a great space to foster parallel economies. Its success is determined by the community: once there is no interest in the experience, it makes no sense to update the space.

But free-to-play developments, for example FortnitePUBG: Battlegrounds Y Roblox They know how to grow your spaces through alliances with music artists, influencers and fashion brands. Technology conglomerates such as Tencent (the main investor of Epic Games) have succeeded in creating meta projects that discourage brands from creating their own, and invite them to move within it. a reality that already has a huge amount of avatars with picks and shovels.

Within it Fortnite the festival has a digital experience Coachellamusical themes of Ariana Grandemarshmello Y Travis Scott. I Roblox (which shares almost half of its shares with Tencent affiliates) used to be a stage for shows David Guetta Y Lil Nas X. the South Korean band BLACKPINK He released his latest album in PUBG Mobile. Y Justin Bieber preparing for her recital garena free fire, at the end of August.

This hunger for cyberspace was cemented in the mainstream when a a new category of the 2022 MTV Video Music Awardswhich seeks to give him a special award for “Best Metaverse Performance”.

However, not everyone is taking advantage of the highly populated gaming spaces. The experience of The Sandbox has reinvented itself as a game compatible with blockchain systems when he realized that his franchise, created in 2012 with the proposition that every player could build a world of pixel art, excellent for NFT propagation (which for the purposes of these games are unique digital items that cannot be cloned or counterfeited and are owned by the player).

The Sandbox managed alliances with companies such as Autograph (committed to communicating the fame of various celebrities) to create unique spaces that can only be accessed by ticket. But not all experiences are restrictive either: even athlete Tony Hawk started managing his own skate park open to those who join the ecosystem.

► Hungry entrepreneurs

At the beginning of the year, the banking multinational JP Morgan was interested Decentralanda platform of Argentine origin whose 3D world is a great space to buy digital lands and store all kinds of NFTDecentraland it is encrypted in the Ethereum blockchain, one of the most popular networks in the world, and its financial dynamics depends on the oldest social interaction in the world: the interest to find and participate.

Many tech companies intend to be a key matrix to take advantage of the FOMO generated by the word metaverse, even if its definition is not yet generalized. Globant is one of the most important companies at the national level in the development of software and technology to third parties (such as Google, Santander or Electronic Arts). In one of his Sentinel Reporthe took the opportunity to reveal the circumstances of the meteor and showed how brands approach the concept and hunger to consolidate it digitally.

This survey was conducted under the name Metaverse 2022 Survey, in which 834 people from its database of technology professionals based in one of the 18 countries where the company has a presence participated. From that sampling of experts, only 26% declared that they had “experienced the metaverse”, while 69% are convinced that it “plays a vital role in remote work”.

Diego Tartara, Globant’s Chief Technology Officer, considered: “Although it is in its early stages, the metaverse is challenging organizations to prepare their businesses for this new world.” While this new paradigm offers substances to define, the Sentinel Report’s statistics show a double whammy, even among technology specialists: there is a real need to live within the metaverse, although it is not very clear what the concrete experience of that world is.

► The battle for the metaverse

The metrics – or different sections of the metric that each game or company recommends – are in line with the uncertainty created by the digital space needs to be put in a lot, but through restrictive methods. It is very strange to even think about an impartial space at the global level, when the United Nations reports reveal that half the world does not have stable internet access (and even, for any kind of technology).

But correcting these kinds of barriers to access, even pop culture destroys the possibility of a single interconnected metro, since when one user chooses to watch their favorite kpop band, another wants to invest in NFT for their own skate park. The interfaces are different, the paradigms are completely different and the digital definition will depend on the ability of business conglomerates to overhaul their proposals.