If one wants peace one must prepare for war – the metaverse, virtual social space, pendant to the real world, constantly attracts new followers. Evidence of the economic potential of these emerging virtual spaces subsequently sparked the enthusiasm of the web’s giants 2. Even if cryptocurrencies and NFT experiences bitter defeat, ever redder, the metaverse emerges victorious. Reinforced by a McKinsey report that predicts a value of $5 trillion by 2030, the metaverse is doing well. That’s why some web 2 companies like Microsoft or even Meta monopolize the metaverse. Others, born with the blockchain, continue to shape this virtual world through a different way of conceptualize reality. The Sandbox and Decentraland could be seen as their figureheads. In this just-started war, some are gaining the upper hand over others: this is the case with Meta.
In the cryptocurrency war, Meta lays down arms…
meta, formerly facebook, never hid his desire for web 3. Using NFT on instagram or soon facebookthe social media giant is also developing its metaverse: HorizonWorld. In this war, marked by many victories, Meta leaves the project of his Novi cryptocurrency wallet.
The adventures of the company, led by Mark Zuckerberg, with cryptocurrencies therefore close to this closure that looks like a fiasco. Failure to set up the stablecoin Librarenamed diem, rises to the surface. This token was intended to become the native cryptocurrency of the Meta ecosystem.
Nevertheless, in its conquest of web 3 and its desire to take advantage of the economy that accompanies it, Mark Zuckerberg announced in June that Facebook Pay became Meta Pay, another step towards a digital economy that enables exchanges in the metaverse.
“In the future there will be all kinds of digital items that you may want to make or buy, digital clothing, art, videos, music, experiences, virtual events and more. Proof of ownership is important, especially if you want to take some of these items with you to different departments. Ideally you should be able to log into any metaverse experience and whatever you bought should be there. There’s a long way to get there. However, this kind of interoperability will deliver much better experiences for people and more opportunities for creators.”
Mark Zuckerberg – Source: facebook
… to better dominate the metaverse market
the metaverse is therefore the nerve of war for Meta who registers as a brave conqueror rich in his VR headsets. The company then takes 90% of the market. IDC, the world’s leading technology market intelligence provider, armed with global, regional and local expertise, explains this result. Indeed, according to a recent report from the company, Meta is said to rule a significant area of the metaverse, that of VR headsets:
“Meta has increased its share and captured 90% of the market, with the Quest 2 continuing to be immensely popular and Meta continuing to offer more exclusive content while subsidizing hardware. Meta is followed by Pico, ByteDance, with a 4.5% share. »
The performance of Quest 2 VR headset are therefore underlined. However, the expectations of users in the face of the harsh reality of this helmet cause some disappointments. Bulky, unattractive, this helmet opens up a universe where everything still needs to be done in terms of realism.
Will Meta’s metaverse die out?
In this metaverse it costs $10 billion and who makes? significant losses early 2022the IDC emphasizes that the strategic choice of meta is not the most relevant. Jitesh Ubrani, director of research at IDC’s consumer device mobility and tracking service, articulates the challenges the social media giant may face in the future:
“Meta is still putting dollars into the development of the metaverse. Nevertheless, the strategy promoting cheap equipment at the expense of profitability is not feasible in the long run (…). The good news is that Meta’s upcoming productivity-focused headset will serve as a starting point for the company to switch to more revenue-generating hardware.. »
In this war where the helmet still seems to have an important place, Meta finally settles down despite some defeats. Tired of the search for optimal realism for its users, the design of the metaverse proposed by the king of social networks is the antithesis of the metaverses born with the blockchain as Decentralland or The sandpit.
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The Sandbox: a metaverse born with the blockchain
From the start, a difference is striking between the two metaverses. While one offers a mirror image of reality, the other offers a pixelated world where anything is possible. Hosted on the ethereal blockchain, the metaverse of The Sandbox, cut into lots, is also strong with many owners of different fame, such as Carrefour, Slipknot, Jamiroquai or even the Smurfs and Dinovox. Each therefore offers his universe on his land.
This metaverse is made up of pixels and then offers several interconnected universes. With the NFT Voxedit editor, anyone can also: create your universe or even your NFT which will evolve in the metaverse of The Sandbox.
The Sandbox, a metaverse to conquer the blockchain
While Meta difficulty adapting to cryptocurrenciesa revolutionary web 3 phenomenon, The Sandbox prides itself on a strong ecosystem. Hair cryptocurrency SAND need not be ashamed of its results in this dark period.
Installed on the Ethereum blockchain, however, the pixelated metaverse is experiencing issues. Transactions are sometimes slow and ether transaction costs (gas costs) sometimes very high. However, it will be noted that they record low this week.
Carried by the voice of Sebastien Borgetfounder of the metaverse, The Sandbox has announced its country’s bet on Polygon (MATIC). Metaverse users who will make the effort to move to the blockchain polygon will receive rewards in mSAND. mSAND is the equivalent of SAND on the Polygon blockchain. the layer 2 therefore avoids fees on Ethereum via bridges (called bridge) gateways to transfer cryptocurrencies from one blockchain to another. Users then avoid an overloaded network and sometimes excessively high rates.
This move improves and facilitates exchanges within the metaverse game. Polygon, carbon neutral blockchain, then offers the possibility to stake out land and cryptocurrencies. It will later become possible to sell NFTs on the blockchain.
So this battle of David against Goliath seems to follow different directions of conquest. One chooses augmented reality technology, the other prefers blockchain development that is open to all partnerships.
An still embryonic metaverse
Other metaverses are born and offer possibilities that also interest users. In this way Decentralland continues to grow and attract an increasingly loyal community. Roblox or even Alt Space VR are also developing outside the blockchain.
It must then be taken into account that the metaverse market is growing. Let’s go back to the IDC report mentioned at the beginning of this article. The data underscores this still youthful state. Also, if we compare it to the first quarter of 2021sales of VR headsets used for the metaverse increased 241% in the first quarter of 2022.
The Metaverse: a coveted war chest
Also, don’t forget that other giants are watching the metaverse. Apple despite its hatred of NFTs continues to develop its virtual helmet and arouse the curiosity of its fans:
“All eyes will be on Apple when it launches its first headset next year, and While it’s tempting to imagine the company shipping large volumes, we should keep in mind that this is the first headset that will appeal primarily to a small audience of early adopters and Apple fans (… ) Subsequent iterations are likely to show an evolution that will grow by leaps and bounds. Meanwhile, companies like Meta and Sony already have a strong installed base and pent-up demand to tap into. All in all, this is a powerful engine to drive the market forward. »
Microsoft or Sony are also in development technologies borrowed from web 3. The metaverse market is still too young to determine who will be the winner of the competition. Obviously on our left we have Meta, weakened by the failure of its cryptocurrency and spendthrift in the face of a metaverse that doesn’t bring it enough, and on our right The Sandbox, darling of many influential people and companies, born with it. web 3. The others then end up in the middle.
A recent consortium however, began to draw the fragments of a regulated metaverse, interconnected and conforming to the same standards for everyone. Like politicians trying to solve a diplomatic crisis, everyone wants to meet at conferences. They all agree that the metaverse should be open to as many people as possible. To meet this technological challenge, it seems that despite the absence of Google and Apple, Meta and his colleagues are looking to work together.
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