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Ethereum is metaverse infrastructure

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Ethereum is metaverse infrastructure

And ETH is metaverse money!

William M. Peaster
Nov 2, 2021
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Ethereum is metaverse infrastructure

metaversal.banklesshq.com

Metaversal is a Bankless newsletter for weekly level-ups on NFTs, virtual worlds, & collectibles


Dear Bankless Nation,

Facebook, Microsoft, Nike. 

The world’s biggest brands are pivoting to the metaverse. Yet these corporations are undoubtedly doing so just for that reason, their brands. 

We here are skeptical they’ll actually work for an open metaverse, like elements of the Ethereum community currently are. 

But these big brands should realize Ethereum is metaverse infrastructure and ETH is metaverse money. And that all roads lead through Ethereum if they want to balance their own business goals with the demands of an open metaverse. 

-WMP


🙏 Sponsor: Zerion—Your Gateway to the Metaverse✨


Ethereum: toward an open metaverse 

“The users are revolting against the feudal lords of the internet,” Ryan Sean Adams noted of crypto earlier today.

Throw DeFi, NFTs, L2s, and DAOs in the mix, and it’s clear we’re revolting against the feudal lords of coordination, culture, finance, and more, too. 

These new possibilities are starting to bring in serious mainstream attention just as Ethereum is spearheading the way into the modular blockchain era, making it positioned to support widespread mainstream adoption of the cryptoeconomy’s open gardens going forward. 

Zooming out, these realities are also coming to the fore as humanity is racing toward the metaverse for new virtual frontiers for play and work. 

Of course, it seems we’re still in Act 1 Scene 1 of this wider metaversal migration. At this point what most call the metaverse for the sake of simplicity is really many disparate virtual worlds and metagalaxies. 

Twitter avatar for @WPeaster
William M. Peaster 🦇🔊🦃 @WPeaster
My thesis: Ethereum (L2s, DeFi, NFTs, etc.) is the socio-economic infra that will best connect metagalaxies into an open metaverse over time
Twitter avatar for @WPeaster
William M. Peaster 🦇🔊🦃 @WPeaster
🌍 Virtual world = single VR space (e.g. Fortnite) 🌠 Metagalaxy = an interconnected group of VR worlds (e.g. Cryptovoxels, Decentraland, Somnium Space, Webaverse) 🌌 Metaverse = the universe of metagalaxies, one day with browsers/UI capable for easily surfing it to and fro
10:43 PM ∙ Oct 29, 2021
22Likes2Retweets

Many of us here fear that Facebook’s or Microsoft’s “metaverse” will really just be a closed garden VR world. A world that wouldn’t afford users the same freedoms and guarantees that their open metaverse alternatives do and will. Another siloed enterprise arena for a big brand to pen their users in and take advantage of them. 

All that said, I consider Ethereum to be the best infrastructure we currently have to connect metagalaxies into an open metaverse over time. 

With ETH, we have a native metaverse money in the making. With new Ethereum L2 advancements around things like validiums and volitions, supporting billions of users is coming. And with DeFi and NFTs, we have credibly neutral infrastructure for connecting metagalaxies with a common, interoperable railing for culture and economies. 

That ETH is metaverse money and Ethereum is metaverse infra is not about financializing every nook and cranny of the metaverse. Rather, it’s about supporting the open metaverse with the possibility of cultural and economic exchanges that aren’t dominated from start to finish by corporations and states. 

Twitter avatar for @dankvr
jin @dankvr
.@neos_vr had to remove all token functionality from builds distributed on Steam because of Valve's new rules on crypto. App stores are like armed checkpoints and toll booths, doesn't matter how benevolent the leader of the store is web is the only guarantee of fair distribution.
Image
4:00 PM ∙ Nov 2, 2021
26Likes7Retweets

It’ll take all kinds of folks to build the open metaverse. And the open metaverse is for all kinds of folks. And because Ethereum, DeFi, and NFTs foster arbitrary programmability, these technologies will support all sorts of metaversal communities and projects in the years ahead. That’s the big idea, i.e. metaversal freedom.

We’ve much more work to do and need to ally ourselves with experts in other related fields of interest, like WebXR. Yet if we can do these things, we can ensure that the open metaverse is our future, not a corporate-dominated Metaverse Inc. 

Twitter avatar for @webaverse
Webaverse @webaverse
come check out our 100% open source #web3 #WebXR #webgl #Metaverse engine on the web built with 100% open source ingredients... github.com/webaverse join our discord and say hi! we'll guide you!
Twitter avatar for @webmixedreality
Avaer Kazmer @webmixedreality
If you’ve based your #metaverse on Unity, Unreal, PlayCanvas, or similar… What will you do when decisions about your world are made by upstream corporations looking to monetize their engine? It’ll be sooner than you think.
7:55 AM ∙ Oct 31, 2021
27Likes7Retweets

Action steps

  • ⚔️ Read Metaversal Barbarians at the Gate by Metaversal

  • 🔶 Read Ultra Scalable Ethereum by Bankless


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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.


Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

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Ethereum is metaverse infrastructure

metaversal.banklesshq.com
2 Comments
Marcus von
Nov 2, 2021Liked by William M. Peaster

I want some metaverse money in my pocket.....

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tvlachak
Dec 4, 2021

You mentioned Facebook, Microsoft, and Nike. Don't forget about Adidas:

https://twitter.com/adidasoriginals/status/1466443459951271939

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