If you want peace, prepare for war – the metaverse, virtual social space, pendant to the real world, constantly attracting new followers. Evidence of the economic potential of these emerging virtual spaces then sparked the enthusiasm of web giants 2. Although cryptocurrencies and NFT experienced bitter defeat, being redder, the metaverse emerged victorious. Reinforced by a McKinsey report predicting the amount of $5 trillion by 2030, the metaverse works well. Therefore, some web 2 companies like Microsoft or even Meta monopolize the metaverse. Others, born with blockchain, continue to shape this virtual world by offering another way to conceptualizing reality. Sandbox and Decentraland can be considered their figureheads. In this war that has just begun, some have won more than others: this is the case of Meta.
In the cryptocurrency war Meta is laying arms…
Meta, ago Facebook, has never hidden his desire for the web 3. Use of NFT in instagram or soon FacebookThe social media giant is also developing its metaverse: HorizonWorld. However, in this war marked by many victories, Meta abandoned its Novi cryptocurrency wallet project.
The adventures of the company, led by Mark Zuckerberg, with cryptocurrencies so close to this closure as a failure. The failure to set up the stablecoin Librathe name has been changed per diem, climb to the top. This token is intended to be the native cryptocurrency of the Meta ecosystem.
However, with his conquest of the web 3 and his desire to take advantage of the economy that comes with it, Mark Zuckerberg announced in June that Facebook Pay became Meta Pay, marking a further step towards a digital economy that would allow exchanges in the metaverse.
“Going forward, there will be all kinds of digital things you can do or buy digital clothing, art, video, music, experiences, virtual events, etc. Proof of ownership is important , especially if you want to take some of these things with you to different departments. In fact, you should be able to log into any metaverse experience and what you bought should be there. There is a It’s a long way to get there. However, this kind of interoperability will provide better experiences for people and more opportunities for creators.”
Mark Zuckerberg – Source: Facebook
… to further dominate the metaverse market
the So the metaverse is the roots of war for the Meta who registers as a brave conqueror rich with his VR headsets. The company immediately seized 90% of the market. IDC, the world’s leading technology market intelligence provider, is armed with global, regional and local expertise, explains this result. In fact, according to a recent report by the company, Meta will dominate a key territory in the metaverse, that of VR headsets:
“Meta increased its share, capturing 90% of the market, with Quest 2 remaining the most popular and Meta continuing to offer more exclusive content while supporting hardware. Meta was followed by Pico, ByteDance, with a 4.5% share. »
The performance of Quest 2 VR headset thus lined. However, the expectations of users in the face of the harsh reality of this helmet cause some disappointments. Large, unattractive, this helmet provides access to a universe where everything remains to be done in terms of realism.
Will Meta’s metaverse disappear?
In this metaverse cost $10 billion and who did big loss to start 2022the IDC emphasizes that the strategic choice of Meta not the most relevant. Jitesh Ubrani, research director of IDC’s mobility and consumer device tracking service, expressed the challenges that the social media giant may face in the future:
“Meta is still pouring dollars into the development of the metaverse. However, the strategy to promote cheap equipment at the cost of profit will not survive in the long term (…). The good news is that Meta’s upcoming productivity-focused headset will serve as a starting point for the company to pivot to higher revenue-generating hardware.. »
In this battle where the helmet seems to have an important place, the Meta remains permanent despite some losses. Tired of searching for the 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 blockchain as Decentraland or The Sandbox.
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The Sandbox: a metaverse born with blockchain
From the beginning, a The difference is striking between the two metaverses. While one offers a mirrored metaverse of reality, the other offers a pixelated world where everything is possible. Hosted by ethereum blockchain, the metaverse of The Sandbox, cut in plots, is also strong with many owners of different renown such as Carrefour, Slipknot, Jamiroquai or even the Smurfs and Dinovox. So everyone offered his universe to his land.
Built on pixels, this metaverse then offers many interconnected universes. The NFT Voxedit editor also allows anyone 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 struggling to adapt to cryptocurrenciesa revolutionary web 3 phenomenon, Sandbox prides itself on a robust ecosystem. his cryptocurrency SAND no need to be ashamed of its results in this dark time.
Installed on the Ethereum blockchain, the pixelated metaverse nevertheless faces difficulties. Transactions are sometimes slow and ether transaction fee (gas charge) sometimes very high. But notice that they have reached their record low this week.
Brought to you by the sound of Sebastien Borgetfounder of the metaverse, Sandbox announces deployment of its lands on Polygon (MATIC). Metaverse users who are trying to move to the blockchain polygon receive mSAND rewards. mSAND is the SAND equivalent of the polygon blockchain. the layer 2 thus avoiding Ethereum fees through bridges (called bridge) gateways to transfer cryptocurrencies from one blockchain to another. Users avoid a congested network and sometimes very high fees.
This step improves and facilitates exchanges within the game metaverse. Polygon, carbon neutral blockchain, will immediately offer the possibility of staking lands and cryptocurrencies. Later it will be possible to trade NFTs on the blockchain.
This fight of David against Goliath seems to lead to different directions of conquest. One prefers augmented reality technology, the other prefers blockchain development open to all partnerships.
Still an embryonic metaverse
Other metaverses are born and offer possibilities that interest users as well. In this way Decentraland continues to grow and attracts an even more loyal community. Roblox or even Alt Space VR is also developing outside of the blockchain.
It should be considered that the metaverse market is growing. Let’s go back to the IDC report mentioned at the beginning of this article. The data highlights this juvenile state still. Also, if we compare to the first quarter of 2021sales of VR headsets used for the metaverse increased by 241% in the first quarter of 2022.
The Metaverse: A Desired 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 that arouses the curiosity of its fans:
“All eyes will be on Apple when it launches its first headset next year, and while it is tempting to imagine the company sending high volumes, let’s remember that this is the first headset that will first appeal to a small audience of early adopters and Apple fans (…) The subsequent iterations will likely show an evolution that grows by leaps and bounds. Meanwhile, companies like Meta and Sony have a strong installed base and pent-up demand that they can tap into. Overall, this is a strong driver to keep the market going. »
Microsoft or Sony are also making progress technologies borrowed from the web 3. The metaverse market is too young to determine who will win the game. It is clear that we have on our left Meta, vulnerable to the failure of its cryptocurrency and spending in front of a metaverse that does not bring it enough, and on our right The Sandbox, loved by many influential people and companies, born with the clothing 3. Some will then be trapped in the middle.
A new consortium however begins to draw fragments of a metaverse that is regulated, interconnected and meets the same standards for all. Like politicians trying to resolve a diplomatic crisis, everyone wants to meet at conferences. All of them, web 2 and web 3 giants (Sony, Huawei, ImmutableX..) then agree that the metaverse should be open to as many people as possible. To face this technological challenge, Meta and its partners seem to want to work together despite the absence of Google and Apple.
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