The widespread adoption of the metaverse was never going to happen overnight. However, recent data indicate that acceptance of these new digital worlds is undoubtedly occurring worldwide and at an increasing rate year on year. This is evidenced by the nearly tenfold increase in metaverse users from the beginning of 2020 to late 2021, as well as recent estimates that one in every four people will be using the metaverse for at least an hour per day by 2026.
Given the increase in adoption, will these new online territories eventually turn into the digital nation-states that govern the virtual world?
In light of this, it is becoming more and more important to analyze some of the primary traits and potential developments of these emerging digital environments. The distinction between open and closed metaverses, property ownership and interoperability, and identity are some areas of particular concern. In the end, each of these elements will play a crucial role in the development of open metaverses, in particular as the “digital nation-states of the future.”
The Open metaverse VS Physical Nations
Metaverses are classified as either closed or open, similar to how nations are classified as autocratic or democratic. Furthermore, this is a potentially useful lens through which we can categorize this dichotomy. Closed metaverses are similar to autocratic states in that they centralize power with a single entity, not necessarily in that they disregard individual opinions. Open metaverses, on the other hand, can be compared to democracies because they are controlled by individual members, or users, and operate on a decentralized basis.
Built on blockchain technology, open metaverses ensure that metaverse domains not only have permissionless access. They also enable user data ownership, which is critical. Endorsing an open-source philosophy facilitates this, as it means that the entire community can contribute to platform growth, eventually making the platform independent of its creators. This is critical to ensuring that data is not extracted in an extractive manner, and it is a compelling reason for the widespread adoption of open rather than closed metaverses as we move toward the industry’s future.
Building on this, an open metaverse model not only allows for data ownership, but also for property ownership and interoperability within and between metaverses. This is due to the fact that in open metaverses, NFT standards grant existence to both objects and property rights for those objects via smart contracts. This means that if someone owns an object, such as a digital wearable, in one metaverse, they can take that ownership with them to other metaverses and wear it on their avatar there as well.
AR and vr Technologies Are Revolutionizing Metaverse
The Metaverse is the result of an interaction between AR and VR factors. A Metaverse ecosystem is expected to have the same sense of space and time as the real world. The bodily international is characterized by visible, auditory, and dynamic interactions.
To create scalable and correct virtual worlds, the metaverse also employs augmented and virtual reality (AR/VR) in conjunction with artificial intelligence and blockchain.
The metaverse is a virtual reality (VR) world that you enter by wearing VR goggles. It holds enormous promise for a wide range of industries, from purchasing to business and the workplace.
The metaverse is a vision of a 3D digital world in which actual and virtual worlds coexist through the use of technology such as virtual reality (VR) and augmented reality (AR) (AR). There are already many metaverses, such as digital gaming platforms like The Sandbox and virtual worlds like Decentraland.
OVER And the Open Metaverse
OVER is a decentralized metaverse platform that offers surreal augmented reality and virtual reality interactions.
Since its inception in 2020, OVER has become one of the most rapidly growing blockchain projects. It is a community-owned blockchain ecosystem that allows users to explore the metaverse and engage in VR and AR experiences using smart glasses or mobile devices.
It distinguishes itself from the competition by aiming to establish a new standard for augmented reality in the crypto ecosystem. To accomplish this, it has adopted an open-source model in which members of the community contribute to its growth, allowing it to be truly decentralized from its creators.
Finally, OVER employs NFTs to provide value to users while also acting as a link between the physical and digital worlds. Within its metaverse, OVER has already provided users with immersive activities and treasure hunts for NFTs.
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