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 the Web 2 giants. Even if cryptocurrency and NFT experienced bitter defeat, ever red, emerges victorious in the metaverse. A value prediction reinforced by a McKinsey report $5 trillion by 2030, Metaverse is doing well. Therefore, some Web 2 companies like Microsoft or even Meta monopolize Metaverse. Others, born with blockchain, continue to shape this virtual world by offering another way Conceptualize reality. Sandbox and Decentraland can be considered their figureheads. In this battle that has just begun, some are gaining dominance over others: this is the case with Meta.
Cryptocurrency Gives Meta Weapons In War…
meta, in the past facebook, His desire for Web 3 has never been a secret. On NFT usage Instagram or soon FacebookThe social media giant is also building its Metaverse: Horizon World. However, in this war marked by many victories, Meta abandons its Novi cryptocurrency wallet project.
Company adventure, led Mark Zuckerberg, with cryptocurrencies so this closure looks like a leak Failed to set up stablecoin LibraThe name has been changed day, rising to the surface. This token was intended to become the native cryptocurrency of the meta ecosystem.
Nevertheless, in a desire to take advantage of the triumph of Web 3 and the accompanying economics, Mark Zuckerberg It was announced in June that Facebook Pay MetaPay is done, marking another step towards a digital economy that will allow exchanges in the metaverse.
“In the future, there will be all sorts of digital items to create or purchase, including digital apparel, art, video, music, experiences, virtual events and more. Proof of ownership will be 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 everything you purchased should be right there. There is a long way to go. However, such interoperability will provide a much better experience for people and more opportunities for developers. »
Mark Zuckerberg – Source: Facebook
… to dominate the Metaverse market
The The metaverse is therefore the synopsis of war for the meta Who registers as a valiant winner in his VR headset. The company then seizes 90% of the market. IDC, the world’s leading provider of technology market intelligence, is armed Global, regional and local competencies, This explains the results. In fact, according to a recent report from the company, Meta will rule over a significant area of the Metaverse, that of VR headsets:
“Meta has increased its share, capturing 90% of the market, Quest 2 remains extremely popular and continues to offer more exclusive content while subsidizing Meta hardware. Pico, ByteDance, follows Meta with a 4.5% share. »
its performance Quest 2 VR Headset is thus underlined. However, in the face of the harsh reality of this helmet, the expectations of users are somewhat disappointing. Heavy, attractive, this helmet offers access to a universe where everything is about realism.
Will Meta’s metaverse fizzle out?
That cost in this metaverse $10 billion And who makes it? Significant loss at the beginning of 2022IDC emphasizes that strategic choices meta Not the most relevant. Jitesh Ubrani, research director of mobility and consumer device tracking services at IDC, revealed the challenges the social media giant may face in the future:
“Meta is still pouring dollars into the development of Metaverse. Still, the trick Promoting low-cost equipment at the expense of profitability is not viable in the long run (…). The good news is that Mate’s upcoming productivity-focused headset will serve as a starting point for the company’s pivot to higher revenue-generating hardware.. »
In this battle where the helmet still seems to have an important place, the meta is enduring despite some defeats. Tired of searching for the best reality for its users, the design of the metaverse proposed by the king of social networks contrasts with the metaverse born with the blockchain e.g. Decentraland or Sandbox.
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The Sandbox: A Metaverse Born with Blockchain
From the beginning, a The difference between the two metaverses is striking. One offers a mirror metaverse of reality, the other a pixelated world where anything is possible. Host on The Ethereum Blockchain, the metaverse of the sandbox, cut to the plot, powerful even to owners of various reputations such as Carrefour, Slipknot, Jamirokai or even the Smurfs and DinoVox. Each therefore gives his universe to his land.
Made of pixels, this metaverse then offers several interconnected universes. Its NFT Voxedit editor also allows anyone Create your universe or even your NFT which will evolve into the metaverse of the sandbox.
Sandbox, a metaverse for blockchain to conquer
When meta Cryptocurrencies are struggling to copeA revolutionary web 3 phenomenon, Sandbox prides itself on a robust ecosystem. his Cryptocurrency Sand Don’t be ashamed of its results in these dark times.
Installed on the Ethereum blockchain, Pixeled Metaverse is facing difficulties though. Transactions are sometimes slow and Ether transaction fees (Gas fee) is sometimes very high. But it will be noticed that they have reached them Record low this week.
carries its voice Sebastien BourgetFounder of Metaverse, Sandbox has announced its land placement at Polygon (MATIC).. Metaverse users who will try to move to blockchain polygon Get rewards in mSAND. mSAND is the equivalent of SAND on the Polygon blockchain. The Level 2 So fees are avoided in Ethereum via the bridge (called the bridge) gateway to transfer cryptocurrencies from one blockchain to another. Users then avoid a congested network and sometimes very high fees.
This move improves and facilitates exchanges between Metaverse games. Polygonal, carbon neutral blockchain, will then offer the possibility of holding land and cryptocurrency. Later it will be possible to sell NFTs on the blockchain.
David’s fight against Goliath thus seems to take different directions of victory. One chooses augmented reality technology, the other prefers blockchain development that is open to all partnerships.
A still embryonic metaverse
Other metaverses are born and offer possibilities that interest users as well. In this way Decentraland continues to grow and attracts an increasingly loyal community. Roblox or even Alt Space VR is developing off of blockchain.
Then it must 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 underline this still juvenile status. Also, If we compare with the first quarter of 2021Sales of VR headsets used for Metaverse grew 241% in the first quarter of 2022.
The Metaverse: A Luscious War Chest
Also, don’t forget that other giants are watching over the Metaverse. Despite Apple’s hatred of NFTs His virtual helmet continued to develop, piqued the curiosity of his fans:
“All eyes will be on Apple next year when it launches its first headset While it’s tempting to imagine that the company is shipping high volumes, let’s remember that this is its first headset that will primarily appeal to a small audience of early adopters and Apple fans (…) subsequent iterations will likely show an evolution that will grow by leaps and bounds. Meanwhile companies like Meta and Sony already have a strong install base and pent-up demand that they can tap into. All in all, it is a powerful driver to drive the market forward. »
Microsoft or Sony are also developing TECHNOLOGIES BORROWED FROM THE WEB 3. The metaverse market is still too young to determine who will be the winner of the match. It is clear that on our left we have the Meta, weakened by the failure of its cryptocurrency and expensive in the face of a metaverse that cannot bring it enough, and on our right The Sandbox, the darling of many influential people and companies, with which was born Web 3. Others then By gravity in the middle.
A recent consortium But snippets are beginning to paint of a metaverse regulated, interconnected, and meeting the same standards for all. As politicians try to resolve the diplomatic crisis, everyone wants to meet at the conference. All of them, the web 2 and web 3 giants (Sony, Huawei, ImmutableX..) then agreed that the metaverse should be open to as many people as possible. To tackle this technological challenge, it seems Meta and its peers want to team up despite the absence of Google and Apple.
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