How Many Metaverses Are There And Will It Matter In The Future?

Published by BingX Official at 2022-06-14

Centralised versus decentralised projects

While we cannot probably state that there are already thousands of different Metaverses , it is likely that at some point in the future, there will be. However, there are already hundreds of them without any doubt. These can be very small Metaverse places where only a couple of dozens of people will spend their time. But also, these can be huge market places and platforms where tens of millions of people will interact daily, whether for work or for pleasure.

Moreover, what is also unclear is the notion of centralised and decentralised Metaverses. While Metaverses that are being built by companies such as Meta, Microsoft or different gaming companies such as Epic Games or Activision Blizzard will be considered centralised, there are several cryptocurrency projects that will also build Metaverses, whose nature will be more decentralised. These are for instance projects such as Decentraland, The Sandbox, Axie Infinity or Somnium Space , but only according to popular price tracking website Coinmarketcap , there are at least 200+ projects like these.

For the future of this sector, the developments of each of these sub sectors will be important due to its inherent differences. While centralised Metaverses will have a huge advantage when it comes to almost endless funding possibilities and research and development resources, they will be also facing problems with regards to their credibility. Companies such as Meta, Microsoft or Google have struggled for some time with their security and problems concerning privacy, which can also appear again in their Metaverses.

On the other hand, decentralised Metaverse projects are bringing something new to this world through governance tokens or blockchain technology. While these are ideas that are vastly supported in the cryptocurrency world, the disadvantage of these projects is their size and capacities. Moreover, since most of them are extremely young, they will also need to establish themselves in this sphere.

From Metaverse games to Metaverses

The development of Metaverses as such will be also influenced by Metaverse games. These can also be divided into categories of centralised and decentralised Metaverses, based on which company, platform or DAO (decentralised autonomous organisation), has created it. Good example of a decentralised organisation Metaverse game is a popular Axie Infinity , while centralised games connected to Metaverse can be represented by notorious games such as Roblox or Fortnite. However, rather than dividing them through the lens of centralisation, a more interesting analysis can be offered when looking at how these games are perceived.

Popularity of Axie Infinity within the cryptocurrency world, as well as popularity of Roblox or Fortnite by mostly teenagers and kids is undeniable. All of these games have huge communities playing them and while they might have started as games, they are quickly turning into more than that. They offer not only a platform for playing, but also for communication, interaction and socialisation with like minded peers. In the case of Axie Infinity, these games can also provide rather interesting payment rewards which can, in some regions of the world, bring higher capital than monthly salaries.

These platforms, while launched as games, can become Metaverses by slowly transforming their purpose and creating a more 3D like entertainment for their user bases. Their user bases are also their main advantage, since many of these platforms have millions of daily players, who could swiftly shift into the Metaverse. Thus, a development of these companies, platforms and games needs to be closely followed, since many of them are well-placed to become leaders in the Metaverse.

Many different Metaverses to create The Metaverse?

While the question of how many Metaverses are there might sound appropriate now, in the future, this might be completely irrelevant. Many people argue that, just like the Internet, a network of vast amounts of different Metaverses can merge into one giant Metaverse. The Metaverse, that everyone will use and know. The Metaverse were centralised as well as decentralised projects will be somehow connected or bridged together to operate just like the Internet is operating now.

If someone asked you today, how many different Internets are there, the answer is very simple. One. The Internet that everyone is using daily, the Internet that everyone has access to. This 2D world that has become part of our lives can, and most probably will, evolve into a 3D world, which is exactly what The Metaverse could represent.

Thus, rather than looking at how many Metaverses are there, people might want to look at the overall, big picture, where a Metaverse by Meta will cooperate with a Metaverse by Decentraland or any other project. While it is unlikely that these two will want to cooperate, since both of them would want to capture the whole market, it is very possible that they will have to cooperate. Both of them will be in some form easy or free to access by anyone with the Internet connection and maybe some form of technological tool and gadgets such as 3D glasses.

Let’s put this whole idea into today’s world metaphor. Facebook is a social network created by Meta platforms (formerly known as Facebook) and is just one of billions of different websites that people can access through the Internet via their phone or computers. However, anyone can also access websites of Amazon, Apple, Binance, BingX and countless others, depending on what product or service they are looking for.

In the case of Metaverses, Meta platforms can create a Metaverse, let’s call it a Facebook Meta, which can be accessed thanks to The Metaverse via 3D glasses or different tools and gadgets that might have not been even developed. But anyone would also be able to use The Metaverse if they decided to use Metaverses of projects such as Samsung, Microsoft, Decentraland or The Sandbox, again only depending on the needs of the users. Thus, people will be exposed to The Metaverse through different Metaverses created by different platforms, companies, DAOs or individuals just like they are exposed to the Internet through different websites created by different platforms, companies, DAOs or individuals.

Conclusion

While the question of how many Metaverses are there can be interesting right now, in the future it can become irrelevant. With so many different companies trying to create their own Metaverse, it is very unlikely that only one Metaverse will be able to catch the attention of all the Metaverse users. Thus, it is possible that the idea of The Metaverse will be similar to the idea of the Internet. Anyone will be using different Metaverses that they see fit and appropriate for themselves, while everyone will be exposed to The Metaverse, the overall underlying technology and ideology of the 3D digital world that can be seen as a further development of the Internet.

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