{"id":12102,"date":"2023-04-07T19:00:00","date_gmt":"2023-04-08T03:00:00","guid":{"rendered":"https:\/\/formtek.com\/blog\/?p=12102"},"modified":"2023-10-14T18:22:41","modified_gmt":"2023-10-15T02:22:41","slug":"the-open-metaverse-all-of-us-can-build-it","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/the-open-metaverse-all-of-us-can-build-it\/","title":{"rendered":"The Open Metaverse: All of Us Can Build It"},"content":{"rendered":"\n

A ‘metaverse’ is a virtual world that allows interaction and sharing of digital content and experiences with others. Users interact in the virtual metaspace with avatars or digital representations of themselves. The environment is persistent and can be entered and exited at will. <\/p>\n\n\n\n

Several large tech companies, like Meta\/Facebook, see the metaverse as the next major internet trend. Those companies are building the technology that will help realize the Metaverse as a commercial platform where they will be in control. Analysts at Citi <\/a>predict that the Metaverse will become a $13 trillion business by 2030.<\/p>\n\n\n\n

Many have a dystopian view and see big tech as grabbing control and defining the future of the Metaverse. With big tech in charge, the expectation is that like the current internet, the metaverse will be<\/a> “centralized, closed, proprietary, and extractive, with shareholder supremacy, elevated over user-centricity.  A state where giving away your time and data in return for \u2018free\u2019 access to platforms will be normalized.”<\/p>\n\n\n\n

As an alternative to a centralized big-tech creation, some are attempting to build an open platform for the metaverse. The Open Metaverse will be a set of protocols and standards that allow virtual worlds to interoperate. The goal is to enable inclusivity, to give users more control of their data and privacy, and to escape the control of tech giants.<\/p>\n\n\n\n

Nick Donarski<\/a>, CEO of ORE System, said that<\/a> “NFTs and blockchain lay the groundwork for digital ownership. Ownership of one’s real-world identity will carry over to the metaverse, and NFTs will be this vehicle.”<\/p>\n\n\n\n

Aaron McDonald<\/a>, the other Fluf World co-founder, told Fortune magazine<\/a> that “it would be erroneous to say that any one company or entity is building a metaverse. Saying Meta (aka Facebook) is building a metaverse is not the correct way to look at it. Meta is building an app, and the metaverse is the combination of many apps with this interoperable content that sits underneath it. If we are doing this the right way, we are all<\/em> building the metaverse.”<\/p>\n

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A ‘metaverse’ is a virtual world that allows interaction and sharing of digital content and experiences with others. Users interact in the virtual metaspace with avatars or digital representations of themselves. The environment is persistent and can be entered and…<\/span><\/p>\n

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