💫Current Problems

1. SMALL ADDRESSABLE MARKET AND ALIENATION OF NON-CRYPTO USERS

A number of today’s leading Metaverse solutions require self-custody wallets and some form of cryptocurrency to participate. This raises issues of accessibility, especially in reference to the masses as not everyone will have cryptocurrencies and a wallet to hold them. At the time of writing, there are approximately 420 million crypto holders, accounting for approximately 4.2% of the global population. Assuming that not all crypto holders are Metaverse participants, and that non-crypto users have been traditionally alienated from these environments, some of today’s Metaverses are underwhelming, fall short of critical mass, and face significant challenges onboarding non crypto users.

2. SINGLE DIGITAL FOOTPRINT PERVASIVE ACROSS MULTIPLE ENVIRONMENTS

The idea of a single digital footprint that persists across all platforms is appealing and has been proposed in popularized iterations of the Metaverse such as The Oasis. However, given the tendency for industry leaders to maintain their own identity systems (Apple, Google etc.), it is unlikely that a single avatar will be able to seamlessly move between all Metaverses. A user having multiple avatars may be preferential for the companies building Metaverse solutions, but also breaks the idea of a continuous digital experience.

3. DEGREE OF INTEROPERABILITY

How interoperable do Metaverse solutions have to be? Similar to the issue of a single digital footprint, the manner in which users and their belongings are able to move between worlds will impact user experience, as well as the value creators derive from their contributions. Moving digital assets, like a wearable, sword, or avatar will be important to utility NFT holders to maximize their ability to use digital assets across platforms.