💠Current Problems

4. LIMITED UTILITY AND FUNCTIONALITY OF DIGITAL ASSETS

Many of the early digital assets that were sold as NFTs (Non-Fungible Tokens) were reasonably “flat” items consisting of images, media clips, generative visuals and other non-utility based digital assets. As programs and collections progress, it will be necessary for creators to provide utility functions for these NFTs, such as access, exclusive content, usability in digital games, Metaverses and platforms, and other functionality that will create value for holders.

5. GOVERNANCE

Who should operate and govern the Metaverse? Ready Player One suggests a situation in which a single operator or group retains control of the digital environment. Other proponents believe that the Metaverse should be extensively decentralized, built upon community standards and protocols. It is likely that many Metaverses will be created with various governance models, similar to how countries and governments also govern their ecosystems in different ways, allowing the market to choose which Metaverses to align with.

6. AN ESCAPE VS. AN EXTENSION OF REALITY

Snow Crash and Ready Player One both describe dystopian worlds, in which the characters escape to the Metaverse. In these situations, the Metaverse is a necessity for quality of life, rather than a choice. Although many people utilize digital worlds as an escape, the proposal of the Metaverse as it is understood today is a compliment, not alternative to reality. Successful Metaverse solutions will seamlessly bridge analogue and digital, creating one continuous experience, which brings us to our next point.