I’m not a guru or a market predictor. I am just a practical person that knows how to think. In the early 2000s there was a website called “broadcast.com”, this website was sold to yahoo for 100 million dollars. It was originally envisioned as the “TV Network Killer.” Now it is nowhere to be seen and instead we have twitch, netflix, and youtube – and all major brands out there have youtube.
So, what is the metaverse? You could argue we already have a metaverse now. I tend to think that Discord is the base layer of the 2022 metaverse. Why? Everyone uses it to hang out and chill with friends online or like-minded people in a niche. Wanna learn a new language? There’s a discord server for that. Wanna talk to people from your own country? Got a discord server for that. How about other people who play the same game as you? Discord’s got it – even for 20 year old MMORPGs that most people have forgotten about now. Another contributing factor: you can launch a ton of different websites or apps from discord, including steam games.
So, what am I saying? I feel like all of these companies and groups making “metaverse applications” could be potentially wasting their time. One of the biggest complaints people had about NFTs these past few years has been their carbon footprint. Well, when the eth 2.0 merge kicks in, I could see a few already existent games / apps integrating with Eth to allow people to bring in their NFTs. I expect the following:
1. A few games and applications saying, “Ok, we’re going to integrate with the Eth blockchain now, so people can bring in NFTs.”
2. Something like the ESRB (yes for games) being established for NFTs / Skins / Add-on game content. We don’t want people running around with pornographic NFTs in games. I could see presently existing games like Fortnite or Overwatch or World of Warcraft not allowing any pornographic NFTs to show up in their games at all. Just like we see programs like EZ Anticheat or Punkbuster, we’ll also see some programs meant to protect the community’s underage players from viewing inappropriate NFTs in game.
3. Some level of push back or another. After all network fees will be crazy during the next bull run.
4. Presently leading NFT projects (crypto punks, BAYC, FOMO Dog etc.) will survive and be hailed as digital gucci or digital luis vitton.
5. All these NFT collections you see today with “5 different traits” or “8 levels of rarity”, etc. I feel will be less influential in the future.
6. Touchy topic – Games will release certain items as NFTs. I feel like Ubisoft’s approach to **selling** NFTs was just wrong. **The approach to a game company giving NFTs to all of their users should be altruistic and similar to the way that reddit gave all users in /r/cryptocurrency and various other subreddits moons and RCP respectively – any cash value that these digital items have should be determined by the free market, and the game devs should not profit from it. This is also extremely similar to how bitcoin was created.**
Last but not least, NFT artists will still have their place, but I feel like they will try to specialize more on selling quantity as opposed to quality and we’ll see the market gravitate more towards 3D models than pixel art.