Which Metaverses Should You Invest in Today? Is Decentraland Democratic and Meta a Socialist Metaverse?
Manage episode 324842360 series 2557320
Why should you invest in the metaverse? Which metaverses should you invest in today? Is Decentraland more democratic and Meta a socialist metaverse? How should you start educating yourself? Dave Carr, head of Business Development at Parcel, who also previously worked at Decentraland, one of the most popular metaverses, shares his knowledge.
What would you invest in today?
I love the idea of the metaverse, that it enables creators to do all sorts of fantastic things and own their creations as well, for musicians to not have to get their works through a platform that somebody else owns and takes the vast majority of their money from. For me, it's about virtual worlds that are enabling creators to get their work out there, but are also incentivizing users to come and use the space, and deriving benefits from that. If you look at it at a very specific level, the NFT's that have come out this year, all of the different avatars, the different projects have sold for an extraordinary amount of money. A lot of these NFT projects have just disappeared or gone very quiet, some of them have failed, the ones that survive are the ones that are able to create a really strong community around them, that have shown a very clear roadmap of where they are headed, and how the benefits will be rolled out to people who own it.
It's the same in terms of physical investments, you buy a piece of land in an area that is going to develop and be valuable to the people who move into that space. A golden rule is to avoid putting all of your eggs in one basket.
Is it be safe to assume that places like The Sandbox and Decentraland are more democratic and Meta would be a more socialist world?
In terms of control, you could say that Decentraland and The Sandbox are more democratic. That's a whole other discussion in terms of the governance structures of these open virtual worlds in the open metaverse because even the governance structure is still a test case if you like. But in terms of Meta, I'd be very surprised if they handed over control to the users, but I don't see that happening. Facebook, has been incredibly successful because you are the product and your data has been monetized. Some people are very happy with that, it's absolutely fine. It'll be a different experience to the decentralized worlds, I don't see it as a bad thing for Meta to be entering into this space because it educates people to what else is out there. The people can make the decision as to which experience they want to devote most of their time to.
Anybody could come up with the next Decentraland and they can all create these worlds, tell us why we should invest in these worlds?
Yes, anybody could come along and create a new Decentraland, and try to replicate this and potentially do it better. The benefit that Decentraland has is that it has the lead time it has been doing this longer. The Sandbox is not fully live yet, but it has been doing the backend development work, they will get it right when it launches, and be sure that it is working properly. Similar to Decentraland and other virtual worlds, they have the runs on the board, they have the brand partnerships in place, they have the content community familiar with it, they have the architects in their building, and they've been developing those people as well and supporting them. If things go according to plan then they will continue to be one of the more established worlds. They've made the mistakes that everybody is yet to make, there's a lot of benefit to be had in being first to market.