Last week Facebook renamed it Meta and announced plans to start developing Metaverse, a completely new way to interact and navigate the web. Now, on the Metaverse stage, a giant multi-billion dollar company battles at the helm, making the future even more uncertain.

Whether we like it or not, large companies are likely to play an important role in the development and development of Metaverse. But will it suffer the same challenges that social media giants are facing today, or will decentralized platforms and services be in the spotlight?

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Build a digital walled garden
Last week at Facebook Connect, Meta founder and CEO Mark Zuckerberg announced plans to spend $ 10 billion this year alone to develop Metaverse, an ecosystem of interconnected digital interfaces, services and platforms that seamlessly blend into the real world.

But, as Facebook has demonstrated on numerous occasions – when it did not promise not to require a Facebook account to use Oculus products, for example – it will almost certainly try to impose strict control over how Metaverse is used and what is accessed. After all, ecosystem barriers are a common, proven way to force interaction and isolate competition.

Given that Zuckerberg himself described Metaverse as “the next generation of the Internet,” which will be used by hundreds of millions of users, it is unlikely that a large company of shareholders will not do everything behind the scenes to put Meta at the center of Metaverset.

Metaverse is an essential game that will surely offer new ways to create, communicate and surf the Internet.

Likewise, the recent publication of the Wall Street Journal’s damned “Facebook profiles” revealed that the social media platform was plagued by a number of issues and is working on some seriously questionable business practices – and began with a massive lawsuit. modification for preferential treatment of certain users. All of this is in stark contrast to Zuckerberg’s supposed resemblance to the Metaverse.

If the Metaverse was created in a Facebook photo, tell me.

These documents also show that Facebook is rapidly losing popularity among millennials – the generation most likely to interact with Metaverse technology.

Meta has already come under fire for her plans, and was recently labeled “cancer against democracy” by American politician Alexandria Ocasio-Cortez in a recent Twitter attack. This opinion seems to be the general consensus on Crypto Twitter, which has not responded positively to the news.

The game is fake and not in your best interest. Meta wants to own your digital identity, and given its path, it will be able to access more of your data than ever before. No thanks!

blockchain catapult
It is expected that blockchain will become one of the key technologies that will create a truly comprehensive and safe to navigate virtual space such as the Internet, Web 2.0.

With blockchain-based digital identity solutions that will manage truly immutable digital avatars, along with digital assets that provide unrestricted access to services and products across the region, Metaverse seems to inherit the values ​​on which the blockchain industry was founded. that is, without permission. , resistance to censorship, security and decentralization.

Related Topics: Regulators Come for Encryption: Is Digital Identity The Answer?

However, tech companies will ultimately seek to tap into the blockchain infrastructure to guide and shape the development of Metaverse in their own image. After all, with the Metaverse industry going to grow at an average annual growth rate of 13.1% over the next few years, while the blockchain tech sector is expected to grow 32.4% through at least 2025. , there is a strong economic incentive to create an early foothold.

Twitter will be one of the first to step into the game with Bluesky, a decentralized social media protocol that will eventually be used to host a range of social media platforms, including Twitter. But since Twitter has also generated more than its fair share of controversy, including questionable account locks, high-profile hijackings, and numerous government censorship reports, it’s unclear if that will support the aforementioned core principles.

Source: CoinTelegraph