Hello. Welcome (back) đ
This is a series of nicheletters simply explaining the basics of the Virtual Economy.
Metaverse - persistent, shared 3D virtual spaces in a virtual universe.
Photo by Drew Graham on Photo by Drew Graham on UnsplashUnsplash
Metaverse is a virtual world (made of many virtual worlds) where you can spend time, buy virtual stuff and make money. Itâs a bit like the next version of the internet enable by a faster internet connection, powerful graphic cards and tools for easy building. Add virtual reality headsets, clothes, walking simulators, and itâs really easy to make conclusions. There will be creators and consumers.
Creators and Consumers
These new worlds need to be built. Consumers want to buy houses, clothes, tools, experiences. (New) brands will want to be a part of the ecosystem. Many of the creators will become influencers. Just use the same logic as for the ârealâ world.
Markets
They could be closed. The worldâs creator owns the whole marketplace and the rights to sell. Users earn virtual money by achieving various things made by the creator. Or users can buy virtual money for real money.
They could be semi-closed. Creator owns the marketplace but users can create and sell stuff. Income is shared between creator and user-creators.
They could be open. User-creators can create and sell everything they want. They can build marketplaces, build and charge rent, etc.
Avatars
In a metaverse, you can be (almost) anybody. Thatâs one of the most attractive things from the social and economic perspective. Your avatar can possess qualities that are highly desirable by the current social norms. Even it might take time to achieve such a thing, you can create a new avatar if you feel so, and become somebody else.
Governing
This is rather new territory. The creator of a world within the metaverse could be a god and could be somebody building her or his stuff just as a passion. It could be both dictatorship or democracy.
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