The "GDP" Upside Of The "Metaverse"
We will use the archaic metric for the sake of this conversation.
The "Metaverse" or the digital world, even at the early stages, is going to provide huge economic upside. We are going to see the GDP of this realm at least double what is present from the physical economy.
In this video I discuss how things are changing and that, even though we are early, the lack of limitation in the digital realm means an enormous upside for growth. We are going to see rates that are not consistent what what we presently experience.
▶️ 3Speak
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With the rise of metaverse, I see the rise of NFTs as well.
I agree it's going to take time, and is it really a world that we want to live in? We are riding a fine line where it could go either way for sure. I think in our lifetimes, who knows, we may live to be 200 if technology keeps rolling the way it is, and as long as we strive for health more than riches, but I think that we aren't going to see the "Matrix" as the metaverse is being advertised. But I think maybe we could see an 'Inception' kind of thing going on for a while. I don't know, lol. I am just enjoying playing games and blogging for a living vs what I used to do, lol.
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BEER.I can see it happening but I think it will take like a decade before the mainstream people accept the use of them. Just looking at the gaming world, there is so much backlash when large AAA game studios try to add NFTs that I don't think we are close yet. Then again, these companies are just trying to earn a few extra bucks off the end user and they can see how bad things are.
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Summary:
In this video, the speaker discusses the potential of the metaverse, highlighting the technological challenges that need to be addressed before realizing its full potential. He mentions the progression towards extended reality, the role of blockchain, advancements in telecommunication systems like Starlink, and the impact of improved video platforms and image recognition software. The speaker emphasizes the vast economic possibilities of the digital world, anticipating a significant increase in GDP and the transformation of gaming into a profitable activity through concepts like play-to-earn. The discussion delves into the rapid growth potential of the digital world compared to the physical economy, underlining the significance of open data and permissionless databases, particularly in the context of blockchain technology.
Detailed Article:
The speaker begins by acknowledging the ongoing work and future advancements required to establish the foundation for the metaverse. Despite the current technological limitations hindering the immediate realization of the metaverse as advertised, the speaker anticipates iterations moving towards extended reality. Emphasizing the need for increased processing power in compact devices like glasses or headsets, he underscores the technological hurdles that must be resolved to achieve the full potential of the metaverse.
Furthermore, the speaker discusses the integral role of blockchain technology in shaping the digital realm, envisioning a significant economic impact with the potential to double or surpass the current GDP figures. By referencing projects like Epic Games' Fortnite, Decentraland, and Splinterlands, he illustrates how various initiatives, both blockchain-based and non-blockchain, are contributing to the evolution of interactive experiences on a large scale.
The video delves into the changing perception of gaming, noting the emergence of play-to-earn concepts that transform gaming into a profitable activity, potentially involving a billion users and various tokens/assets. This shift in perspective towards gaming reflects a broader trend where digital activities are increasingly viewed through an economic lens. The speaker contrasts the digital world's exponential growth potential with the slower scaling observed in traditional sectors like the electric vehicle market, highlighting the agility and amplified growth rates achievable in the digital space.
Moreover, the discussion extends to the convergence of the physical and digital worlds, with more aspects transitioning into digital formats. The speaker underscores the fundamental value of openness and data accessibility in the metaverse, anticipating a tug of war over data control. He expresses optimism about the potential of blockchain technology due to its permissionless databases, enabling widespread data utilization for diverse purposes. The video concludes by contemplating the enormous economic possibilities in the digital universe and the importance of establishing foundational components for its development.
Overall, the speaker provides a comprehensive analysis of the evolving landscape of the digital world, exploring its economic potential, technological challenges, and the transformative impact of blockchain technology in shaping the future of interactive experiences and data accessibility.