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Internet Nations are ultimately at the mercy of Nation States, both exert top-down control and extract resources from their constituency in order to grow their domain. The metaverse on the other hand is a virtual world independent of Nation-States and Central Banks. The building of the metaverse is a bottom-up process driven by market forces. Big tech’s ability to de-platform individuals and censor speech has created structures that have become too rigid - smothering freedom and limiting expression. Outlier Ventures proposes that the ‘defining characteristic of a true Metaverse is that it needs its own economy and currencies native to it, where value can be earnt, spent, lent, borrowed or invested interchangeably in both a physical or virtual sense and most importantly without the need for a government.’ Users looking for increased transparency, fairness and open-source solutions could slowly but surely create a domino effect that will result in total Web 3 adoption. The metaverse is an opt-in nation, where the foundational Layer 1s have successfully separated money from state. There is no coercion from Bitcoin or Ethereum. However, there’s no point having a currency that’s decentralised, if your wallet or the exchange you trade on is controlled by a centralised intermediary. Enter DeFi - Decentralised Finance has proved successful on Ethereum - recreating the financial products/services found in our physical world, without an intermediary. But what if your decentralised exchanges, are hosted on centralised servers? These become centralised points of failure and those in power can easily intervene, control or shut down applications as they see fit. What happens when the servers go down? Enter Web 3. Web 3 servers can't go down – Filecoin, Siacoin, Storj are decentralised version of Amazon Web Services, the network is made up of many different computers run by many different people and organisations. 19PDF Image | Primer on Non-fungible Tokens NFTs
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NFT (Non Fungible Token): Buy our tech, design, development or system NFT and become part of our tech NFT network... More Info
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