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The only way to think of the ideal metaverse is through the building blocks laid by decentralized autonomous organizations, or DAOs.
The world is only just waking up to the transformative power of DAOs, which have made headlines for attempts to buy a copy of the US Constitution, crowdfund legal fees for Julian Assange, and lower the barriers to entry for real estate investing. In the decentralized finance movement, DAOs are now the norm rather than the exception, and now that they’re beginning to penetrate the mainstream.
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The race to the metaverse is on, featuring runners and riders including tech giants like Meta, Microsoft, and Epic, to blockchain old-schoolers like Decentraland and Somnium Space. The only problem is that it looks suspiciously like a repeat of the "format wars" we've seen play out time and time ...
The network effects of such a model would be unparalleled because the incentives are aligned.
Users will want their friends and family to join so they can also participate in the rewards and make the network a better place to hang out.
Thanks to the underlying blockchain infrastructur...
In the Web2 model, we don't own anything so we end up tied into platforms and services simply so we can benefit from the work we've put into them over the years.
Closing a social media account means losing followers, closing a streaming service means losing playlists and access to streaming...
"Having someone wonder where you are when you don't come home at night is a very old human need." — Margart Mead
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