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The Future of Web 3.0 and the Metaverse

The internet would be decentralized sans tech giants in the future of Web3. We could be looking at the rise of new social platforms, search engines, and marketplaces built and owned by the collective, rather than by a corporation. End users would reclaim their power and control over their own data.

The world is moving fast to Web3. The internet of assets:

  • From AWS to IPFS
  • From LLC to DAO
  • From Chrome to Brave
  • From your bank to Metamask
  • From centralized systems to decentralized blockchains
  • From Facebook to Steemit
  • From Eve Online to Star Atlas

How the metaverse future may look like in 2030?

The word “metaverse” is originally from the 1992 sci-fi novel “Snow Crash”. Recently Facebook brought the Metaverse to the mainstream by rebranding itself as “Meta”. The Metaverse is not yet a concrete reality, while the vision of it is a 3D immersive world where we will be spending a lot of time socializing, working, entertaining, learning, etc. It is the combination of virtual reality (VR), augmented reality (AR), mixed reality (MR), gaming, cryptocurrencies, social media and much more.

The future of metaverse also spans on an idea of running openly, almost without any interruption from a single community or company, as the participation of creators will be from across the world as more brands are looking to open their outlets on the broader metaverse just like on the internet of the current times.

As the metaverse concept is starting to incorporate Web3 technology enabled through blockchain technology, the future metaverse would be something very similar to our real world in many aspects and even replace some real-world activities.

Non-fungible token (NFT)?

Already some metaverse non-fungible token (NFT) vendors have enabled their NFTs to be usable in some metaverse games such as clothing and footwear and more are planning to venture into the domain.

An increasing number of NFT enthusiasts are also sensing opportunities to invest in virtual lands on such games and sell or rent them for a price. The future metaverse can also be a huge contributing factor to the growth of the virtual economy, which depends on video games and virtual worlds where disruptions are almost nil.

While Web 3.0 has been shaping up nicely with the exponential growth of NFTs, P2E games and DAOs recently, there is still a long way to the full development of the Metaverse and a lot more room to grow in terms of technology which will make the metaverse experience fully immersive.

What happens to privacy in the metaverse?

With hundreds of millions of virtual reality products expected to be in use in the next 5 years, experts believe it will not be unusual for people to spend 12 to 15 hours a day in the metaverse to communicate, work, learn, shop, capture data and more. It is also expected that people will have more than one avatar, or virtual persona, which may create a reality of billions of digital personas within a decade. But as usage explodes, what are the risks to privacy and identity security?

Regulators and governments will need to invest in wide-scale deployment and testing of the emerging technology ensure appropriate security and privacy protection. Appropriate data management in the metaverse will need to address, for example, the differences between traditional business or public data and confidential personal data.

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