The company formerly known as Facebook is headlining crypto news again — and the Twitter apes aren’t impressed. Meta has unveiled plans for their VR game Horizon Worlds. But with a cut of up to 47.5% on in-app sales, critics are questioning whether this is an oversized “byte” of the pie.
Hopefully Nothing?
It’s more than Apple charges devs for in-app purchases, which Zuckerberg has gone on record saying he’d like to compete against. For more decentralized metaverses like The Sandbox and Decentraland, in-app fees can look more like 5% or less, plus any gas fees.
Of course, each platform has unique attributes, and elements like in-game NFTs and play-to-earn experiences all play a role in what a developer or user might potentially make or spend while building and playing… in any metaverse reality. So do your own research, and keep in mind that these estimates vary depending on the platform and each unique experience.
Define “Metaverse” for Me One More Time
The metaverse is a virtual network of spaces where creators, gamers, and AI can collab. Think of it as one big playground for users to build, socialize, and even earn crypto.
Extended Reality (XR) is a term coined to encompass all elements of virtual reality (first person, simulated environment) and augmented reality (first-person experience in combined real/virtual space) that we have witnessed over the years in gaming tech. You may become more familiar with this term as its used to describe several types of metaverse-related play.
For more on what the metaverse refers to and a few major crypto projects in the space, I’d like to direct you to a previous HackerNoon post, here.
Both Sides of the Coin
After Meta’s big rebrand in October, we’re starting to see them make very real moves into the metaverse with their new avatar-based app. Plenty of gamers are thrilled by the VR experiences Facebook’s Meta Quest (Oculus) products have to offer, looking forward to any novelty that accompanies the brand shift along with refreshing ways to use or expand on this tech. For many, it’s exciting to see what Meta is planning and to confirm that they are, in fact, working on something very tangible.
However, all this buzz doesn’t come without speculation and concern. The initial rebrand last October had the crypto community in feisty debate over Meta’s anticipated role in the space, and now conversations surrounding this rollout have turned up the volume.
The move has sparked discussion on what the future of VR tech will look like with big names — especially centralized ones with lots of money and, in this case, a controversial history around data and privacy — joining the space.
Etiquette and Expectations in Virtual Reality
Here’s a key line of questioning that I believe this all boils down to:
In a world where innovation is so expansive that almost anything can be dreamt up and implemented — a new landscape so vast that the goal is to create, inspire, and expand without traditional limitations — how are companies and users both expected to behave?
What are the rules…are there any? And is there a shared moral compass when navigating this creative expanse?
While the topic at hand hinges on money morals, the implications are more far-reaching. When we think about tech companies acting ethically, it brings to mind issues of privacy, inclusivity, and safety. This is what worries me most when conceiving of a gamescape where reality is intentionally blurred and identity can be as shadowy as a cipher.
At the same time, if we are to innovate and allow for unbridled imagination, there’s less of a rulebook for crypto than exists in traditional tech and e-commerce spheres. With greater decentralization comes increased opportunity for budding ingenuity, even though the space is a bit uncharted.
Maybe we’re betting on a new way of doing things — one that’s naturally incentivized to act on behalf of consumers’ best interests when the nucleus of authority is removed from the equation.
I would hope, of course, that most innovators and players in the space are aiming to incorporate both: a radical approach to creativity along with deep ethical decision-making, driven by the collective intellect. Time will tell — and it goes without saying that I’ll be keeping an eye on this space.
For further details on the recent move and my breakdown on how this impacts crypto communities across the board, you can check out this YouTube video on Books and Bitcoin.
https://www.youtube.com/watch?v=et3cWqtevoQ
Disclosure: This is not financial or investing advice. Do your own research before investing in any of the assets mentioned herein.