How does Coinbase view the metaverse?

Everyone is talking about the meta world today.

The first Yuan Universe platform sold virtual land for millions of dollars. Millions of dollars have also been invested in startups in the meta-universe. Mark Zuckerberg recently rebranded the entire company to reflect his goal of creating a global meta.

The word "meta universe" is not new. Author Neal Stephenson first used it in his new 1992 "Avalanche". However, with advancements in technology we are spending more and more time online and more and more people are starting to think about what's going to happen next and how the world is going. .

Recently our team hosted an internal talk on who is developing the metaverse and how encryption can help achieve it. I thought this presentation was going well, so I shared most of these slides.

Definition of the meta-universe

Our take on the Coinbase metaverse is heavily influenced by venture capitalist and author Matthew Ball (you can find his work here). Like Matt, we define the metaverse as:

The future of the Internet: a large-scale, stable, interconnected, interconnected and interconnected real-time world where people can communicate, work, interact and have fun.

Web1, the first version of the Internet, is accessible to static web pages. Web2 refers to knowing the relationships and insights associated with closing a closed ecosystem. And Web3 will be a digital partner in an open and impactful environment.

The meta world is far from Web3. In its fullest form, it would be a process of sharing and interacting in the virtual world with a well-functioning system that would allow people to do whatever they do in the real world.

The key is the different meta edge of gaming or virtual reality. It is also different from Web3 (the distant ancestor of the meta-world).

To explain this, we compare some concepts of the current platform and the meta-world.

Metaverse Points

It will take many years to complete the meta-world, but it will form the basis of the construction.

Like today on the Internet, the metaverse will depend on hardware and architecture, tools and designs, and business processes, many of which have yet to be finalized.

But unlike today on the Internet, there is not a single metaverse. There will be multiple meta-worlds and they will interact. This is why we must not believe it, that is to say that each meta-world can be directly touched without going through the intermediary. This means that anyone can participate without the approval of the board.

To do this, Metaverse will leverage the blockchain to change characters and members in the virtual world, identify themselves, and use payments that allow people to buy, sell, and earn money in the world. manufacturing industry.

Who created the meta world today?

We haven't been able to create anything close to the full meta-world, but we are experimenting with different terms in different companies and organizations. They can generally be divided into three groups.

The meta edge ecosystem is still in its infancy. occurs, but has not yet been defined. It is also its beauty. People pay a lot of money for this game usually because it is very rewarding.

personnel

Self-determination is who we are, what we can meet and do, and how we represent in many worlds of the metacosm.

In the meta world, we need to include easy access, an identifying symbol, an avatar to represent us, metadata that follows us, and recognition to prove who we are. The current location of this project is:

What is the role of Coinbase?

At Coinbase, we want to help our users share all of their personal information. It is important to note that it is designed to have personal portal access to the meta edge.

This concept working with ENS allows you to create a unique NFT username that can be identified with your wallet. Finally, it will allow users to carry credentials from other worlds into the meta-universe.

We are also developing technology that allows users to purchase their avatars, interpret and manage their public photos, and build trust. We are developing accessibility capabilities for all Metaverse applications, including access with [Eth / Coinbase].

Therefore

In the final analysis, it has nothing to do with expanding your business or making profitability. It's designed to be an integral part of the meta-universe ecosystem and help get crypto technologies on the right track.

We know that there is a meta-world, and we know that it will be an integral part of the virtual world. Our mission is to enable everyone to develop and enter the world in a simple, reliable and distributed way.

If we are successful, we can make the Metaverse reach its full potential and open it for free to all.