Doc's Daily Commentary

Mind Of Mav

Facebook’s Metaverse Is A Nightmare

I’d take my headset off and be immediately confronted with the reality that none of it is reality.

So what does this mean for crypto?

According to the company announcement, Meta’s metaverse leverages augmented reality and virtual reality, alongside the possibility of integrating the use of non-fungible tokens (NFTs).

Based on the public information of Meta so far, here are the two key differences between Meta’s metaverse and blockchain-based metaverse:

1. Users do not seem to own their assets in Meta’s metaverse

Meta does not mention the use of blockchain technology in its metaverse. While Meta allows multiple content creators to build its metaverse, it does not state that creators will own their assets. The assets in the metaverse are likely under Meta’s control, which is different from decentralized metaverses such as the Sandbox and decentraland.

While Meta mentions the use of NFTs in its metaverse, the company does not reveal further details on how NFTs will be integrated into the ecosystem.

2. Meta’s metaverse is neither crypto-native nor interoperable

According to Meta’s announcement, the metaverse aims to enhance online social experiences in areas such as business, fitness and entertainment. John Carmack, the CTO of Meta’s VR headset company Oculus, believed that Meta’s metaverse should not be considered as a completely open crypto-friendly platform. This presents a stark difference compared to the blockchain-based metaverse, in which the latter focuses on digital asset property right protection and an open, interoperable virtual environment. NFTs are essential to fulfill the vision of a truly open metaverse.

Take the Sandbox as an example. The Sandbox allows players to share, play and display with their NFTs from other blockchain-based metaverses. For instance, users can display CryptoPunks and NBA Top Shot collectibles in the Sandbox. This shows that the Sandbox is a crypto-native metaverse and provides an interoperable environment for users to display their NFTs.

While Meta’s metaverse is likely a centralized one, metaverse-related tokens have benefitted from the announcement. For instance, the price of Decentraland’s MANA and the Sandbox’s SAND rose 47% and 23%, respectively. Meta’s announcement also indicates that metaverse begins to go mainstream, regardless of the degree of decentralization.

So, it’s still the early days of the Metaverse, but things are already getting interesting. More to come.

 
 
 
 
 

The ReadySetCrypto "Three Token Pillars" Community Portfolio (V3)

 

Add your vote to the V3 Portfolio (Phase 3) by clicking here.

View V3 Portfolio (Phase 2) by clicking here.

View V3 Portfolio (Phase 1) by clicking here.

Read the V3 Portfolio guide by clicking here.

What is the goal of this portfolio?

The “Three Token Pillars” portfolio is democratically proportioned between the Three Pillars of the Token Economy & Interchain:

CryptoCurreny – Security Tokens (STO) – Decentralized Finance (DeFi)

With this portfolio, we will identify and take advantage of the opportunities within the Three
Pillars of ReadySetCrypto. We aim to Capitalise on the collective knowledge and experience of the RSC
community & build model portfolios containing the premier companies and projects
in the industry and manage risk allocation suitable for as many people as
possible.

The Second Phase of the RSC Community Portfolio V3 was to give us a general idea of the weightings people desire in each of the three pillars and also member’s risk tolerance. The Third Phase of the RSC Community Portfolio V3 has us closing in on a finalized portfolio allocation before we consolidated onto the highest quality projects.

Our Current Allocation As Of Phase Three:

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The ReadySetCrypto "Top Ten Crypto" Community Portfolio (V4)

 

Add your vote to the V4 Portfolio by clicking here.

Read about building Crypto Portfolio Diversity by clicking here.

What is the goal of this portfolio? 

The “Top Ten Crypto” portfolio is a democratically proportioned portfolio balanced based on votes from members of the RSC community as to what they believe are the top 10 projects by potential.
 
This portfolio should be much more useful given the ever-changing market dynamics. In short, you rank the projects you believe deserve a spot in the top 10. It should represent a portfolio and rank that you believe will stand the test of time. Once we have a good cross-section, we can study and make an assessment as to where we see value and perhaps where some diamonds in the rough opportunities exist. In a perfect world, we will end up with a Pareto-style distribution that describes the largest value capture in the market.
 
To give an update on the position, each one listed in low to high relative risk:
 
SoV/money == BTC, DCR
Platforms == ETH, XTZ
Private Money == XMR / ZEC / ZEN
DeFi == MKR / SNX and stablecoins
 
It is the most realistic way for us to distill the entirety of what we have learned (and that includes the RSC community opinion). We have an array of articles that have gradually picked off one by one different projects, some of which end up being many thousands of words to come to this conclusion. It is not capitulation because we all remain in the market. It is simply a consolidation of quality. We seek the cream of the crop as the milk turns sour on aggregate.

Current Top 10 Rankings:

 

 

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