Coinbase just lists out their plan to enter Metaverse. Unlike, Meta (Facebook) which just throws Meta to you without any explanation, and its CEO just meta himself in the video to confuse everyone.
Here is a 1 min summary of the article if you want to skip the reading.
Facebook makes Metaverse about itself. They even change the name to Meta. It does not help to convince people of their view on Metaverse. Simply putting your virtual reality gaggle that your company invented and created the same virtual game to lure people into while continuing stealing other’s data and selling for profit is not about Metaverse. Facebook’s Metaverse lacks accountability, reliability, and vision. There is no concrete roadmap about the Metaverse they try to build but a promotion with blur view and CEO promotion using his own avatar to try to trick people into their database.
Coinbase took another route with a more specific roadmap. They create a pipeline to identify and ownership to payment with an earning potential to build a decentralized economy. They link everything together with their digital identity to the digital economy. They want to create a village with multiple apps link together: socialize, work, transact, play, and create.
Metaverse Is After Web3
Meta platform is more advance after Web3. It will connect every crypto product together. There are 3 worlds: virtual worlds, synchronous world, and scalable world.
The first world gives users identity and entitlements. They meant to give users a ground-rule to play and act in the virtual world. Identify will be verified by the wallet address. Entitlement likely will be provided through tokens or any voting mechanisms to help the world to develop consensus rules the communities will follow.
The second world is between objects, ownership, and payments. Similar to NFTs, users can create virtual features that link to their identity and entitlement while owning them and trading for currencies. #2 world is a marketplace that users can trade freely with each other.
The third world is for users to communicate with other users and with their history built to establish more reputation on the platform.
Check out my another article here: Defi Enters To Crypto Bond Phase
Each World Will Have Foundations
Protocol and blockchain will support first-world function with hardware and infrastructure built within. The second world will include tools and standards with real-world attestations to build more Dapps around the world. The third world will have a payment structure and voting frameworks built around.
Using Existing Development
Compared to Facebook which tries to build upon its own, Coinbase uses existing crypto and partnership with them to build a multi-verse together. The existing entities with their strength and further integrate into the Metaverse and provide a better solution to improve each other.
What is your view of the Metaverse? Do you like Facebook centralized Metaverse to ignore every but to build their own version of the world or Coinbase collaborate way to express the Metaverse in different aspects?
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Argentine Crypto Exchange Lemon Sheds Roughly 100 Jobs, Citing Challenging Industry Conditions
Lemon had planned to deploy almost the entire amount on its expansion in Brazil. Given the current context, its move into the South American country will be “more strategic and niche,” Cavazzoli said. The exchange put plans to expand into Chile, Colombia, Ecuador, Peru and Uruguay by the end of 2022 on the back burner.
It’s time for crypto fans to stop supporting cults of personality
Many of the centralized cryptocurrency platforms that collapsed this year had something in common: a young, outspoken and cocky leader. Each gained outsized influence not by virtue of outsized intellect or talent but because of their piles of money and large Twitter followings. And each time, misplaced trust in their abilities resulted in disastrous consequences.
If crypto wants to avoid similar catastrophes in the future, it’s time for us to rearrange our leadership priorities. We need to ditch the cults of personality.
The theater of crypto on Twitter
Before FTX collapsed, founder Sam Bankman-Fried (SBF) had garnered a reputation as one of the loudest voices in the industry. He was active in the political world and frequently commented on what was happening in Web3.
But perhaps most notable was his active involvement in a myriad of Twitter feuds and spectacles. SBF first stepped into the spotlight as the successor of SushiSwap after Chef Nomi abruptly abandoned the project — a drama that played out almost entirely on Twitter’s public stage. His ensuing Twitter antics, combined with the image of unstoppable success that FTX was broadcasting far and wide, gained him more than a million followers.
But even as SBF’s influence grew, it seemed he just couldn’t resist shitposting, regularly engaging with other Twitter users who threw stones.
Indeed, SBF’s penchant for Twitter drama played an important role in exposing FTX’s insolvency. It was his recent spat with CZ that ultimately led to the run on FTX’s deposits. His attention-grabbing antics carried on through the current ordeal, culminating in a bizarre series of cryptic tweets.
The loudest voices in the room
While SBF is the latest example of an industry figure whose highly public Twitter presence led to a highly public downfall, he certainly isn’t the first. Do Kwon and Su Zu, who were both at the center of monumental collapses earlier this year, were also notorious trolls. Do Kwon infamously sent an arrogant series of tweets just before Terra’s downfall, while Su Zhu’s infamously elusive comments during the 2021 bull run didn’t age well, either.
At our company offsite this week with all the drama happening. Debating who is the bigger villain in crypto:
a) Do Kwon – $58b loss from UST & LUNA
b) SBF – $10b missing deposits in FTX
c) Su Zhu – $3.5b loss from borrowers
d) Alex Mashinsky – $2.8b missing deposits in Celsius
— Bobby Ong (@bobbyong) November 10, 2022
But, the leaders of failed platforms aren’t the only ones guilty of social media braggadocio. Binance’s CZ, after all, was just as guilty as SBF of engaging in their public Twitter feud earlier this month. Digital Currency Group’s Barry Silbert, who has been at the center of alarm related to the FTX fallout, has also garnered a reputation as a shitposter.
There are many, many more tweeters who have used online spectacle and trolling as a means of controlling the industry conversation. Think Ben Armstrong (aka “Bitboy”) and Jim Cramer, to name just a couple more. There’s a small army of them. And, even though many are purged in each bear market, their successors are increasingly turning into powerhouses too vocal and influential to ignore in the space.
Jim Cramer said that he sold all of his crypto.
Then he blamed @APompliano for “putting him in” BlockFi.
So he… lied?
Now he’s on a crusade to blame anyone he can find for his own bad decisions, even “digital finance people,” which is literally a made up term. https://t.co/NTojFohvFQ
— The Wolf Of All Streets (@scottmelker) November 18, 2022
We need to end the cults of personality
So what’s the solution? How can we better identify this personality type and use this recognition to avoid future pain?
Instead of focusing on building cults of personality, the crypto community needs to focus on platforms and leaders building products that use web3 primitives to solve problems in a manner that’s orders of magnitude better than anything we’ve experienced before. The crypto community needs to stop listening to the loudest voices in the room and start listening to the wiser, more experienced ones — even if they are sometimes quieter. And by the same token, we need builders with experience in creating real value for users to speak up more.
Ultimately, the answer lies with us and with the people that we, as an industry, choose to lionize. We need to learn how to identify and support builders building transparent, secure, high-quality applications and decentralized applications — regardless of how many followers they have.
Corey Wilton is the co-founder and CEO of Mirai Labs, the international gaming studio behind Pegaxy. A renowned speaker and play-to-earn thought leader, he began his first company within crypto in 2018, a customer support service designed to assist cryptocurrency companies with their customer service.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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