The world has never been more digital than it is now. Everyone is connected to the internet, and we no longer imagine our lives without all the devices that connect us online. However, what will our online lives be like in the near future? Things cannot remain the same for long. A status quo does not last forever. The internet is changing, and our lives will change with it. We have to make necessary preparations for the current online trends accordingly.
The new kind of internet is already here – the Metaverse. The Big Tech is trying to get a piece of it and stay ahead of everybody. Yet, governmental institutions want to control everything. By doing that, they may spoil the very idea of blockchain and Metaverse of being anonymous, transparent, sustainable and out of the reach of intermediaries. However, how far they will go with regulations and control remains to be seen.
Current issues with the Metaverse
On the other hand, there are still many issues with the current state of the Metaverse. It is supposed to protect users from scammers. However, it might be difficult for a person to know if the Avatar that they see matches the person’s real identity on the other end because it is difficult to check whether the facial features were faked or are real ones. Going fully digital will complicate the problem as checking a person’s identity and, at the same time, giving the person privacy may be incompatible.
As Metaverse is still in the initial stages of development, it lacks a vital feature – an app store. Naturally, the problem creates an opportunity. Companies that are first adopters of the Metaverse have great potential for slicing a big piece of the new market, just like Android occupied the app market by introducing their own application store.
NFTs are an excellent way to facilitate payments in the Metaverse. However, the P2P crypto-transfers are also needed on many occasions, as well as advanced security that relies solely on the integrity of the blockchain. There have been thefts and security breaches in the NFTs industry because decentralized NFT marketplaces had to deal with centralized intermediaries. The latter was responsible for security leaks that caused users to lose their NFTs. Thus, again, centralized platforms are a potential threat in the Metaverse.
Metacoms solutions to the current issues of the Metaverse
Metacoms is built on the blockchain, which makes the platform’s security ironclad, and the 2D POC of the P2P crypto-transfers in the rooms of their platform are already live. Their NFTs are unique because they are in GLB-format. It is a 3D format that you can import into your own space and share 3D data with others.
Security remains the ongoing issue with the Metaverse, and it has to be addressed the sooner, the better. When you participate in the Metaverse life, you need to know who enters your space, and you should decide whom you allow entering and whom not. That should be mandatory in such spaces as gambling or speed dating. Both people’s identity and their age have to be confirmed. For that matter, verified facial features for Avatars should be introduced.
The solution that Metacoms is planning to roll out will include a voluntary KYC check and a facial scan with verification that will go live in the first quarter of 2023. Another one will be the Meta app store, which will give thousands of app developers a chance to develop and make revenue from the Metaverse. As a result, the Metaverse will become available for work for all developers worldwide, and it will make a gigantic leap in development.
Right now, unused parcels make the Metaverse feel empty. The solution is to spend more time in the Metaverse and, by doing that, to move the parcels to the center of the map. It will make the Metaverse more attractive and lively for both the newcomers and the existing users.
The prices for services and estimated revenues for Metacoms
Every feature in the Metaverse should be regarded as NFTs and thus digital goods. There are many ways to offer valuable services there too. Metacoms asks for a transfer fee of 1% for every NFT transferred and for an NFT resold. The target profit for 2027 is $4 billion. That would be 1% of the expected total Metaverse revenue of $400 billion by 2025.
Metaverse will merge services from all industries, and all investors should integrate Metaverse into their portfolios. Metacoms is leading the way with their blockchain platform with a Meta-app store, P2P transfers, facial features verification, rooms and spaces in virtual reality, and NFT compatible platform, to name just a few. The future of the internet is Metaverse. Let’s embrace it with Metacoms.