26. In today's metaverse, there are three main domains that participants must distinguish, which are the three essential tracks in the metaverse in the true sense.

Author's Note

My public account has added a new section, "Wonderful Translations." This section will publish some overseas articles that I have translated, which may be universal or technical articles, not limited to any specific type. The core purpose is to improve my English skills and provide some overseas perspectives for everyone. Of course, my skills are limited, and I am not a professional translator. If there are any mistakes or omissions, please feel free to correct and communicate with me.

At the same time, I have made some optimizations to the public account, such as article formatting, the menu bar, and quick replies. As for the community aspect, many readers have asked me if there is a community. I will provide a unified response here.

Currently, both myself and the public account do not have a community. Mainly because I don't have enough energy, community management is not as simple as just creating a group, and no one wants to join a group only to find that everyone is discussing cryptocurrency trading, promoting advertisements, or sharing links. Therefore, I currently do not plan to create a community, but if the public account continues to grow, at some point, I will create a communication group.

By the way, what I do is sharing, not providing services. Everyone can communicate with each other, but please do not ask me to provide any services.

Main Text

Talking about the prospects of the metaverse and its future applications now seems too much like marketing. Therefore, I will set the time dimension to the present and analyze the current metaverse from three different perspectives. This article will try to avoid discussing the future of the metaverse and only analyze the current metaverse landscape.

The origin of the metaverse and some universal narratives have been written about before, and if you are interested, you can click on the links below to read them.

"16. Looking back at the metaverse boom in 2021, how do we face the opportunities?" (link)

"8. The metaverse in 2021, the culmination of financing stories at this stage" (link)

The scope of the metaverse now is very broad and is no longer limited to the blockchain industry. Therefore, in this article, I will divide the current metaverse section into three categories under the broader concept of the metaverse: blockchain metaverse, capital metaverse, and policy metaverse. I will explain my personal opinions on each of them.

Blockchain Metaverse

The blockchain metaverse is a familiar section in the cryptocurrency community, represented by projects such as The Sandbox and Decentraland. The biggest characteristic of this category is that it follows the principle of decentralization, is developed based on blockchain technology, and achieves market value growth through governance tokens. Users or investors participate by investing in governance tokens to earn profits. The entry barrier is low, the investment cycle is flexible, but the risks are high, and it is currently unregulated.

In the blockchain metaverse section, there are also many metaverse projects that cross-brand positioning. For example, projects that focus on Gamefi or NFT, or purely swap projects, have modified their project positioning to follow the metaverse trend. However, what they are currently doing has nothing to do with the metaverse.

The worst category in the blockchain metaverse is projects that don't even have a product, but only issue tokens and write a few paragraphs describing the future of the metaverse for community marketing. The popularity of DEX has lowered the threshold for token issuance to almost nothing. These projects are extremely high-risk and do not belong to the concept of the metaverse. They are merely packaging.

Speaking of serious blockchain metaverse projects, they already have products that can be used and have carried out various cross-industry collaborations. Cryptocurrency practitioners are more exposed to the blockchain metaverse.

Capital Metaverse

As the name suggests, the capital metaverse serves capital more. This includes the layout of various giants in the metaverse industry, such as Microsoft, Meta, Roblox, ByteDance, Tencent, and so on. One major characteristic is a focus on investment returns rather than blockchain elements. These capital metaverse projects often have layouts in the industry chain, such as ByteDance's acquisition of the leading domestic VR glasses company Pico, Meta's VR benchmark Oculuc, and so on.

However, the metaverse projects in this section are more of a re-packaging and re-marketing based on traditional concepts. Because the business lines under the giants are long, complex, and diverse, the concept of the metaverse can encompass elements such as social, gaming, virtual reality, e-commerce, and more. Therefore, the giants have tacitly marketed the metaverse concept together. It is precisely because of their marketing efforts that the metaverse section has gained favor from capital.

Specifically, Microsoft acquired Activision Blizzard in the name of metaverse layout, Meta transformed itself in the name of metaverse socialization, and Roblox went public directly in the name of the metaverse. These capital operations are essentially using the metaverse concept to reshape their existing business lines or simply renaming their existing business lines to gain capital market attention.

Policy Metaverse

Let me first share some recent news about domestic metaverse policies for your reference.

The policy metaverse is a unique feature of the domestic metaverse. This type of metaverse does not require blockchain or cryptocurrency. For policy metaverses, what is needed is a metaverse industry chain to stimulate domestic demand.

In the policy metaverse, common points can be extracted from various policies, which is the vigorous development of the metaverse-related industry chain. This industry chain can be concretely represented by technology parks, industrial parks, and manufacturing as the core objectives. Under the call of the policy metaverse, industries such as VR/MR glasses can flourish, driving the supply chain demand of the manufacturing industry and stimulating job growth. The development of the virtual reality industry also contributes to content consumption, such as metaverse software, metaverse games, videos, and more, creating more job demands.

As for the specific implementation in various cities, the development of the metaverse essentially means the development of high-tech parks. It involves talent introduction, investment attraction, office leasing and sales, similar to the development of blockchain industrial parks in the past. A few years ago, I had the opportunity to communicate with a government official from a certain place. They said that they wanted to vigorously develop the blockchain industry, but after several detailed discussions, I found that their needs were not about solving problems with blockchain solutions, but they wanted to build an industrial park in the name of blockchain and hoped to take the lead in attracting blockchain-related investment.

Therefore, to summarize, developing the metaverse in the policy metaverse is not the goal but a means to stimulate domestic demand. Of course, there are profit opportunities in such means, but these opportunities are far from what the cryptocurrency community understands as the metaverse.

In conclusion, after reading this, I believe those who want to participate in the metaverse trend should have a clear understanding of which category of the metaverse they can participate in. It would be extremely difficult to mix the three different metaverses together. For example, trying to incorporate blockchain metaverse into the policy metaverse would involve significant policy and investor risks, and could even lead to legal troubles.

It may be more appropriate to find the right track to participate in the metaverse.

Remember, at no time am I providing investment advice, and I do not even recommend investing in cryptocurrencies. Sometimes, messages in the background may not be displayed, so you can add my personal WeChat for communication. But please indicate the purpose.

If you find my articles useful, you can buy me a cup of coffee through appreciation. Feel free to like and share.

Author: Liu Ye Jing Hong

Public Account: Wesman's Notes

Personal WeChat: liuyejinghong_

RSS3 Personal Homepage: liuye.rss3.bio

Reply "web3" in the background of the public account to receive free web3 learning resources.

Reply "Industry Report" in the background of the public account to receive the 2022 industry report for free.