Hello, and welcome to Protocol Entertainment, your guide to the business of the gaming and media industries. This Tuesday, we have an interview with Newzoo metaverse expert Mihai Vicol on the state of virtual worlds in 2022, as well as all the news over the weekend about how the game industry is responding to the overturning of Roe v. Wade.
The state of the metaverse is up in the airThe metaverse remains a fluid concept. Many of the biggest names in gaming and tech agree that the metaverse will likely be composed of one or many 3D virtual worlds with functional economies, persistent identity and some level of interoperability. But it’s still early days, and many fundamental questions remain unanswered: How important will AR and VR be, what role should concepts like the blockchain and NFTs play and how might we avoid the pitfalls of Web 2.0?
For clarity on these topics and many more, market research firm Newzoo set out to take stock of where the metaverse is today and where it might be going in its second metaverse report, and I caught up with the company’s metaverse lead, Mihai Vicol, to discuss the key findings.
Blockchain gaming is still untested. Some Web3 and metaverse proponents are convinced that blockchain-based video games sit at the forefront of the metaverse by pioneering approaches like pay-to-earn, NFT aftermarkets and decentralization. Vicol isn’t so convinced.
“Today’s gaming and tech ecosystems are largely split along regional and cultural lines, and the same is likely to hold true for the early metaverse,” he writes in his report. “The potential for abuse of power in a centralized metaverse is also non-trivial, which is why several organizations are working to create open standards. We also need to keep in mind that, as with any new technology, the transition to the metaverse will happen gradually, and it is up to the individuals building it to do so in a responsible manner.”
Full Story here.