Metaverses in Web3 Might Be "1 or 10" Years Away: Seasoned Investor

Mr. Jason Choi, veteran crypto VC investor, shared a summary of his recent dialogues with 50+ leading products in the sphere of Metaverses.

Metaverses: Infrastructure, experience layer, value-add layer

According to his thread, we can better understand Metaverses as digital virtual worlds with some element of user-ownership through cryptos or non-fungible tokens.

1/ "Web 3 metaverse" refers to digital virtual worlds, often with some element of user-ownership via tokens or NFTs.

Every project we came across fell into one of 3 categories:

- Infrastructure
- Experience layer (in-world)
- Value-add layer (out-world) pic.twitter.com/LPD0igDClL

— Jason Choi (@mrjasonchoi) March 4, 2022

All start-ups he spoke about belong to three catagories:  infrastructure (identity, "Metaverse substrate," hardware basis), experience layer (games, social and commerce concepts) and value-add layer (guilds, studios, marketplaces).

At its core, the typical "Metaverse" looks like an MMORPG with blockchain features. This situation closely resembles the diversity of L1s in 2017, Mr. Choi adds.

Play-to-earn guilds look like the greatest examples of decentralized autonomous organizations (DAOs) for him.

Experiences instead of OpenSea links

However, he is certain that the most impressive Metaverse products are yet to come. To change the narrative, their developers should consider the approach of Facebook.

A one-for-all immersive infrasturcture framework could be the next gamechanger here:

The moonshot opportunity is create an open alternative to what Meta is attempting to create. I.e. a platform on which *any* developer can build social, entertainment, work, education & commerce experiences in-world, that any user can access

As such, play-to-earn teams should focus on bringing "real-world" experiences to their products, like shopping, for instance.

However, it is not so easy to predict an accurate time frame for the creation of such experience in the Metaverse segment:

The idea of a Web 3 metaverse might be 1, or 5, or 10 years away...