Is Metaverse Well Off Without Blockchain?

• Metaverse, a concept which mirrors the physical world into a digital world where it allows users to experience real life activities virtually.
• Many tech giants in the industry are in the race to build the metaverse, Meta and Apple are among the top two contenders in this race.
• Metaverse is a booming concept, which has attracted many organizations into its sphere, and as per a prediction by CitiBank, this sector might become a $13 Trillion industry by 2030.

Some Organizations Are Building Metaverse Without Blockchain

Metaverse, the revolutionary concept that was initially given spark by a novel by Neal Stephenson, titled “Snow Crash’ back in 1992. Since then, folks have admired it, and tech giants have pledged to develop it.

Best depiction, apart from Snow Crash, was depicted in the Steven Speilberg movie Ready Player One, adopted from a novel of the same name. And people really want the metaverse to be like that.

When people think about the metaverse, they also think about the blockchain technology, as it is believed to be the groundbreaking tech which primarily supports the metaverse.

But here’s the thing, metaverse can be developed without the blockchain technology, in fact, the top two contenders in this race, Apple and Meta, do not use blockchain. So, undoubtedly, the digital realm can be built without this groundbreaker.

Blockchain technology allows the users ownership of assets. In the metaverse, without this tech, centralized authorities owning the metaverse will have complete ownership over the assets of the users.

This Is Why Blockchain Is Necessary In Metaverse

Blockchain, as mentioned above, will provide true ownership of the asset in the metaverse. Sure people will enjoy their time in the metaverse, especially if it resembles the “Ready Player One” concept. But what good it is, if they are not able to own assets there, it will be a great waste of time.

User data on a blockchain can be recorded and dispersed, but no way it can be edited once it is fed. No one can manipulate it.

Another point to be taken into account is that metaverse should be owned by the users, not some centralized entity such as Meta or Apple, where they will have the command over users and their data.

This is why Web3 is considered to be the base of Metaverse, a user owned internet where centralized entities do not have the power to control them.