‘metaverse is not Facebook’: Decentraland or StarLink ‘cryptos’ came first

On the one hand, Zuckerberg has been criticized for his role in trying to accommodate an idea pioneered by Neil Stevenson in 1992 in his novel ‘Snow Crash’ and those various projects, such as decentralization, on the blockchain. On the other hand, media attention has received what has been described as an image-laundering in the face of the many scandals that Facebook is involved in. Enhanced tokens for these projects.

The metaverse that Facebook imagines is not its own and contradicts the basic concept of the ‘crypto’ world, of which decentralization is the bedrock, comments Emmanuel Justo Kantvich, author of Crypto Jungle: Low Cost Comes to Finance. “The metaverse of the crypto world is owned by its users”It shows, as in the case of Decentraland, for example (the most famous virtual world already inhabited by 60 million crypto citizens).

Instead, the “metaverse that Mark Zuckerberg suggests is referring to He repeats in 3 dimensions his voracious vision of capitalism Vertical and hierarchical, completely central, in which whoever wins is a kind of Leviathan central, while users become something more similar to the product”, emphasizes the author.

The writer strongly accuses the Facebook project, because “one of the basic concepts of the crypto phenomenon is the generation and redistribution of value. What is sometimes called the democratization of finance.” “Facebook is Demonstration completely against the strategy of mass change of crypto people‘, mint.

The plus side is that what Facebook does in the crypto world is of little importance, and in the days following the MetaFacebook announcement, MANA, the currency of Decentraland, has achieved record growth. Similarly, the value of STARL, from the StarLink metaverse, has doubled in just a few days.

The Facebook announcement was made on October 28, the next day, Mana recorded a price increase from $0.87 to $1.4, an increase of 80%. On October 30, it reached an all-time high above $4.7, up more than 400%. It has since lost about 50% of its value and is trading around $2.50. that it The market capitalization is $4.5 billion.

Decentraland, which creates a virtual world very similar to Second Live, allows its users to connect through a computer, but other initiatives play with the virtual reality Facebook proposes, such as NFT Oasis.

What about the coin?

Other analysts go one step further and ask What will the meta coin be?. For years, Facebook has been trying to develop and launch its own digital currency, first called Libra and now called Diem. Wisdom Tree analysts explain that “one way to stimulate adoption of this digital currency is to convert it into a reserve currency.” They add, “If the physical and virtual facts are murky, then this means that Diem can be brought into day-to-day use faster and can be accessed and used as a result along with other existing currencies.”

They add, “If Mark Zuckerberg’s vision of a monolithic metaverse makes you uncomfortable, the good news is that it is unlikely that one company will build, maintain, and absorb or exclude all other virtual worlds.” The most likely outcome is a Metaverse Group Various types of software use interoperable protocols and open source software,” the manager’s analysts conclude.