As we discussed in our complete guide to the metaverse, it’s largely made up of virtual worlds accessible to the public. So does that mean any online video game counts as part of the metaverse? No. It takes much more, including immersion, socialization, transactions, and user-generated content (among other things). Fortunately, there are already many platforms that exist in the metaverse as part of Web 3.0. Here are a few examples.
Decentralization is at the heart of so many Web 3.0 efforts, and Decetraland bills itself as an example of what a decentralized metaverse can look like. It achieves this by giving its users ownership of the platform and voting to establish its policies. Anyone can purchase land in Decentraland and use it to express their creativity, advertise their brand, or sell in-game NFTs. Users can also create their own in-game assets (NFTs) by downloading the builder, just like most virtual worlds in the metaverse. Technically, Decentraland isn’t completely decentralized. The website, blog, and platform itself are still maintained by the Decentraland Foundation. They could, theoretically, still take back complete control of the platform and institute whatever policies they wanted. Of course, this would lead to a sharp decline in its user base and (likely) a slew of lawsuits. So, the foundation has a strong incentive to avoid any such takeover.