7 Essential Ingredients of a Metaverse: The best
encapsulation of the metaverse/Web3 vision I’ve seen yet. If you want to see what
the true believers see (and are chasing with billions in VC dollars), this is basically it. My take
is that this all hinges on the idea of permissionless interoperability, which she explores in the Composability
point. To use one of the common examples about in-game digital goods: It would be wonderful
to take a Marvel skin I bought in Fortnite into another game. How does that work? It’s not just
about the technical realities of the 3D model and assets. How does Disney get paid for
that usage? Or should they get paid? Lots of interesting questions. The closest analogue I keep coming
back to is Movies Anywhere. Buy a movie once on any of the major
services and it unlocks, for free, on all of the other participating services. How does one make that
work “permissionlessly” with NFTs?
The Ownership Economy 2022: Lots to digest
in this newsletter, but a couple of key takeaways for me. First, this is a compelling vision, and fits well with the
link above. What’s not to like about turning your data and your digital spending into real assets, not just
crappy in-app-purchases and disappear the moment the company pivots or dies? At the same time, this is a story
for people with means and disposable income to spare and then some. It’s a story for wealthy folks right now.
That makes me uncomfortable - how can you change the world without improving the lives of everyday folks? But
then I look back at cell phones or even the Internet - they started out at toys for wealthier folks. How many
movies in the 80s tied cell phones to rich folks. “Money never sleeps”
and all that. Second, if you’re looking to get into this space and make a meaningful contribution, it seems like
the thought experiment to start with is this: what has to get solved between today’s nascent Web3 world and
a future where NFTs (or an equivalent) make sense for low dollar digital purchases like skins and in-game assets -
not just the transaction fees, but the interoperability that makes these digital assets actually function as
decentralized assets? That’s the roadmap to a future where this vision actually could happen.
Stych: I’ve been looking into authentication SAAS providers. There are the
usual suspects, Auth0, Okta, etc. Their emphasis on passwordless auth as their key value proposition
is interesting. Appreciate any feedback if you’ve used them or anything like this.