Key facts:
87% of people prefer a metaverse based on decentralized blockchains, like Decentraland.
The virtual worlds of playing to win cryptocurrencies are preferred by young people.
Facebook, now Meta, probably wants to own the data of users who enter its metaverse, but young people are not willing to give it up. That was what was revealed by a survey that consulted the opinion of 1,000 American consumers interested in interacting in virtual worlds.
an overwhelming 87% prefer to enter metaverses based on decentralized blockchainslike Decentraland, built on top of Ethereum.
The survey conducted by Advokate, a group founded by alumni of the Massachusetts Institute of Technology (MIT), make it clear what Generation Z (those born between 1997 and 2012) is the one that values decentralized metaverses the most. In them they can buy a digital piece of land to build whatever they want on it, earn tokens by playing video games like Axie Infinity and at the same time acquire a digital currency of governance to have a say in the fate of the project in which they interact.
It is not surprising that users feel concerned about the fate of their data when entering the Facebook metaverse or the one that Meta is working on, because let’s remember that the company’s business model revolves around data of the users.
The company uses the data collected to allow third parties to display targeted advertising to people who interact on its platform. And it also shares the data directly with other technology companies, including Amazon, Apple, Microsoft, and Netflix.
Among the data that Meta captures, including there are the biometrics of more than 1,000 million people, that is, approximately 15% of the world population. This information allows the platform to identify a person, even when no one had manually “tagged” them in a photograph through their username, as reported by CriptoNoticias.
A Meta-controlled metaverse, which will ostensibly consist of virtual reality experiences accessible through the company’s Oculus Quest headsets, would present them with the opportunity to analyze all user activity. The company could then use the collected data to transform your virtual world into an environment that benefits your business partners, even if it is detrimental to people’s privacy.
A more decentralized world thanks to Bitcoin
Since Bitcoin appeared on the scene in 2008, the whole world has become more and more aware of the tremendous disruptive power of decentralization. Since then, countless applications based on decentralized blockchains have emerged that do not require the intervention of a central entity.
A lot of projects from the decentralized metaverses are offering unique experiences, allowing players to take control of the world they inhabit and also help create. The Sandbox and Somnium Space are examples of this. Obviously, it is the birth of a new world that users are valuing, as evidenced by the aforementioned survey by the consulting firm Advokate Group.
And what are young people doing in these metaverses? The aforementioned study has an answer to that question: “The number one activity that consumers in the metaverse pursue is games,” he says.
All participants in the metaverse would apparently like to earn money that they can then spend in the physical world.
When the pollster asked them about the characteristics they prefer in the metaverses they visit, more than 93% of users said that making money is what they want most. It means that his favorite worlds are those of playing to win or play to earnsuch as Axie Infinity, Splinter Lands and Alien Worlds that keep more than 240,000 gamers active daily.
To most of the respondents they do not care about the time that passes while they play, if it means winning cryptocurrencies. Nearly two-thirds of participants or 63% said they would play 3 hours or more per day if they could win money. Surprisingly, 11% would play 7 more hours a day and 87% would switch to gaming full time if they could get paid.
“The future of the Internet is an immersive metaverse with a variety of exciting and fun games to earn money. This survey illustrates that gamers and consumers long for a digital space where they can play exciting games, socialize with friends, create and personalize their NFTs. [Tokens no Fungibles]».
Gordon Kwok Director, CEO of Advokate Group.
On the other hand, many believe that the metaverse will take a long time to develop. One in five participants believe it will take 1-2 years, while almost half (49%) said it will take 3-6 years.