Ultron Foundation | The Adoption of Metaverse and Web 3
The metaverse is a revolutionary game-changer. According to the Ultron Foundation, the metaverse originates from the 1992 sci-fi novel “Snow Crash” and used to be more of a vision than a reality. Furthermore, it is believed to be a 3D immersive world that is synchronous, persistent, and unlimited for concurrent users. Though in its early stages, the metaverse is radically changing how we can interact online, how brands advertise, how fast crypto is adopted, and other facets of life.
Let’s discuss the metaverse and its relation to crypto and internet 3.0. Although they both point to a vision of a better internet future, the two concepts must not be conflicted or become a source of division around ideologies of how we want to continue building the internet. Recently, the terms “metaverse,” “crypto,” and “Web 3″ have been used interchangeably, especially by newbies in the crypto space.
The metaverse is completely digital and replicates our normal life, where we spend most of our time working, learning, playing, and entertaining. Recently, the metaverse feels ambiguous and abstract because it has not taken many forms yet. However, so many companies are heavily invested in metaverse development. The Ultron Foundation is a rising contributor to the world of the metaverse and explores the cultural and societal implications of its developments.
The reality remains that the metaverse will require everyone’s input and participation to take form, just as the current version of the world-wide-web, also known as Web 2, is characterized by increased use of social media platforms, allowing different outstanding user-generated content. This is entirely different from Web 1.0, which was static and non-interactive, and information dissemination was controlled by a small group of people only.
For a better understanding, let’s take a more focused look at Web 2 companies. Facebook (Meta), Twitter, Google, Microsoft, Apple, and Amazon control how most Web 2 data will be used and where and how it will be stored and processed. Their algorithms decide the information their audience consumes, giving these big tech companies more control over information dissemination. In contrast, Web 3 is a more specific model that provides clear solutions to this weakness of the Web 2 internet. It fixes privacy issues and other data extraction threats that big tech companies pose.
Following the numbering behind the names, there have been two versions of internet computing, and progressively the limitations of the different versions are solved by another release. Web 1.0 was the initial version of the world-wide-web that showcased information. However, it was limited in ability and didn’t offer many ways to make money from content.
After that, there was Web 2.0, which exceeded Web 1 by sorting information on websites and permitting information to flow freely from a site owner to others. It also introduced tools for users to generate content. Web 3 is being promoted heavily because content creators are furious that most websites are owned by big tech and want a way to decentralize their power leading to the increasing call for a new internet that will tackle the flaws of the existing internet—Web 2.
Today, people are calling for a new version of the web built on the blockchain, which would make content-creators owners of their content and allow them to monetize it themselves rather than a “big tech company” receiving royalties off their content. Furthermore, Ultron Foundation showed that Web 3 would apportion each content creator a token on the blockchain whenever their content is accessed by a user, which then amasses into tangible monetary value.
Even though tons of propaganda and many investors are becoming rich off of crypto, there’s no certainty when the metaverse will become popular and easy to use by the general public. Generally, there’s been slow acceptance across industries as governing bodies are still figuring out the best way to regulate the blockchain. Thus, content creators might wait a while before they receive blockchain tokens on their web 3 contents. However, this is not the same for content creators working on the Ultron Foundation metaverse because they ensure that content creators can monetize their content, including those with little knowledge of Web 3 and the metaverse.
It is crucial to note that the existing limitations in Web 3 and the metaverse, although significantly addressed by the Ultron Foundation, don’t imply that Web 3 won’t grow or that Web 3 won’t integrate some other method of decentralizing content. Building on the blockchain implies that data is open, distributed, and collectively owned by peer-to-peer networks. As a result, users own and control their data, peer-to-peer transactions can bypass mediators, and data exists on the blockchain as a public good that anyone can contribute to and monetize.
While Web 3 is an innovation to transform how we can manage data, exchange money, and govern governance, the slowness of clearing blockchain transactions limits the settings and use cases in a rational application.
Even though a completely decentralized internet model appears enticing, it has its impracticality. While one could argue that Web 3 is a critical building block for the metaverse, it is simply one portion of a greater whole. And admitting that Web 3 and decentralization are only building blocks for the metaverse opens prospects for other contributors rather than antagonizing them.
The contribution of big tech companies to the metaverse is also raising suspicion that they will take over the metaverse and, therefore, force platforms to operate as a closed ecosystem once again.
For instance, when Meta announced their investment in the metaverse, rather than people focusing on how their contribution could boost the growth of the metaverse and its adoption, most people missed the innovation and focus; they believed that all Meta was pushing for was primarily hardware and a 3D user consumption and input interface, which frankly, does not exist today. However, companies like Ultron Foundation are trying to solve the immersion problem with their metaverse project, and it’s important.
If we anticipate utilizing the virtual world enjoyably, there is a need for virtual interfaces that are more immersive, expressive, and natural. This explains why Meta’s developments in AR/VR and motion sensing technologies do not challenge the work of Web 3 and decentralization.
Another outrageous view is that Web 3 will make Web 2 outdated. Again, it’s almost impossible to imagine such a reality. Although there are many shortcomings of Web 2, many products operate more efficiently without using the blockchain. Irrespective of whether we admit it or not, centralization works. The Ultron Foundation is an example of a centralized exchange that enables transactions of cryptocurrencies and sales of NFTs. While this hybrid product does not perfectly project the decentralization ideology, they are critical “bridging products” that help greater Web 3 elements by attracting the mainstream.
Other Use Cases Of Web 3
Optimistically, Web 3 involves other noteworthy features, like integrating AI into internet processing that replicates how humans distinguish information. Web 3 may validate information quickly and serve it up faster to users. As big tech giants like Microsoft, Apple, Facebook, and Google get involved in the new internet, this might increase its development and adoption.
Web 3 can be used for 3-d designs of websites and to integrate IoT devices into their periphery. Since Web 3 now has tangible evidence to support its existence and operation, a lot of brainstorming and investment has led to many innovations around the metaverse, like having the opportunity to become a landlord in the Ultron Foundation’s exclusive Ultron football metaverse, which has a total size of 10 km2.
Despite the incredible innovation and offers around Web 3, it is hard for some to stay believers; this is not surprising as people ridiculed the idea of the internet and its impacts when web 1.0 was initially introduced. However, change is constant, and Web 3 adoption, though slow, is very certain.