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Metaverse Blog Metaverse Good Read Metaverse News

[Metaverse Good Read] Neal Stephenson’s Metaverse Moonshot – LAMINA1

 

  • Technology Roadmap 
  • Mission
    To deliver a Layer 1 blockchain, interoperating tools & decentralized services optimized for the Open Metaverse –– providing communities with infrastructure, not gatekeepers to build a more immersive internet.

  • Belief
  • The Metaverse represents the evolution of our lives online –– graduation to rich 2D and 3D worlds in which we fluidly create, explore, socialize and transact. As we usher in this bold new era of content creation and participation, we must revisit the centralized business models of Web2 to empower creators and consumers with greater agency, ownership and privacy. A creative community that is free to innovate and transact will give rise to a thriving economy. Lamina1 delivers critical infrastructure to enable the trillion-dollar economy of the Open Metaverse.
  • Context
  • “Inexorable economic forces drive investors to pay artists as little as possible while steering their creative output in the directions that involve the least financial risk.” –– Neal Stephenson
  • Web2 introduced a period of rapid innovation and unprecedented access to entertainment, information and goods on a global scale. Streamlined tools and usability brought creators and innovators to the web en masse to build digital storefronts, engage and transact with their customers.
    Owning and controlling that growing ecosystem of content and personal data became a primary, lucrative initiative for major corporations. Consumer behavior, recorded on centralized company servers,
     

Open Metaverse with a multi-pronged approach: 

 

  1. Layer1Blockchain
  2. Metaverse-as-a-Service(MaaS)
  3. CommunityEconomicParticipationandIncentives
  4. OriginalContent
Layer1 Blockchain 
  1. ●  Open Metaverse Data

  2. ●  Carbon Token Staking

  3. ●  Cross-chain Integration

  4. ●  High-scale Payments

  5. ●  OpenID Connect

●  EVM Quality of Life Improvements

Metaverse-as-a-Service Stack

Lamina1 will foster –– with heavy participation from the ecosystem –– the creation of a set of interoperating decentralized services to support virtual worlds, i.e. Metaverse-as-a-Service (”MaaS”).

Our mission is to be the rallying point for an ecosystem of open source tools, open standards and enabling technologies conceived and co-developed with a community of creators.

MaaS and ecosystem technologies will ideally be enhancements to/integrations of existing open source solutions, and/or directly provided by third parties. However, our technical team will be involved in the early launch stages to identify best-in-class tech and tools, highlight key technical areas for innovation and close critical feature gaps — possibly creating spatial technology and tools needed to get the job done — demonstrating leadership and vision toward building the Open Metaverse. That said, we will only build what is absolutely required.

  • Storage Layer
  • World State & Persistence

    Cloud & Hybrid Rendering

Categories
Metaverse Masterclass

[Metaverse Good Read] Legal issues in the metaverse

There are a variety of legal issues concerning the metaverse, especially given that it is a meeting point for multiple technologies, requiring or linked to servers, hosting, software, platforms, hardware and other peripherals (e.g. VR glasses and haptic gloves for sensing virtual objects), content, graphics, maps, buildings, photos, interfaces, as well as blockchain for acquiring and registering tokenised virtual assets. This diversity also raises a host of legal issues ranging from intellectual property rights to data protection and civil law.

Data Security & Privacy
Intellectual Property
Fintech
M&A and other Investment Activity
Regulation of Virtual Assets
Gambling and Lottery Laws
Regulation of Conduct in the Metaverse
Tax

In this series of articles, we explore the key issues concerning the metaverse, including:

Part 1: Trademarks and copyright, NFTs and civil law principles in metaverse

Part 2: Data protection challenges, the importance of cybersecurity, advertising regulation in metaverse

Part 3: Tax, Regulation

Part 1: Trademarks and copyright, NFTs and civil law principles in metaverse

Users can generate virtual creations in the metaverse by interacting with the digital avatars of other users or brands in the virtual space. This raises the question of who owns the intellectual property (IP) and what protection is provided to the creators?

To quote an example, it may become difficult to conclude the identity of a given work’s creator(s) in the metaverse, especially when the work results from a decentralized collaborative process carried out by users hiding behind avatars.

The metaverse can also experience issues with trademarks. Companies in the metaverse use real-world brands such as Nike, Gucci, CU, etc., to create and sell items/accessories for avatars. Circumstances can arise when:

  • Such items are used within the metaverse,
  • A user creates and sells the same item, or
  • When items gain popularity in the metaverse and are then copied and produced in the real world.

Part 2: Data protection challenges, the importance of cybersecurity, advertising regulation in metaverse

The security and privacy of users’ data will be among the most significant metaverse legal implications issues that platform owners will face. While these concerns are not new to tech companies, Facebook being a very popular example, data in the metaverse will be exponentially more valuable than it already is. Technologies will become closely integrated into almost all aspects of the users’ lives.

The sensors would have real-time insightinto the lives of humans. Gears like AR glasses and headsets can particularly bring major privacy threats by serving as mics and cameras inside homes and offices.

Behavior in the metaverse will have the capacity to reveal intrusive information about people’s interests, including biometric data and head and eye movements. Currently, there are no set guidelines for who and what companies can collect, who owns it, and how it can be used.

Since the metaverse aims to be a global environment, it would be difficult to know which data protection laws apply.

Some of the key questions to consider when it comes to privacy and cybersecurity include:

  • What personal information are you sharing on the metaverse?
  • Who has access to your personal information?
  • How is your personal information being used?
  • Is your personal information being shared with third parties?
  • What security measures are in place to protect your personal information?

Part 3: Tax, Regulation

Digital assets, when purchased and/or sold, may be subject to different taxes like income tax, sales tax, etc. For example, the metaverse allows users to buy virtual land and build settlements or purchase NFT versions of real-world objects needed to construct their world. The growth of Web3 has also created an opportunity for people from all over the world to work together on new business ventures with their own rules.

Finally, regarding the provision of public services, several cities have already started a transition towards a virtual public venue. Virtual reality seems to be the choice picked by these cities for greater efficiency and proximity in favor of their citizens. However, this approach presents a strong risk of massive surveillance and monetisation for host platforms. To protect users, European institutions should ensure the complete application of the GDPR provisions to effectively avoid targeted advertising in such online public venues.
Furthermore, our study underlined the transformation that is going to occur in education. The Metaverse will open new possibilities and opportunities for professors to teach to students and to improve pedagogical support. However, studies already mentioned the danger of screens and social media for young people. Their social identity could be deeply modified creating isolation and behaviour alteration. European authorities and actors of health and digital sectors should open a conversation toward the use of the Metaverse for education and its impact on our children’s health.

References:

https://www.sciencespo.fr/public/sites/sciencespo.fr.public/files/Metaverse-Group-report-final-draft-June-12-1.pdf

https://www.cliffordchance.com/content/dam/cliffordchance/briefings/2022/02/the-metaverse-what-are-the-legal-implications.pdf

https://cms.law/en/int/publication/legal-issues-in-the-metaverse

https://abovethelaw.com/2022/09/the-technology-and-legal-issues-behind-metaverse/?amp=1

(Image credit: “The Good Fight” Season6.)

Categories
Metaverse Masterclass

[Metaverse Good Read] Tokenomics Report by Binance Research

Binance Tokenomics Deep Dive Report Overview


“Tokenomics can be defined as the study of determining and evaluating economic characteristics of a cryptographic token. [The Binance report aims to understand] how various incentives affect the supply and demand of a token and, ultimately, its price.”

Report Digest

The report introduced the concept of Supply and Demand – the MOST important thing in Tokenomics.
The report also covered the overarching foundation to different token aspects like , use-cases, allocations, vestings, and emissions. Also, it rightfully stated that protocols that don’t taper with their emissions after attracting initial demand via high APRs are not sensible.
This Tokenomics Report pointed out niche token value-adds, such as that some crypto companies are self-classed as non-profits therefore selling tokens to pay for growth and ops is understandable.
Covering FDV vs Market Cap well from perspective of investors, the report explained vote escrow well and went over its benefits and potential drawbacks to users.

Conclusion


In this report, the reader can get explanations around how a dual-token economy operates and the pros and cons of such a model, also pointing out that not all projects need a token.
Brief conclusion – “without a good product, even an excellent token design and utility are of little value”.

Categories
Metaverse Summit Roadshow

[Metaverse Summit] Web3 Foundation & Polkadot Roadmap and Vision with Joe Petrowski

[Metaverse Summit] Metaverse Identity and Ownership: Legal and Compliance Panel

With the deployment of metaverse in our daily lives, there will be new opportunities for people and firms to extend their activities. At the same time, these activities touch various legal and compliance aspects. In this panel, we’ll focus on two topics : Identity and Ownership.

IDENTITY:

As the next generation of the Internet, the Metaverse should first have the function of carrying the effective identity of users. What are the different approaches and forms of digital identities in the metaverse? What would be the potential opportunities and risks of blockchain-based identity ecosystem? What would the future cross-metaverse decentralized identity ideally be like? (case and examples: ONCHAINID, Crucible)

OWNERSHIP:

The bearing function of user property refers to Metaverse’s recognition of user property ownership. How to judge that someone has ownership of something? Own a movable or immovable property?

Metaverse is not only a new form of entertainment, it will also have real world impact and functionality. How to bridge digital identity, virtual ownership and real-life? How can consumers be protected? (Utrust)

NFTs, IP ownership and Financial regulation:

In response to “right-clicker mentality” — how to balance the ‘perception of ownership’ and the true ‘on-chain ownership’ when it comes to virtual assets?

From a regulatory point of view, is it crucial to determine the nature of NFTs. eg. a means of access/proof of ownership (utility tokens) or rather be considered as securities (security tokens)? What’s the regulatory state of art and future of NFTs in these regards?

Although NFTs are not (yet) specifically regulated, what are the regulatory and compliance obligations that the businesses should take into account?

Metaverse Identity and Ownership: Legal and Compliance Panel

00:00 intro of four panelists.

04:06 What are the different approaches and forms of digital identity in the metaverses?

11:15 What will be the trust metaverse identity regarding user data?

15:09 How to judge that someone has real ownership of something?

21:32 What is the regulatory state of the art?

29:22 What kind of elements should entrepreneurs take into consideration?

31:15 What type of legal framework is there for the current state of art decentralized autonomous organization?

38:38 How can we bridge the virtual world of virtual life with real life?

45:19 How can the user’s rights be protected in the current state of the art?

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Metaverse Summit Roadshow

[Metaverse Summit] Web3 Foundation & Polkadot Roadmap and Vision with Joe Petrowski

Metaverse Summit Roadshow invited Joe Petrowski, Technical Integrations Lead at Web 3 Foundation to talk about Polkadot, Web 3, and beyond. In this episode you can learn about:!How to get more users into the Polkadot ecosystem? Why is Parachain important to be able to design a blockchain specific to a use case? How does Polkadot compare to other Blockchain Ecosystems (eg: Ethereum) right now? What are use cases for Polkadot regarding “Metaverse”. What is the recent experience with governance on Polkadot?

00:00 intro

01:07 How did a pro cyclist of a web-free foundation build the internet of the future?

03:37 Where is the whole blockchain space if something is legit?

07:08 How did you personally get into the web3 foundation and Polkadot?

14:13 Where do you have one major blockchain?

20:44 What’s your vision in the recent future and the long term?

29:18 What is the experience with the governance in web3 foundations?

36:18 What’s gonna happen in 2.0?

38:32 How does everything translate if going back to the metaverse?

Web3 Foundation & Polkadot Roadmap and Vision with Joe Petrowski

Listen to the Podcast

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Meetups & Events Metaverse Summit Roadshow

Metaverse Summit Meetup Madrid

🔥 Follow Metaverse Summit on Facebook, LinkedIn, Twitter. Join our Telegram community.

 

———————————————–

Opening speech by D. Santiago Iñiguez.​​

Introduction by IE School of Architecture and Design Associate Dean, Cristina Mateo

​​Panel 1: Welcome to the Metaverse (Marketing and branding strategy)

Speakers:

– Macarena Estévez (Partner- Analytics at Deloitte, Top Voice 2020 LinkedIn)

– Alvaro Antoñanzas (Co-Founder and COO of DeuSens)

– Emanuele Giusto (Awarded film director, Journalist, Visual Artist, Crypto Author, Author of the book: Crypto Jungla. El Low Cost Llega a las Finanzas)

– Aliah T.Gill (CEO & Founder The COLD Group, COLD Skincare)

Moderator:

– Yingzi Yuan (Founder and Builder at Metaverse Summit)

 

 

Panel 2: Future of gaming in the metaverse (P2E)

Speakers:

– Isidro quintana Ravelo (Founder at Triple-O games and Oxford Blockchain Foundation founding member)

– Juan Pedro Claudio (Co-Founder at Belher Digital Services)

– Francisco Asensi Viana (Senior Advisor at Spain Audiovisual Hub. Ministry of Economic and digital Affairs, Isdefe)

– Iskren Mitov (Founder & CEO at R.E.Z.)

Moderator:

– Amine Khalladi (Co-Founder at Plei, play to earn startup based in Madrid)

 

Panel 3: Metaverse Entrepreneurs

Speakers:

– Adonis Zachariades (Co-Founder and COO of Renovi)

– Luca Arrigo (Co-Founder at Metaverse Architects)

– Joy Katharina Lorck-Schierning (Co-Founder, COO, and Chief Fashion Director at SADBUNZ)

– Toño Cabanelas (Founder and CEO at Liveforevr)

Moderator:

– Fatemeh Monfared (Founder and Chief Metaverse Architect at Spaces)

– Monica Zeng (Web3 Ops Partner & Executive Coach, Former Director of Operations and People at Aragon One)

Kind reminder: This event request COVID pass or antigen test to participate.

————————————————–

About Metaverse Summit

 

https://metaverse-summit.org/

Conference

Experts from every industry will come together. Share ideas with others in your field, meet your future business partner, or seek advice from people who’ve done it all before.

Networking

Metaverse Summit brings together the people, organisations and companies redefining the future of creativity and technology.

Pitch

We welcome the project builders and startups who are tackling the big challenges facing industry today.

 

4 Metaverse Tracks

Mapping the metaverse needs transversal knowledge across technology, culture, social and entertainment. Throughout these four tracks of Metaverse Summit, you will have a comprehensive overview of all you need to know to be part of the future.

  • SOCIAL & INTERACTIVITY

Explore UGC-focused social worlds users and businesses can explore, create, socialize, and participate in a wide variety of experiences.

  • WEB3 & DECENTRALISATION

Explore digital ownership and how to create, store, sale, protect and manage digital assets, such as virtual goods and currencies, as connected to user data and identity.

  • GAMING & REAL-TIME 3D

Explore how to establish persistent, real-time connections in immersive digital and often three-dimensional simulations, environments; and technologies used to access, interact with the Metaverse.

  • MIXED REALITY

Mixed reality is the merging of real and virtual worlds to produce new environments and visualizations, physical and digital co-exist and interact in real time. In this track, we’ll talk about AR, VR, and other format of virtual worlds.

Register for online METAVERSE HACKATHON .

 

Categories
Metaverse Blog Metaverse Masterclass

[Metaverse Masterclass] Axie Infinity Dev Journal: Economic Balancing

“Metaverse Masterclass” is a series of reports, articles and interviews from experts around different topics in Metaverse. This is an article by Axie Infinity here.

We should collectively work to improve the economic balance of our community assets. We’d like to provide a framework to start this conversation.

One of the most common topics of conversation within the Axie Infinity ecosystem recently is around the Smooth Love Potion (SLP). We’ve been amazed by the level of thoughtful input you all have shared with us, and we also empathize with many of your concerns. That said, we wanted to write to you all in the new year with the hope of sharing some history, some statistics, and some of our current thinking as we further develop the economic models around SLP.

We released SLP in December 2019 as a utility token which enabled Axie breeding. While its core purpose was humble, the community’s response to SLP’s release made it clear quite early on that something very special in game economy history was occurring. These evolutions in SLP’s use in tandem with the explosive growth of 2021, has driven both incredible growth in the liquidity as well as some fundamental inflation in the token over time.

To put things in perspective, the average amount of SLP burned per day has grown over 500x (50,000%) through 2021! However, that must be contrasted with breakneck SLP creation, which historically has consistently outpaced its use, and has additionally grown over 160x (16,000%) over the last 12 months. Today’s data shows a growing chasm between SLP minted vs. SLP burned (Figure 1). This inflation in the token is not sustainable.

Figure 1: Daily SLP burn, mint and net emissions 

The primary complexity in economic balancing of SLP comes from the difficulty in predicting future player growth alongside timing further releases of products within our gaming ecosystem.  As hopefully you all know, we are working on a number of new gaming experiences, including the next generation of our battles experience (Origins) and a new land-based gaming experience (Project K).   Each of these games will include a number of new features that will affect the economy balance.  We’ve also invested significant time and effort over the past year into scaling our systems to accommodate the growth and build out the foundational blockchain components needed for our ecosystem (e.g. Ronin, Katana, Staking).  All of these efforts often have come at the sacrifice of improving our existing gameplay systems.  However, we want to reassure you that we are looking to prioritize experimenting with short-term approaches towards managing SLP’s inflation in the new year. 

Please know that we are listening to all of you. You all have given us a number of ideas to consider in the short term while the Sky Mavis team has come up with some as well. In short, SLP economics evolve with changes to its supply and demand. We wanted to review a few of the more popular shorter term supply / demand ideas emerging within the community:

Decrease supply:

  • Iteratively balance all in-game SLP rewards: The current alpha gaming experience continues to be refined on multiple fronts while player activity has evolved in surprising ways. As such, with the continuous balancing process, we may need to manually reduce SLP emission rates for daily quests, PvP, and PvE. Over the longer run, we’re hoping this can be adjusted more dynamically.
  • Change ratios of in-game incentives: SLP is not the only token within our ecosystem.  In fact, our long term vision is for a more equitable distribution of AXS rewards through gameplay.  We want top players to gain influence within our community.  We are evaluating ways to do this without inadvertently creating inflation problems for AXS as well. Unfortunately, we currently do not have the functionality to distribute AXS as a battle reward and so would need to spin off engineering effort from other projects to work on this. In the meantime, we are considering increasing AXS in Leaderboard rewards and reducing SLP rewards to high MMR players as one option.
  • Reduce SLP produced through non-skilled / automated / botting techniques: We received a number of recommendations from the community focused around reducing SLP rewards for parts of the game most vulnerable to automation or botting techniques.  Specifically, SLP won during PvE battles. This could occur in a few ways, including overall reductions in PvE emissions, or by updating the Daily Quest requirement splits to be more Arena focused over Adventure to make it easier for real players to earn.  This unfortunately isn’t a precise science, and it’s likely that some real people will earn less SLP because of this change. Another idea would be to require energy to earn SLP in PVE. This is currently not the case in that players can still hit the 50 SLP cap when they’re out of energy.

Increase demand:

  • Axie releasing / burning / consumption: This is a very significant feature that we have to be very careful around, and takes significant engineering effort to build. However, we plan on releasing some smaller tests this year to be able to validate the mechanic iteratively. Since the primary utility of SLP is to create new Axies, having this burning mechanism for Axies would increase demand for SLP (and AXS).
  • Community SLP buy back: We may allocate some of the Marketplace fee for a limited time to buy back SLP in the market into the Treasury. This would only be done in unique circumstances as maintaining the fee is important to sustainability of the Community Treasury. 

Needless to say, there are many factors we have to consider for each of these ideas, so ultimately we cannot make any promises as to which will be implemented. However, know that we are spending a lot of time and effort across our teams figuring out how we can make positive adjustments. It’s also worth noting that this above list doesn’t include all of the longer term ideas you’ve shared, including introducing Axie cosmetics and tournaments.

We’d like to hear from you.  Which of these approaches do you like best and why?  Are there others not mentioned here you think we should consider? Feel free to share your thoughts on Twitter using the #AxieEconBalance hashtag.


As a final note, we want to speak a bit about the MMR reset that happened earlier today for the Season 19 Off-season. First, we want to say that we originally planned to announce it with this blog post and made a mistake to reset it beforehand. We will learn from that misstep. 

We had looked into doing more granular MMR reset adjustments for different levels of MMR, but it wasn’t feasible given numerous factors and trade-offs (especially technical limitations). That said, this MMR reset will help make sure that SLP supply and demand are closer to balance. We observed that over time, MMR inflation was happening as the player-base grew, meaning more and more SLP was being produced each offseason. In addition, off-seasons have been increasing in time and length, especially now that we would like to release balancing updates in the middle of off-season rather than at the beginning of the season.

We saw that average SLP per PVP battle increased by ~40% over the course of Season 19 (from Day 1 to last day of the season). We believe that resetting off-season MMR reduces unnecessary supply, and ultimately leads to a more balanced SLP economy.

We want to reiterate that we care deeply about the economy and the Axie Infinity community. We spend considerable time thinking deeply about the tradeoffs between short and long term economic balancing. While we will continue to lean strongly towards the long term growth and sustainability of our ecosystem, we want you to know that we plan to shift some of our focus towards certain short-term issues that have emerged. We know it’s important.

Categories
Metaverse Blog Metaverse News

[Metaverse News] Coinbase : 10 Predictions for Web3 and the Cryptoeconomy for 2022

Coinbase published a prediction of 2022. It has mentioned the potential of NFT , DAO, end of march of web2 companies towards Web3. This article is originally published here, By Surojit Chatterjee, Chief Product Officer

2021 proved to be a breakout year for crypto with BTC price gaining almost 70% yoy, Defi hitting $150B in value locked, and NFTs emerging as a new category. Here’s my view through the crystal ball into 2022 and what it holds for our industry:

1. Eth scalability will improve, but newer L1 chains will see substantial growth — As we welcome the next hundred million users to crypto and Web3, scalability challenges for Eth are likely to grow. I am optimistic about improvements in Eth scalability with the emergence of Eth2 and many L2 rollups. Traction of Solana, Avalanche and other L1 chains shows that we’ll live in a multi-chain world in the future. We’re also going to see newer L1 chains emerge that focus on specific use cases such as gaming or social media.

2. There will be significant usability improvements in L1-L2 bridges — As more L1 networks gain traction and L2s become bigger, our industry will desperately seek improvements in speed and usability of cross-L1 and L1-L2 bridges. We’re likely to see interesting developments in usability of bridges in the coming year.

3. Zero knowledge proof technology will get increased traction — 2021 saw protocols like ZkSync and Starknet beginning to get traction. As L1 chains get clogged with increased usage, ZK-rollup technology will attract both investor and user attention. We’ll see new privacy-centric use cases emerge, including privacy-safe applications, and gaming models that have privacy built into the core. This may also bring in more regulator attention to crypto as KYC/AML could be a real challenge in privacy centric networks.

4. Regulated Defi and emergence of on-chain KYC attestation — Many Defi protocols will embrace regulation and will create separate KYC user pools. Decentralized identity and on-chain KYC attestation services will play key roles in connecting users’ real identity with Defi wallet endpoints. We’ll see more acceptance of ENS type addresses, and new systems from cross chain name resolution will emerge.

5. Institutions will play a much bigger role in Defi participation — Institutions are increasingly interested in participating in Defi. For starters, institutions are attracted to higher than average interest-based returns compared to traditional financial products. Also, cost reduction in providing financial services using Defi opens up interesting opportunities for institutions. However, they are still hesitant to participate in Defi. Institutions want to confirm that they are only transacting with known counterparties that have completed a KYC process. Growth of regulated Defi and on-chain KYC attestation will help institutions gain confidence in Defi.

6. Defi insurance will emerge — As Defi proliferates, it also becomes the target of security hacks. According to London-based firm Elliptic, total value lost by Defi exploits in 2021 totaled over $10B. To protect users from hacks, viable insurance protocols guaranteeing users’ funds against security breaches will emerge in 2022.

7. NFT Based Communities will give material competition to Web 2.0 social networks — NFTs will continue to expand in how they are perceived. We’ll see creator tokens or fan tokens take more of a first class seat. NFTs will become the next evolution of users’ digital identity and passport to the metaverse. Users will come together in small and diverse communities based on types of NFTs they own. User created metaverses will be the future of social networks and will start threatening the advertising driven centralized versions of social networks of today.

8. Brands will start actively participating in the metaverse and NFTs — Many brands are realizing that NFTs are great vehicles for brand marketing and establishing brand loyalty. Coca-Cola, Campbell’s, Dolce & Gabbana and Charmin released NFT collectibles in 2021. Adidas recently launched a new metaverse project with Bored Ape Yacht Club. We’re likely to see more interesting brand marketing initiatives using NFTs. NFTs and the metaverse will become the new Instagram for brands. And just like on Instagram, many brands may start as NFT native. We’ll also see many more celebrities jumping in the bandwagon and using NFTs to enhance their personal brand.

9. Web2 companies will wake up and will try to get into Web3 — We’re already seeing this with Facebook trying to recast itself as a Web3 company. We’re likely to see other big Web2 companies dipping their toes into Web3 and metaverse in 2022. However, many of them are likely to create centralized and closed network versions of the metaverse.

10. Time for DAO 2.0 — We’ll see DAOs become more mature and mainstream. More people will join DAOs, prompting a change in definition of employment — never receiving a formal offer letter, accepting tokens instead of or along with fixed salaries, and working in multiple DAO projects at the same time. DAOs will also confront new challenges in terms of figuring out how to do M&A, run payroll and benefits, and coordinate activities in larger and larger organizations. We’ll see a plethora of tools emerge to help DAOs execute with efficiency. Many DAOs will also figure out how to interact with traditional Web2 companies. We’re likely to see regulators taking more interest in DAOs and make an attempt to educate themselves on how DAOs work.

Thanks to our customers and the ecosystem for an incredible 2021. Looking forward to another year of building the foundations for Web3. Wagmi.