Table of Contents
- The Key to Decentralising & Democratising Virtual Worlds
- Where Else Can We Find Models of Democratisation in the Metaverse?
- What Does a Decentralised & Democratised Metaverse Look Like?
- Democratised Digital Experiences: Enjoy in Your Own Way
In the early days of the internet, the world wide web was a wild west of information, with centralised institutions controlling both the flow of data and how online experiences should play out. As internet technology has advanced, so too has our ability to decentralise and democratise the web, often to great advantage. Today, terms like Web3, Metaverse, Decentralisation, Democratisation, and Virtual Worlds are on everyone's lips as we explore the possibilities of a more equitable, immersive, and fairly-distributed digital world.
Now, blockchains, dApps, NFTs and Metaverses are at the forefront of this movement, creating new spaces for us to explore, collaborate, and create in ways that were previously impossible. These digital playgrounds are not only part of the solution, but they are where like-minded thinkers unite to map out the next wave of ideas. “Web3”, “Decentralisation”, and “Metaverse” are more than just buzzwords - they're the building blocks of a newly democratised digital world.
The Key to Decentralising & Democratising Virtual Worlds
In decentralised virtual worlds, governance is often handled by the community itself, rather than a central authority. This is done smoothly through a combination of apps like Telegram, Discord, Signal, and the use of the Decentralised Autonomous Organisation (DAO). This means that players have more say in how the world is run, from the game's rules to the distribution of rewards. By giving players a voice, developers can create more engaging and inclusive experiences, while DAO governance motivates the players to become crucial to the evolution of the metaverses they use, through voting power and reward models.
Another key aspect of decentralisation, and one that draws in huge numbers of players, is the ability to earn real-world value from their in-game activity. With the rise of play-to-earn (P2E) mechanics, players can earn cryptocurrency or other digital assets by participating in the in-game economy. This has the potential to create more equitable and sustainable virtual economies, where players are rewarded for their contributions to the community, paving the way for digital meritocracies. It also helps to create players or users who are engaged for the long term, driving them to become champions of the game and stakeholders in its success.
Where Else Can We Find Models of Democratisation in the Metaverse?
Governance and earning are the primary methods, but making games more inclusive, engaging, and fair, is not as simple as that. Developers must immerse themselves deeper into user psychology to understand what drives digital experiences and makes players feel more like a part of the community than a client of their service. One way of accomplishing this is through avatar and asset ownership.
In a decentralised virtual world, digital assets like skins, weapons, and other items can be traded on the blockchain as non-fungible tokens (NFTs) NFTs have the potential to create new revenue streams for developers and players alike, while offering genuine, tangible ownership. This aspect is core to undoing the preconceived notion that we must buy our way to success in the gaming world, spending huge sums for downloadable content and asset packs that have no resale value.
It’s not just virtual assets either, in many metaverses, you own your characters and have the option to sell them, trade them, upgrade them, and experiment with different styles and strategies based on their attributes. As you evolve as a person, so can your character. In the metaverse, there will be nothing stopping a dragonslayer from one Metaverse racing F1 in another. The blockchain offers far greater autonomy for players and their avatars and in the future, players will be able to take their assets and avatars with them across different games and platforms, creating a more fluid and interconnected virtual ecosystem, where players can truly shape their own destinies.
What Does a Decentralised & Democratised Metaverse Look Like?
On the verge of reimagining what it means to be a metaverse is Heroes of NFT’s “Luminoria”. Having already had great success in the NFT space and with PvP play-to-earn games, Heroes of NFT (HON) are set to release a metaverse like no other. Beyond futuristic graphics, a thoroughly developed storyline, functioning tokenomics, and a huge community already playing their games and taking advantage of their DeFi tools, HON has something other metaverses can’t compete with. A real plan for democracy.
Community-first and transparency have been core ideals of this project, started by a group of real-life friends who wanted to take their childhood affinity for trading card games onto the blockchain. From their original idea, to a fully-functioning metaverse, this has been a journey that has brought them a great deal of buy-in, respect, and community along the way. It’s brought them closer together as a team too. They shared every milestone, went into depth about their personal journeys, and actively manage their flourishing communities. At the same time, they have handed over power and ownership to the community that allows them to dream, in the form of tokens, governance, and a considerable ambassador programme.
Now, with a team of ambassadors, a growing community of enthusiasts, and a huge amount of transparency about everything in development, they are ready for the next step of democracy. Virtual real estate. The upcoming land sale will not just give players the chance to own a little slice of their metaverse, it will give them a key to the kingdom and a seat at the table. Upon purchasing land, the buyer will be able to stake this unique virtual space into a 5-year plan that will return their investment. Unlike real-world estate where it can take decades to pay back a property loan, in HON’s metaverse, you pay upfront and the staking rewards pay you back for 5 years until your investment is returned. In the meantime, you can turn your land NFT (which is really a futuristic apartment) into your own, customising it and making use of your creative expression.
For other projects looking to democratise, the use of community-sourced ambassadors, transparent reporting, and an open-to-the-public land sale with staking rewards are a few innovative ideas to do so.
Democratised Digital Experiences: Enjoy in Your Own Way
Democratised and decentralised metaverses offer players the chance to enjoy gaming in their own way, not having to fit into a box or be limited by the fixed dynamics of a game, as has almost always been the case. Whether it's creating new content, participating in the game economy, or simply exploring a new world, players can engage with virtual worlds on their own terms, and with greater depth.
This new era will not be without its challenges. As developers embrace new models of governance and monetisation, they must also be mindful of issues like security, privacy, and inclusivity, as well as ethical and moral dilemmas. The benefits of decentralisation and democratisation are designed to be shared by all and ensure that virtual worlds remain safe and accessible to everyone.
One thing is clear: the possibilities are endless. With decentralised technology and virtual worlds, we can create a more equitable, sustainable, and engaging future for gaming. So let's roll up our sleeves, dive into the Metaverse, and see what the future holds.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.