Don’t Invest in Bitcoin,Cryptocurrencies,NFTs, the Metaverse, and Web 3, Without This Book by Gucc Jay

Author:Gucc, Jay
Language: eng
Format: epub
Published: 2022-04-15T16:00:00+00:00

Qualms About the Metaverse

The Metaverse is far from perfect. There are possible setbacks, as is natural with any technological innovation. Some people are already having some qualms about whether the Metaverse will succeed. Here are some of the probable setbacks:

● Issues with intellectual property infringement

When users create content assets based on existing assets in the real world, then this may pose some copyright infringement issues. If one owns the intellectual property rights of a logo in the real world and somebody uses it to create content in the Metaverse, can the registered owner of the logo file a suit?

With the arrival of Metaverse, it will be almost impossible to police copyright infringements.

● Data protection and privacy violations

Data protection and privacy prove to be a challenge in the real world. How much more so in the Metaverse? Therein lies the challenge of protecting personal information and sensitive information in the Metaverse. Each company must strive to strictly adhere to data protection and privacy measures to avoid violation of their personal privacy, potential identity theft, and other types of fraud.

● How to apply laws in the Metaverse

The decentralized feature of the Metaverse would mean that users will have no legal and regulatory boundaries. But how do we address infractions such as copyright violation, identity theft, or fraud? Will there be an international law that shall govern the citizens of the Metaverse?

● Issues surrounding the legal currency to be used in the Metaverse

There are thousands of cryptos, so which of these will be the currency in the Metaverse? The challenge lies in convincing users of which currency to trust as a mode of payment and store of value, just like fiat currency.

● Concept of time perception

Immersion could unconsciously lead users to spend more time inside the Metaverse, forgetting time in the real world. Due to the possibility of distorted time perception, developers of Metaverses must set up a mechanism to keep users in check with the real world.

● Possible rise in carbon dioxide due to widespread adoption of Metaverses

The massive amount of energy that will be used in the Metaverse may cause a big carbon footprint. However, Meta and Microsoft, the two leading companies that are into Metaverse projects, already pledged to commit to renewable energy and net-zero emissions.

These are a few qualms presented by Metaverse skeptics, but some may prove to be serious challenges that developers must address. Even so, there are more reasons to be excited about the Metaverse, as it has already begun. We’re starting to see a virtual world coming to fruition, and many people project that it will be perfected by the year 2030. The development of different Metaverse projects is already underway, and they will continue from 2022 onward.

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