The Role of BTC in the metaverse?

[Wenbing]

I have been thinking about this for sometimes.

If the metaverse becomes a reality, what will be the significant roles of crypto in its economy?

If crypto such as bitcoin, Mana, Sand are used as means of transaction in the metaverse what will be the reaction of the government?

[SquirrelJulietGarden]

Metaverse are buiding on smart contracts so the role of BTC in Metaverse ecosystem is small. It has overal effect and very big role in a crypto market in which Metaverse is part of the ecosystem. So we can not deny a big role of BTC even it has indirect role.

In future, we might see bigger role and engagement of BTC in Metaverse because we already see more DeFi for Bitcoin. DeFi has no longer limited to ERC20 or BSC, now it is expanding to Bitcoin network.

Soon we will see BTC in Metaverse ecosystem with bridges and new technologies.

[mindrust]

I have been thinking about this for sometimes.

If the metaverse becomes a reality, what will be the significant roles of crypto in its economy?

If crypto such as bitcoin, Mana, Sand are used as means of transaction in the metaverse what will be the reaction of the government?

Metaverse is a virtual universe and bitcoin is the best currency of the internet. People will either use ETH or BTC as their main payment method. BTC is slower and more expensive than the others sometimes but since it is the safest, it will always be used the most by the people. I don't know what Mana and Sand are all about though but I don't think they will be as popular as BTC.

[Fesatmas]

So far I have not been able to imagine what it would be like if Bitcoin later had in the metaverse ecosystem. Because this can certainly change some core things, such as the bitcoin network, which will be more congested and congested. Maybe over time there will be many updates made by developers on this matter. But until now that possibility has not materialized if in fact Metaverse is only in the shadows and not necessarily fully run smoothly on any network. Even we ourselves have not been able to implement virtual 3D which is always crowded until now.

[mk4]

Centralization and being custodial aside, obviously the only way for bitcoin to be in the Ethereum/alt-L1 ecosystem is to be through the likes of wrapped bitcoin(WBTC). There's really no way around it as far as I know.

[avikz]

I have been thinking about this for sometimes.

If the metaverse becomes a reality, what will be the significant roles of crypto in its economy?

If crypto such as bitcoin, Mana, Sand are used as means of transaction in the metaverse what will be the reaction of the government?

Bitcoin is a dinosaur and we are still experiencing the pre-historic era in cryptospace. So there are few centuries left for bitcoin to rule the market as the most dominant and valuable crypto.

Metaverse is a different concept. Bitcoin is not specifically built for Metaverse. To be able to function in metaverse, bitcoin jeeds to have a smart contract facility which unfortunately is not present. So I foresee a rise of small cryptos like SAND, MANA, UPS etc built specifically on purpose.

But no matter whatever happens in metaverse, cryptos like bitcoin will remain as a layer among metaverse and real world. That's the only and most valuable role bitcoin will play here.

[pooya87]

Metaverse are buiding on smart contracts so the role of BTC in Metaverse ecosystem is small.

In the sense that "metaverse" is the imaginary hypothetical part of the virtual internet, you are right bitcoin has little role in that part, useless tokens reside in fairyland. In real world on the other hand bitcoin is dominating.

[witcher_sense]

It seems that social distancing, lockdowns, vaccine mandates, and other restrictive measures have done so much damage to humanity that people are now seriously talking about the benefits of living in an imaginary world. Unfortunately, bitcoin was created to deal with the economic problems of the real world, not an imaginary universe.

In the sense that "metaverse" is the imaginary hypothetical part of the virtual internet, you are right bitcoin has little role in that part, useless tokens reside in fairyland. In real world on the other hand bitcoin is dominating.

I agree. The creators of altcoins and other fiat/shitcoin proponents have suddenly realized they cannot outcompete bitcoin in the real world: that is why they created their virtual pocket version of the universe to set their own rules there.

[davis196]

I still can't figure out what would be the main benefit of this "metaverse" thing for the human kind.
All the nerds and geeks will have one more excuse to sit in front of their computers 24/7 and stay socially dysfunctional,rather than going outside their homes and having a real life.
All the people,who have "internet addiction" will definitely be exploited by the creators of the so called metaverse.What's the point of having a virtual life,when your real life is shit?
Should we be worried that Bitcoin won't have a dominating role in the metaverse?
Nah,the metaverse is going to be BS anyway.

[dansus021]

i think the true role for metaverse is people keep buying btc for hodl since crypto/altcoin will be the backbone of metaverse bitcoin playing role as storing value of asset, bitcoin for the first/mother of crypto so even tho lets says BNB will become paying transcation in all metaverse world bitcoin will not vanish

I still can't figure out what would be the main benefit of this "metaverse" thing for the human kind.
All the nerds and geeks will have one more excuse to sit in front of their computers 24/7 and stay socially dysfunctional,rather than going outside their homes and having a real life.
All the people,who have "internet addiction" will definitely be exploited by the creators of the so called metaverse.What's the point of having a virtual life,when your real life is shit

  metaverse is future  but to be honest metaverse maybe just like gaming in VR in next year or so

[mk4]

metaverse is future  but to be honest metaverse maybe just like gaming in VR in next year or so

VR might be the future of meetings and talking to friends overseas and such, but probably not the literally-everything-tokenized kind of stuff that's causing the hype on SandBox and Decentraland. That's just silly.

[NeuroticFish]

If Zuckenberg/Fb/Meta will get a big slice of that metaverse-to-be, I would not be surprised if his coin-to-be will be pushed there.
Somebody has to make it happen. And it depends greatly on his choice of "money", hence it has better chance to be some centralized shitcoin (or fiat) at start. Afterwards... we'll see...

[dzonikg28]

I have been thinking about this for sometimes.

If the metaverse becomes a reality, what will be the significant roles of crypto in its economy?

If crypto such as bitcoin, Mana, Sand are used as means of transaction in the metaverse what will be the reaction of the government?

Metaverse is a virtual universe and bitcoin is the best currency of the internet. People will either use ETH or BTC as their main payment method. BTC is slower and more expensive than the others sometimes but since it is the safest, it will always be used the most by the people. I don't know what Mana and Sand are all about though but I don't think they will be as popular as BTC.

You never know whether by the time that met averse becomes a reality there might be a cryptocurrency more suited for the usage within that ecosystem. But keep in mind that Zuckerberg will be one of the major players in making the metaverse develop and grow. He is heavily investing in AR and VR, but he is not the biggest Bitcoin friend. Instead, as we remember, he wanted to establish his own digital currency and I can imagine that is still working on that plan. I guess if he runs a lot of the metaverse infrastructure he might also have possibilities to at least suppress the usage of Bitcoin to a certain degree (or provide incentives to use his stuff).

[meanwords]

I have been thinking about this for sometimes.

If the metaverse becomes a reality, what will be the significant roles of crypto in its economy?

If crypto such as bitcoin, Mana, Sand are used as means of transaction in the metaverse what will be the reaction of the government?

Depends on the one who build that metaverse. There's obviously going to be variety and most likely that developers will have their own idea of the currency that they will use in their world. Unless developers can solve the fees and transaction speed, then I can't see Bitcoin being used in a metaverse (assuming that we have the tech to do this with the current state of Bitcoin).

[franky1]

The good news (for you), metaverse is merely a concept and can't be realized with today's technology.

so dragons tale was not a thing?
http://www.dragons.tl/games.php

i said back in 2013-14ish that dragons tale could have been expanded into not just gambling using sats but actually let users add more content like uploading images of products they sell which can be seen ingame and users can buy them and message delivery location.(3D ebay)

it is possible and graphic render detail has moved on since the days of dragon tale.

Unless developers can solve the fees and transaction speed, then I can't see Bitcoin being used in a metaverse (assuming that we have the tech to do this with the current state of Bitcoin).

the obvious route..
facebook acts as custodian. like exchange deposits. then you make micropayments within your  custodian account offchain.
heck, knowing the plan some devs have. maybe even users can become the exchange 'hubs'
yes it wont be a 'all onchain' thing, because then how will facebook take their cut. facebook dont work for free

[noormcs5]

I have been thinking about this for sometimes.

If the metaverse becomes a reality, what will be the significant roles of crypto in its economy?

If crypto such as bitcoin, Mana, Sand are used as means of transaction in the metaverse what will be the reaction of the government?

Again, governments would not support the use of crypto in the metaverse technology but they would have no option in the end. Bitcoin will be the king of crypto however we may have many more and more metaverse coins in the coming future. I think Facebook is yet to launch its won meta verse coin soon.

[dzonikg28]

I have been thinking about this for sometimes.

If the metaverse becomes a reality, what will be the significant roles of crypto in its economy?

If crypto such as bitcoin, Mana, Sand are used as means of transaction in the metaverse what will be the reaction of the government?

Again, governments would not support the use of crypto in the metaverse technology but they would have no option in the end. Bitcoin will be the king of crypto however we may have many more and more metaverse coins in the coming future. I think Facebook is yet to launch its won meta verse coin soon.

This is a real danger as Facebook controls so much already. It would feel a bit odd if a private company like Facebook is the one in the end that controls the world's currency movements with their own currency. Facebook is powerful and rich, so the question will be whether policymakers are going to interfere with Facebook's plans.

https://www.youtube.com/watch?v=gElfIo6uw4g

In that video Zuckerberg says that privacy and safety will be built into Metaverse from day one, but to be honest how much do we even trust Facebook by now? There is one whistleblower after another talking about how ruthless Facebook really is and how they exploit private data, even reading our messages all day long on all platforms. Facebook, WhatsApp, Insta etc.

[kryptqnick]

Op, could you clarify what you're referring to as Metaverse. Do you mean this concept that Wikipedia outlines as an expansion of technologies, basically? Some might think it can be about Meta (which is also sort of referring to Metaverse) in a sense of the new Facebook company's name. I can see that there's been interestingly very recent articles (a few hours ago) which tend to also refer to both, as well as add Blockchain and cryptos to it.
I think that the answer to the question of the role of BTC heavily depends on what we put into the sense of metaverse, and who's building it. If it's Facebook, they'll surely see LirbaDiem as central to its economy, not Bitcoin. If we're talking about the general notion, Bitcoin may well be a part of it.

[SquirrelJulietGarden]

In the sense that "metaverse" is the imaginary hypothetical part of the virtual internet, you are right bitcoin has little role in that part, useless tokens reside in fairyland. In real world on the other hand bitcoin is dominating.

Metaverse is a metaphor for something in future. To be honest, for now I can not imagine exactly what Metaverse will be in next years. Projects say about it a lot but I believe even they can not know what their Metaverse ecosystem will look like and how it will operate.

They are only imagine about it and their plans can be done or failed. Their imagination can be something untrue and unrealistic. Metaverse projects are hot now because of hype. To be realistic, it is not safe to invest in Metaverse projects if they are created by unknown teams. Hot Metaverse projects now can be only on paper, no code behind and they only have attractive, fantasy graphics to steal money from greed investors.

[dothebeats]

Depends on what people in the metaverse want to do. Most of them would surely pick coins and tokens that are fast and seamless in transfers, and bitcoin wouldn't really fit the bill. Though it can be used as a governance token, but only to some extent.

Personally I'm not really buzzed about the metaverse being a reality. It's just a word that they're using to attract a lot of people into whatever tech they are developing. We are headed for digitization of most things anyway, so no matter what they call the future, it'll happen anyway.