Tehran(Bazaar): Patrick Hiebert founder Maven NFT Marketplace in interview about Metaverse with Bazaar News Agency said : Ultimately there will be more of a consolidation among Cryptocurrencies as well and the strongest will survive.
Following is the full text of the interview:
Bazaar: How do you see the future of Metaverse technology?
Hiebert: I believe Metaverses will ultimately be very popular, not just a place to play, but as a place to carry out business, or pay your bills, etc. For example, we are working on bringing our Maven NFT marketplace (MavenNFT.io) into the Metaverse as a storefront. And we are working on having property titles/deeds be NFTs. So you could purchase a real, physical home as an NFT (smart contract on the blockchain) and then go into the Metaverse to pay your property taxes for example. You are then paying for real world things inside a virtual world.
Currently Metaverses are becoming very popular. But I am sure there will be a consolidation of them over time. Just like there used to be many online shopping sites, ultimately it has consolidated to the point where most people use Amazon.
Bazaar: Which countries have invested more in this area? And are they leaders in this field?
Hiebert:Well clearly El Salvador is the leader in the crypto and NFT space. But other countries will be catching up soon, especially in Central and South America. But making the leap from Cryptocurrencies to the Metaverse is a big one for countries. But I do see countries beginning to use a Metaverse as a tool for things like I mentioned earlier, such as collecting property taxes, or corporate income taxes, etc.
Bazaar: What effect does Metaverse have on the digital economy?
Hiebert:Currently the Metaverse impact on the digital economy is mostly through creating a demand for their own coin. For example, Decentraland, one of the most popular Metaverses, uses Mana as its own cryptocurrency. You can purchase virtual land and build structures inside Decentraland using Mana as the funds. So that creates a demand for Mana and has made its value rise enormously.
In the future I see Metaverses becoming much more popular as the lines between reality and virtual reality are blurred. For example you may purchase airplane tickets for a vacation in the real world at a shop in a Metaverse. Or you may go shopping for groceries in the Metaverse and have the same actual groceries delivered to your home. Even today you can go to a virtual music concert like the one Justin Bieber just had in a Metaverse. So, somethings you may want to do in virtual reality and some things in the real world. I think the real explosion will happen when augmented reality becomes more popular. Special glasses that can superimpose virtual things onto your reality make this possible. For example, you could be looking at your car engine and the augmented reality glasses can superimpose an image of the car part you need to replace and where it is on the engine. This kind of blending of the two worlds will become very powerful.
Bazaar: What effect does it have on cryptocurrency investment?
Hiebert:Ultimately the “winner” in the consolidation race for Metaverses will have their own coin be very popular. We at MavenNFT.io are betting on Bitcoin and it’s sidechain Liquid which allows for NFTs to be recorded on the blockchain as well. So we are focusing on Metaverses that use the Bitcoin blockchain. But over the next years there will be enormous competition among Metaverses to get your attention. This will also create a battle between all the different coins that are used in these various Metaverses. The competition is good for the cryptocurrency world. It weeds out the coins that have no reason to exist and brings in more interest from investors who see opportunities to make huge returns investing in various coins.
Ultimately there will be more of a consolidation among Cryptocurrencies as well and the strongest will survive. These major currencies will begin to replace fiat as the standard currency people use for everyday life. Transactions with Cryptocurrencies are so easy to do, very safe, virtually anonymous, very quick and basically fix all the things that make bank wire transactions tedious. And when these transactions are done in the Metaverse then it becomes even easier without the need to even physically leave your home.
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