Metaverse of a Million Businesses
But it’s not enough to create a new socio-economic contract but we also need to create an environment and technology, where businesses small and large can create digital experiences that contribute to their most important revenue streams without having to change their core behavior. This is again, where most Metaverse projects made a colossal mistake in the First Wave: launching NFTs that represent art with vanity value and artificial scarcity does not contribute to core businesses, utility and value creation, it’s mainly running on speculation and can provide with an additional revenue stream at best during a bull market and using sophisticated marketing strategies. Web3 applications without utility do not work over the long term. Just like in the late 90s, internet startups that didn’t connect directly to revenue generation were bound to fail - and they did in the Dotcom Bust.
In order to succeed in the grand vision of creating a new kind of internet, we need to create an environment that can host millions of businesses within a decade. This can only be achieved through decentralization, so innovators and entrepreneurs are motivated to build their own solutions within the Metaverse and blur the lines between creators and consumers. This drives the core strategy of Next Earth and being an Earth-based Metaverse helps, because maps have always been the most fundamental tools for human collaboration and it’s likely that they always will be.