The Decentralized Metaverse

Slowly but surely, the Internet is moving into its next era known as Web3:

Web2 refers to the version of the internet most of us know today. An internet dominated by companies that provide services in exchange for your personal data. Web3, in the context of Ethereum, refers to decentralized apps that run on the blockchain. These are apps that allow anyone to participate without monetising their personal data. – Ethereum.org

Although there is a lot of debate around whether or not the metaverse must incorporate the blockchain in some capacity, I firmly believe that the blockchain is a necessary part of bringing about a truly open metaverse.

I lay out my support for this argument in Chapter 2 of The Metaverse Handbook, but the basic gist is that without blockchain we cannot create democratized virtual economies. The blockchain allows us to create trustless digital transactions which will remove the centralized Big Tech powers that extract value at every point of the Internet. Under the blockchain, the metaverse will be able to flourish independent of any singular company’s control.

This is the fifth installment of my series of notes on Metaverse Builders: The Companies Driving Metaverse Innovation. The previous four notes are:

1. 70 Ways to Experience the Metaverse
2. Metaverse App Stores
3. The Metaverse Creator Economy
4. The 3D Software Behind the Metaverse

Metaverse Decentralization

Metaverse decentralization is everything that is moving more of the ecosystem to a permissionless, distributed, and more democratized structure.

Blockchains

• Algorand – Proof-of-Stake blockchain
• Avalanche – Proof-of-Stake blockchain focused on scaling smart contracts and dApps (Ava Labs)
• Boba – Layer 2 Ethereum scaling solution
• Cardano – Proof-of-Stake blockchain
• Elrond – Blockchain platform for dApps, enterprise, and Web3
• EOSIO – Open-source blockchain platform for building digital infrastructures
• Ethereum – Proof-of-Stake blockchain powering a vast majority of Web3 development
• Flow – Blockchain for Web3 communities and economies
• Harmony – Layer 2 Ethereum blockchain platform meant for scaling Ethereum development
• Hedera – Proof-of-Stake public network powered by hashgraph
• Immutable – Layer 2 scaling solution for NFTs
• IOTA – Feeless distributed ledger
• Klaytn – Blockchain dedicated to metaverse applications
• Polygon – Layer 2 Ethereum scaling blockchain
• Ronin – Ethereum sidechain used for Axie Infinity
• Solana – Blockchain
• Tezos – Blockchain
• Theta Network – Web3 blockchain infrastructure for video, media, and entertainment
• Xaya – Purpose-built blockchain for hosting blockchain games

Crypto Wallets and Exchanges

• AAG – Crypto wallet & GameFi management software for guilds
• Binance – Crypto exchange
• Coinbase – Wallet and exchange for crypto and Web3 assets
• Exodus – Crypto wallet
• Fortmatic/Magic – Customizable Web3 wallet
• FTX – Crypto exchange
• Gemini – Crypto exchange and wallet
• Gnosis Safe – Multisig crypto safe that allows multiple managers of a crypto wallet
• Ledger – Hardware crypto wallet
• MetaMask – Crypto wallet and gateway to blockchain apps (dApps)

Web3 Development and dApp Platforms

• Alchemy – Multi-chain compatible Web3 development platform
• Cartesi – An operating system for blockchain, making web3 development simpler
• Consensys – Ethereum product suite for building Web3 applications
• Crucible – Tools for metaverse builders and creators
• Fantom – Fast, high-throughput smart contract platform for dApps
• PlayDapp – Technology bridge for onboarding non-crypto users into blockchain games
• Polkadot – Web3 interoperability platform
• Ready Player Me – 3D avatar builder for the metaverse
• Stardust – Helping game developers add Web3 elements to their games
• Tafi – Avatar and 3D content builder
• Venly – Suite of tools for integrating blockchain into games, services, etc.

NFT Related Services

• Bitski – NFT wallet integrated with thousands of Web3 apps
• Enjin – Product ecosystem for developing virtual economies
• Fireblocks – Digital asset custody, transfer, and settlement platform
• Magic Eden – NFT marketplace on Solana
• Makersplace – Digital art marketplace
• MetaMundo – Metaverse marketplace for 3D collectibles
• Neuno – Digital fashion marketplace
• Nifty Gateway – NFT marketplace
• OpenSea – NFT marketplace
• SuperRare – NFT marketplace

Miscellaneous

• Brave – Privacy-first web browser that rewards users with BAT tokens
• Dapper Labs – Building decentralized gaming products
• DFINITY – Non-profit contributor to the Internet Computer blockchain
• Evernym – Build and deploy self-sovereign identity solutions
• OpenXR – Open, royalty-free standard for access to virtual reality and augmented reality platforms and devices
• Ubuntu – Open-source operating system on Linux
• Web Assembly – Virtual machine platform