Expert Takes: Chris Dixon

How have technology advancements led us to the metaverse, and where is it going next?

When sci-fi author Neal Stephenson coined the term “metaverse” in his 1992 novel, Snow Crash, 3D multiplayer games had simple graphics and supported interactions among only a few players. Today, hundreds or even thousands of players can interact in the same virtual world, and audiences for games number in the hundreds of millions of players.

Soon enough, digital worlds will have lifelike graphics, audience sizes will continue to grow, and people will spend more time in game worlds. High-quality virtual reality headsets will be common. Haptic interfaces that provide physical feedback will make the experience even more realistic. Artificial intelligence will create an abundance of rich characters, worlds, and other content. Blockchains will enable digital property rights and provide the necessary infrastructure for an open, decentralized metaverse.

What is the best underlying architecture for a metaverse?

I believe the best model would be an open metaverse made up of composable blockchain networks, which themselves interoperate to form a meta-network. Creators could build applications on top of these blockchains, and set up shops to sell their wares, keeping most of their earnings for themselves. They would have a rich design space to work in, including new elements enabled by blockchains like persistent, transferable ownership and economies that span across networks. Digital property rights would be guaranteed by persistent, blockchain-enforced rules. Governance and moderation would be managed by the community.

How important will the metaverse be to our “real” lives?

As the quality of virtual experiences improves, digital interactions will spill over into the physical world. You might make friends, meet a future spouse, or get a new job in “virtual” reality. As more of the economy moves online, more jobs will exist solely in online worlds. The distinction between work and play will blur. What happens in digital worlds will have consequences and meaning in the physical world, and vice versa. Fostering the growth of an open metaverse built on blockchains would ensure our digital worlds remain egalitarian, democratic, and permissionless.

This interview is from our first opus, released in June 2024. You can read the full opus here on our website.