Intro to the metaverse (Part 7 of 7): There’s more than one metaverse – why do we need multiple virtual worlds?

There’s already more than one metaverse, and there are many organizations both actively hiring and investing into the metaverse. But it begs the question: how many metaverses do we need, and how many will there be over the next five years?

What are the reasons behind having multiple metaverses, and how/why should we expect new virtual worlds to emerge? Here are some reasons why more than one metaverse might make a lot more sense in the short-term and long-term future.

Age-specific metaverses

We all know the metaverse can offer some incredible business opportunities, but what about when it comes time for children to learn in the metaverse? Some metaverses might be better off if they were walled off by age.

Of course, this can also help keep children safe from harassment or even grooming from potential predators. When you consider kids have already been able to sneak into virtual stripclubs, it’s easy to see why creating age boundaries around metaverses might be a smart idea for the future. 

If the metaverse wants to get serious about safety, it might be better to create metaverses specifically for children. It can also help keep underage users from metaverses with more “illicit” options, such as virtual stripclubs or metaverse casinos.

Liquidity, leverage, and risk

There are already multiple metaverses, and this is already better for those who might be investing in the theme of the “metaverse.” Let’s say one metaverse suffers a major security breach, or its token ends up plummeting because a key developer leaves, for example. If you bought virtual land in that metaverse, your investment might be in trouble. However, that could also lead to many brands switching over to a different metaverse rather than exiting all virtual worlds altogether. The existence of more than one metaverse allows for more leverage for investors, consumers, and competitors. 

Metaverses can also be created on different blockchains. Many cryptocurrencies are associated with a specific metaverse. The beauty of multiple virtual worlds means you can purchase and sell cryptocurrencies based on events or announcements that might affect their metaverse market share. For crypto investors, more than one metaverse is a huge plus.

Exclusive communities

We might like to think the metaverse will welcome all, but there will certainly be some exclusive areas. After all, just like the real world, many people value the idea of exclusivity. It’s one of the reasons fashion brands are investing so heavily into the metaverse and actively hiring for metaverse positions.

Many companies will be purchasing virtual land in metaverses like Decentral and Sandbox. However, there will be organizations with the reputation and resources to create their own metaverse, and you can expect this to happen over the next several years. Nike may have created Nikeland in the Roblox metaverse, but what’s stopping Nike from eventually rolling out its own metaverse?

Eventually, we may see more than one metaverse with entry barriers. One obvious entry barrier might be an NFT. A Gucci metaverse, for example, may require your avatar to be wearing Gucci NFTs as virtual clothes. Another possibility may be a metaverse dedicated specifically to a DAO organization.

While the metaverse hasn’t been adopted by the masses yet, one thing is for sure: more than one metaverse is necessary for all metaverses to thrive.