On: Facebook plans to change its name as part of compa...

[jugg1es]

I can't think of a worse company than Facebook to be the first one to create a legit metaverse. The appeal of the VR in Ready Player One was that it was created from a core of sincerity. Facebook's approach would create it around their business model, which is arguably poisonous.

[serverholic → jugg1es]

This is why Ethereum is so important. With technology like NFTs, it creates a common, standard platform for these companies to build on.

[Andrew_nenakhov → serverholic]

NFTs, aka StarCatalog 2.0 where you can pay some database owners to keep a record of your name next to some set of data?

[serverholic → Andrew_nenakhov]

Yes a database of digital assets that you control. Forcing facebook to use a standard instead of full lock-in is good IMO.

[_vbnz → serverholic]

How do NFTs help in any way?

[serverholic → _vbnz]

An NFT can represent any digital asset. Digital assets are a key part of any "metaverse".

If NFTs become the standard then you could theoretically take your assets off Facebook into another Metaverse without losing your items. NFTs help avoid lock-in and put pressure on Facebook to play nicely with others.

[nikk1 → serverholic]

I am shocked how this stuff hasn't made its way into HN yet. Everyone PLEASE DYOR and start by researching Cryptopunks and Bored Ape Yacht Club, you can spread out your NFT horizons from there.