met-5.jpeg.webp

Meta, whose shares plummeted 20% due to poor financial results in the fourth quarter, is using most of its earnings for the Metaverse. Is its idea of a centralized and controlled metaverse antithetical to the idea of what a metaverse should be?

Zuckerberg's Facebook, now known as Meta, has seen its user base fall for the first time in 18 years. With platforms like Tiktok taking away many users, Meta is struggling to stay relevant as younger generations see it as a platform out of touch with older people.

The negative press of hacks and scandals involving user data over the past few years has not helped the social media giant's case. The question now is whether entering the Metaverse is a planned response to how the future is shifting in that direction, or a desperate attempt by Meta to realize that the tide is turning against it.

So far, the successful strategy of large companies such as Facebook has been to provide a closed ecosystem that users rely on and depend on completely.

So Meta's strategic management mindset may be consistent with their vision for the Metaverse, where they will control access and generate revenue from everything that happens internally.

It is curious, however, how eager people would be to enter a meta-universe where everything is controlled by the company, including all their data and privacy, and the risks inherent in such a centralized system.

True decentralization has to be the answer here. Yes, Meta will help build some structure and tools because it has a lot of resources, both money and brainpower. But putting it in charge will only return to the problems that have plagued it in recent years.

According to an article published on the Cryptobanter platform, Ryan Selkis, CEO and co-founder of cryptocurrency research platform Messari, says four decentralized elements are needed: computing power, storage, governance, and money.

All of these elements are currently provided by various decentralized projects in the cryptocurrency space. Without corporate or government control, perhaps people may be able to control their privacy, data and money all at once. A future that is definitely worth fighting for.

Disclaimer: This article is for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.