Ethereum co-founder predicts that metaverses will be a full version of the Internet

ConsenSys CEO and Ethereum co-founder Joseph Lubin believes that in the long term, Web3 and the metaverse will be an indispensable part of everyday life. However, the expert agrees that this area has not yet become an accessible space, although large companies are already showing an active interest in new technologies.

Existing metaverse projects have many shortcomings due to flaws and technical difficulties. But in the future, digital worlds will be a full-fledged version of the internet, providing an absolute effect of immersion in the virtual space.

“The metaverses today are like the internet in 1994. This is when you connect to it, leave for breakfast and coffee, and when you return, your email is still loading. Now the user experience in Web3 is not so attractive, but soon the masses of people will enter this industry,” said the head of ConsenSys.

Lubin also pointed out that today platforms are being developed to help create the effect of presence in the virtual space, which is a positive moment. Considering that users spend a lot of time on the web, Web3 will provide technical capabilities with which almost any activity can be realized in virtual reality.

And Suresh Kumar, a top manager at Walmart, predicts that cryptocurrencies will be the driving force behind a technological breakthrough in the context of the availability of payment instruments for the purchase of digital and physical products. According to him, in the future, a significant part of users will trade in the metaverses and in social network applications.

“When you talk about the crypto industry, it’s either about the discovery of new physical and virtual products of the metaverse, or about payments and smart contracts,” said Walmart’s CTO.

Walmart recently launched two projects at once in the popular Roblox metaverse. We are talking about several virtual activities, in particular, these are games, a DJ booth, a Ferris wheel and digital products, which are called “verts”, for user avatars.

What do you think about the prospects for the development of the metaverses?