If the Metaverse is to follow Web 2.0, how should it be governed?

Group member names:

Wenya Li

Yahan Liu

Junyu Yao

Example 1:

The metaverse virtual world is currently a closed-loop ecosystem, which means that it lacks interoperability and composability if it follows Web 2.0. And access and realization opportunities from a web 2.0 user perspective are still lacking. The metaverse approach can be adapted from Roblox, a concrete example of a successful Web 2.0 incumbent, whose platform facilitates the creation and monetization of games by external parties. At the same time, the Roblox ecosystem aims to protect and monetize intellectual property and control the economic and revenue streams within the game, just as large corporations control the flow of products and capital.


Example 2

The Internet has enabled us to move from a search-only Web1 to a read-write Web2 for personalization and interaction. X METAVERSE PRO aims to facilitate Web 3.0 by leveraging the blockchain’s traceability, immutability, and anonymity.

X METAVERSE PRO is a blockchain-based decentralized video platform. It seeks to innovate and transform internet video from platform-driven to creator-driven, breaking the monopoly brought about by social media platforms. If the metaverse is managed in a web 2.0 way it is more like a technological regression and cannot be managed in a way that controls web 2.0 products such as computer mobile games to the metaverse.

Example 3

There isn’t any existing solution to govern Metaverse except China has adopted some policies and tried to regulate this new concept. Chinese regulators are a big threat to the country’s tech industry and its meta comic ambitions. This is why the Chinese metaverse platform will be different from the metaverse platforms in other parts of the world. Has severely limited the growth of platforms like Roblox that allow users to create experiences. China’s ban on encryption currency and the tactic of they governed the universe. Because most of the goods in the original universe are traded in the form of virtual currency. Finally, China protects the mental health of minors and the country’s traditions. This has led to regulation that has had an impact on China’s gaming and “virtual idol” industries.

Reference:

Mitselmakher, K. (2021, December 28). The “Metaverse” Economy: Journey from Web 2.0 to Web 3.0. Medium. https://medium.com/@bloccelerate/the-metaverse-economy-journey-from-web-2-0-to-web-3-0-8ad0b1af7f69 

PRO, X. M. (2022, September 11). X METAVERSE PRO, a video-centric, user-led, decentralized Web3 platform. Yahoo Finance. https://finance.yahoo.com/news/x-metaverse-pro-video-centric-030400927.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuYmluZy5jb20v&guce_referrer_sig=AQAAADwmwHmom4Syie57-YwSdmKKWqI2I1gtdMjyS8iagQ6P2ce96in9xVrB7LIj_SF4Zo9pG6piYrpczpZoBXZ1lWgnuy_JfThhcbmSDcBOpDTIxXtlSiaZETDSsOiuOknYfF68eiuTyUcu4vjHzTC0OAtIX9HfMyzk7MwiRLj3gG7R

 The Metaverse: Regulatory trends. (2022). Retrieved 14 September 2022, from https://www.verdict.co.uk/the-metaverse-regulatory-trends/