Wednesday, May 22, 2024

Coinbase defines its role in the Metaverse, stating that its goal is to keep it free and open

The metaverse will grow significantly in 2022, according to various reports, surveys, and expert opinions. As web 3 grows and matures, it will bring many people into the metaverse. However, the threat of monopoly still lurks around the corners, and many fear the entry of tech giants like Meta (formerly Facebook) into the metaverse. When web 2 was at its nascent stage, similar fears were projected, and they ended up becoming worse than expected. Ethical developers around the world do not want the same predicament for web 3, and crypto giant Coinbase recently supported this view. While talking about entering the metaverse space in its own blog, Coinbase reiterated that its goal is to keep the metaverse open and free for all. While Coinbase has not spoken about their exact steps, the general idea they project comes out as altruistic.

Metaverse became a subject of public discussions following Facebook’s rebranding into Meta. However, the concept of the metaverse is neither invented nor promoted by Meta. In fact, projects like Enjin, Decentraland, and Sandbox have worked in this sector for quite some time now. Unfortunately, they do not get a fraction of the media attention and many people do not know about their existence. Being a tech giant itself, Coinbase believes it can divert media attention to independent organizations working in the metaverse at different scales. At the same time, Coinbase will ensure that the metaverse is open for everyone and no one claims a monopoly over it.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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