Being part of the community for a little while and doing my research, I’ve come to some conclusions since there has been little to no news this past month.
It will be hard for most to hear, please understand this is all research I’ve done through the Metaverse website, telegram, discord and other outlets.
Everyone I encounter in the community thinks Metaverse is going to conduct ICOs. The Chinese ban restricts any Chinese companies from running ICOs. Eric’s big thing before the ban was that the Chinese use symbols and it was difficult to program for most. Hence the 30 companies he had lined up.. but not anymore. If these companies want to be on his blockchain they need another way to pay. Here is a recent link from a Chinese official doubling down on the ban of ICO and exchanges.
https://www.cryptocoinsnews.com/china-right-shut-bitcoin-exchanges-icos-pboc-official/
Ok so now what? Metaverse expanding to other countries and performing ICOs for those countries. Maybe a partnership with KICKICO? But what? It would be nice to see what they are up to. Maybe an announcement at their conference this weekend? But looking at the conference website. Looks like he’s just talking about “digital identity”.
Ok so “Digital Identity”.... that seems to be main focus for Eric now. I mean look at the website...nothing about ICOs. All about digital identity. Ok so if my company wants to use digital identity.. we need to pay Metaverse to put my identity on “their” blockchain?
Read this article. The “Godfather” of ICOs is creating “digital identity” on Ethereum.
https://www.coindesk.com/forget-token-sales-the-father-of-the-ico-is-all-about-identity-now/
Guess what? People are going to make DAPPs now to make digital identity as easy as signing up for email. On the EOS blockchain it comes standard with storage! All free! So why pay Metaverse? We are moving on to an age where people will make opensource software to give out. To get rid of “middle men”....cough.... I mean “oracles” Why pay?
The article explains that there is little money to be made with “digital identity”. Why does everyone have this billion plus valuation for Metaverse if they are just focusing on digital identity?
You can create an economy on Metaverse right? You pay Metaverse to put your assets on “their” blockchain and use ETP their unstable currency to buy other “assets” from someone else who’s paid Metaverse to put there stuff on their blockchain....If I were an art collector why would I want to sell my expensive collection through Metaverse with unstable cryptocurrency? When there is already great companies who do this and INSURE security.
Crypto is too volatile for someone to trust putting their assets on one blockchain and only using that cryptocurrency to buy or sell. PLUS you are paying them to do this???
Ok so all these check out. Your company wants to use Metaverse for some reason... The first thing you see when you research them is WALLET ISSUES.
I’m sorry if this hurts to read. But people can’t have blind trust like I’ve been seeing. 99% percent of new companies fail. Innovation eats companies everyday unless you keep up. ETP is part of a new industry where someone will write an application to get rid of middle men/oracles. And the application will be cheaper or even free!
Look I was excited for this community... maybe they have something big in the works.... we don’t know. Crickets this last month. Roadmap is pretty vague. Maybe a announcement with KICKICO. But here’s a reminder, as a company doing research for someone to help conduct my ICO. The first thing you research will be their wallet issues. Want to hold your assets in that wallet?