The metaverse is Unbanked Newsletter For a weekly level up on the NFT and on-chain frontier
Dear unbanked nations,
rise of Smart open metaverse—What I call the intersection of AI, cryptocurrency, and virtual reality will lead to an explosion of cultural activity in the coming decades.
That said, one of the major stars on the AI ​​scene today is Midjourney. Midjourney’s technology provides the most amazing text-to-image conversion capabilities available today.
But already the Midjourney team is also turning its attention to VR and real-time world simulation, or creating life-like digital spaces.
There are a ton of potential use cases for this kind of generative environment and could provide the foundation upon which to build a wider range of smart open metaverses.
In today’s post, I’ll break down what I mean and some things to watch out for here!
-WMP
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The three current giants in AI text-to-image models are: in and 3, stability spreadand middle journey.
I try to look at all three of these (really amazing) tools and keep them up to date. One of my next favorites in terms of Midjourney is: Nick St. PierreMidjourney Creative director and AI expert providing great resources for tips, updates, and more.
Come to think of it, one of Nicks’s Recent Tweets It really caught my attention. Here he cited one of the latest office hours sessions to highlight the Midjourney team’s future plans.
“We’re really trying to get to world simulation. We’re building a 3D Midjourney, a video Midjourney, and a real-time Midjourney where things move really, really fast.
Put them all together and you get a world simulation. The goal is to build each of these three items separately and then bring them all together.
…more like a sandbox. “People will make video games and shoot movies there, but the goal is to build an open world sandbox.”
This is big news because it offers a glimpse into a future where complex virtual experiences are created on command through simple messages. These “no-code” UX changes will unlock and revolutionize how many virtual spaces are created and experienced, bringing explosive possibilities for new kinds of metaversal work and play.
Text-to-image AI models have their first big unlock here. Efforts to convert text to video and images to video Sora by OpenAI and Midjourney Video are the next steps. And real-time world simulation continues to be the Holy Grail. So the big question is whether Midjourney can pull it off.
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I think so. Midjourney’s open beta launched just 20 months ago, in July 2022, but the team has already generated more than $200 million in revenue and amassed more than 16 million users. This early war chest and traction gave Midjourney great insight and drive for continued innovation.
Additionally, Midjourney founder David Holz has significant experience in VR and augmented reality. he co-founder leap motion, a play on VR hardware before the Oculus headset. These realities, combined with Midjourney’s world simulation plans, suggest that: Midjourney may eventually release its own head-mounted display. (HMD) device.
So while world simulation may be a natural baseline for all current text-to-image AI efforts, I believe no one in this field is better positioned to go deeper and broader than Midjourney right now. If anyone can do this, Midjourney can too. I think it will eventually happen, sooner than most people expect.
But that capability is currently several years away. But that doesn’t mean we can’t already dream about the immersive metaverse possibilities that are coming here.
For example, I think world simulation would fit well with: autonomous worldIn other words, it is a game that tracks logic and state completely on-chain. This architecture supports a client-agnostic design, so anyone can run the owner interface. So imagine Midjourney being an interface builder that lets you tap to feed an image and then create a custom world you can play through an on-chain game with real-time visual effects.
This is just one use case, but future possibilities are largely limited by our imagination. Decorate your art gallery with your favorite NFTs or create an immersive experience about real estate in the Metaverse project.
Movies, education, games, virtual events and more—everything We believe Midjourney is well-positioned to become a pillar of a smart open metaverse because world simulation allows it to expand in new ways. Similar to how AI agents make it much easier to populate virtual worlds with human-like intelligence, world simulations make it much easier to bring these spaces to life with stunning real-time visual effects.
So stay tuned to Midjourney as the AI ​​x cryptocurrency x VR intersection continues to intertwine and the smart open metaverse gains more attention. Their work holds great promise for zeroing out the friction of creating large-scale immersive virtual spaces. The implications here for creators of all kinds are enormous, and the entertainment industry will be revolutionized accordingly. NFT users, take notes and prepare now!
William M. FeasterThe senior writer has been with Bankless since January 2021. He has been immersed in Ethereum since 2017 and has been writing: Metaversal Newsletter Senior NFT analyst on a team that covers everything from AI projects to cryptocurrency gaming at the on-chain frontier. With his background in creative writing, he writes novels and publishes art on Ethereum in his spare time. He lives in Washington.
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