Why I no longer write about blockchain-based virtual worlds and social VR platforms on this blog – Ryan Schultz

Yesterday we decided to cut an entire branch as a first step in cleaning up our list of long-overlooked Metaverse platforms. Removed entire subsections on virtual worlds and social VR platforms that incorporate blockchain, cryptocurrency, or non-fungible tokens (NFTs). In this editorial blog post, I will explain why I will no longer be writing about this in the future. any Blockchain-based Metaverse platform from the RyanSchultz.com blog. (The original blog post still exists and is searchable.)

My introduction to blockchain as a Metaverse blogger was through the three initial entries that actually launched the first few blockchain-based worlds that caught my attention, especially worlds where you could create and visit avatars. First Decentraland in February 2018, then Somnium Space in May of the same year, followed by Cryptovoxels (now called Voxels) in July. In April 2018, I started writing regularly about NeosVR. rain– A blockchain-based social VR platform with an associated cryptocurrency (although not actually integrated in any way).

At the time, blockchain was a novelty, and I reported on the news and events happening on these platforms, just as I did on Second Life and other metaverse platforms I covered (often from a very skeptical and cynical perspective). I haven’t purchased or used any cryptocurrency, except for some NCR (Neos Credits, Neos’ cryptocurrency), which are monthly “rewards” I earned as a Patreon supporter of the project.

I remember being somewhat excited in 2021 when NCR rose to dizzying heights of nearly US$9 per coin, buoyed by cryptocurrency speculators with little or no interest in the metaverse. I even briefly fantasized that I could sell it for the highest price. Use that “money” to market and buy a new desktop PC (I just checked and today 1 NCR coin is worth a whopping 7 US cents).

All I lost after the inevitable crash was probably a few months’ worth of my Patreon subscription, which I upgraded to “earn” more NCR, probably about $20 total. But I know people who have lost over $1,000. It was an instructive lesson in how gambling cryptocurrencies can be.

In fact, about a year ago, I wrote on this blog that going forward I would limit reporting on blockchain-based Metaverse platforms to those that support virtual reality. List: NeosVR, Sensorium Galaxy and Somnium Space).

I have also decided not to write any more about blockchain-based Metaverse platforms unless they incorporate virtual reality.

We were fortunate enough to have the (T)Hose platform successfully launched. before The current cryptocurrency carnage is likely still tied up in a web of interconnected cryptocurrency companies lending and borrowing from each other in highly speculative cryptocurrencies whose real value is determined by how much bigger fools are willing to pay. In particular, those who have purchased high-priced NFT-based real estate on platforms like The Sandbox, Somnium Space, or even the pioneering Decentraland will find it very difficult, if not impossible, to generate any kind of profit from their investment. .

And to see how a social VR project with such technological potential could be hindered by having a cryptocurrency attached, one need only observe the hardships NeosVR suffered after the cynical pump-and-dump driven by cryptocurrency. As far as I know, there hasn’t been active development on the platform in over a year, and it’s unclear what will happen to NeosVR in 2023. It breaks my heart and makes me angry.

I will continue to follow the current cryptocurrency winter shenanigans as an interested (and bewildered) observer, but I have decided not to write about the blockchain metaverse anymore unless it is released. and Supports virtual reality. In particular, I will no longer waste my time (and your patience) writing about every blockchain metaverse project that consists of a .io website, a Telegram or Discord channel, hand waving, and a long white paper. Real technical details are lacking. Enough nonsense and bullshit.

Over time, from 2018 to 2024, my initial enjoyment of cryptocurrencies, NFTs, and blockchain solidified into something closer to disgust. I started following cryptocurrency experts like Molly Brown and David Gerard, and started hanging out on the r/Buttcoin subreddit, which provided reliable cryptocurrency streams. Recently I read some well-written books criticizing Bitcoin, especially one by Zeke Faux. Number Go Up: Inside Cryptocurrency’s Rapid Rise and Tremendous Falland Easy Money: The Golden Age of Cryptocurrency, Casino Capitalism, and FraudWritten by Ben McKenzie and Jacob Silverman (both highly recommended).

And finally I came to a conclusion. Even though blockchain-based social VR platforms still exist, the products and services actually delivered are no Scam or rug pull (e.g. Somnium Space), I’m so sick of the overall cryptocurrency space that I won’t be writing about it anymore. After 5 years, I’m sick of this nonsense. complete.

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