There is 15+ years worth of FASCINATING sociological research on virtual worlds and digital identity, and yet many #metaverse proponents are quick to claim the wheel is currently being invented.

There is a wealth of information out there. Use it.

Examples in a thread below. 👇

https://twitter.com/web3_Studios/status/1562036197228220417

Virtual Worlds Don't Exist: Questioning the Dichotomous Approach in MMO Studies - by @ViliLe

gamestudies.org/1001/articles/…

If the endgame for @yugalabs is essentially a #Web3 videogame, it seems like a good opportunity to examine the closest #Web2 equivalent.

Let's look at @Bungie, who were acquired at a $3.6B valuation in February. Not far off Yuga's $4B valuation from their raise in March.

🧵

https://twitter.com/OthersideMeta/status/1524550010058194945

Bungie are responsible for building a few monster IPs. The most well known is @Halo, established in 2001 and owned until 2010.

Halo: Reach, their last title in the series - and not even their best seller, sold roughly 10 million units.

But it's not Halo I'm interested in.

Consider #NFT/#Web3 projects as startup investments, except the only fundraising mechanism is equity crowdfunding and we're ALSO the customers.

It incentivises piling into the biggest project, as investors, users and advocates, because 'making money' beats 'better ideas'.

🧵 Of course in typical startup investment, incentives are better aligned to the point that seeking out smaller, more innovative companies can be more profitable than backing the obvious picks.

That is not the case in #Web3, yet. Smaller, better projects are dying of starvation.