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Thursday, September 02, 2021

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Kyz

I don't think the problem is traditional currency and payment systems, rather it's that all these companies develop models where virtual product is worth such small amounts that devaluation of labor is the actual problem. Magnified by some companies that are also using currency itself as product.

For instance, I did pretty well in SL riding on the coattails of the breedables craze. Enough for a couple of full time incomes. The pain point of making money was SL. Between limits, virtual currency converted to real money and the extra steps required.

I did the same at various points for selling content for game engines, just being able to find the trends and fill niches. These markets were much less painful because there was no virtual currency to deal with.

Now I'm back to creating real life products, which is my first love. I prefer to make things that you can hold, and that serve a real life function. But in this real life business, I have no problems with money. It moves fast, it's dependable, it's measurable and the fees are predictable and built into my business model.

I would argue that what the Metaverse needs is to nix virtual currency completely and to value labor in the same way that real life labor is valued. People will pay if they really want a product.

Virtual goods as currently handled is sort of a scam. You sometimes work longer and harder than any sweatshop, for unpredictable results, specifically because of the devaluation that virtual currency and business models by these companies implement.

It's kind of amusing that some of the same people that will call for higher minimum wages, will also applaud virtual worlds where sometimes 8 hours of work might net you enough for a cup of coffee.

The only part of the Metaverse that shouldn't be virtual is the money.

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