An examination of the development of the open metaverse, digital ownership, and the Web3 market from Yat Siu's perspective, based on his TED Talk and the industry's subsequent growth.
What is the Open Metaverse?
The open metaverse is a collection of decentralized experiences with digital property rights enabled by Web3 and blockchain technology. It allows participants to own and engage in active digital asset economies.
Return of New Economic Opportunities
In 2023, the play-and-earn model in online games faced challenges but remained relevant. In the Philippines, crypto games became a source of income, earning more than the daily minimum wage.
Growth of DAOs and Metaverse Currencies
By the start of 2025, DAO treasuries reached $32 billion. The market capitalization of cryptocurrencies in the open metaverse has grown to $3.2 trillion, underscoring the economic growth of the digital economy.
Despite the challenges of 2023, the open metaverse continues to grow and attract significant institutional investor interest. Property rights in the digital world are becoming a reality.
