Many would agree that the concept of what defines a nation is changing. Traditionally, a nation was understood as a significant collection of individuals who share ancestral roots, background, heritage or dialect and live in the same physical space.
In addition to this, a nation is usually associated with a state that maintains a monopoly on the “legitimate use of violence” both externally and internally to ensure the survival of the nation-state. Therefore, the state plays a crucial role in traditional nations by directly or indirectly enforcing the rule of law and property rights of citizens.
However, thanks to the rise of new technologies such as the metaverse, NFTs, cryptocurrencies and blockchain, individuals around the world have realized that living in a purely digital environment may no longer be a concept that resides only in the realm of science fiction. .
How is the concept of nation evolving?
It is essential to remember that a nation, which depends on many social structures, including but not limited to currencies, religious beliefs and even large corporations, is all based on the idea of a story. or a fictional story. Societies would therefore be formed on the basis of a shared set of ideas, norms, beliefs and perceptions of reality.
Nations, despite their lack of materiality, are therefore powerful coordination tools that allow collaboration between individuals on a large scale, even if these people do not necessarily know each other but nevertheless have an innate desire to work for the common good of all. the members of it. particular company. In fact, one could argue that it is this very concept that separates us from animals.
Also, since there are no tangible products in the metaverses, everything is virtual. However, this raises the question of how individuals can ensure that something digital has a perpetual presence when it only remains in a centralized database that can be erased with a single click. Moreover, how then can property rights be enforced over non-permanent objects without any of the safeguards provided by the nation-state?
The youse of the ‘NFT standard’
The NFT standard allows the existence of digital objects in the “Open Metaverses”. This also distinguishes these types of metaverses from “closed metaverses”, which are owned by a central society. That said, the NFT standard in Open Metaverses not only resolves the issue of object permanence, as provided by the fundamental blockchain infrastructure, but it also determines and grants property rights.
So whereas in physical nation-states property rights over assets are typically enforced through monopolies or through the use of “legitimate” violence, in an open metaverse they are enforced through smart contracts executed by a virtual machine. Finally, the NFT standard defines the domain of Open Metaverses. Similar to how web domains work, owning digital lands in the metaverse allows publishing rights to anchor content in those digital locations.
Can anyone really have a “digital identity”?
The digital identity in the metaverse is characterized by wallet addresses, so each natural person would be allowed to have many addresses according to their respective needs and desires. Accessing a metaverse would also typically require users to have a strong internet connection and compatible devices such as VR and AR gear.
In general, a citizen of an “Open Metaverse” digital nation is someone who holds a token stake in such a platform. Tokenized stakes can be fungible tokens that become the engine of a digital nation’s economy or non-fungible tokens that symbolize publishing rights to its virtual territory. This type of participation further grants governance rights in digital nations, where Decentralized Autonomous Bodies (DAOs), which are the coordination tools of the Open Metaverses, would also play an important role. These DAOs would therefore allow token stakeholders to have a say in how the digital nation evolves over time, as they are community driven.
Moreover, since they are decentralized, DAOs can also be formed in different ways, where they can be a direct democracy or an oligopoly. It would really depend on how they are structured and what kind of governance voting infrastructure is in place. In any case, the best platforms like the MORE Metaverse is actively working to drive widespread adoption of metaverses and dramatically improve user experience in these digital worlds. Whether it’s forming a digital nation or even doing something simple like attending a concert or having a virtual meeting, the metaverse is indeed here to stay.