Interoperability: the key to creating value in the metaverse

As explained by Quant (

“Today’s nascent metaverses are ring-fenced, walled gardens. Less a metaverse than part of a multiverse: an extensive collection of different platforms, each tied to its own distributed ledger technology with no way to transact or operate between them. This begs an obvious question: how can we transition from a multiverse to a true metaverse? The answer, in short, is interoperability…“the benefits of interoperability are massive — a quantum leap that mirrors the real world where people can move themselves, goods and money freely between ecosystems without changing identity. Anyone in a Web 3.0 enabled, fully interoperable metaverse could take their digital identities, NFTs, and currencies across platforms, easily and smoothly.

Interoperability allows individuals to be unconstrained and have a more unified experience in the metaverse, just like in the real world. Likewise, an interoperable stablecoin could be used for payments across platforms between disparate geographies.

It may be years before we see the metaverse as ubiquitous as the internet. And for now, there is little financial incentive or international standards that compel large companies to create an open platform. However, in the interim, where we have mini empires, we can utilize interoperable digital assets and payments to help individuals have a more portable and seamless experience.

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