According to Randi Zuckerberg, a system in which people control services and data rather than businesses is not yet a reality. She was alluding to a situation in which Web3 lacks “complete decentralisation.” According to Zuckerberg, Web3 is a hypothetical, future version of the internet that will be based on blockchain technology. He described it as “the ideal heaven.”

You may answer, “But that’s not what’s happening; what’s happening is pandemonium.”

According to the founder and CEO of Zuckerberg Media, a production firm and marketing consultant, people are defending themselves by setting up so many different wallets and guarding their identities, which is not helpful to the area’s growth. He said, “You are the only one monitoring your back and assets.” You are alone responsible for monitoring your own back and valuables.

According to Zuckerberg, an early employee at Meta (which was once known as Facebook), various metaverses now operate as “their walled garden,” preventing users from using their assets on other platforms. He explained his statement by stating that Facebook was formerly called Meta. The phrase “metaverse” refers to a virtual world where people may live, work, and play. Users can acquire and construct virtual land and dress and accessorize their avatars using bitcoin.

“I’m on Decentraland right now, while my son is on Roblox and my other son is on Fortnite.” This is incredible; we are all in the metaverse. She said, “But we have no connection with one another.”

Zuckerberg said, “To fully unleash the potential of Web3, we’ll need to figure out a system where interoperability exists. What you have follows you everywhere you go, and we haven’t figured it out yet.”

Randi Zuckerberg has said that Web3 is in chaos and metaverses are building their own walls to protect themselves.#digixnow #digixnowcom #godigital #digitalmarketing #digitalbusiness pic.twitter.com/xNawo35chO

— digixnow.com (@digixnow) August 30, 2022

Pursuing the gold standard

According to Zuckerberg, however, this is easier said than done since no company currently operating a metaverse is willing to cede control or “share that ownership.” “That’s why we’re not seeing mass consumer adoption yet,” the researcher said, “because you need to leave the house with one wallet, and you need to exhibit that same behaviour online as well.” She continued by stating that Web3 needs the aid of individuals who have worked in the worldwide banking system and Web2—the internet we are acquainted with today—to offer a “protective layer.” According to Zuckerberg, it has been “very easy” for Web3 users to be exploited or lose all of their possessions, which makes the need for such knowledge all the more urgent.

Also read: Will Facebook win the Metaverse race?

“Consumers must have extra protections… I think we will end up with Web3, where there is some centralization, keeping people protected, but the ability to move your assets to any site,” stated a proponent of this concept. She continued by saying that another component of Web3 that must be improved is its user-friendliness. It should not take 45 steps to create a cryptocurrency wallet, buy a currency, and enter the metaverse; the process should be streamlined, beginner-friendly, and uncomplicated.

Industries with profit-making potential

Even though the metaverse is still in its infancy, Zuckerberg projected that some businesses, including real estate, will become “extremely profitable.” She said, “Wherever there is scarcity, there is value.” She said, “I think the primary issue will be whether there is scarcity in the metaverse, and if there is, there will be value in real estate there.” “There is value wherever there is scarcity.”

According to data from MetaMetrics Solutions, metaverse real estate transactions surpassed $500 million in 2021 and potentially more than treble in 2022. According to Zuckerberg, education and training will be a future “huge sector” for opportunities and wealth. “It is very difficult to upskill remote personnel, particularly in this new generation of remote workers.” “I think training in the metaverse, education in an interactive manner, will become essential for any company with distant jobs,” she added.