From Elon Musk commenting on Twitter to Mark Zuckerberg re-branding Meta to Facebook, you will have struggled to pass the last weeks without being exposed to some form of information in relation to the Metaverse / Web3.0.

This brave new world is slowly permeating our lives and although this may be news to many, there are those of us who are already absorbed into the world of virtual reality, where the Blockchain and Crypto currencies are essential and used on a daily basis.

Since March 2020, Covid 19 has resulted in much of the population having to work from home, leading to increased numbers spending more time in virtual worlds. People are experiencing much of their human contact through the internet, to the extent that, as one of my crypto-native clients said to me, “My Life is an App”.

We are now at an inflexion point whereby we can opt to spend our time in the “real world” or in the Metaverse. An example of this is Axie Infinity, a popular blockchain game. In this game you play to earn "Axies", an in game resource which can be exchanged for ETH. This opportunity has been heavily adopted by communities in the Philippines who have the opportunity earn almost twice the national average wage per week. 

Within the Metaverse, the use of the blockchain to secure transactions and Crypto as a means of payment for services is a great fit, however, back down in the “real” world we appear to be struggling to regulate or even understand the Crypto space.

Could this unwillingness to embrace the Crypto space and indeed the Metaverse by some of incumbent regulatory authorities around the globe simply push us into a two tier world, one fully embracing of change and one hanging onto the past for dear life?