kevin350

Right. So an asset is minted/created on a public (cloud based) blockchain with smart contract (permissions) information, ownership with a unique token ID (much like a UUID). The item has a unique value etc… It’s paid for by creators minting the item and transaction fees on the sale of items etc. literally in the same way it’s done in SL but on an open platform that economically favors the creator - who can collect royalties every time an item is resold / changes hands. In the grander scheme of a megaverse, the asset problem is less about creation, storage rights and payments of an asset, but more about classification, use, security, boundaries etc.. For example, in a global megaverse, where your global avatar can hop from a game sim to a social sim, to a concert venue sim or an adult sim - what is an appropriate asset? Clearly, sim/game creators will want to have aesthetic control. They won’t want you to wear fantasy robes and wizard gear on their space port game. A major Part of asset management in an open universe will be filtering. And you can only filter if you have extensive classification standards. which takes care of the dreaded nipple worry, if clothing also has a rating system.

This is exactly what NFT technology provides and solves.

Second Life's Niche is people who are willing to spend money for digital, 3-D social networking. "Spending Money" being the very unique element. Monetization (the great quest of the internet / metaverse), is and will always be the nucleus of the digital universe. LL does not sell packaged content with pre-determined graphics, scripts, quests, challenges, etc., that "gamers" are traditionally willing to pay for. They sell empty 3-D space (sandbox) with a free "on ramp" for creators and users. What Second Life was, what it has become, and what it will be in the future is driven by its users and "crowd sourced" creations. Across the internet, "crowd sourced" content is king. Every Facebook post, every Tweet, every beautiful piece of mesh clothing in SL, is crowd sourced. The difference between the mesh clothing and a flat, chain of text messages - is what content people are willing to pay for. SL's niche, is immersive 3D social networking - that people are willing to pay for. As such, it attract's adults, who have money and are willing to spend it -- which attracts creators who are willing to create content for money and creative satisfaction. Because it attracts paying adults, adults do adult things. Sex isn't a byproduct of Second Life, sex is a normal byproduct of adult relationships. If my fiancé and I meet on SL (because I travel a lot for work) and we dress up our avatars, go dancing to live jazz, feel beautiful, feel romantic (just as we do when we do it in RL), sex is very possible end to that lovely evening (be it real or virtual). That's just how relationships work. SL isn't doesn't begin with sex, it ends with it because it's successful, 3D social networking done well. It allows relationships to happen - be it friendships or romantic. SL defines what people are willing to pay for on the internet, and when they do, what they want. It proves that the number of people willing to "pay" is also very small. It also shows that those who are willing to pay, want their avatars as beautiful as possible - and they are willing to buy expensive, graphics capable computers to achieve that visual goal. Facebooks "free to play" model places extreme limits on what they will and will not be able to do in the metaverse. Facebook, like YouTube and others, don't like to share their profits. Their promise to create an economy that values content creators is a ridiculous lie at best. What's important in the coming years is standardization on the metaverse. Will your SL mesh be able to be worn on an avatar that visits other 3D worlds - which could be possible using NFT technology. Could your base avatar from SL sign into HALO and be equipped with game armor there while it plays? or log into WOW and do a dungeon with your friends? While it "could" all be possible, the fact is that there are competing business models, competing game engines, competing Digital entities that all want their very own slice of pie. While block-chain evangelists think they have global solutions that will drag corporations into their world, kicking and screaming to some great Digital Utopia, capitalism doesn't work that way. I-me-mine, doesn't play well with others.

Well, his attempt to make himself self-proclaimed king of the universe is already failing. Meta is now Omni - which is bigger than Zuck. All hail the mighty Omniverse! It goes to 11! Zuck is one lower.

What's important to understand is that SL, as a case history, clearly illustrates the difficulties and problems every "metaverse" will face in its development/growth curve. A functioning metaverse needs some essentials: 1) An economic engine and currency - that operates globally, is safe/secure, navigates global financial regulation and promotes easy trade and commerce. 2) Governance; to create community where commerce and innovation can occur as freely as possible while being protected from the negative impacts of lawlessness. 3) 3D Technologies that function within the scope items 1 and 2 and attract a user and creator community that operates profitably enough to continue. The challenges, discoveries and solutions developed by LL and its community of users and creators define what a metaverse is and how complex and difficult it is to create and maintain. What did SecondLife do well? It walked the path - and it's still here. That, in itself, should be apparent to everyone that's been in the community for a while. LL created a Digital Currency (ie; stable coin) that's at the heart of the economic engine (before blockchain was developed). That currency fueled development and flows easily to and from fiat currencies. SL Governence/TOS has navigated from the early Wild West days on the Grid (where pedo islands, illegal gambling and money laundering occurred) to a state where adult activities can still thrive without the heavy hand of social censorship found on other platforms. As other entities jump into the metaverse they will face the same challenges. Facebook promoted and bailed on their crypto development. Obviously, their corporate wealth can't make every innovation bend to their every whim. Facebook can barely govern a dynamic news feed let alone govern a metaverse. Hell, they can't even provide acceptable customer service for paid advertisers and every "developement" Facebook has had in 10 years, they've purchased - not developed. They only thing META, that Facebook comprehends is how to pilfer user meta data and sell it. It will be interesting watching his legless universe struggle. In short, there are a lot of new and exciting things happening in technology. Blockchain, crypto, NFTs, etc.. Whether LL will bridge to these technologies, I assume will be subject to laws 1 & 2 of the metaverse. Having survived 18-years is no small accomplishment. "Open Worlds" require more user knowledge and responsibility. I laugh when I see NFT land sell for a million dollars. If SL is too "difficult" for an average user, how common are users that can navigate an ETH purchase on an exchange, transfer it to a digital or cold wallet, trade it for wrapped ETH on a Polygon DEFI Exchange then purchase a Race Horse or Crypto Kitty on OpenSea. The "future" of the metaverse is further than anyone thinks. SL is still further along than any of them.

Jadeclaw -- Exactly, though I think the panic was warranted and they are scrambling to adhere to new regulations. I just showed an example of how a terrorist organization could easily funnel $20,000 a day to any organization that were bomb building in any country. LL and Bitcoin transactions = millions per month.

It's obvious that emotions on this issue make impossible to discuss it with any sense of coherency . This post was about illegal money laundering activity and loopholes in process of electronic currencies. I'd venture to say that few posters even read the links I provided. This isn't hard to undersand: 1) The US Cyber Crimes Division have determined that electronic currencies offer an opportunity to launder money easily and that can be used for everything from illegal drug, gambling or even terroist activity. 2) Because currency can be "exchanged" using LL and Third Party Exchanges that deal in various electornic currencies, such as Bit Coin, LL and the other TPE's must comply with new US Federal Banking Regulations that prevent illegal activities of face fines and being shut down on June 1 by the Feds or the Federal Trade Commisison. 3) This is an inconvenience for EVERYONE involved, including LL. If said illegal group opened 200 email, LL and various BitCoin related acounts, and simply passed $100 a day to each account (on non flaggable transaction) said groups could easily funnel $20,000 a day from mutliple countries to one location and fund all kinds of evil things. This issue is NOT about the good people of SL, it's those exploiting it for not so good things. Wake up and look beyond your own tiny little problem with the issue.

I know everyone loves to hate the Lindens but I think the TOS change that effects Third Party Exchanges has more to do with illegal currency activity than anyone here comprehends. This is espceially true for Exchanges that offer options to move LInden Dollars to BitCoin currency. As in most of the world, regulations are not created for those that use a system fairly but for those willing to exploit it. While most SL participants simply want an easy way to participate in the SL economy, an element of evil is out there looking at new was to cheat one person or another out of something. Google "Linden BitCoin Trading" and take a look at the not so obvious problems and why LL has to be proactive. http://www.tandfonline.com/doi/abs/10.1080/1.... http://www.hypergridbusiness.com/2013/05/new-registration-requirements..