Matthew Griffin, described as “The Adviser behind the Advisers” and a “Young Kurzweil,” is the founder and CEO of the World Futures Forum and the 311 Institute, a global Futures and Deep Futures consultancy working between the dates of 2020 to 2070, and is an award winning futurist, and author of “Codex of the Future” series. Regularly featured in the global media, including AP, BBC, Bloomberg, CNBC, Discovery, RT, Viacom, and WIRED, Matthew’s ability to identify, track, and explain the impacts of hundreds of revolutionary emerging technologies on global culture, industry and society, is unparalleled. Recognised for the past six years as one of the world’s foremost futurists, innovation and strategy experts Matthew is an international speaker who helps governments, investors, multi-nationals and regulators around the world envision, build and lead an inclusive, sustainable future. A rare talent Matthew’s recent work includes mentoring Lunar XPrize teams, re-envisioning global education and training with the G20, and helping the world’s largest organisations envision and ideate the future of their products and services, industries, and countries. Matthew's clients include three Prime Ministers and several governments, including the G7, Accenture, Aon, Bain & Co, BCG, Credit Suisse, Dell EMC, Dentons, Deloitte, E&Y, GEMS, Huawei, JPMorgan Chase, KPMG, Lego, McKinsey, PWC, Qualcomm, SAP, Samsung, Sopra Steria, T-Mobile, and many more.
WHY THIS MATTERS IN BRIEF
Web 3.0, which is a collection of technologies, will be the future of the internet and could create a new digital economy that rivals today’s global economy in size and breadth so mods like this one on major platforms are interesting …
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A little while ago I wrote an article about a developer who had built an insane virtual “Meta Computer” out of nothing more than Minecraft Redstone building blocks in Minecraft, and even though it wasn’t that powerful and over 80 storey’s tall it was a revolutionary breakthrough that could fundamentally alter the future of computing.
Now though in another breakthrough for gaming worlds everywhere the sandbox style video game Minecraft is getting a first of a kind Web 3.0 update thanks to a few developers unaffiliated with Minecraft’s parent company Microsoft.
Learn about Web 3.0 Technologies, by keynote speaker Matthew Griffin
NFT Worlds is a project built on third party Minecraft servers using Polygon, an Ethereum sidechain which offers lower gas, or transaction, fees for users, and the NFT Worlds’ blockchain layer on Minecraft will allow players to access a whole variety of Web3 features, such as an online shop where they can buy items for their Minecraft experience using the $WRLD ERC-20 token, and all manner of other things that wouldn’t have been possible without the mod.
Some of Minecraft’s software is open source, meaning that anyone with the right technical knowledge can build upon it. And Minecraft doesn’t have an established economy like competitor Roblox, which has a robust virtual marketplace and its own non-crypto digital currency called Robux. NFT Worlds gives players a metaverse experience in an existing game, which is big news for Minecraft fans and NFT collectors alike.
NFTs, which are unique blockchain based tokens that signify ownership over an asset, can come in many forms. In the case of NFT Worlds, the first NFTs they’re selling are pieces of virtual land, and there are over 10,000 different Worlds to choose from, varying in appearance from snowy tundras to forest islands to massive volcanoes.
The current floor price, or the lowest price to buy immediately without bidding, for a piece of land is 14.5 Ethereum, or about $38,150, and since Microsoft bought Minecraft’s developer Mojang Studios for a whopping $2.5 billion in 2014 Minecraft’s player base has grown enormously. The game had 131 million monthly active users in 2020 and over 141 million monthly active users in 2021.
Unsurprisingly NFT Worlds has seen an uptick in interest as well, reporting that over 26,000 player hours were logged on a test server in a three day period this month. And from January to February this year, the average price for an NFT World suddenly increased by 10 Ethereum ($26,000) after remaining largely stagnant for months.
While some might balk at paying upwards of $40,000 for a piece of virtual land, competing Ethereum metaverse game The Sandbox often commands much higher prices. Back in December, someone paid $450,000 for a small piece of virtual land next to rapper Snoop Dogg’s property in The Sandbox, but, compared to The Sandbox whose economy is run by the $SAND token NFT Worlds’ properties are exponentially larger.
In fact, ArkDev, co-founder of NFT Worlds, said in a Twitter Space on Wednesday that there are “concerns about the worlds being so humongously large.”
NFT Worlds co-founder Temptranquil added that “without some kind of transportation or portal system, a player couldn’t just walk” across an entire piece of land in the game.
When it comes to future developments, the NFT Worlds team wants to make the game experience as low-gas and “frictionless” as possible by using an EIP-2771, an interface which can enable cheaper “meta transactions” on Ethereum. NFT Worlds also wants to create a “global auction house” of sorts, which will function as their online marketplace.
The co-founders say they chose to build on Minecraft because they see Microsoft as developer friendly and less strict than competitors like Roblox.
“Minecraft has a really large, custom thriving game development system,” ArkDev said, adding that Microsoft also appears to be fully supportive of metaverse as its $68.7 billion acquisition of Activision Blizzard which was partly aimed at helping it develop “the building blocks of the metaverse,” according to a press release at the time.
But building a Web 3.0 world on top of an existing centralized game owned by a billion-dollar company isn’t without its risks. ArkDev and Temptranquil are well aware of the chance that they might “get rugged” by Microsoft, meaning that Microsoft could shut down their project at any time with legal action.
To prevent this, they maintain close contact with Microsoft reps to make sure they don’t violate Minecraft’s End User License Agreement (EULA) at any stage of development.
Minecraft’s EULA states that no one is allowed to “make commercial use of anything we’ve made” or “try to make money from anything we’ve made,” rules which could be applied against NFT Worlds in the future.
“We do work pretty closely with their IP enforcement team,” Tranquil said in the Twitter Space. “They’re in our Discord constantly, kind of reviewing our chat, and we have meetings with them.”
That being said, it’s unclear whether Microsoft approves of the project.
“They’re watching us from the sidelines, not like a formal green light, but I think in their eyes we’re the best case scenario for someone using their product,” Tranquil said.