Jesse: Tim Sweeney, the founder of Epic Games, is on record talking about the metaverse as something that can only exist once you have a truly digitally native property rights system. Blockchains are exactly that.

Then once they stored it, they ended up having monopolistic network effects. One way to look at a blockchain is as a community-owned database. DNS and a blockchain are the only examples in the history of the internet where you had databases that a community owned, not a company. The other exception might be Wikipedia, as it is a nonprofit. I think ... See more

Moreover, even though many blockchains claim to be able to handle thousands of transactions per second, aka TPS, this metric does not take into account the storage properties of the application at hand. There is a big difference between 50,000 DeFi transactions, which may generate zero bytes of new state data, as opposed to 50,000 social transactio... See more