At Atlas we are often asked about our definition of the “Metaverse” and “Web3”, and we also see both terms being (erroneously) used interchangeably.

A definitive definition of the “Metaverse” is still somewhat elusive. Inevitably, confusion is a key feature of any new frontier disruption, but complicating matters further is the trend of company executives and aspiring major metaverse players falling over themselves to define the metaverse in their own image and according to the main service offerings of their companies. Is it any surprise that Satya Nadella describes the metaverse as a holistic “app canvas”, while Zuckerberg has focussed on the virtual reality component post the acquisition of Oculus?

We like Mathew Ball’s definition of the “Metaverse” as explained in his recent publication of the same name because it offers a comprehensive and clear vision of what the Metaverse might be, and in doing so also illustrates some of the obstacles that need to be surmounted before its realization.

So, how does Web3 fit in?

Well, to begin with, it’s important to emphasise that the “Metaverse” and Web3 are not the same thing.

Web3 is a vision of how* the internet will be built, rather than *what it will be. There is of course plenty of disagreement about a definitive definition here too, even within the Atlas team, but we are confident that we can distil the definition of Web3 to its central commitments to decentralisation and the shift of power from monopolistic organisations to individuals.

At Atlas, we believe the genesis of both the Metaverse and the realisation of the Web3 vision are symbiotic and that the future of the internet will be constructed in a more democratic and competitive manner by a decentralised network of users, engineers and businesses. We also believe that these decentralised architects will capitalise on new blockchain technologies to build a level of trust and cooperation that enables a Metaverse of infinite scale rather than concentrated in the hands of self-interested gatekeepers to current online services.

Maybe this sounds like a tech socialist utopia, but at Atlas, we are confident that building the foundations of a Metaverse with the toolset of Web3 philosophy and blockchain-enabled decentralisation will unlock a more equitable and sustainable future, not to mention exponential value creation.

Armed with this belief, Atlas is building the future of e-commerce, beginning with fashion. Fashion is one the fastest growing manifestations of the metaverse (already valued at over $40 billion) and the most prolific form of human self-expression, and accordingly, brand ambassadorship. Using cutting-edge blockchain and augmented reality technologies, Atlas is ensuring that the long tail of brand ambassadors — that is anyone who inspires a fashion sale — is rewarded for that transaction. With Atlas, we will all share the value we create when we inspire a friend, family member, or passive admirer to make a purchase. In doing so, we will generate unprecedented network effects that redefine the value of brand equity, and ultimately cement the building blocks of the Community Economy.

At Atlas we are often asked about our definition of the “Metaverse” and “Web3”, and we also see both terms being (erroneously) used interchangeably.

A definitive definition of the “Metaverse” is still somewhat elusive. Inevitably, confusion is a key feature of any new frontier disruption, but complicating matters further is the trend of company executives and aspiring major metaverse players falling over themselves to define the metaverse in their own image and according to the main service offerings of their companies. Is it any surprise that Satya Nadella describes the metaverse as a holistic “app canvas”, while Zuckerberg has focussed on the virtual reality component post the acquisition of Oculus?

We like Mathew Ball’s definition of the “Metaverse” as explained in his recent publication of the same name because it offers a comprehensive and clear vision of what the Metaverse might be, and in doing so also illustrates some of the obstacles that need to be surmounted before its realization.

So, how does Web3 fit in?

Well, to begin with, it’s important to emphasise that the “Metaverse” and Web3 are not the same thing.

Web3 is a vision of how* the internet will be built, rather than *what it will be. There is of course plenty of disagreement about a definitive definition here too, even within the Atlas team, but we are confident that we can distil the definition of Web3 to its central commitments to decentralisation and the shift of power from monopolistic organisations to individuals.

At Atlas, we believe the genesis of both the Metaverse and the realisation of the Web3 vision are symbiotic and that the future of the internet will be constructed in a more democratic and competitive manner by a decentralised network of users, engineers and businesses. We also believe that these decentralised architects will capitalise on new blockchain technologies to build a level of trust and cooperation that enables a Metaverse of infinite scale rather than concentrated in the hands of self-interested gatekeepers to current online services.

Maybe this sounds like a tech socialist utopia, but at Atlas, we are confident that building the foundations of a Metaverse with the toolset of Web3 philosophy and blockchain-enabled decentralisation will unlock a more equitable and sustainable future, not to mention exponential value creation.

Armed with this belief, Atlas is building the future of e-commerce, beginning with fashion. Fashion is one the fastest growing manifestations of the metaverse (already valued at over $40 billion) and the most prolific form of human self-expression, and accordingly, brand ambassadorship. Using cutting-edge blockchain and augmented reality technologies, Atlas is ensuring that the long tail of brand ambassadors — that is anyone who inspires a fashion sale — is rewarded for that transaction. With Atlas, we will all share the value we create when we inspire a friend, family member, or passive admirer to make a purchase. In doing so, we will generate unprecedented network effects that redefine the value of brand equity, and ultimately cement the building blocks of the Community Economy.