The project's co-founder Jeff Zirlin warned that the crypto sector is going to face "more powerful enemies" as digital assets and the blockchain go mainstream.
Axie Infinity's co-founder has warned that Facebook's foray into the metaverse is a "battle for the future of the internet."
Jeff Zirlin warned that the crypto sector is going to face "more powerful enemies" as digital assets and the blockchain go mainstream.
Speaking at the NFT BZL conference in Miami, he said:
"They're going to try to squash this beautiful thing that we built because it threatens them — it threatens their business model, their way of life, and their philosophy."
According to Zirlin, there are two sides in this upcoming battle: grassroots internet communities, and deep-pocketed tech giants.
You could argue that the likes of Axie Infinity — alongside The Sandbox and Decentraland — have a much-needed headstart when it comes to the metaverse.
These blockchain-based projects are already up and running, while it may be some time before Meta's products are commonly available.
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Challenges Ahead
Here's the problem: the mere concept of Facebook aggressively investing millions of dollars in the metaverse is causing alarm bells.
Crypto enthusiasts argue that these communities should be open, and not controlled by any single company.
The social network has vowed to be responsible with its approach — but Facebook, now known as Meta, has a long track record when it comes to infuriating lawmakers and regulators alike.
Indeed, one early investor in the social network even branded the company's proposals as "dystopian."
John Carmack, the chief technology officer of Oculus, recently confirmed that NFTs and cryptocurrencies will play a part in the metaverse — but admitted there will be limits.
"I use adult entertainment as a litmus test for how open a platform is. If there’s adult entertainment, it’s a very open platform from a commerce standpoint, we probably won’t be there."
As this CoinMarketCap Academy explainer recently noted, the metaverse can exist without cryptocurrencies and blockchain — but the idea is rooted in offering an open and interoperable network.
