Could castle-raiding become the new nine-til-five in the future?
Crypto may eventually reach VR, according to a recent blog post published by Coinbase CEO and co-founder, Brian Armstrong.
Using the San Francisco-based online world, Second Life as an example, Armstrong hypothesised that virtual spaces could make effective use of established decentralised currencies such as Bitcoin or Ethereum, create a centralised one, or issue their own token on Ethereum or similar.
Because digital currencies give players the opportunity to earn ‘real money’, Armstrong believes that integrating crypto on these platforms is an attractive concept to developers, as it means that “more people will spend time in the game.”
While it’d allow them to purchase all manner of items such as vehicles, clothing and the old reliable ‘instant travel’ abilities in cyberspace, Armstrong speculated that players could use these online spaces to to support themselves in the real world, earning a living in the virtual world to “pa[y] their rent in the real world.”. How’s that for a nine-to-five?
As for what this economy might look like in VR, Armstrong imagines a setup comparable to the traditional real-world banking.
“Perhaps we’ll see virtual bank buildings with pillars, virtual bank vaults that spin when you open them, and virtual tellers with glasses.” he wrote, suggesting the visuals for the currency could look similar to what we’ve seen in virtual worlds depicted in recent films.
“Ready Player One had a great visual of coins being collected in the game, and spilling out of characters when they were killed (leaving a big pile of loot on the ground).”
Of course, all is speculation for now, and it seems like VR’s still got a way to go before it reaches mainstream appeal.
But Armstrong believes that allowing virtual reality users to “really own” their in-game items and funds (as opposed to just a database copy) will “bridge one more gap with the ‘real world’,” which he argues could be what helps VR transition from “hobby or entertainment to a full time job or lifestyle.”