What is the Metaverse? With Arie Trouw, Co-Founder of XYO and CEO of XY Labs

So let's start! First, tell us a bit about yourself—for example, name, profession, and personal interests.

My name is Arie Trouw, and I'm the Co-Founder XYO, the world's first blockchain geospatial oracle network backed with cryptography. I also currently serve as Chief Executive Officer and Chairman of the Board of Directors at XY Labs, Inc. 

I started using computers in third grade in about 1979, which led to my career in software engineering. I'm fortunate to be a serial entrepreneur and have had several successful exits, which gives me the flexibility to follow my passions. One of my most substantial interests is understanding the relationship between data and the physical world, in which XYO and XY Labs are primarily involved as an organization. I'm also a firm believer in decentralization and creating the integrated owner/user model. 

Please sum up what the Metaverse is in one to two paragraphs.

Web 2.0., the second phase of the Internet, ushered the world into a new era. We moved away from simple website pages towards new interactive experiences and user-created content. Accelerated by Covid-19, generational differences, and technological advancements, we're increasingly socializing, shopping, and exploring within virtual worlds. We're now approaching the next iteration of the Internet, the Metaverse, which will be a convergence of both the physical world and the virtual worlds we play in. In the future, I believe that technology will advance so much that the physical and digital worlds will become indistinguishable.

Are you currently, directly or indirectly, working on building a metaverse?

XYO is at the forefront of the Metaverse movement, focusing on empowering people to participate in the global data economy by validating anonymous and secure geospatial data.

With a network of millions of individual nodes and users who volunteer their data in exchange for XYO Tokens, XYO is positioned to help create a virtual reflection of the physical world that can be replicated to provide live moments in real-time.

Rather than providing data to a faceless multinational corporation that uses it to generate profit, XYO has tapped into the popularity of play-to-earn. We've gamified data creation through the COIN App, which rewards users with COIN in exchange for validating geospatial location data when travelling, commuting, jogging, or just simply going about their daily lives.

In your opinion, is the Metaverse inevitable, or is it just another passing trending tech topic that'll lose hype?

The Metaverse is simply the next phase of the Internet. Companies across almost all sectors are assessing the potential of Web3 and blockchain.

The Metaverse may be an emerging concept, but its underlying foundation is a compilation of key industries, including data tracking, logistics, social media, marketing, and inventory management.

Why is the Metaverse such a revolutionary concept?

In the Metaverse, companies, creators, artists, and brands will be able to interact with customers, fans, and everyday individuals in ways we haven't seen before. Brands building in the Metaverse will have the ability to create user-driven, fully immersive digital experiences that correlate to their physical products.

What the Metaverse will look like for the end-users is still taking shape, but with the entry of some of the world's top brands, we can anticipate that a fully immersive digital world will materialize.

What can people build in the Metaverse that we can't make on the Internet or in virtual reality today? What limitations of our current technology does the Metaverse free us from?

Despite efforts by tech giants like Facebook to lay claim to the Metaverse, no one entity controls the burgeoning virtual world. Anyone with the skill and desire can establish a presence.

How are the Metaverse and blockchain-related? Can we build a Metaverse without blockchain technology?

I don't believe we can build a Metaverse without blockchain. Blockchain, cryptocurrencies, and NFTs will enable the Metaverse to grow exponentially. 

The Metaverse isn't just an opportunity for brands to capitalize on but a peer-to-peer network that will fuel innovation. Through blockchain, users will be able to work directly with each other instead of relying on a centralized operator.

How quickly do you think the Metaverse will be developed? How much can we expect metaverse tech to grow in the next 5 to 10 years?

While the Metaverse is a trending topic across social media channels and mainstream publications, the reality is the concept is still in its infancy and has a long way to go before you can slip on a 3D headset and visit exotic global destinations. Projects like the Sandbox and Decentraland offer a glimpse into what this new realm holds. However, they are still at the beginning of their adoption curves as the bugs in the blockchain system, including high transaction costs and slow processing times, continue to be improved. Then there is the matter of helping companies migrate their physical presence into the virtual world and tagging each unique real-life item so that it can be represented digitally.

What is your hope for the Metaverse? Do you have any worries, or does the concept pose any threats?

The prospect of blending our human and digital identities is exciting and potentially frightening. I hope that the Metaverse stays decentralized and inclusive, serving users equally across the globe.

I fear that the Metaverse could become somewhat of a dystopian nightmare if the proper framework is not in place. Many corporations and government entities feel entitled to abuse our privacy, manipulate our attitudes and infringe on our freedoms. We must ensure that our security and autonomy will be protected in these new worlds.

Thanks for your time! Any final words?

There is a lot of buzz surrounding the Metaverse, but there remains a significant amount of development that needs to happen before it becomes a reality. XYO is providing a critical service in helping to build the data infrastructure that will help create a virtual world that mirrors the physical world but can be accessed from anywhere.