In the past few years, the term 'metaverse' has fallen from grace: the frenzy triggered by Meta's rebranding, the silence after 2023, and then the 'new resurrection' after the combination of AI and the virtual economy in 2025. It has evolved from an idealistic concept to a realistic issue at the intersection of technology, narrative, and economy.
But in my opinion, the metaverse has not 'disappeared'; it has simply returned to the right track from illusion.
1. What is the metaverse?
In summary: the metaverse is a 'second layer of reality' in the digital world, a virtual economic system where identity, assets, behaviors, and social interactions can be verified on-chain and exist sustainably.
The true metaverse is not a 3D headset or virtual meeting room. Its underlying logic is 'the provability of identity and assets'—your existence in virtual space is real and can be validated.
Therefore, Web3 is the only self-consistent economic foundation for the metaverse. Without blockchain, there are no identities, assets, or validated values; all 'virtual worlds' are merely pseudo-metaverses, fundamentally centralized game servers.
Two, past misconceptions
In the past five years, most discussions about the metaverse made three common mistakes:
1️⃣ Centered on 'immersion'
Thought the key was VR/AR technology, but the core is 'persistent identity'. Visual immersion is just the experiential layer; persistent identity is the economic layer.
2️⃣ Aimed at 'socialization'
The metaverse is not another social platform; socialization is merely a byproduct. The goal is the productivity and value closed loop of virtual space.
3️⃣ Ignoring 'ownership'
A centralized platform metaverse is ultimately just 'a fancier advertising space'. A blockchain-based metaverse allows you to 'own your own world'.
Three, the underlying structure of the metaverse
To understand the metaverse, one must look at its five foundational layers:
1️⃣ Identity layer (Identity)
On-chain DID, SBT, and data credit systems. This is a person's 'digital identity card'.
2️⃣ Asset layer (Asset)
NFTs, on-chain game assets, virtual land, on-chain revenue certificates, etc. Endow the virtual world with economic attributes.
3️⃣ Interaction layer (Interaction)
AI Agents, virtual humans, voice-visual interfaces. AI is the soul that makes virtual spaces 'come alive'.
4️⃣ Scenario layer (World)
Virtual cities, on-chain games, 3D spaces, AI-driven communities. This is the human experiential layer and also the business entry point.
5️⃣ Economic layer (Economy)
Tokens, on-chain incentives, cross-chain payments, DeFi ecology. This allows the metaverse to operate independently, rather than relying solely on top-ups.
Four, the direction of reality: from concept to implementation
By 2025, the metaverse will no longer be about 'dream-making'. Implementation will be divided into four main lines:
1. AI-Native economic entities
AI Agents replace 'players', running tasks on-chain, generating content, and trading assets. Each Agent is an independent economic node, shifting from 'human-driven' to 'AI-driven'.
2. On-chain social and identity assetization
DID, SBT, Lens, Farcaster and other projects realize 'social relationships on-chain'. In the future, 'friend circles' will not be data walls, but rather asset networks. One account equals one economic entity.
3. Gamified virtual spaces
From The Sandbox, Decentraland to lightweight on-chain games, games become the experimental field of the metaverse. Web3 games are not about 'play and earn', but rather 'on-chain activity carriers'.
4. Integration of the physical economy
Real-world brands 'replicating on-chain': Nike, Coca-Cola, Louis Vuitton testing the binding of virtual assets to real goods. This is not marketing but a new business model—metaverse = the global consumption layer of data validation.
Five, future trends
In the next three years, the metaverse direction has three keywords:
1️⃣ AI-ization (AI-ization)
AI generates content, drives social interactions, and manages economic entities. Humans exist more as 'creators + managers'.
2️⃣ Financialization (Tokenization)
All data assetization. Not just images or land, but social relationships, behavioral data, and knowledge skills are all validated by tokens.
3️⃣ Fragmentation (Modularization)
The metaverse is not a single platform but a multidimensional interconnected system. Each chain, community, and AI-Agent is a localized universe that collectively forms a 'multiverse'.
Six, my conclusion on the metaverse
The metaverse is not the next internet but rather the 'settlement layer + identity layer + economic layer' stacked on top of the internet.
In the past, going online was about 'input'; in the future, the metaverse will be about 'existence'.
AI makes the world smarter, blockchain more trustworthy, and the metaverse more complete.
The metaverse will not explode overnight but will gradually permeate. Eventually, the boundaries between reality and the virtual will blur, and you will find yourself within it.