How Blockchain Tech Will Shape 2023: Interview with Everyrealm’s TJ Kamuwara

Thanks to its relentless advancement, the blockchain industry is rapidly transforming the business landscape through its new incentivization and distribution model. Despite 2022’s challenging backdrop, the influx of mainstream brands, venture capital firms and angel investors into the segment showed no signs of abating.

2022 was the epicenter of a massive increase in investment across the Web3 ecosystem, with investors pouring millions of dollars into new projects and infrastructure development spanning the metaverse, blockchain gaming and Web3. During this period, development activity across the blockchain ecosystem simultaneously grew unabated. Per Alchemyits most recent report, development across the Web3 ecosystem increased by nearly 453%, even amid the events following the fall of Terra and FTX.

As 2023 kicked off, we sat down with TJ Kamuwara, a co-founder of a16z-backed metaverse technology company Everyrealm, to understand what 2023 has in store. Recently, TJ shared an open letter with investors highlighting how the metaverse and blockchain technology is poised for an intersection this year.

In his letter, TJ emphasized several key points, including digital identities, new use cases for NFTs, decentralized social media platforms, infrastructure development, and the merging of virtual and physical worlds. In our conversation with TJ, we delved deeper into his insights to find out why new technologies will shape the future of the internet, understand new concepts like digital identity, and find out how TJ expects the industry to evolve in the coming months.

In your letter to investors, you mention that 2023 looks set to be a pivotal year for the intersection of the metaverse and blockchain technology. Can you explain why you think this is the case?

TJ: In 2023, we will see the continuation of various trends converging and the launch of expected projects. This includes the launch of metaverse platforms like Sandbox to Everywhere and existing platforms like Fortnite that continue to empower creators with the tools to create and monetize their creations. In addition, Apple (NASDAQ:AAPL) is expected to release its Apple Glasses, a hardware tool that bridges the physical and digital worlds through immersive reality for the masses, and blockchain infrastructure is set to bring the benefits of Web3 while providing the user-friendly experiences they are accustomed to Web2 . In the past, the Web3 infrastructure has been far too complex, making it difficult for non-crypto-native users to onboard and enjoy experiences.

In your opinion, what are some of the biggest challenges facing the development of the metaverse, and how do you think they can be overcome? Can you also tell us how you expect the metaverse to affect the concept of identity and self-expression in the digital realm?

TJ: Although we will see many new products released this year and the infrastructure continues to improve, there is still time needed for the space to mature and fully develop the infrastructure needed to deploy, experience and benefit from the content of virtual worlds to the masses. Your digital self is becoming synonymous with your physical self, and we’re already seeing it, as people value the identity of their Twitter, Tinder, and Tiktok personas almost as much as their personas in the physical world. The gap between the two will continue to close as the immersive nature of digital experiences improves.

Can you explain the concept of “digital ownership” and how it relates to the metaverse? How do you see the concept of virtual property rights evolving in the metaverse, and will it affect the way we think about ownership and value in the digital realm?

TJ: In the past, the digital assets you bought and the data created from your digital footprint weren’t really yours. Many companies collect and use your personal information for their own benefit, often without providing compensation or benefits to the individuals whose information is being used. Digital assets, although purchasable, may not always be fully owned by the purchaser as they may be taken away or lost when the Platform is shut down. I believe virtual ownership will increasingly resemble physical ownership, where the owner has more control, and provides more opportunities to create and monetize value.

Your letter also emphasizes the importance of digital identity (DID) in the metaverse and that NFTs and DIDs will be used to leverage identity traits. In this context, please help our readers understand what DIDs are and how Everyrealm plans to address the issue of fragmented digital identities and provide users with a unified, interoperable identity that they control.

TJ: NFTs and DIDs are both options for returning ownership of identity features to the user, but they use different methods. DIDs are not tokens, but encrypted documents containing information about your identity linked and unlocked by the owner’s wallet address, which is the unique identifier. This allows the user to take control of several different identifiers and link them together, allowing them to more easily prove aspects of their identity without having a fragmented presence across the metaverse.

You talk about the importance of interoperability in the metaverse and how it will enable users to combine their different online identities into a single, unified identity. What, in your opinion, are the biggest challenges in solving blockchain’s interoperability dilemma? And how does Everyrealm plan to ensure interoperability between different virtual worlds, and what role does it see itself playing in the problem-solving process?

TJ: The biggest challenge is the potential for centralized platforms to restrict access to their APIs, preventing users from accessing their digital footprint. Standards must also be developed among platforms to easily transfer identity and assets across platforms. Everyrealm invests in and develops the infrastructure and content necessary to build this ecosystem for the long term.

Provide some insight into the role of community and social interactions in the metaverse and how it may differ from traditional online communities and social networks. How does Everyrealm facilitate and encourage meaningful social interactions in the metaverse?

TJ: As the metaverse becomes more immersive and the gap between the physical and digital worlds becomes increasingly blurred, people will be able to develop more meaningful relationships through social interactions and experiences that are more similar to those in the physical world. Currently, online communities and social networks lack authenticity and can feel less real. This will change with the metaverse, enabling more realistic and immersive interactions.

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