Loot and The N Project, which are token-based nonfungible projects, have raised interest in the Metaverse at an all-time high. They also raise hopes that blockchain will one day become commonplace. Or is it history repeating itself? It is not easy to see that what captures the interest of people are also the same thing that can ultimately cause problems for the platforms. In this article, I’ll explore the fundamental issues responsible for creating this dynamic with the goal of helping address these issues once and for all.

The fundamental problem is that legacy blockchain technology — specifically — introduces massive barriers to entry that hinder the ability of the Metaverse to onboard new users. This is further exacerbated when users are unable to use the network’s statically priced services.