Who owns the augmented version of a physical place?
There are still many unknowns with the Metaverse, however, the most pressing need is for one of the most basic requirements of any market system – clear ownership rights.
A (market) system that protects private property rights is often the most efficient at correctly distributing the costs and benefits to all parties.
That is why the idea of Facebook/Meta owning the Metaverse is met with such concern, because of their lack of clear ownership rights, control, or responsibility over our digital and personal property. They should then not be stewards of the Metaverse.
At ARound, we believe in respect for privacy, security, property, community and self. That is why we envision the Metaverse less online and more in the shared experiences, places, and events that matter most to us and bring us together.
By focusing on event-based AR, we can help venues, businesses and retailers invest and innovate in experiences that connect the physical and digital world in exciting new ways. Where time, place, and people define the unique shared experiences for AR.
There will be many externalities (both positive and negative) that impact the blending of the physical and digital. However, throughout history it has been private property rights that have acted as the chief bargaining tool by those most affected by externalities.
We feel event-based AR is the best way to account for time and place, and the best way to create experiences that are filled with purpose and different perspectives.
We can’t wait to show you how.