Barbados Becomes First Nation to Open Virtual Embasy in Metaverse

Barbados Becomes First Nation to Open Virtual Embasy in Metaverse

A very interesting piece of news sprung that Barbados will be the first nation to be opening a Metaverse embassy. The local government had signed an agreement with Decentraland,  a 2017-launched metaverse allowing users to buy virtual land, play games for crypto coins, gamble, interact with other users, and more.

According to CoinDesk, metaverses are a multiplayer playing ground, based entirely in virtual reality servers, where people can live virtual lives governed by a set of rules and prerequisites.

Decentraland is one of the first metaverses to launch and has become a huge hit ever since. Decentraland operates on Ethereum tech, allowing users to dive into a virtual reality where they can live out a digital life that circulates around the MANA crypto coin (based oinEthereum blockchain tech).

As convoluted as this may sound at first, the Metaverse concept has gained momentum over the last couple of years, while Facebook’s recent “Meta” announcement has accelerated the spread.

Not many details have been revealed thus far, yet what we do know is that Barbados’ presence in the Metaverse will serve as a huge unofficial advertisement campaign for metaverse brands as a whole, and we are expecting many governments to follow in their footsteps. Moreover, the official release revealed that the Embassy will attempt to facilitate the unification of global technological companies.

Many critics of the move, as well as all-in-all skeptics, have proclaimed this to be a move simply to increase the circulation, popularity, and diversification of blockchain technologies.

Barbados is further considering purchasing virtual land on other metaverse brands. Gabriel Abed, the country’s ambassador to the United Arab Emirates. best said it when he commented on the plans on virtual land expansion, ”The metaverse is still very young and new, and we want to make sure what we build is transferable across the meta worlds,”

Virtual worlds are unlikely to reform the classic diplomatic means. It seems more likely that virtual worlds and countries will be expanding their business and fintech companies through direct virtual competition.

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