On November 11th, NFT Steez, a bi-weekly Twitter Spaces hosted by Alyssa Expósito and Ray Salmond, had a discussion with Thomas Webb, the founder of the avatar game Worldwide Webb, about the integration of interoperability in Web3 and the metaverse.
Interoperability in Web3 refers to the ability of a product or system to seamlessly work across different platforms and with other products or services. Webb simplifies the concept by defining it as the creation of a nonfungible token (NFT), which cannot be controlled by anyone other than its creator.
But how does interoperability currently function in Web3, and what potential impact does it have?
Webb talked about the significant impact that interoperable applications can have, citing the creativity he has observed in NFT communities and brands. Whether it’s creating a product, generating ideas, or providing experiences, Webb believes that enabling the creation of intellectual property allows users to showcase their loyalty and achievements.
Webb also highlighted the role of interoperability in token-gated experiences. Users can use the tokens they hold as access passes to attend events and receive perks, bringing them closer to authentic experiences. This integration allows brands to collaborate, reach their users, and create infinite value.
Webb believes that interoperability could be the backbone of various sectors. Transparent and data-driven platforms can foster collaboration and engagement among tech companies. E-commerce, creative experiences, and even concepts like identity and self-sovereignty are expected to be impacted by interoperability.
However, Webb acknowledged the risks and challenges associated with creating a standard that suits all countries. The presence of centralized regulatory bodies could hinder experimentation and growth.
To learn more about the conversation, listen to the full episode of NFT Steez, and mark your calendar for the next episode on December 2nd at 12 pm EST.
Please note that the views and opinions expressed in this article are those of the author and do not necessarily reflect the views of Cointelegraph.com. Investing and trading involve risks, so it is important to conduct your own research before making any decisions.