Understanding Metaverse-as-a-Service (MaaS)
As technology has advanced, businesses and service providers have increasingly shifted from a one-time fee model to a subscription-based model. This transition has given rise to various unique business models, such as Saas (software-as-a-service), IaaS (infrastructure-as-a-Service), and PaaS (platform-as-a-service), all stemming from the XaaS (Anything-as-a-Service) model.
In simple terms, the concept of “as-a-service” involves delivering technological products and solutions through cloud-based services. For example, instead of setting up expensive in-house database storage servers, companies can opt for pay-as-you-use services provided by third-party service providers like AWS, Microsoft, or Google. This approach offers benefits such as reduced capital expenditure, increased flexibility, and the ability to upgrade as needed.
With the emergence of the metaverse – an immersive virtual world powered by blockchain, artificial intelligence (AI), augmented reality (AR), and other technological innovations – there is a growing need for companies and individuals to participate. However, building a metaverse from scratch requires significant investment and expertise in the underlying technology, making it challenging for many.
To address this challenge, blockchain startups have introduced the concept of metaverse-as-a-service (MaaS). Similar to other as-a-service models, MaaS providers offer the necessary infrastructure and technology for users to build, manage, and maintain their own metaverses. The provider’s native token powers all the accompanying features and enables token holders to participate in the network’s governance and other DeFi primitives.
For example, the upcoming Bit.Country platform on the Polkadot Network provides an application framework and blockchain that anyone can use to build their personal metaverse. Users can also create personalized economies, NFTs, and other products to incentivize their respective communities.
According to Ray Lu, the Founder and CEO of Bit.Country and Metaverse.Network, MaaS can be thought of as another IT-based service. The key difference is the absence of centralized entities. Decentralized platforms and open protocols provide the service and infrastructure. Bit.Country and Metaverse.Network empower users to build their own metaverses using their MaaS solution. Users can implement economic infrastructure, governance, and immersive visual and interactive experiences without any knowledge of blockchain technology.
Ray Lu is the CEO and founder of Bit.Country and Metaverse.Network. With a strong interest and extensive experience in blockchain technology and decentralization, Ray is a prominent advocate for Web3 and the metaverse. He holds a bachelor’s degree in Computer Science and has also been involved in projects such as MVP.studio, IndustryConnect.org, and Thunder.University. Prior to starting Bit.Country, Ray collaborated with leading brands like Air New Zealand and Datacom.
Connect with Ray on LinkedIn.