I think that these are good ideas, but it should probably be done without a heavy form of governance. Self governance is the key.
What I would recommend is establish what you're talking about as a sort of decentralized network with a really diverse modeling and mapping system, maybe just an engine and a network protocol. People could make their own little worlds, buildings, you name it, as well as their own custom models, as detailed or as soykafty as they like, People connect to the desired world through a server list of sorts.
I basically just want to be able to create an awesome chill spot and hangout with internet buddies all around the world, people can trade, socialize, do drugs, whatever. this could get better and better if we managed to blur the line between reality and the wired even more, with something similar to SAO's nervegear. I feel like an idea similar to JanusVR would be a good start. Maybe someday when we can port all of our brain data into microchips we can all live perpetually in our own little utopias.
Then again, a resource system being added in would make it really interesting and would ultimately lead to large governments, something that I would maybe want to experience in virtual reality a bit, as long as I can leave and go back to my own kingdom when I feel like it.