Metaverse Summit Roadshow

[Metaverse Summit] Blockchain Gaming Guilds, decentralized community beyond Play-to-earn

[Metaverse Summit] Blockchain Gaming Guilds, decentralized community beyond Play-to-earn

With the emergence of the Play-to-Earn business model, comes a new type of gaming guilds. By playing various crypto games, a guild is able to obtain as many NFTs as possible from various sources, and most of them aim to create their own NFT market if they did not do so already. With the launch of tokens, Crypto guilds have the potential to solve the centralization problem that traditional guilds have.

Mirko from Unix Gaming shared with us the creation and community of an emerging gaming guild.

There is a big difference between traditional gaming guilds and crypto game guilds. While the traditional type is limited to the game, and it can rise or fall with it, the crypto variant aims to become a platform to support new gamers.

00:00 intro

00:21 Today we have a miracle from Unix.

01:10 Tell us about what kind of game did you play before crypto gaming?

04:41 What is Unix today?

14:16 What’s Play to earn and do you think there will be more « Axie » this year?

19:17 You mentioned the number of Unix since last year.

26:04 Do you think this can play out?

32:19 How do you think two different kinds of metabolism development can merge?

32:34 What’s your vision of metaverse this year and in five to ten years?

40:25 Telling us all the experiences building Unix

Blockchain Gaming Guilds, decentralized community beyond Play-to-earn

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[Metaverse Masterclass] How AI, VR, AR, 5G, and blockchain may converge to power the metaverse

This is an article by Gary Grossman, the Senior VP of Technology Practice at Edelman and Global Lead of the Edelman AI Center of Excellence.

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Emerging technologies including AI, virtual reality (VR), augmented reality (AR), 5G, and blockchain (and related digital currencies) have all progressed on their own merits and timeline. Each has found a degree of application, though clearly AI has progressed the furthest. Each technology is maturing while overcoming challenges ranging from blockchain’s energy consumption to VR’s propensity for inducing nausea. They will likely converge in readiness over the next several years, underpinned by the now ubiquitous cloud computing for elasticity and scale. And in that convergence, the sum will be far greater than the parts. The catalyst for this convergence will be the metaverse — a connected network of always-on 3D virtual worlds.

The metaverse concept has wide-sweeping potential. On one level, it could be a 3D social media channel with messaging targeted perfectly to every user by AI. That’s the Meta (previously Facebook) vision. It also has the potential to be an all-encompassing platform for information, entertainment, and work.UnmuteAdvanced SettingsFullscreenPauseUp NextHow the World’s Largest Staffing Company ‘Randstad’ Generated 1000% ROI by Streamlining Risk and Safety Processes Using a No Code Platform._

There will be multiple metaverses, at least initially, with some tailored to specific interests such as gaming or sports. The key distinction between current technology and the metaverse is the immersive possibilities the metaverse offers, which is why Meta, Microsoft, Nvidia, and others are investing so heavily in it. It may also become the next versionof the Internet.

Instead of watching the news, you could feel as if you are in the news. Instead of learning history by reading about an event in a book – such as Washington crossing the Delaware – you could virtually witness the event from the shore or from a boat. Instead of watching a basketball game on television, you could experience it in 360-surround. People could attend a conference virtually, watch the keynotes, and meet with others. In the metaverse, our digital presence will increasingly supplement our real one. According to Meta CEO Mark Zuckerberg, the metaverse could be the next best thing to a working teleportation device.

As described by Monica White in Digital Trends, “The metaverse is meant to replace, or improve, real-life functionality in a virtual space. Things that users do in their day-to-day life, such as attending classes or going to work, can all be done in the metaverse instead.” For example, the metaverse could offer an entirely new 3D platform for ecommerce. Imagine a virtual reality shopping experience, virtually walking the aisles of a megastore stocked by a multitude of platform partner companies tailored specifically for you, where promotional messages are designed with only you in mind, and the only items displayed are the ones in stock and available to ship. In this store, on sale items are selected based on your tastes and expected needs, and value-based pricing is dynamically updated in real-time, based either on the age of the product (if a perishable item), supply and demand, or both.

First there was Second Life

While the metaverse feels fresh and futuristic, we’ve been here before. In addition to early visionaries Neal Stephenson and William Gibson, who described the metaverse in fiction, a very real metaverse was created in 2003. It was known as Second Life, and millions of people rushed to the platform to experience an alternate digital universe replete with avatars. NBC describedSecond Life as an “online virtual world where avatars do the kind of stuff real people do in real life: Buy stuff. Sell stuff. Gamble. Listen to music. Buy property. Flirt. Play games. Watch movies. Have sex.” Harvard University even taught online classes within Second Life. Second Life was so successful that it was the subject of a 2006 cover story in BusinessWeek.

Caption: Second Life makes the cover of BusinessWeek in May 2006.

However, Second Life’s popularity dropped soon after. As described in a 2007 Computerworld article, the experience suffered due to a “poor UI, robust technical requirements, a steep learning curve, an inability to scale, and numerous distractions.” And then Facebook came along and offered a more compelling experience.

In 2007, there was no VR, AR, 5G, blockchain or digital currency. Cloud computing was in its infancy, and the mobile internet was still emerging as the first iPhone had just been introduced. Further, AI still had limited impact, since the deep learning boom was still a few years away. Perhaps that is why Meta is now enamored with the idea of the metaverse as it seeks to combine the most compelling (and consumer-tested) elements of Facebook and Second Life, based on an entirely new platform powered by the latest technology.

Emerging technologies near ready

Several of the technologies that will enable the metaverse, including virtual and augmented reality and blockchain, have been slow to mature but are approaching a level of capability that is critical for success. Each has been missing the killer app that will drive development and widespread adoption forward. The metaverse could be that app.

For VR, most headsets still need to be tethered to a PC or gaming console to achieve the processing power and communication speed required for smooth and immersive experiences. Only Meta’s Oculus Quest 2 has so far broken free of this cable constraint. But even that headset remains bulky, according to one of Meta’s VPs. With ever faster processors and higher speed wireless communications on the near horizon, better visual resolution and untethered experiences should emerge over the next few years.

AR has achieved mostly niche adoption. In part, AR prospects likely suffered due to the high-profile market failure of Google Glass when introduced in 2012. And while Pokemon Go provided a huge lift for the technology in 2016, there has not been a similar phenomenon since. But an important new player is apparently readying to enter the market: Perhaps spurred by the metaverse concept and moves by competitors, Apple is expected to release its first AR/VR headset in late 2022. Apple has a penchant for entering a market well after the first movers have proven viability, then going on to dominate. It is a reasonable conclusion that this is the company’s plan for the metaverse.

Blockchain underlies cryptocurrencies such as bitcoin and would enable virtual goods and identities to be purchased and seamlessly transferred between various metaverse platforms. New blockchain applications such as NFTs are leading to greater adoption, potentially pointing to a new economy. The Wall Street Journal reported that the race is now on to extend this technology to all types of assets, adding that blockchain-based payments are superior to our legacy financial infrastructure. Similarly, the New York Times reported that venture capital fundshave invested about $27 billion into crypto and blockchain companies in 2021, more than the previous 10 years combined.

Metaverse prospects

While some brands are already rushing to capitalize on the metaverse fever, the metaverse will likely evolve in fits and starts, with widespread adoption still years away. This is because the needed technologies still have a way to go to optimize their functionality, ease of use, and cost. One semiconductor company has said that a truly immersive metaverse will require a 1,000-times increase in compute efficiency over today’s state-of-the-art processors. While that is a huge increase, the company separately presented at a recent “Architecture Day” that it expects to achieve that goal by 2025.

Whether it takes three years or 10, there is huge momentum behind the metaverse, with seemingly unlimited funding. Even at the current stage of development, Boeing has committed to designing its next-generation aircraft within the metaverse, using digital twins and Microsoft HoloLens headsets.

Kirby Winfield, Founding General Partner of VC firm Ascend, sees the metaverse as “the latest evolution of [an] ongoing shift to an increasingly digital life.” When it arrives in full, that shift will achieve the immersive sci-fi visions of many.

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[Metaverse News] Mojo Vision raises $45M for AR contact lenses with sports applications

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Mojo Vision has raised $45 million to adapt its augmented reality contact lenses to work with sports and fitness applications.

Saratoga, California-based Mojo Vision bills itself as the Invisible Computing Company. It is announcing strategic partnerships with sports and fitness brands to collaborate on next-generation user experiences that combine augmented reality, wearable technology, and personal performance data.

The companies will work together using Mojo’s smart contact lens technology, Mojo Lens, to find unique ways to improve access to data and enhance athletes’ performance during sporting activities.

The additional funding includes investments from Amazon Alexa Fund, PTC, Edge Investments, HiJoJo Partners, and others. Existing investors NEA, Liberty Global Ventures, Advantech Capital, AME Cloud Ventures, Dolby Family Ventures, Motorola Solutions, and Open Field Capital have also participated.

Mojo Vision sees an opportunity in the wearables market to deliver performance data and real-time stats to data-conscious athletes like runners, cyclists, gym users, golfers, and more through Mojo Lens’ intuitive hands-free, eye-controlled user interface.

Strategic partnerships

Mojo is making augmented reality contact lenses.

Above: Mojo Vision is making augmented reality contact lenses.Image Credit: Mojo Vision

Mojo Vision is engaging in several strategic partnerships with fitness brands to address the unmet performance data needs of athletes and sports enthusiasts. The company’s initial partnerships include Adidas Running (running/training), Trailforks (cycling, hiking/outdoors), Wearable X (yoga), Slopes (snow sports), and 18Birdies (golf).

Through these strategic partnerships and the market expertise the companies provide, Mojo Vision will explore additional smart contact lens interfaces and experiences to understand and improve the delivery of data for athletes of varying skill levels and abilities.

“We are making important progress in developing our smart contact lens technology, and we continue to research and identify new market potential for this groundbreaking platform,” said Steve Sinclair, senior vice president of product and marketing of Mojo Vision, in a statement. “Our partnerships with these leading brands will give us valuable insights into user behavior in the sports and fitness market. The goal is for these collaborations to deliver athletes an entirely new form factor with performance data that is more accessible and useful [at] the moment.”

Recent research from the International Data Corporation (IDC) shows global wearables shipments grew 32.3% year-over-year from 2020 to 2021. This significant and sustained growth in the wearable tech market is led by companies that continue to refine and release fitness trackers, smartwatches, smartphone apps, and other wearable devices aimed largely at bettering the user experience for sports and fitness enthusiasts. Yet, new data shows there may be a gap in the type of data and the accessibility of that data that athletes and fitness enthusiasts want.

In a new survey of over 1,300 athletes, Mojo Vision found that athletes very much rely on wearable data and are expressing a need for different ways for data to be delivered. The study showed that almost three out of four (74%) people usually or always use a wearable to track performance data during their workout or activity.

However, even though today’s athletes rely on wearable tech, there is a substantial appetite for devices that can better deliver access to real-time data about their performance — 83% of respondents said they would benefit from data in real-time or in the moment.

Additionally, half of the respondents said that of the three times (before, during, and after their workout) they receive performance data from their devices, in-the-moment or “during data,” was the most valuable type.

Mojo Lens, backed by years of scientific research and numerous technology patents, overlays images, symbols, and text on users’ natural field of vision without obstructing their view, restricting mobility, or hindering social interactions. Mojo calls this experience Invisible Computing.

In addition to the sports and wearable tech market, Mojo is planning an early application of its product to help people struggling with vision impairment by using enhanced image overlays.

Mojo Vision is actively working with the U.S. Food and Drug Administration (FDA) through its Breakthrough Devices Program, a voluntary program designed to provide safe and timely access to medical devices that can help treat irreversibly debilitating diseases or conditions.

These new investments bring Mojo Vision’s total funding to date to $205 million.

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[Metaverse News] Sony announced PlayStation VR2 and its Sense controller as “the next generation of VR gaming on PS5”

This is an article by Hideaki Nishino Senior Vice President, Platform Experience

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Happy New Year everyone.

It is my great pleasure to start off 2022 with news on our next generation virtual reality system for the PS5 console, starting with the official name: PlayStation VR2, and our new VR controller, PlayStation VR2 Sense controller.

PlayStation VR2 takes VR gaming to a whole new level, enabling a greater sense of presence and allowing players to escape into game worlds like never before. With the headset on and controllers in hand, players will feel a heightened range of sensations unlike any other – thanks to the creativity of the game worlds being built by our world class developers, and the latest technology incorporated into the hardware.

Building upon our innovations from PS5, PlayStation VR2 adds a true next-gen experience with high-fidelity visuals, new sensory features, and enhanced tracking – along with a simplified single-cord setup. 

  • Visual Fidelity: For a high-fidelity visual experience, PS VR2 offers 4K HDR, 110-degree field of view, and foveated rendering. With an OLED display, players can expect a display resolution of 2000×2040 per eye and smooth frame rates of 90/120Hz.
  • Headset-based Controller Tracking: With inside-out tracking, PS VR2 tracks you and your controller through integrated cameras embedded in the VR headset. Your movements and the direction you look at are reflected in-game without the need for an external camera.
  • New Sensory Features: PS VR2 Sense Technology combines eye tracking, headset feedback, 3D Audio, and the innovative PS VR2 Sense controller to create an incredibly deep feeling of immersion. Headset feedback is a new sensory feature that amplifies the sensations of in-game actions from the player. It’s created by a single built-in motor with vibrations that add an intelligent tactile element, bringing players closer to the gameplay experience. For example, gamers can feel a character’s elevated pulse during tense moments, the rush of objects passing close to the character’s head, or the thrust of a vehicle as the character speeds forward. Additionally, PS5’s Tempest 3D AudioTech makes sounds in the player’s surroundings come alive, adding to this new level of immersion.
  • Eye Tracking: With eye tracking, PS VR2 detects the motion of your eyes, so a simple look in a specific direction can create an additional input for the game character. This allows players to interact more intuitively in new and lifelike ways, allowing for a heightened emotional response and enhanced expression that provide a new level of realism in gaming. 

All of these advancements in PlayStation VR2, combined with the haptic feedback and adaptive triggers from the PS VR2 Sense controllers, enable players to feel and interact with games in a much more visceral way. PS VR2 will also have a simple setup process — with a single cable connected directly to PS5, you can immediately jump into the VR experience.

Today we are also pleased to reveal that one of the biggest exclusive franchises on PlayStation will be coming to PS VR2 – Horizon Call of the Mountain from Guerrilla and Firesprite. This original game is being built specifically for PS VR2 and will open the doors for players to go deeper into the world of Horizon.

I hope you’ve enjoyed today’s exciting updates. Just remember, this is only a taste of things to come, and I can’t wait to share more details with you about PS VR2. In the meantime, below is the list of official specifications.

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[Metaverse News] Disney Patents An Augmented Virtual World Simulator That Doesn’t Need a Headset Or Glasses

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Disney’s Virtual World Simulator could mark a step forward for augmented reality.

Disney has filed a patent for a Virtual World Simulator that will allow it to simulate augmented digital worlds without the need for users to wear headsets or glasses.

As reported by, the Walt Disney Company was granted a patent by the U.S. Patent and Trademark company on December 28 that will allow the company to create real-world theme park rides where multiple users will be able to simultaneously experience a 3D virtual world without the need for wearable peripherals. 

As per the patent, Disney’s virtual spaces would be created using an array of high-speed projectors and a method known as SLAM, short for “Simultaneous Localization and Mapping.” This will allow them to continuously track and determine a user’s moving perspective as they move throughout a ride or attraction within one of the company’s parks. 

A similar theme park experience was introduced at Super Nintendo World with the addition of its Mario Kart: Koopa’s Challenge ride. The ride, which allows its visitors to race through a course loosely based upon stages from the Mario Kart series, includes its very own augmented reality feature as guests hop into their very own Mario Kart track. 

During the experience, an augmented reality headband displays animated characters and directional arrows in front of your eyes, which players can then ‘drive’ toward using the rides in-built steering wheel to collect items from boxes.

Disney’s move to create similar experiences without the need and use of additional wearable tech will look to mark a step forward for the sector, and is likely to turn the heads of theme park enthusiasts when its plans to introduce the technology come to fruition. 

In addition to creating immersive theme park experiences, Disney’s patent also appears to note that the technology could be adapted for home use. The patent states that the virtual world simulator could be used to enable the transformation of a real-world venue, in the form of a personal residence or photography studio, into a movie set without requiring the user to leave their home. While this still feels like it could be some way off, the notion that the company is working on such technologies is still a very exciting prospect. 

For more news from Disney, make sure to check out this article detailing the ten best rides from across Disneyland and Disneyland California. And, if you’ve read that then take a look at our complete rundown of the best activities to get involved with at Super Nintendo World.

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[Metaverse News] Decentraland Royalties launch aiming to reward creators

The first fully decentralised world has announced some important news for creators. Conversations revolving around adequately paying creators within DAO spaces have been rife. Decentralised Autonomous Organisation, Decentraland has always intended to hand over the world to those who create and play in their lands. Decentraland royalties launched with a bang.

The powerhouse that is Decentraland has introduced a royalty payment in its secondary sales system. The update allows creators of wearables to receive additional payment every time an item they created sells.

Wearable creators will get an extra 2.5% in their pockets out of a re-sale. If 2.5% doesn’t sound like a tasty amount there is an option to override this function. It is possible to change the commission percentage if so wanted using the management tool.

The framework which Decentraland worked from before was 2.5% of every sale went straight to DAO directly. The creators of wearables would only receive a one-off royalty payment for their creation. Once the wearable is out of the creator’s hands, they can’t profit from it. Decentraland has decided to turn the tables and allow the creators of the wearable to decide whether or not they would like an ongoing royalties from re-sales.

This highlights a breakthrough for contributors to the metaverse. The update is now live, however, it only applies to new listings. So, any made before the launch are not eligible to receive royalty payments.

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[Metaverse News] Shanghai doubles down on the metaverse by including it in a development plan

  • This is published on CNBC originally by Evelyn Cheng.
  • A Shanghai city department released Thursday its five-year development plan, which included encouraging metaverse use in public services, business offices and other areas.
  • The metaverse has become a buzzword in the last few months as businesses, investors and developers predict it could form the next generation of the internet.
  • Chinese media reports said the Shanghai city document marked the first time a local government mentioned the metaverse in its plans for implementing Beijing’s five-year plan released in March.

BEIJING — China’s biggest city is getting serious about the metaverse, the technology that’s drawn mass attention this year for its potential to form the next generation of the internet.

Chinese government departments and local authorities have issued five-year development plans this year to show how they aim to implement the central government’s five-year plan issued in March.

One released by Shanghai on Thursday contained the first mention of the metaverse, according to Chinese media reports. The technology extends human interactions to a virtual world of three-dimensional avatars.

The metaverse is one of four frontiers for exploration, the Shanghai Municipal Commission of Economy and Information Technology said in its five-year plan for developing the electronic information industry.

The document called for “encouraging the application of the metaverse in areas such as public services, business offices, social entertainment, industrial manufacturing, production safety and electronic games,” according to a CNBC translation of the Chinese text.

The commission said it plans to increase research and development of underlying technologies, including sensors, real-time interaction and blockchain.

The document did not lay out a specific timeline or goals for metaverse research and development.

Beijing’s latest five-year plan released in March named seven “frontier” technologies China would focus on as it seeks self-reliance in science and technology.

The metaverse has since become a buzzword, most notably with American social network giant Facebook changing its name to Meta in October. Then earlier this month, Microsoft co-founder Bill Gates said he expects most virtual meetings will move to the metaverse within the next two or three years.

This week, Beijing-based Baidu held what it claims to be China’s first conference in the metaverse. The event was meant to mark the opening of Baidu’s metaverse app to developers, and an executive told reporters he expects it will be six years before the full launch of the app.

In addition to general metaverse buzz on Chinese social media, state media has published several articles on the topic, primarily about the risk of scams.

After a year of bans and greater regulation on various kinds of technology, including cryptocurrencies, new rules on metaverse development are likely next, Winston Ma, adjunct professor of law at New York University, said Friday on CNBC’s “Squawk Box Asia.”

He pointed to how some aspects of the metaverse’s global development are related to gaming and cryptocurrency products like non-fungible tokens, all of which have come under greater scrutiny in China. Ma was not speaking in the specific context of the Shanghai commission’s development plans.

— CNBC’s Eustance Huang contributed to this report.

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[Metaverse Masterclass] Axie Infinity Dev Journal: Economic Balancing

“Metaverse Masterclass” is a series of reports, articles and interviews from experts around different topics in Metaverse. This is an article by Axie Infinity here.

We should collectively work to improve the economic balance of our community assets. We’d like to provide a framework to start this conversation.

One of the most common topics of conversation within the Axie Infinity ecosystem recently is around the Smooth Love Potion (SLP). We’ve been amazed by the level of thoughtful input you all have shared with us, and we also empathize with many of your concerns. That said, we wanted to write to you all in the new year with the hope of sharing some history, some statistics, and some of our current thinking as we further develop the economic models around SLP.

We released SLP in December 2019 as a utility token which enabled Axie breeding. While its core purpose was humble, the community’s response to SLP’s release made it clear quite early on that something very special in game economy history was occurring. These evolutions in SLP’s use in tandem with the explosive growth of 2021, has driven both incredible growth in the liquidity as well as some fundamental inflation in the token over time.

To put things in perspective, the average amount of SLP burned per day has grown over 500x (50,000%) through 2021! However, that must be contrasted with breakneck SLP creation, which historically has consistently outpaced its use, and has additionally grown over 160x (16,000%) over the last 12 months. Today’s data shows a growing chasm between SLP minted vs. SLP burned (Figure 1). This inflation in the token is not sustainable.

Figure 1: Daily SLP burn, mint and net emissions 

The primary complexity in economic balancing of SLP comes from the difficulty in predicting future player growth alongside timing further releases of products within our gaming ecosystem.  As hopefully you all know, we are working on a number of new gaming experiences, including the next generation of our battles experience (Origins) and a new land-based gaming experience (Project K).   Each of these games will include a number of new features that will affect the economy balance.  We’ve also invested significant time and effort over the past year into scaling our systems to accommodate the growth and build out the foundational blockchain components needed for our ecosystem (e.g. Ronin, Katana, Staking).  All of these efforts often have come at the sacrifice of improving our existing gameplay systems.  However, we want to reassure you that we are looking to prioritize experimenting with short-term approaches towards managing SLP’s inflation in the new year. 

Please know that we are listening to all of you. You all have given us a number of ideas to consider in the short term while the Sky Mavis team has come up with some as well. In short, SLP economics evolve with changes to its supply and demand. We wanted to review a few of the more popular shorter term supply / demand ideas emerging within the community:

Decrease supply:

  • Iteratively balance all in-game SLP rewards: The current alpha gaming experience continues to be refined on multiple fronts while player activity has evolved in surprising ways. As such, with the continuous balancing process, we may need to manually reduce SLP emission rates for daily quests, PvP, and PvE. Over the longer run, we’re hoping this can be adjusted more dynamically.
  • Change ratios of in-game incentives: SLP is not the only token within our ecosystem.  In fact, our long term vision is for a more equitable distribution of AXS rewards through gameplay.  We want top players to gain influence within our community.  We are evaluating ways to do this without inadvertently creating inflation problems for AXS as well. Unfortunately, we currently do not have the functionality to distribute AXS as a battle reward and so would need to spin off engineering effort from other projects to work on this. In the meantime, we are considering increasing AXS in Leaderboard rewards and reducing SLP rewards to high MMR players as one option.
  • Reduce SLP produced through non-skilled / automated / botting techniques: We received a number of recommendations from the community focused around reducing SLP rewards for parts of the game most vulnerable to automation or botting techniques.  Specifically, SLP won during PvE battles. This could occur in a few ways, including overall reductions in PvE emissions, or by updating the Daily Quest requirement splits to be more Arena focused over Adventure to make it easier for real players to earn.  This unfortunately isn’t a precise science, and it’s likely that some real people will earn less SLP because of this change. Another idea would be to require energy to earn SLP in PVE. This is currently not the case in that players can still hit the 50 SLP cap when they’re out of energy.

Increase demand:

  • Axie releasing / burning / consumption: This is a very significant feature that we have to be very careful around, and takes significant engineering effort to build. However, we plan on releasing some smaller tests this year to be able to validate the mechanic iteratively. Since the primary utility of SLP is to create new Axies, having this burning mechanism for Axies would increase demand for SLP (and AXS).
  • Community SLP buy back: We may allocate some of the Marketplace fee for a limited time to buy back SLP in the market into the Treasury. This would only be done in unique circumstances as maintaining the fee is important to sustainability of the Community Treasury. 

Needless to say, there are many factors we have to consider for each of these ideas, so ultimately we cannot make any promises as to which will be implemented. However, know that we are spending a lot of time and effort across our teams figuring out how we can make positive adjustments. It’s also worth noting that this above list doesn’t include all of the longer term ideas you’ve shared, including introducing Axie cosmetics and tournaments.

We’d like to hear from you.  Which of these approaches do you like best and why?  Are there others not mentioned here you think we should consider? Feel free to share your thoughts on Twitter using the #AxieEconBalance hashtag.

As a final note, we want to speak a bit about the MMR reset that happened earlier today for the Season 19 Off-season. First, we want to say that we originally planned to announce it with this blog post and made a mistake to reset it beforehand. We will learn from that misstep. 

We had looked into doing more granular MMR reset adjustments for different levels of MMR, but it wasn’t feasible given numerous factors and trade-offs (especially technical limitations). That said, this MMR reset will help make sure that SLP supply and demand are closer to balance. We observed that over time, MMR inflation was happening as the player-base grew, meaning more and more SLP was being produced each offseason. In addition, off-seasons have been increasing in time and length, especially now that we would like to release balancing updates in the middle of off-season rather than at the beginning of the season.

We saw that average SLP per PVP battle increased by ~40% over the course of Season 19 (from Day 1 to last day of the season). We believe that resetting off-season MMR reduces unnecessary supply, and ultimately leads to a more balanced SLP economy.

We want to reiterate that we care deeply about the economy and the Axie Infinity community. We spend considerable time thinking deeply about the tradeoffs between short and long term economic balancing. While we will continue to lean strongly towards the long term growth and sustainability of our ecosystem, we want you to know that we plan to shift some of our focus towards certain short-term issues that have emerged. We know it’s important.

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[Metaverse News] Most Promising Metaverse Projects For 2022, Funding Roundup Edition

This year was a sizzling one for crypto and blockchain projects, with the growth of the DeFi world and lots of innovations in the NFT and play-to-earn games fields. A…By Cristian Bustos. This story originally appeared on ValueWalk

This year was a sizzling one for crypto and blockchain projects, with the growth of the DeFi world and lots of innovations in the NFT and play-to-earn games fields. A proper niche is emerging, one that is increasingly attracting mainstream users —something that can be seen as the greatest achievement of 2021.geralt / Pixabay – Valuewalk

Q3 2021 hedge fund letters, conferences and more

Looking into 2022, there are opportunities galore thanks to the myriad of innovative, startup-led projects that blossomed this year. These are the hottest crypto projects that are bound to shake up this industry.

SynCity, The Most Successful Binance IGO

SynCity is a free play-to-earn crypto game that is aiming at offering wider access to potential users. As blockchain veterans and gamers already know, play-to-earn games have gained substantial popularity as they offer the chance to get paid a full-time salary while playing online.null

However, since the most-liked crypto games —such as Axie Infinit— require an initial investment to enter, SynCity is free and enables all users to spring right into action. It is also the first Mafia-based crypto game with a unique “Mafia as a DAO” governance system, through which gamers are able to manage their own syndicates.

SynCity has collected over $3.5 million in the first 30 minutes of its IGO launch on Binance, where users have been able to primarily purchase NFTs and tokens to be used in-game.

Further, SynCity IGO’s success came right after the company, led by the former head of business Roy Liu at TRON —Corner Growth Acquisition Corp 2 (NASDAQ:TRON)— had raised $8 million in a November fundraising round by Twitchco-founder Justin Kan and Goat Capital. Other participants included A&T CapitalHack VCAnimoca Brands (ASX:AB1) and Spartan Group.

Right now, it is rated as #1 for collections on the Binance NFT Platform, and with over 200,000 subscribers it might blow up the crypto-game ecosystem.

SPACE, The Social Commerce Platform

This is a social commerce platform for the SPACE Metaverse that just recently raised $7 million from numerous well-known VCs such as CoinfundDapper LabsDigital Currency GroupAnimoca BrandsHof Capital, and more.null

Since the cryptocurrency and the DeFiworlds are very “techy” —despite being convenient and secure – SPACE wants to bring back the human aspect of the experience. The social ecosystem offers users the chance to virtually gather, chat, and naturally evolve a community-managed economic environment.

With dedicated virtual rooms, SPACE allows people and businesses to access the metaverse and sell items such as works of art, fashion, and music, hence incentivizing collaboration with users who want to create and evolve virtual businesses with a dedicated tool-kit.

As the founder of SPACE Metaverse Batis Samadian said, the SPACE hub aims to become the “Shopify of the Metaverse.”

DOGAMÍ, The NFT-based Crypto Game

So far NFTs and play-to-earn games have boomed separately. While most P2E games are NFT-based, they are still a bit of a sideshow compared to the game itself. Imagine an NFT collection that also has gamified mechanics, like the ability to upgrade and develop NFTs and increase their rarity.

One such NFT-based crypto-game that has hogged attention in the last few days is DOGAMÍ. Supported on the Tezosblockchain —which relies on the eco-friendly proof-of-stake consensus mechanism— DOGAMÍ enables users to breed and raise virtual 3D puppies.null

Being able to choose between over 300 dog breeds, each NFT-based puppy is unique and leads to earning DOGA Tokens as rewards for completing tasks. DOGA Tokens can be used for in-game purchasing and upgrades or exchanged on secondary centralized and decentralized markets.

Besides aiming to create value, DOGAMÍ wants users to interact through an AR mobile app to bond with the puppies. With this additional feature, DOGAMì focuses on developing an entire “Petaverse” for its users.

DOGAMÍ has recently secured $6 million from high-rated companies such as UbisoftAnimoca Brands, The Sandbox‘s co-founders, XAngeBlockchain Founder FundGhaf Capital, and Draper Goren Holm.

Metaverse Blog Metaverse News

[Metaverse News] Seedify Invites Artists to Create The Assets of the Metaverse, with a 10 Million $ Grant Program

Seedify announed their new program to incubate artists, the collections will be buyable through Seedify IMO (Initial Metaverse Offering) Launchpad, at mint prices, available only to those who stake & farm SFUND tokens during IMOs. The news was announced here.

Hello Seedify Community!

We are thrilled to share this new program, calling all digital artists and metaverse enthusiasts to create the assets of the next generation virtual worlds with us!

Within a period of 6 months, we will be devoting a minimum of 10 million $ worth of SFUNDs, to foster the creation of different sets of unique NFT assets and collections that will be usable within different metaverses.

These will range from vehicles, cars, clothing, avatars, decorations, guns & weaponry, houses, and all types of assets that will have a place in the metaverse. Rather than focusing on one single metaverse, we will be leaving the decision to artists on which metaverse they want to create their collections for, staying agnostic.

These collections will be buyable through Seedify IMO (Initial Metaverse Offering) Launchpad, at mint prices, available only to those who stake & farm SFUND tokens during IMOs. Bringing new allocation opportunities through SFUND token, and adding a complete new utility

Seedify Metaverse Asset Program will be fostering the creation of high quality unique collections, through picking the best artists and teams; by analyzing their past portfoliosuniqueness of their collection ideasconcept visualsas well as extra utilities that may come with these assets, and more.

While life in the metaverse is getting closer than ever, asset ownership will be undeniably powerful while we are forming our new digital identities.

Sometimes for swag, other times for fun factors & utilities, and often for financial benefits that come from holding unique pieces, metaverse assets will have a much bigger space in our lives, not too far from now.

As Seedify, while we have been mainly focusing on blockchain gaming and play to earn ecosystem, virtual worlds we call as metaverses are definitely here to stay and grow more popular.

While the old paradigm was playing games in our computers, gaming consoles and smart phones, metaverse will be offering a paradigm in which we can virtually exist, socialize, play, own, earn, trade, and more…

Boundaries of life as we know, is in a huge evolution to say the least.

As Seedify, while we are forming solid roots in blockchain gaming, play to earn, and the metaverse, we also got a giant community now that has one of its’ foot in the next gen human existence. Therefore, there is no other way but to dive deeper and explore what more we can do together!

The month of December is going to be about pushing ourselves to breach the limits even more. Besides a full schedule of amazing blockchain games and metaverses, we will be dedicating the rest of our energy, time and resources to set up the foundational work for the best IMO (Initial Metaverse Offerings) platform.

In its simplicity, this program will be onboarding hundreds of great artists, illustrators, designers, architects etc; give them financial freedom to work on their art, and provide an avenue to the people of future metaverses and of course Seedify community, to start to gather their metaverse NFT assets.

The criterias and application to join to Seedify Metaverse Asset Program will be announced in our next article for artists and creators.

The artists and creators who are selected will be able to showcase their arts and crafts in Seedify IMO platform, have the support systems to create sold-out collections, make money through their art, as well as have spaces to promote their collections in our other showrooms in the selected metaverses exposing them to a wider range of audiences.

Along with the grants, the creators will also be getting royalty from these NFT sales for a lifetime of their trades.

This is all for now, the grant criteria, application form and more will be disclosed in our next article which will be available in the next few days.

Await us.

Metaverse Blog Metaverse News

[Metaverse News] Coinbase : 10 Predictions for Web3 and the Cryptoeconomy for 2022

Coinbase published a prediction of 2022. It has mentioned the potential of NFT , DAO, end of march of web2 companies towards Web3. This article is originally published here, By Surojit Chatterjee, Chief Product Officer

2021 proved to be a breakout year for crypto with BTC price gaining almost 70% yoy, Defi hitting $150B in value locked, and NFTs emerging as a new category. Here’s my view through the crystal ball into 2022 and what it holds for our industry:

1. Eth scalability will improve, but newer L1 chains will see substantial growth — As we welcome the next hundred million users to crypto and Web3, scalability challenges for Eth are likely to grow. I am optimistic about improvements in Eth scalability with the emergence of Eth2 and many L2 rollups. Traction of Solana, Avalanche and other L1 chains shows that we’ll live in a multi-chain world in the future. We’re also going to see newer L1 chains emerge that focus on specific use cases such as gaming or social media.

2. There will be significant usability improvements in L1-L2 bridges — As more L1 networks gain traction and L2s become bigger, our industry will desperately seek improvements in speed and usability of cross-L1 and L1-L2 bridges. We’re likely to see interesting developments in usability of bridges in the coming year.

3. Zero knowledge proof technology will get increased traction — 2021 saw protocols like ZkSync and Starknet beginning to get traction. As L1 chains get clogged with increased usage, ZK-rollup technology will attract both investor and user attention. We’ll see new privacy-centric use cases emerge, including privacy-safe applications, and gaming models that have privacy built into the core. This may also bring in more regulator attention to crypto as KYC/AML could be a real challenge in privacy centric networks.

4. Regulated Defi and emergence of on-chain KYC attestation — Many Defi protocols will embrace regulation and will create separate KYC user pools. Decentralized identity and on-chain KYC attestation services will play key roles in connecting users’ real identity with Defi wallet endpoints. We’ll see more acceptance of ENS type addresses, and new systems from cross chain name resolution will emerge.

5. Institutions will play a much bigger role in Defi participation — Institutions are increasingly interested in participating in Defi. For starters, institutions are attracted to higher than average interest-based returns compared to traditional financial products. Also, cost reduction in providing financial services using Defi opens up interesting opportunities for institutions. However, they are still hesitant to participate in Defi. Institutions want to confirm that they are only transacting with known counterparties that have completed a KYC process. Growth of regulated Defi and on-chain KYC attestation will help institutions gain confidence in Defi.

6. Defi insurance will emerge — As Defi proliferates, it also becomes the target of security hacks. According to London-based firm Elliptic, total value lost by Defi exploits in 2021 totaled over $10B. To protect users from hacks, viable insurance protocols guaranteeing users’ funds against security breaches will emerge in 2022.

7. NFT Based Communities will give material competition to Web 2.0 social networks — NFTs will continue to expand in how they are perceived. We’ll see creator tokens or fan tokens take more of a first class seat. NFTs will become the next evolution of users’ digital identity and passport to the metaverse. Users will come together in small and diverse communities based on types of NFTs they own. User created metaverses will be the future of social networks and will start threatening the advertising driven centralized versions of social networks of today.

8. Brands will start actively participating in the metaverse and NFTs — Many brands are realizing that NFTs are great vehicles for brand marketing and establishing brand loyalty. Coca-Cola, Campbell’s, Dolce & Gabbana and Charmin released NFT collectibles in 2021. Adidas recently launched a new metaverse project with Bored Ape Yacht Club. We’re likely to see more interesting brand marketing initiatives using NFTs. NFTs and the metaverse will become the new Instagram for brands. And just like on Instagram, many brands may start as NFT native. We’ll also see many more celebrities jumping in the bandwagon and using NFTs to enhance their personal brand.

9. Web2 companies will wake up and will try to get into Web3 — We’re already seeing this with Facebook trying to recast itself as a Web3 company. We’re likely to see other big Web2 companies dipping their toes into Web3 and metaverse in 2022. However, many of them are likely to create centralized and closed network versions of the metaverse.

10. Time for DAO 2.0 — We’ll see DAOs become more mature and mainstream. More people will join DAOs, prompting a change in definition of employment — never receiving a formal offer letter, accepting tokens instead of or along with fixed salaries, and working in multiple DAO projects at the same time. DAOs will also confront new challenges in terms of figuring out how to do M&A, run payroll and benefits, and coordinate activities in larger and larger organizations. We’ll see a plethora of tools emerge to help DAOs execute with efficiency. Many DAOs will also figure out how to interact with traditional Web2 companies. We’re likely to see regulators taking more interest in DAOs and make an attempt to educate themselves on how DAOs work.

Thanks to our customers and the ecosystem for an incredible 2021. Looking forward to another year of building the foundations for Web3. Wagmi.

Metaverse Blog Metaverse Masterclass

[Metaverse Masterclass] Epic, Bored Apes and the Story of the Metaverse

“Metaverse Masterclass” is a series of reports, articles and interviews from experts around different topics in Metaverse. This is an article by Doug Thompson, origially published in Out of Scope.

“In Fortnite, you are INSIDE a narrative about the Metaverse. The Rift Tour may make that narrative even more explicit. But let’s not forget about the Bored Apes. Because there’s more than one story being played out.”

I find myself shooting at what I’m told aren’t portals.

Reality is breaking down.

Waves of energy radiate around me, capable of changing anything in the blink of an eye. Jones has turned into a butterfly.

All this is happening after running through a gauntlet of licensed characters. Er, I mean attackers.

Creatures from Aliens and The Terminator, Kratos from God of War and a digital Sigourney Weaver were all part of pitched battles while the blue orb rotated overhead.

But instead of shooting at it, what I really, really want to do is jump through that little tear in the fabric of reality:

Until I remember that while this looks like Fortnite, I’m actually inside a narrative about the Metaverse. And we aren’t ready to make that leap just yet.

Fortnite and The Rift Tour

This week, a ‘superstar’ will hold an event in Fortnite as part of the Rift Tour.

It’s rumoured that Ariana Grande will ‘perform’ based on leaked court documents and the creative winks and nods ahead of the event.

We’ll know more on Monday.

Regardless, the event has the potential scale of the Travis Scott concert which had 12.3 million concurrent ‘attendees’, 27.7 million unique players across 5 showtimes and 45.8 million views.

Those are the kinds of numbers that generated reams of news coverage. We had seen the future of the music industry, live events, and online social activities. And it was bigger than anyone expected.

The Rift Tour might not reach the same scale. But let’s say it does. It promises:

A musical journey into magical new realities where Fortnite and a record-breaking superstar collide.

New realities?

Wasn’t Zuckerberg talking about that?

While other companies have been suddenly talking a lot about the Metaverse, Ariana Grande (or whoever the record-breaking superstar is) might actually show us the way.

A Narrative ABOUT The Metaverse INSIDE The Metaverse

And that’s what’s potentially so profound about what Epic is doing with Fortnite. While Fortnite itself will NOT become the Metaverse on its own, it IS laying down some of the tracks to a time when all of our virtual worlds and galaxies are interconnected.

They’re creating a mythology, a story, a game mechanic and a publishing schedule in support of their stated desire to make the Metaverse happen.

They aren’t just expanding the size of their world, they’re creating a mythology, language, and rationale for why it will happen and what its value will be.

And so the Rift Tour isn’t interesting just because it might be a fun event with potentially millions of concurrent attendees. It’s also interesting because:

  • Epic will again have a chance to push the boundaries for the experience of attending an event in a virtual space. Travis Scott shattered many of the conventions of what a virtual performance can be. Think of it like some wild, slightly hallucinogenic Disney ride and you’ll get the idea. It’s all groundwork to answering a more important question than whether the Metaverse will be browser-based or viewed in VR: why will people show up? How do you make online spatial experiences entertaining and fun?
  • Second, how does it tie in, if at all, to the larger Fortnite narrative? The fact that it’s called the Rift Tour at least gives a passing nod to the idea. Because this narrative, in my view, doesn’t just support playing the game, it’s actually an uber-narrative about what the Metaverse is, translated in a language digestible to the 18–24 year olds who play.

A Complex Tale of Time, Power and Place

Now, let’s be clear: the Fortnite narrative is complicated. It somehow manages to reconcile Batman (and manage a limited edition comic as a spin-off in the process) and Deadpool.

There are time loops, rifts, shadowy agencies and a ton of branded and licensed content.

At first glance, it mostly seems like a convoluted excuse to change the Island up every now and then, to launch new skins and cosmetic enhancements (their main source of revenue outside of sponsorship), to justify new enemy characters and weapons, and to create partnerships with Ferrari or Marvel.

It’s a story of powerful forces trying to control access, superheroes arriving via rifts in reality, and…well, and YOU, a foot soldier struggling to survive yet another mission loop on a constantly changing island.

The narrative isn’t really needed to play the game, anymore than you need to purchase a custom character.

This isn’t Red Dead Redemption solo play where the story is the main driver of gameplay (I miss you, Dutch, delusional though you might have been!)

We’re here for the fun. We’re here to bash and shoot stuff with our friends. And we’re here for the occassional concert or DJ gig.

The narrative mainly seems to server a larger purpose: it explains why, in spite (or because of) all these secret agents and heroes and mysterious portals, a lot of content can come IN but we can never really leave.

Until, maybe, the day that you can.

The Show Bible for the Metaverse

It’s not like Epic is keeping this a secret.

In an interview with The Verge, creative creative officer Donald Mustard said that all those licensed characters were more than just an excuse to sell more skins:

“But Mustard says that it’s also a critical part of the storyline, nodding to something he and others at Epic have eagerly talked about creating — the Metaverse, comprised of characters and storylines from countless films, shows, and games all in one place.

Creating the Season 6 opener with the Russo Brothers, who know a thing or two about creating property-spanning universes, is another obvious nod in that direction.

Tim Sweeney, CEO of Epic, has been talking about Fortnite as something that transcends gaming, and has explicitly linked it to the Metaverse (the fact that one place he said this was in a court room just adds gravitas).

And so we return to the Rift Tour.

“A musical journey into magical new realities.”

Ariana Grande might not let us go there after the concert is done, but she might hint that our ability to travel between worlds is on its way.

Tools, Film Grammar and Distribution

Movies can extend their ‘film grammar’ in part by changes in technology.

James Cameron is perhaps the most famous for this: Avatar, for example, was using Mandalorian-style technologies long before music stars were filming on LED stages. With real-time compositing, Cameron was able to see his actors ON the CGI sets during filming.

More profound shifts in the grammar of storytelling occur when we shift media. From radio to screen, from silent films to ‘talkies’, from network television to cable, and from TV to taped and streamed.

The transition to virtual worlds has resulted in a similar and profound shift in the ‘grammar’ of storytelling. This shift builds off of the profound advancements in game-based storytelling and other immersive arts. And it translates it through the lens of highly concurrent experiences.

These shifts in media create a cascade: changes in media are the results of advances in technology. More advances in technology provide new tools to storytellers. The storytellers get better at their craft, which attracts wider attention from the distributers, (whether movie theatres, cable channels or Playstation).

What Happens When You Own The Full Pipeline?

But what happens when one company is the company that builds the cameras and tells the stories and has the capacity to distribute them?

You now have the perfect virtuous circle: they can test the ‘film grammar’ of the new medium, refine gameplay, figure out how to hold a virtual concert, get data on user-generated content (through its Creative mode), and find out which licensed content ‘pulls’ more than others.

By providing the Unreal tools and the Epic marketplace to other developers they can both help to guide a shared library of best practices and learn from others.

They’re not constrained to a particular film type like a movie studio would be. Because they’re the ones making the film.

Oh, and they can also distribute the experience.

Epic’s fight to get Fortnite on consoles was a genius-level achievement on par with what Steve Jobs did with the record companies for the iPod.

Launching their own app store helps to insulate them against — well, against things like Apple booting Fortnite from iOS.

A Story Built on a Road Map

And so Epic has a great deal of control over its product road map.

It knows how quickly it can develop new features for Unreal, it knows what pieces it’s missing (and can acquire some of those pieces), and it can sequence changes to its payment systems, identity and log-in and marketplaces.

Fortnite is creating a mythology of a future Metaverse. Fortnite uses all of the technology that Epic creates. Fortnite therefore can ‘attach’ its storylines to that road map.

Tim Sweeney has made it clear, for example, that Fortnite is being transitioned to UE5. Will Fortnite take advantage of the advanced rendering and realism offered by Lumen and Nanite?

Would YOU?

Maybe you’d leave Fortnite Island alone and preserve the cartoon-ish gameplay. But maybe you’d create a storyline about how certain ‘rifts’ actually lead to highly realistic worlds.

Imagine jumping through a rift in Fortnite and landing in a “Thor World” spin-off: a highly detailed and rendered version of Asgard.

Myths and Stories Make The Metaverse

My nephew really doesn’t care about the finer points of “what is the Metaverse”.

By the time the Metaverse is actually here, we won’t even need the name. We’ll just be “in” the space which is online:

But imagine a 12 year old today spending time in Fortnite. Coupled with the dense cinematic universes of Marvel and Star Wars, these are the mythologies with which they’re growing up (I’ll leave aside cultural commentary).

They’ll probably remember that they went to their first concert in Fortnite or Roblox the same way I remember seeing Supertramp. They’ll probably remember interacting with their favourite characters or the month they ran around dressed as Deadpool.

The breadcrumbs and Easter Eggs were all there. They were participating in a story about the how and why worlds existed and how they became interconnected.

And if all of those worlds interconnect in a seamless way….then they’ll have arrived in the Metaverse.

We just won’t call it that. It will just appear.

One day you’re hanging out with friends at an Ariana Grande concert and the next you’re teleporting through the ‘Rift’ to visit Batman or to kill Aliens next to a digital Sigourney Weaver.

The only thing missing are the Bored Apes.

Stories from the Ground Up

There’s another storyline. And it has nothing to do with Disney/Epic cross-licensing, Sony Music or using Unreal to recreate Mandalorian in your living room.

And it starts with the Bored Ape Yacht club:

Instead of Marvel characters and Kratos it has…well, it has bored apes:

(Maybe the only cross-over thing here is the banana skin in Fortnite. I toyed with some sort of analogy about the Bored Apes eating Fortnite for lunch).

Now, at first glance, the Bored Apes seem like edgy cartoon characters. Much like the narrative in Fortnite, they don’t seem like much more than an excuse for something else: to sell art work or t-shirts or craft beer.

In fact, they really aren’t anything more than the above images. 10,000 of them.

But there has been almost $100 million in trading value for those images.

Sure, it’s not quite the same money that Fortnite has pulled in.

And the Bored Apes don’t really exist anywhere in particular.

You can’t wear them like a skin in a virtual world. You pretty much just throw one up as your Twitter profile photo.

But scratch the surface and there’s more to it. First, you’re joining a ‘club’, a sort of fan community with its own benefits.

As the New Yorker explains:

When a buyer makes his Twitter avatar an image…it’s a sign of allegiance, and also a signal to other buyers in the club to follow him on social media. (“I changed my picture to the ape and I got hundreds of Twitter followers the first day,” Swenson said.) The center of most clubs is Discord, the real-time chat app. Bored Ape Yacht Club’s Discord server has more than thirteen thousand members…The mutual investment, both social and financial, forms a kind of bond among club members within the wider Internet bedlam.

The creators of the Bored Apes had identified an opportunity: instead of simply creating limited series artworks and selling them “We were seeing the opportunities to make something with a larger story arc”. (Emphasis added).

As the New Yorker outlines it, these types of works :

…whether of people or monkeys or ghosts…were fairly generic. Bored Ape Yacht Club, by comparison, created rich and detailed iconography drawn from its founders’ personal tastes. The setting of an Everglades “yacht club” (an ironic appellation) was meant to evoke places like Churchill’s Pub, a well-worn Miami music venue that Gargamel and Goner frequented. “We were deeply inspired by eighties hardcore, punk rock, nineties hip-hop,” Goner said…From the scenes of an apocalyptic tiki bar on its Web site to the jaunty style of the apes themselves, Bored Ape Yacht Club felt more like the plans for a triple-A video game… The combination of sophisticated visuals, subcultural fashion accessories (shades of Hot Topic), and literary pretension made the Bored Ape universe catnip to a certain crypto-bro demographic.”

And that crypto-bro demographic is important because the Bored Ape images are NFTs (non-fungible tokens).

Your ownership of one of the 10,000 apes is memorialized on the blockchain. There is one token per ape, and therefore only one person can “own” it at a time.

You can sell your NFT (your ape) off. Although be warned: the price keeps climbing. Digital scarcity has been created. You’re joining an exclusive club….and it’s a club of Bored Apes but it’s a club nonetheless.

Membership has its privileges.

But aside from digital scarcity (which frankly can have echoes of the scarcity of Beanie Babies), there’s something else that drives the success of Bored Apes.

Because by owning one, you can commercialize the asset:

(Bored Apes) was also one of the first clubs to offer individual buyers the commercial rights to the apes they own: each member is allowed to brand his own projects or products and sell them independently. In the three months since the club launched, Bored Ape owners have put the cartoon primates on lines of craft beer and created animated YouTube series, made painted replicas, and designed skateboard decks. Kyle Swenson, the clothing reseller, launched a publication called the Bored Ape Gazette, to cover the community.

The Primitives of the Metaverse

And so we start to see the other way that the story of the Metaverse unfolds.

At the level of Fortnite, a large-scale world is the backdrop for complex stories that unfold on a pre-determined schedule of chapters and seasons. The stories get bigger and bolder, the stars get bigger, the world changes…until other worlds are added, and we follow along, tracking the mythology of the Metaverse as it materializes around us.

At the level of Bored Apes, the Internet is rebuilt from the ground up with the primitives of story.

The story isn’t preassembled. Instead, the components of the show bible are created, and instead of passing a copy off to a show runner or writer, they are auctioned off.

The only thing that was created were a bunch of primitives. How people assemble these primitives is an exercise in community building, commerce, collaboration and imagination.

This idea: that NFTs represent creative primitives, is comparable to the ‘prims’ of Second Life:

In Second Life the entire world was built from the prim up.

A cube could be shaped and connected to another cube. The resulting shape could have a texture thrown on top. Suddenly, you have a chair or table or dress.

The genius of the prim, however, lay in what Philip points out above: the permission system and the “For Sale” field.

Because once you’ve used your prims to create a dress, you can now sell it. And the next person has permissions for whether they can copy, modify or transfer that dress, and more importantly, they can include it in their own personal story.

They wear the dress to a wedding, they put the chair in their virtual house, they have dinner at the table with their family (other people, represented by avatars, living an often full second life).

NFTs As Creative Prims

NFTs have a bit of a definition problem, in the same way that the word ‘Metaverse’ can elicit strong reactions.

It’s a technological affordance and a bunch of things can spin out of that affordance: from providing a trustworthy ledger for real-world art, for example, to creating speculative buying clubs for fancy JPEG art works through DAOs.

But let’s focus on the Bored Apes (which, by the way, have inspired dozens of similar storylines).

The images at the heart of Bored Apes are just little granular pieces of content. They’re not unlike prims.

They contain contracts for how they can be used. Their elements can be remixed, combined, and repurposed. They can be spun off into separate stories. They can be the basis of a new line of t-shirts or can be used like a high-signal version of the skins in Fortnite.

The promise of NFTs (and the blockchain) therefore is that we can create the primitives for large-scale storytelling.

And that the stories can travel further and reach more people. This is facilitated, first, because we can have ‘skin in the game’ (there’s a financial upside, similar to how the dress maker in Second Life can sell the creation); and second because right now you don’t need a particular skill set to change your Twitter profile in order to participate in the narrative.

The Road Map for NFTs

But just like Epic has a road map for its technology, there’s a presumed/collective road map for the Bored Apes (and similar ventures).

Namely, that eventually, we’ll move beyond remixing GIFs and JPEGs and start remixing larger and larger chunks of story.

The Bored Apes represent the ultimate unbundling of IP (think of all of those characters running around Fortnite) into its smallest components.

Eventually, those little chunks of story content will be easier to reassemble, view, display, remix and turn into story.

In the Bored Apes narrative of the future Metaverse, a demand will be created by the distributed nature of all of those little chunks of story.

As the pool of primitives grows and as more people own those primitives (whether unbundled IP from a big brand like Coke or a Bored Ape), we’ll want a place to play, to create and to share.

The owners of all of those Bored Apes and digital paintings and creative prims are going to demand a home. And the creators are going to demand better and more distributed tools to remix their primitives.

The Convergence of Story

This probably sounds like a showdown between Fortnite and the Bored Apes.

I don’t believe it is.

It might be a showdown, of sorts, between different narratives. My recent post about the Metaverse generated — well, it generated a lot of discussion.

And aside from the highly technical reasons why it’s important to ‘get granular’ about what we mean when we use the word “metaverse”, it’s an indicator that we all want a voice in our shared future.

Interconnected worlds are coming. Stories are being told about what those worlds will be, how they’ll connect, and who will own the gates, experiences, and myths.

As I was writing this post, Tim Sweeney had this to say:

And I personally believe Tim when he says that we all benefit from a Metaverse that is open (which has has said many times). That it can’t be owned by any one person.

The Primitives of Scans and 3D Content

I also believe that Fortnite isn’t the only narrative that Epic is building. Yes, it’s creating a particular mythology and storyline that leads us to a future in which worlds interconnect.

But so is Sketchfab, which Epic just purchased.

As I outlined in my post at the time, Sketchfab represents something more than just a marketplace for 3D content.

The photogrammetry that it hosts, for example, is another form of storytelling primitive. They are digital Polaroids which we’ll eventually be able to collect, place, and co-create. They also represent the blurring of the lines between physical and digital realities.

Interconnected worlds won’t just exist when you log in: they’ll exist when you walk around the very real neighborhoods on the other side of your front door.

I actually believe that the narrative for Sketchfab and the narrative for Fortnite will converge: at some point, Epic will open everything up, and you’ll be able to spin up your own island, or collect your own Sketchfab photo album, and you won’t be locked into a proprietary “Unreal/Epic” model.

Epic will still make money entertaining and creating games (and helping other developers to do the same) but they will ‘release’ the ‘kernels’ for the Metaverse itself.

This Is The Moment The Story Changed

Today, we’re seeing something that may, in the course of time, be more important than the emergence of edge networks or Lumen real-time rendering: we’re all co-creating a shared mythology of what the Metaverse will be.

The narratives have “legs”. We seem to have a hit or two on our hands.

We’re collecting the creative primitives that will be used to build it while at the same time we’re participating INSIDE a narrative about the interconnection of worlds.

And most of us are having a really, really fun time along the way.

Let’s set a date for after the Rift has occurred and the worlds started to metastasize, grow and connect.

We’ll share some stories about how we were there, back when the narrative of the Metaverse left behind the old tropes of 1990s science fiction (some of us got there sooner) and became something bigger, and more generous, and more fun.

Let’s remember back to that time we saw Ariana Grande together and it made us feel like kids again. Let’s remember how big the possibilities felt, whether we were hanging out in the virtual world of Discord at the Bored Apes Yacht Club, or were on an island dressed as a banana and we danced together.

Because really, there will be so many stories we’ll be able to tell.

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