Metaverse Research Report


Tag: Longsand元宇宙

1 What is Metaverse? The English name of Metaverse is Metaverse. This concept was first proposed by Neal Stephenson in 1992 in his science fiction novel "Avalanche". Meta refers to "total" and verse refers to "universe". Metaverse is a virtual world that is parallel to the real world and interacts with the real world. In this virtual world, there are new characters, currencies, assets, social methods and social forms, which are both independent and complementary to the real world.

The meta-universe can build a brand-new world, and the wonderful results in this new world are far beyond the real world. In this world, users can have a new identity and a new status. Realize dreams and experiences that cannot be realized in the real world, such as exploring outer space, or becoming a handsome boy brother, etc.
In the movie "Ready Player One" (Ready Player One), a virtual space similar to Metaverse is described. In the movie, people can enter the virtual world "oasis" as long as they wear a VR device. Buildings and cities, there are players, characters and superheroes from different dimensions. In the "oasis", people can socialize and compete freely, with independent social forms and economies.

2 The meta-universe is so popular long ago, many games have appeared in the prototype of the meta-universe, such as The Sims, Mycraft and so on. Roblox is considered to be a pioneering work in meta-universe games. On March 10, 2021, Roblox was listed on the New York Stock Exchange, and its market value exceeded US$40 billion on the first day. As a game creation platform, Roblox has attracted more than 7 million free game developers. The community has developed a total of more than 18 million game experiences, and the number of online users can reach up to 5.7 million.
Now, as a grand contribution, Metaverse has been widely concerned by all aspects of the world. A large number of giants began to pour into the meta universe. In June of this year, Facebook CEO Mark Zuckerberg announced an ambitious new plan to employees. The company's future will no longer be limited to the various social applications and corresponding hardware currently being developed, but will go far beyond this category. He said that Facebook will work hard to move the ultimate interconnected experience depicted in science fiction to the real world-in short, they will build a world called "meta universe".

3 The significance of metauniverse adopting blockchain technology metauniverse requires blockchain technology, or in other words, metauniverse projects that adopt blockchain technology are easier to succeed. The reason is also very simple, only blockchain technology can establish the credit of the system. Imagine that in a meta-universe, it takes a lot of time for players to accumulate wealth, assets, and even social relationships. And if all this is done by a company, it will not be able to maintain credibility. Like the plot in the movie "Out of Control Players", game developers can deliberately delete accounts through the background or even restart the game for their own benefit. These potential risks are obviously not exploited.
The blockchain technology can just establish a fair and just rule that cannot be tampered with at will. Not only that, the content created by users in Metaverse can be in the form of NFT to ensure that the ownership belongs to the user. The token economy also ensures that the economic system in the meta universe will not be inflated like traditional games.
The SandBox project wrote in the white paper that the centralization of user-generated content in mainstream games such as "Minecraft" and "Roblox" limits the rights and ownership of creators, and the centralized control of virtual commodity transactions created by players restricts players from doing things for themselves. Create fair value, restrict the content they can or cannot sell/or obtain a large portion of the sales revenue. Given the nature of voxel art, it is difficult for us to prove the creative ownership of the work, especially when the content is copied, modified and constructed. Some game markets are based on legal currency and do not support real micro-transactions. They are susceptible to credit card fraud, which leads to economic imbalances within the game. The main projects of the meta-universe. The main projects of the meta-universe of the blockchain include Decentraland, Sandbox, Cryptovoxels, and others. In addition, some NFT games are also classified as meta-universe projects, such as Axie Infinity, My Neighbor Alice, Star Atlas

4.1 Decentraland
The Decentraland project originally started in 2015 as a proof of concept using the Ethereum network. The first iteration of the proof of concept is called the "Decentraland Stone Age" by the team; it consists of a 2D pixel grid, with the owner and color of each plot encoded in metadata. Then, it developed into a 3D virtual world simulation at the end of 2016. Now Decentraland is based on Ethereum, a distributed, blockchain-driven virtual reality platform jointly owned by users, and it is also the first completely decentralized virtual world owned by users. On this platform, users can browse and discover content, and interact with other people and entities.
Decentraland has attracted active IPs, such as Binance Building, Republic, Rarible, Winklevoss Capital, CoinGecko
Similarly, there are many excellent creators in the Decentraland meta-universe, who have created various entertainment facilities for the world, such as secret rooms and virtual casinos.
The most brilliant land development in Decentraland is a virtual gallery. Encrypted artists or IP can create a virtual exhibition area by themselves. Users can enter any gallery at will, and they can jump to purchase while enjoying works. The artworks in the general exhibition area are directly connected to Opensea, etc. Trading platform links, there are also Gallery will display the introduction of encrypted artworks and the artist's social platform account. On June 4th, the well-known auction house Sotheby's opened its first virtual gallery, declaring its place in the meta universe, and the location is in Decentraland. The building is located in the prime area of Decentraland-Voltaire Art District, and is Sotheby's iconic New Bond Street gallery in London. The structure includes all five gallery spaces on the first floor, as well as a virtual portrait of Sotheby's London commissioner Hans Lomulder, ready to welcome visitors.
Mana currently has a circulating market value of 0.85 USDT and a market value of 1.52 billion US dollars. The official website has not found a token economy. From the coinmarketcap point of view, it is already in full circulation.
As the first meta-universe project, Decentraland has the advantage that it already has a lot of content and is creating creators every day. It can be seen that most of the very famous companies will enter Decentraland, and more and more famous companies may enter Decentraland in the future.
At the same time, in terms of tokens, MANA has basically been fully circulated, and Decentraland has entered the stage of Dao governance.
The downside to privacy is that the land of Decentraland is extremely expensive, not suitable for ordinary people to enter, and more like an oligarchic game, and ordinary players are just spectators at best. Coupled with the lack of a playtoearn mechanism, it is difficult for a large number of newcomers to enter.

4.2 Sandbox
Sandbox was originally a mobile game developed by its parent company Animoca Brands on Android and iOS in 2012. This application is widely used and accumulated 40 million downloads in the early days of mobile games, reaching nearly 2.6 million monthly active users during the peak period. In 2015, Sandbox games were available for download on the PC through the popular gaming platform Steam, and users created 70 million unique worlds and environments for other users to interact with. This early user-generated content experience led Animoca Brands to leap into blockchain games in 2019 and bring their flagship product "Sandbox" to the market.
Sandbox's collaboration with real-world and cryptocurrency-native IPs and brands is second to none. At the time of writing this report, the team has more than 50 IP partnerships, highlighting some of the main family names below. The parent company Animoca Brands is well-known for its portfolio, including names such as Binance, Flow, Dapper Labs, Atari and Polygon. In addition to an impressive portfolio, Animoca not only owns a large amount of real-world intellectual property rights and invests in some of the largest infrastructure in the NFT field, but is also responsible for some of the largest blockchain games to date, such as F1 Delta Time.
If Decentraland is more like the on-chain version of Minecraft, Sandbox is more like the on-chain version of Roblox. Although they are all sandboxes, just like Roblox, Sandbox focuses on creating games in the game. , Committed to making him an entertainment world.
Compared with "Minecraft" or Decentraland's "targetless exploration and experience", the purpose is much stronger. It also makes Sandbox have a tendency to surpass Decentraland and become the leader in sandboxes.
SAND use cases:
Users/players use SAND tokens to purchase assets and land in the game. Artists/creators use SAND to upload assets to the market and purchase "crystals" to define the rarity of assets. Players can hold SAND to participate in management/DAO. SAND can be used to buy shares and obtain passive income paid by SANDB, catalysts and gems. The latter two are used to create assets. Lay the foundation for stimulating the continuous growth of the Sandbox ecosystem and high-quality content creation. Charging model = 5% of the transaction fee will be evenly distributed to the foundation and staking rewards, and use SAND to purchase any items in the ecosystem.
There are a total of 166,464 (408 408) lands in The Sandbox, each of which is an ERC721 token. At present, The Sandbox has launched multiple rounds of land pre-sales and public sales, and many rounds of land are sold within an hour. Out of stock, the recent fourth round of Euphoria’s public sale of 1400 pieces of LAND was sold out within 15 seconds. The public sale sales were all over one million US dollars. Players who did not grab LAND in the pre-sale and public sale can Trading platforms such as Sandbox's Market and Opensea were bought. On June 8th, Yuchi co-founder Chun bought a 24 24 LAND at Opensea for $650,000 for the construction of a tribe of DOGE enthusiasts. From this, the price of LAND in The Sandbox reached a new high, which shows the popularity of The Sandbox. .
Token economy
SAND allocated to the Investors in Seed Sale and the Strategic Sale are 100% locked for 3 years vesting with a 12 month cliff; while SAND allocated to the Founders, Team and Advisors are 100% locked for 5 years vesting and 12-month cliff. TSB has also generated its first LAND presales successfully during December 2019 and July 2020. All LAND assigned for sale have been sold for over 6,000 ETH.
According to the inspection, on September 13, 2021, the price of SAND was $0.78, the circulating volume was 30%, and the circulating market value was 700 million US dollars. According to the introduction of the white paper, the team advisors and the financing tokens are unlocked every month. Because there is no description of other payments in the white paper. Unable to estimate, the monthly release volume.
4.3 My Neighbor Alice (ALICE)
"My Neighbor Alice" is a multiplayer creative game where anyone can buy and own virtual land, collect and build exciting items and meet new friends. Inspired by successful games such as "Animal Crossing" (Animal Crossing), the game provides an interesting plot for ordinary players who want to enjoy the game experience, as well as for those who want to collect and trade non-homogeneous tokens (NFT) The player provides the ecosystem. 元宇宙研究报告
ALICE is the native functional token of My Neighbor Alice and is used for the following functions: In-game currency: Purchase assets and special skills in the game and Alice's market. Governance: Participate in governance (including proposals and voting structures) through decentralized organizations, such as platform operation and development. Voter incentives will be introduced to encourage voter participation. Mortgage: Mortgage ALICE tokens to earn a certain percentage of platform revenue (for example, land sales, asset sales, and transaction fees). Player rewards: Players can earn ALICE tokens by completing tasks in the game. This design is designed to encourage users to participate in the game and remain attractive. My Neighbor Alice allows players to participate in the game and receive rewards through the blockchain, and distribute game assets. Decentralized ownership based on NFT assets: Decentralized ownership of assets in the game (such as islands, houses, pets, etc.). Social function: The game has a built-in chat module, allowing players to communicate with players on the same island, and transfer tokens and assets to friends in the chat. Players can visit each other's islands and complete group tasks together. Market: An in-game market that allows users to buy and sell assets. It provides more liquidity and economic incentives for game players to purchase and create in-game items. The project raised $2.2MM from two rounds of token sales, of which 21.00% of the ALICE token supply was sold at a price of $0.100/ALICE, and 0.80% of the tokens were sold at a price of $0.125/ALICE. The total supply of ALICE tokens is 100,000,000, and the current supply when Binance goes online is 17.40%. 元宇宙研究报告
On September 13, 2021, Alica's price was 11.7 USDT, with a circulating market value of 270 million US dollars. The circulation is 23%. According to the blockchain browser, 77% of Alica's tokens are in one address and there is no transfer record for a long time. The profit of Alica's early private equity is relatively high. Once the private equity is unlocked, the selling pressure on the market will be heavier.
4.4 Star Atlas
Star Atlas is a space-themed MMORPG with a science fiction background including exploration and battle. The background of the story is set in 2620. In the official setting, the universe is divided into three major factions: the MUD territory ruled by humans; the ONI area of the alien race alliance; and the Ustur region controlled by perceptual robots. The three major factions are engaged in continuous wars over resources, territories and dominance. Players are free to join one of the parties and contribute to their faction. The player's behavior will directly affect the outcome of this interstellar conflict. By making contributions in the game, players can obtain token rewards.
In Star Atlas, all in-game items are NFT assets, including ships, crews, pets, components, land, buildings, clothing, etc. Similar to most chain games, the game is designed with two tokens, ATLAS is the in-game currency, which can be used for in-game transactions and consumption. POLIS is the governance token of the game. It can be used to shape strategic elements and exert political influence in the game. It can also participate in game governance, such as setting a long-term perpetual inflation rate, imposing a Harberger tax on the value of real estate, choosing the region to be built, etc. The entire protocol assets can be divided into four categories:
1. Monetary assets (ATLAS and POLIS, equivalent to the SPL of the agreement).
2. Land ownership NFTs.
3. Items in the game (spacecraft, equipment, crew, ship parts, buildings and blueprints).
4. Resources in the game (replaceable assets produced by miners and consumed by production).
Star Atlas has two native tokens, POLIS and ATLAS.
POLIS is a governance token, the total amount is constant, and the holders have voting rights to determine the use of the protocol financial library. ATLAS is a game token, which uses an inflation model to purchase game props and provide rewards.
In addition, holding POLIS can not only participate in the governance of the entire Star Atlas agreement, but also participate in the governance of the three ethnic DAOs in the game, such as formulating their own foreign policy and so on.
The total circulation of POLIS is 360 million pieces, of which 22.5% for private placements will be unlocked in 104 weeks; 1.5% for public placements will be unlocked in 104 weeks; 2% for public placements, with no lock-up period, 1% in FTX, 0.5% in Raydium, 0.5% Apollo X liquidity pool 4%, no lock-up period, 2% in CEX, 2% in DEX. Reward 40%, unlock in 416 weeks; team 30%, unlock in 104 weeks, DAO Stake reward, unlock linearly every day. 元宇宙研究报告
The estimated circulation situation is shown in the figure below:
Before January 2024, the rapid release of tokens was mainly caused by the increase in the DAO Stake pool and the release of private placements.
After January 2024, the overall release rate of tokens will slow down.
After 9 months of launch, the circulation of tokens will exceed 100 million.
POLIS can be obtained through the following channels:
1. Primary market, direct sales by the team.
2. Purchase on the secondary market.
3. Complete specific tasks in the game.
4. Rewards for old players:
(1) Introduce new and meet the time requirement.
(2) Establish a guild.
(3) The guild or alliance will reward users based on indicators such as user participation and game duration.
5. Stake obtained in DAO.
6. Provide liquidity and obtain it as a liquidity reward.
ATLAS is a game token, inflation, can be used to buy props NFT, can also be earned in the game.
The initial circulation of ATLAS is 36 billion pieces, of which:
Private placement 22.5%, unlocked in 104 weeks; public placement pre-sale 1.5%, unlocked in 104 weeks; public placement 2%, no lock-up period, 1% in FTX, 0.5% in Raydium, 0.5% in Apollo X liquidity pool 4%, none During the lock-up period, 2% is in CEX and 2% is in DEX. Reward 65%, unlocked in 416 weeks; team 5%, unlocked in 104 weeks, DAO Stake reward, unlocked linearly every day. 元宇宙研究报告
The minting and destruction of ATLAS will be entirely based on the growth of game users and the usage of tokens. The supply and price of game tokens will be maintained at a level to maintain reasonable internal game asset pricing, optimize the entry level of new users, and allow external appreciation.
The ATLAS token issuance will follow three stages:
1. Centralization stage. The development team directly adjusts the inflation rate, using the developer's DAO vote (as described in the DAO section) to modify the multiplier of each type of in-game reward. The purpose is to lower the barriers to entry for the game.
2. Decentralized governance stage. The inflation rate is still based on modifying the reward multiplier, but the developer's voting rights are gradually cancelled, and the DAO has control.
3. Decentralization stage. The macroeconomic indicators of the game and the external token market algorithm stability model replace the centralized issuance method, and the market adjusts rewards and burns.
The specific unlocking situation of ATLAS is shown in the following figure:
This year
On September 13, 2021, ATLAS has a circulation of 2.16 billion, a price of $0.127, and a circulating market value of US$270 million. According to the white paper, as of January 2022, ATLAS has a circulation of 5 billion
On September 13, 2021, POLIS has a circulating volume of 21.6 million, a price of 9.85 dollars, and a circulating market value of 210 million US dollars. According to the white paper, as of January 2022, the circulation of POLIS is 30 million.

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