What is Metaverse?
Metaverse is decentralized asset platform that aims to change the traditional transaction ecosystem by introducing Metaverse Smart Token and digital identities so-called Avatars that will along with value intermediaries (Oracles) build a new architecture for asset transactions.
Real World Problem
Today all personal information is stored on centralized databases makes them vulnerable to all sort of hacks or manipulation. Also, free online services always request to take the user’s private data to be used by advertisers and employees.
Metaverse will try to solve this issue using digital identities so-called Avatars and special types of Avatars called Oracles that will be used as intermediaries to authenticate digital identities by verifying certain events or facts.
With Metaverse, personal identification data has verified with the help of intermediaries(Oracles) who will write attestations to the blockchain. Attestations of an Avatar’s credentials can provide other users a high degree of confidence that a user is real and trustworthy without a need to reveal private data or to store it on the blockchain or a central database.
Only users with Avatars will be able to use, login or access any application within the Metaverse ecosystem.
Metaverse foundation will try to encourage financial institutions and government agencies and other entities to become Oracles and help in building the Metaverse network.
1. Digital Assets(Metaverse Smart Token) are trust-free, traceable and immutable decentralized smart properties that can be registered, transferred, issued, deposited, used as collateral and burnt.
2. The Avatars – Digital Identities used for the exchange of the information and assets. They connect people, companies, and the Internet of Things.
3. The Oracle – are Value Intermediary used to prove the connection between physical identities and Avatars. Oracles are also the regulatory bodies which supervise transactions on Metaverse Blockchain. Using Avatar any person will be able to become an oracle and by doing this help in building an immutable decentralized system of reputation.
4. On-chain exchange – using Built-In Smart Contract (BISC) users will be able to exchanges value in an easy way.
As of 12/6/2018, the price of Metaverse ETP (ETP) is somewhere around $0.81 USD (+1.79%) with a market capitalization of $40,090,647 USD and a daily volume of $2,490,956 USD.
- Circulating supply: 53,769,847 ETP
- Total Supply: 57,043,981 ETP
- Maximum Supply: 100.000.000 ETP
ATH price of ETP was $5.96 USD on 6/6/2017. ATH market cap was 191,141,165 USD on 24/9/2018.
Token Sale: lasted from 5 August to 5 September 2016
ICO price: 6000ETP/bitcoin, ¥0.65 CNY/ETP
Fundraising Goal: $3 Mil. USD
Raised: $2 Mil. USD
Token type: Utility
News and Updates
- This Chinese Company Is Trying To Build The World’s Leading Blockchain Platform
- Lightwallet Update
- Metaverse Mainnet Upgrade Announcement
For the latest News and Updates check Here
Metaverse team consists of 14 members most of the team members are working for a company ViewFin.
Eric Gu is a founder and CEO of Metaverse foundation and co-founder of ViewFin. He is a very experienced programmer who worked in the Ministry of Finances of Ontario in Canada for 9 years. Eric mentioned in a few interviews that he is one of the co-founders of Antshares(NEO project).
Chen HAO is a CTO at ViewFin, he holds a Bachelor’s degree in Mathematics and applied mathematics.
Michael Jiang co-founded ViewFin. He is the former employee of HuaAT, a leading big data solution provider in Shangai. He holds a Master’s degree in food science and technology at Shanghai Jiao Tong University.
For more info about the tam and advisory board check Here
– On 21 June 2017 Metaverse has announced that it will promote the development of blockchain applications in the legal contract field through strategic investment in Agrelo. Agrelo will help Metaverse to develop the digital identities.
– On October 2017, the DraperDragon Innovation Fund announced a partnership with Metaverse Foundation with a goal of founding a digital asset investment fund.
– On 8 November 2017 Metaverse made the partnership with AION to explore the way to transact native digital assets between these blockchains and to try to increase the quality of Oracles by connected them across these two networks.
– On 4 January 2018 Baofeng Bokocloud and Metaverse announced a strategic partnership. They will help each other in researching and developing the Blockchain Consensus Network(BCN) and Blockchain-as-a-Service architecture.
– On 18 April 2018 Metaverse and WAC have established a strategic partnership. Metaverse will support WAC with an efficient and convenient digital identity and value ecosystem to facilitate WAC’s application in traceability and e-commerce fields.
– On 7 May 2018, Metaverse has announced a partnership with Zhejiang University to Co-establish the Blockchain Technology Laboratory.
– On 13 June 2018, Metaverse has announced a partnership with ParcelX, the international e-commerce website that will tokenize their goods. ParcelX users will be able to follow the whole delivery process on the Metaverse Blockchain.
– On 13 Jun 2018, Luxchain incorporates technology from Metaverse by using Digital Identities, Digital Assets, and Oracles with a goal to tokenize each luxury good and to give digital identities to buyers and retailers.
– On 6 Jul 2018, Metaverse partnered with Trade.io. These companies will work closing on the listing of promising Metaverse projects on the Trade.io exchange.
– On 13 August 2018 Lexit and Metaverse made a partnership to tokenize intellectual property. Metaverse public blockchain will provide Lexit a safe and secure environment
- Telegram: 4016 members
- Twitter: 14.9K followers
- Facebook: 11,500 followers
Main Metaverse competitors are Civic, NEO and Chainlink.
Civic is a project that has a goal to secure people identities by using blockchain technology.
Chainlink is a project that wants to connect smart contracts with real-world data by making decentralized oracle network.
NEO is an open network that aims to make a new ‘smart economy’ combining Digital Assets, Digital Identities, and smart contracts.
This project has an innovative idea to make a platform which will allow applications to be run on the second layer instead directly on blockchain which is the case with all other platforms in the space.
These are some of the examples of platforms built on Metaverse Blockchain: ZenGold and ZenDao.
Metaverse has a lot of partnership made with solid blockchain projects such as AION and Agrelo. They have a team with good backgrounds and a lot of contacts in the crypto space, but we will wait to see if they can attract some of the financial and government institutions to become Oracles and help them in building a network.
By Nikola Radojkovic
Nikola is a cryptocurrency enthusiast, writer and researcher. He has been actively involved in cryptocurrency since 2013, primarily as investor and researcher. He’s been worked as news editor at rs.cointelegraph.com for over a year; as a ghostwriter, he wrote a plethora of well-researched articles on ICOs/STOs for his clients. He helped his clients grasp the full potential of Blockchain technology, and help them raise funds for their startups.