Metaverse will change the world in 2022

After Facebook has announced to change its name to "Meta" last summer, the whole world has focused on a term called "Metaverse". The word "Metaverse" has been searched in Google and Youtube every day. However, Meta is not a decentralized organization that is not a Decentralized Autonomous Organization (DAO), a Web.30 concept, and GameFi players may not like it.

Blockchain technology supports non-fungible tokens (NFT) such as investors and crypto fans accepting Crypto Punks. Another new concept, vertical lands by Sandbox, Decentral Land, Nifty Island Land, will be a popular investment vehicle soon. Sandbox "SAND" token was launched in the last quarter of 2020. The price of SAND has been raised from USD0.04 to around USD 3.4 today. Buyers use the SAND token to buy land in Sandbox. There is a total of 166,464 pieces of land, and so far, around 75% have been sold out. There is a robust demand for land in Sandbox. New lands were sold out within 2 seconds. SAND token highest record was USD6.3 per each. SAND holders will be able to participate in the platform's governance via Decentralized Autonomous Organization (DAO), where they can exercise voting rights on key decisions of the Sandbox ecosystem. 

Landowners build up their Metaverse on their lands to attract players to come in and buy NFTs. The NFTs will be traded in Market Place. The SAND can be exchanged into fiat currencies, and therefore, "Play to Earn" will be an income model. In addition, each NFT has a smart contract, and it guarantees landowners has an ongoing fee income when each NFT transaction, the landowner will be a loyal fee of 3% to 5%. Image all utility NFTs have been traded in years to generate an income model in their Metaverse.

Landowners can start their business in Sandbox virtual lands. Big names such as Adidas, Nike, The Walking Dead, the Smurfs, Snoop Dogg, Sun Hung Kai Company Ltd., Pricewaterhouse, the accountant firm all bought their lands in Sandbox. Mr Adrian Cheng, an HK famous tycoon, has built up a Mega City. Several big names and celebrities, such as Asia movie star Mr Stephen Fung and his wife Shu Qi, have started to build up their Metaverse to create a new experience with players and fans.

More than 80,000,000 SAND tokens gave to the Alpha 1 game, and they were 1,000 landowners and 3,000 players last November. They are about USD272,000,000 cash. Alpha 2 game has planned to roll out in March or April. More SAND tokens (money) will give to players.

To summarize, with blockchain support and a new financial model with Web 3.0, DAO, NFT, Metaverse and GameFi, AI, Decentralized Data Architecture will be a new wave to the market in the world. Bitcoin as digital gold, smart contract through ETH, has significantly affected the traditional financial and technology industry.

Alex Yuen

Director

Asia Digital Asset Financial Ltd.  

Image source: Shutterstock