A Virtual Real Estate Company To Help You Buy a Virtual House
Even if one lives in the fanciest imaginable district of a city, the sight of real estate signs becomes a sore to the eyes. With the emergence of metaverse projects and especially NFTs, it was only a matter of time before the first digital real estate agency came to be. While agents are competing against each other in real life, this one agency aims to reap the benefits of their virtual presence.
So we present to you the very first ever digital virtual real estate agency which is called Republic Realm. It's a private investment platform that exclusively invests in property that's located in the virtual world. And just in case you think this idea is totally bananas, we should like to point out that the affiliate, OpenDeal Inc, just received a cash injection of a whopping $36 million from Galaxy Digital. This is part of a major crypto investment which is helping to propel the whole digital real estate marketplace upwards and outwards further into the public eye.
Over the last few months there has been an increased interest in all aspects of virtual real estate. Republic Realm put this down to a number of factors that have simultaneously collided. These include the increasing acceptance of emerging technologies such as virtual reality, along with changes within blockchain technology, such as the allowing of smart contracts and minting of NFTs. And finally, we should mention the fact that the pandemic has led to many people having much more time to spend online.
“A lot of these trends are converging now and COVID-19 has really accelerated their growth,” TJ Kawamura, who's the head of product for Republic’s real estate arm. “I think people are trying to find new ways to engage and create community. It’s not just for the nerds anymore,” he joked.
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The last 3-years Kawamura has been keeping an eye on all virtual metaverses that have been springing up right, left and centre. In launching the fund, he decided to focus on the management and development of virtual lands, as well as their acquisition on such metaverse platforms as Sandbox, Axie Infinity and Decentraland. Investments are converted into NFTs or Non Fungible Tokens. Potentially these are blockchain assets that can be used to prove both ownership and scarcity of a digital asset. Unless you've been living under a rock, you'll be fully aware that NFTs have been embraced by art, music, fashion and gaming communities.The land parcels that Republic Realm buys on these virtual worlds are valued according to their location, size and previous sales price.
“This whole craze with NFTs has really pushed it to the next level,” he said. Kawamura suggests a direct correlation between the growing awareness and popularity of blockchain, especially the ethereum blockchain that has led to a boom in both NFTs and now virtual real estate. As he points out, “Decentraland is one of the biggest worlds. About three years ago you could buy a parcel for $550 USD. Now, it’s trading at about $8,000 USD.”
He also points to a metaverse called The Sandbox and says there has been a similar trend there. “A parcel was trading for $30 USD four months ago and now it’s trading at $880 USD,” he said. “So the space is really blowing up.”
Of course, the question on many people's lips is what can you do with this virtual that and what is driving its increasing price? Republic Realm and its investors see a huge potential for profits. Once land is purchased, then it can be used for any number of purposes including storefronts for selling merchandise, advertising space, virtual art galleries and more. Right now there are even virtual casinos situated on metaverses that pay real people to staff their games. Sotheby's has opened a virtual art gallery. As Kawamura says, “There’s a lot of opportunities for brands to come in and access these new spaces in new and creative ways,”
With traditional real estate being so costly and also requiring long-term upkeep, it makes sense for new investors to buy digital real estate. Not only is this more affordable, but it's more sustainable and allows the owner of virtual land an accessible entry point into the whole metaverse. “It’s much more difficult if you want to build the house of your dreams in the real world,” Kawamura said. “You can get onto this in a matter of minutes and it doesn’t require you to be a graphic designer.”
To give you an idea as to how the digital real estate market is really taking off, just a few months ago the contemporary artist Krista Kim, who describes himself as a "Techism artist," designed a digital home which was called Mars House. It was put up for sale on the virtual trading platform SuperRare as an NFT, and within hours sold for 288 Ether, which is $514,557.79. So what did the buyer get for that money? A set of 3D digital plans so they can upload their own metaverse house. The sale also comes with an exclusive soundtrack from Jeff Schroeder of The Smashing Pumpkins.
Right now you can find real estate brokers such as Shane Dulgeroff, who's selling physical properties with an NFT attached to Open Sea. Separately, just last month a plot in Paris sold for over $3,500 having been purchased for less than $100 on the new metaverse platform, Next Earth.
“You now have people from the traditional real estate market coming in and saying ‘how can I take what I know from the real world into the virtual world?,’” Kawamura said. The Republic Realm is presently only open to accredited investors. Kawamura believes the virtual real estate industry is rapidly heading towards a new peak. As he says, “It’s the beginning of the virtual Renaissance.”
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The idea of metaverses has been around for a couple of years now, but the notion blew up thanks to Facebook CEO Mark Zuckerberg. Millions of people have been introduced to the idea of a massive, all-encompassing virtual world; let's discuss it in detail.
The word metaverse is a combination of two words; “meta” and “verse.” The former means transcending whilst the latter refers to the universe. You can picture a metaverse as being several 3D Worlds. There will be digital versions of people called avatars who are able to interact and instantly move from one location to another. This is often being dubbed as the future of the internet, and many companies are looking into the possibilities of this new platform providing both business and entertainment possibilities.
With the more recent introduction of NFTs, suddenly ownership has a clearer path, thanks to the fact that they can be minted on the blockchain for public openness. And within the NFT itself, contacts and instructions can be written, meaning that future actions can be pre-defined. This allows for a new methodology when it comes to how ownership of assets is divided.
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The Features of the Metaverse
There are a number of common characteristics which most people agree are unnecessary for the creation of a metaverse. Let’s have a look at them:
It’s Persistent
Just as in the real-world, any experience on the metaverse does not end, reset or pause. So when the user logs out, it’s not as if the metaverse stops. It continues to both exist and function.
The Metaverse is Always Live
Following on from the above, all activity within the metaverse will be experienced in real time. This means that any information, content or experience will be accessible at any given time. And continuously remain available even if the user logs out.
Can Host a Huge Audience
It’s a very important consideration in that the metaverse is able to bring millions of users together from any location in the real physical world. Not only that, but the metaverse experience can be shared simultaneously.
Being Interoperable
This means that all digital information can be shared across many different virtual platforms. In the same way you can also be translated to the physical world. An example might be that a customer can purchase an item of clothing for their avatar and then use this across different multiverse platforms.
Allowing Customization
An example of this would be that a user could make changes to their avatar or identity to reflect their current emotion or personality. Content for the metaverse needs to be created by independent production developers as opposed to a single entity controlling everything.
There’s a Sustainable and Functioning Economy
Utility is absolutely essential if a metaverse is to function as its own sustainable economy. This means that the selling and purchasing of services and digital goods can be carried out seamlessly by users from anywhere in the world.
A Combination of the Virtual and Physical World
In the same way that a user can buy something on the metaverse, and then have the real item shipped to the real-world home address, it’s important that there is this seamless connection between the virtual and physical world.
The Capabilities of the Metaverse
One of the major ideas behind the metaverse is that it can provide users with a gateway in order for them to experience real-time activities, but in a virtual environment. Below we’ve listed a number of activities that a user can expect to find when they enter a metaverse platform.
A Social Interaction Platform
In some ways it’s easy to see why Facebook is interested in creating its own metaverse. One of the main factors is the ability to communicate with family, friends or business associates within the metaverse platform itself. Not just using video calls, but also being able to attend and host online events, no matter where in the world they are taking place.
Shopping
The metaverse should allow users to shop for both physical and virtual goods. By utilizing AVR devices and other shopping related software, the user is able to try on clothing and accessories, or test appliances and gadgets before purchase
Business
Today employees and their bosses are able to communicate with each other using apps such as Zoom and Google Meet. The metaverse hopes to introduce a new 3D level of interactivity between uses. On the metaverse the business possibilities are pretty much endless. For a start you can build anything you want. Sell advertising space, virtual goods, property and whatever else takes your fancy. By making use of Ethereum’s NFTs, smart contracts can be written and then placed on the immutable blockchain.
Entertainment
For the online gaming community, the metaverse should offer a more immersive experience. This will increase the level of engagement. Media companies will be able to use metaverse platforms to host music festivals, sports events and movie premieres. And all for an unlimited number of onlookers. The metaverse also allows users the possibility of travelling anywhere in the world whilst still seated on their sofa at home.
The Need For Technology For Metaverse Access
At the beginning of the 21st century we are on the cusp of having the technology which will allow us to make the whole metaverse platform an even better experience. Very soon, 5G technology will roll out. And with this ability to move so much more data at even greater speeds, the metaverse becomes even closer to reality.
Below we’ve listed some of the technologies that we imagine will be needed to create a seamless and immersive metaverse experience:
VR (Virtual Reality), AR (Augmented Reality), or MR (Mixed Reality) tools.
Stronger internet connections to continuously stream real-time content and applications.
Cryptocurrency wallets for blockchain transactions across these virtual worlds
Instantaneous protocols and program languages that will support the metaverse systems.
Database management applications to manage the sheer number of users.
Where Can You Experience the Metaverse?
This last year has seen a huge number of metaverse projects coming to fruition. And some of these are based around apps and others are based around gaming. So far, none of these have reached the level of the perfect metaverse as you may have seen in the Steven Spielberg movie, “Ready Player One.” But we are slowly getting there.
Fortnite
This is a Battle Royale type game from Epic Games. It’s a free to play multiplayer online game (MMO) with 100 players beginning each game of combat until just one survives. The first thing you need to do is sign up to Epic Games and then create your profile. After which you’ll be able to design your own avatar. There’s a selection of free items for you to help customise your avatar. But you can also purchase clothing, weapons and accessories.
A fun but totally left-field feature that makes Fortnite such a fun experience is that the avatars can perform dance moves. These dances have quickly become internet memes in themselves and have been performed by large pop groups and on popular television shows. The game itself launched in 2017 and has since undergone several updates. These have helped to improve the gameplay and enhance the player experience. Because Epic Games would like to accelerate Fortnite towards a metaverse platform, we have seen some famous pop stars such as Ariana Grande and Travis Scott performing virtual in-game concerts.
The Sandbox
This is a community driven platform that allows its users to build and monetize their gaming experience. The virtual world on which the Sandbox is built is divided into 166,464 LANDS. These LANDS can be combined to make ESTATES and then these can make even bigger DISTRICTS. There are three main components to the Sandbox: marketplace, Vox Edit and the game itself. Thanks to the use of NFTs, along with having the whole platform based on the Ethereum blockchain means that ownership of assets is secure. The metaverse also has its own token, called SAND. This can be used for in-game purchases as well as for acquiring LAND. looking at the Sandbox roadmap, we can see that they plan to implement DAO by 2023. Though the platform has attracted many renown partners, there’s no game available by which the platform can be properly analyzed. Presently there are no plans to implement VR technology.
Decentraland
Another platform running on the Ethereum blockchain, decentraland allows users to purchase and then develop virtual properties into virtual businesses. There are a total of 90,000 parcels of virtual land called LANDs. Technically each one is 33 feet by 33 feet in size, as a limit to building, but you can build as high as you like. Using your LAND you can add applications and create digital environments. These can then be monetized. Once again, they have a token, MANA, an ERC-20 token, and this is used throughout the platform for any commercial transactions. Probably the biggest complaint about the platform is the extremely high gas fees up to $60, which make trading things like wearable ridiculously expensive. Right now Decentraland feels like a place for tourists to take a stroll around.
Next Earth
One of the newest additions to the whole metaverse genre is Next Earth. After their launch and original virtual land sale in August 2021, they managed to move around $2 million in sales. All virtual earth sales are based on the minting of NFTs to define ownership on the Ethereum blockchain. Soon they will introduce their own token which will allow for staking among other things. Recently they opened their marketplace and saw one property that was purchased for less than $100 go to a buyer for over $3,500. Next Earth is taking a different approach to the whole metaverse monetization by not relying on gaming to be their main driving force. They want to start with users creating actual businesses on their land tiles. With the help of NFT smart contacts, they see the practical development of a virtual world, as one that grows from virtual real estate into a thriving persistent economy.
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Donating to environmental charity organizations has always been dominated by large foundations and corporations. Well, that’s about to change thanks to online crowdfunding solutions. May it be a platform specifically with crowdfunding goals in mind or smaller groups and sites pouring a percentage of their spending or income into charity pools, the result is the same: Earth wins.
There’s a new metaverse project that’s donating to environmental initiatives — and it’s powered entirely by blockchain technology. Next Earth is an NFT-based replica of Earth that allows individuals to buy digital parcels of land.
Here’s how it works: Every time a virtual land purchase is made, 10% of the purchase price is pre-allocated for donations. In September, Next Earth sold over $640,000 of virtual real estate, which means that $64,260 will be donated to environmental causes.
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Next Earth DAO Beneficiaries
The four organizations that will benefit from this donation are The Ocean Cleanup, SEE Turtles, Kiss the Ground, and Amazon Watch. A DAO, or Decentralized Autonomous Organization, was used to take votes from the community on how to allocate the funds across these four entities.
The Ocean Cleanup won the most votes, receiving around 86 BNB, with SEE Turtles receiving 35 BNB, and the remaining 51 BNB being nearly equally split between Kiss the Ground and Amazon Watch.
The Ocean Cleanup is a non-profit organization working to develop a cleanup system capable of removing plastic from the world’s oceans and rivers. As part of their effort, they’ve developed a robust research and development program focused on developing innovative technologies for plastic removal.
SEE Turtles works to help save sea turtles through conservation tours, supporting important nesting beaches, working to end demand for turtle shells, helping clean up plastic waste, and more.
Kiss the Ground is a non-profit raising awareness around the importance of soil and regeneration. They’ve released a full-length documentary, with the same name, narrated by Woody Harrelson, on the topic of regenerative agriculture.
Finally, Amazon Watch works to protect the rainforest and its inhabitants. They’ve been at the forefront of the fight against destructive projects in the Amazon.
Why a DAO?
The Next Earth project is a great example of how blockchain technology can be used for good. By allocating 10% of each virtual land purchase to environmental causes, this project is helping to make the world a better place — and it’s doing so by leveraging blockchain technology in novel ways that traditional charities can only dream of.
NFTs and DAOs are enabling new models for charity fundraising that go far beyond just writing a check. By using blockchain technology, we can now create new forms of participation where individuals don’t just give money — they also get a say in how it’s spent.
This is an exciting time to be involved in charitable giving because we’re starting to see new ways of doing good emerge right before our eyes — and they’re all powered by blockchain technology.
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If you have done your due diligence in reading about your crypto investments, you must have come across the word "tokenomics." Let's not overcomplicate things just yet, the origin of the word is quite simple: "token" plus "economics." On a very basic level, tokenomics takes the economizing functions and the utility of a given token into consideration, but that's just the surface. Let's look into it in detail.
One could compare this with “monetary policy.” With the use of fiat money being so ubiquitous in all of life’s transactions, then it tends to fall under the control of institutions and governments. For example, Central banks are the sole institutions with the right to issue currency to the public. But the gradual introduction of cryptocurrencies is gradually changing, not only the way that traditional fiat currencies enjoy their hold over economies, but also ideas central to the creation and storage of currency and assets. Thanks to blockchain technologies coming to the fore in so many different aspects of our financial lives, individuals now have a greater choice in their monetary options. So you can view Tokenomics as a reflection of cryptocurrencies in the same manner that monetary policy is a reflection of ongoing fiat financial policy. With Tokenomics,we are taking Central Bank functionality, and turning it on it’s head in order to apply it to blockchain networks.
What Is A Token?
Though we’re going to be looking at tokens in relation to cryptocurrencies, we should point out that the idea of using tokens as a form of market economy is not new. The Harvard psychologist B.F. Skinner propounded the idea back in 1972. Simply put, he believed that by giving tokens a recognizable value, they could be used as a form of incentivization towards positive actions. For their use within the sphere of cryptocurrencies, Tokens really had to wait until the Ethereum network came along. That’s because this network can offer so much more than just acting as a ledger for transactions. On the Ethereum blockchain tokens are required, and these are known as ERC-20 tokens.
Leading on from this, we can see that there are two types of token. The first is Layer 1; which is a token native to its own blockchain. An example would be Ether (ETH) or BNB for the Binance chain. The Layer 2 tokens are used for decentralized applications within a fixed network. Then we can break tokens down by their functionality. This gives us security tokens and utility tokens.
The Security token serves as an investment contract. Essentially, these tokens must entail some sort of monetary investment. There’s a verification process called the Howey Test. Without going into too much detail, once the Howey Test has been passed, then the token is considered to be a financial security token. Contrast this with the utility token. This exists to ensure the financing of a network. It’s often given out via an initial DEX offering (IDO) in order to raise funds for network or platform development.
So what's the difference between a token and a coin within the world of crypto? Well, for a start, they are both decentralized, meaning that there's no need for third party regulation. They also both have value, and can both be bought or sold. One of the biggest differences is that coins can be used on their own independent blockchain. By design, a coin can only represent monetary value. But a token, on the other hand, can be used for running other services on the blockchain.
And finally, the categories of tokens can be separated into either fungible or non-fungible. A fungible token maintains the same value and so can be forever replicated. For example, one Ether is equal to another Ether, and by replacing one with another, nothing would change. Non-fungible tokens, better known today as NFTs, are each unique. That’s why we hear so much about NFT artwork, collectibles and virtual real estate. Their very uniqueness means that they cannot be duplicated. Their uniqueness can make them much more valuable than fungible tokens.
An Example: The Next Earth Token
In order to delve into the practical uses of a token, let's have a look at a new metaverse platform, where a token will be released in just a couple of weeks. Next Earth is a virtual metaverse platform which is growing into a virtual business platform. They have already achieved great success through their first virtual land sale. Looking through their white paper, we can see a road map ahead that includes introducing a Next Earth Token, as well as staking and token burning.
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We can also see that Next Earth will have their IDO very soon. For this they will sell their tokens to existing land owners as opposed to retail investors. But there will need to be some form of vesting so that not all the tokens flood onto the marketplace at once, thereby driving the price down. It’s important that Next Earth ensures that the market in their tokens doesn’t become unbalanced. There would be drastic token inflation if there were too many tokens in the supply, with the pressure on the price driving it downwards. Deflation occurs when there’s a scarcity, leading to a price increase.
Next Earth plans to implement token burning. This acts as a means of maintaining and regulating the token’s marketplace value. Though it sounds rather dramatic, nothing is physically burned. Essentially, the tokens are sent to an address that’s totally unknown. Finally, we should touch on staking tokens. This refers to the locking down of a specific number of tokens for a specific period of time. This can give the stake holder a passive income or some other type of reward from the network. One thing to keep in mind is that staked tokens cannot be moved until their staking period is complete. As you can imagine, if a large number of tokens are staked all at once, this can have a serious effect on the token’s price.
Implementing DeFi And DAO
When dealing with tokenomics, we should probably talk a little about “governance.” As with all crypto projects, the Next Earth has a core team of devs overseeing everything. As such, they devise the rules as to how their tokens are created, as well as how they move within the network itself. Next Earth is one of the only metaverse virtual world-building platforms to implement real DeFi solutions. Coupled with DAO, it means that the team takes an absolute “hand’s off” approach. As such, they play no active role in how the marketplace functions or how the network runs. Now it’s up and running, their job is to simply maintain the network, and follow where it’s going, thanks to the steering consensus of the ecosystem’s own users.
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One might see enormous green and red numbers on the crypto market within 24 hours, but generally speaking, there is a slow and steady increase. With its expanse, blockchain technology spawned numerous concepts with wide range of use cases. Let's take a look at one of the most fruitful ones, "non fungible tokens" or NFTs.
NFTs are separated from each other due to having their own metadata and individual identification codes. Unlike regular cryptocurrencies, they cannot be exchanged or traded at equivalency. A good example for comparison would be a ticket to a movie theater. When you purchase it you are buying a specific seat, at a specific time, and in a specific place.To that end, no one else will have the right to that seat but you.
Conversely, cryptocurrencies such as Bitcoin and Ethereum work differently, in that you can purchase, sell or hold these digital coins and experience no equivalency issues. That’s why NFTs are a fantastic method to represent physical assets like artwork or real estate in a digital manner on the blockchain.
In the same way that many cryptocurrencies have removed intermediaries within the payment processing industry by simply connecting the buyer directly with the seller, then NFTs aim to do the same. Probably the largest beneficiaries of the whole NFT uptake have been artists, who are now, for the first time, able to directly benefit from the sales of their art. Both today, and thanks to smart contracts, well into the future.
Thanks to Mike Winklemann, an artist better known as “Beeple,” selling a painting for $69 million dollars, works of digital art have exploded, and are now at the forefront of all NFT minting. The idea that you can claim ownership by having it written on the immutable blockchain, has caused a massive uptake in the use of NFTs for all types of digital art. Though let’s not forget that there are many other uses and businesses, where NFTs are making their mark.
Advertising
As technology evolves, it means the brands also need to embrace those changes otherwise it’s all too easy to fall between the cracks. And within a short space of time be forgotten or become irrelevant. NFTs are helping brands to stay ahead of their game. One of the most popular NFTs marketplaces at the present time comes from the National Basketball Association in the US. In a clever marketing strategy, which essentially echoes that of the old past time of collecting baseball cards, the NBA is now selling important video clips of games as “NBA Top Shots.” By purchasing a short clip, you then become the owner and your ownership is minted on the block chain. Although this may sound absolutely bonkers, you have to bear in mind that collectors just want to collect. And like all collectors, they see this as an investment. And they are hoping for a buyer who will pay more in the future.
The billionaire investor owner of The Mavericks, Mark Cuban, thinks that if you can package NBA ”moments” and sell them as NFTs, then the marketplace is open for everything. The important factor is to try and identify a market in the same way that NBA Top Shots managed to do. Presently we’re waiting for other major sporting brands to follow in the NBA’s footsteps. As such, this would lead to a revolution in the world of advertising.
Virtual Real Estate
Virtual real estate based on virtual world maps is presently taking the world by storm. Whether it’s Decentraland developing their Genesis City or Next Earth, selling earth tiles as a means of kick-starting even greater goals, these projects and many more are fueling a property-based marketplace. The general idea is to combine virtual land with business development. And all seen through the eyes of AR or VR. A recent report stated that they can see the virtual reality property market as being worth around $571 billion within the next 5 years. They also predict a compound annual growth rate of 63% during that period.
Many metaverses come with huge plans to expand their virtual land environments to include such things as hotels, casinos, resorts, concert halls and, in many case’s, will also incorporate some sort of gaming experience. The metaverse created by Next Earth appears to be one step ahead of the game as once you purchase a land plot, it‘s automatically minted as an NFT on the Binance Smart Chain Network. Following on their heels is Decentraland, who are working out how to allow users to import NFTs from other blockchains. In fact, it’s this cross platform use of NFTs between different blockchains that will open up the world of commerce by giving it a completely new perspective on ownership.
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Commercial Art
Right now the commercial art market, driven by collectors, seems to be having a complete meltdown over NFTs and the potential for investment returns. In many ways, this is well overdue, as so many digital artists have slaved, producing original pieces, for which they see either no recognition or financial gain. These artist’s NFTs are a complete game changer. For the first time they are able to digitally stamp their signature of originality on a completed artwork, and have that fact of ownership listed forever on the blockchain. What’s more, NFTs can be programmed so that they contain what are known as “smart contracts.” This means that every time a piece of art is sold in the future, the original artist will receive a percentage of the purchase price.
An interesting fact, that may be a portent to the future, was how the traditional bricks and mortar auction house, Sotheby’s, decided to purchase a plot and open a virtual art gallery in the Voltaire Art District of the metaverse platform Decentraland. You can stroll inside the gallery and look at NFT art on the virtual walls. This combination of a traditional business, along with digital art, certainly has the art world raising its collective eyebrows. Just last February, collectors spent over $60 million buying jpeg’s, gifs, and other collectible digital art forms as NFTs. In truth, no one knows quite how this art market madness will play out. Next Earth will soon join the fray by allowing digital pixel art to be created using their sea tiles and minted as NFTs.
With traditional art, the best investment advice is always to buy what gives you pleasure. As there’s no guarantee you can find another buyer to pay a higher price, so you may well be stuck with the piece hanging on your wall forever.
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While the notion of "home office" increasingly spread among modern workplaces in the past couple of years, the coronavirus pandemic gave it the necessary push to make it mainstream. Employers finally came to realize that their employees are trustworthy, responsible adults, who will finish their tasks first and only watch videos of cute cats afterwards. However, the advancements of cloud technology and internet speed only solved one part of the equation. Turns out, the lack of social bonds between colleagues (and people in general) can ruin even the best of developments. We must not forget the importance of mental health and workplace relationships.
Here at Next Earth we are in the early stages of building a metaverse platform. Part and parcel of this will be the facility for users to construct their own environments in a virtual setting. At some point we can envisage users creating different neighborhoods including many business hubs. This will be an interconnected environment where its users can socialize and work together, as well as collaborate on work and recreational projects.
The Cons of Working Remotely
On paper the idea of working remotely sounds like a no-brainer. But in practice, and due to the lack of physical proximity, there’s always going to be a silent space between coworkers. This can cause any number of difficulties in clear communication. And this can, in turn, result in less than optimal relationships. Many employees may also feel that there is a reduction in creativity as well. Then there’s the feeling that their work is going unnoticed. Of course, it’s going to be difficult to build cohesive work teams, as well as a corporate culture, unless there is the possibility of closer contact between everyone. We think that the metaverse can help to counteract these problems.
What is the Metaverse?
Imagine a virtual world which houses all sorts of businesses, services and entertainment along a busy street. You can take a stroll to the video streaming site of your choice and watch a movie with your friends. Afterwards you can head over to your social media platform and spend half an hour talking about the movie you’ve just seen. There are coffee shops to visit and it’s all virtual. Maybe you don’t even stroll, but simple teleport. Welcome to the metaverse. You can look at the metaverse as a virtual environment that is so interconnected that the user, presenting themselves as an avatar, can interact with every part of the virtual environment. Today you can see great examples of this if you head over to Roblox or VRChat. But keep in mind, both of these platforms are really exclusively for recreational purposes.
At Next Earth we believe in creating themes much more diverse than just for playing games. It’s true that many other metaverses have built themselves around recreational gaming, but we feel very strongly that the future lies in commerce and creating a real functional economy. After all, a virtual office contains so many more possibilities than a real one. The only thing that can hold someone back is simply a lack of imagination. So rather than today’s lifeless email as the main form of communication, or even video chat, how much better it would be to take a stroll down the street to their office, and have a chat over a virtual coffee. In the metaverse you could feasibly transport your whole office to another part of the globe, as well as being able to teleport yourself and your employees to any location of your choice.
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Things to Watch Out For
Thanks to the continuously evolving blockchain, it’s perfectly feasible to run a complete business on a metaverse platform. That’s because, by using blockchain technology, you will be able to create a safe and secure network allowing you to collaborate and share documents, track tasks, manage relationships with customers and employees, and look after your order book. Technology will seamlessly record everything on the blockchain and by using NFTs and their built-in smart contracts, you will be able to set up sales and business relationships as never before experienced in the business world. With the right technology, your metaverse office experience will be accessible, efficient and enjoyable. We look forward to streamlining in the way we presently communicate. Finally we should mention that training will take on a completely new complexion when viewed through the lens of the metaverse.
One of the problems with present-day metaverses is the fact that many of them only have access to their virtual environments by wearing a VR headset. These are relatively expensive and also quite clunky to use. Many users report getting dizzy or motion sickness, simply because they cannot have one eye on the physical world when they are in the virtual one. Next Earth we would like to develop a metaverse where a VR headset is superfluous. We want you to enjoy exactly the same level of immersion and ease of use, without such paraphernalia. Another thing we have no choice but to wait for is 5G. With increased internet speeds and bandwidth, metaverse projects can really start to shine and reach their full potential.
Step Into The Metaverse, Step Into The Future
With over a year’s experience of the increasingly popular use of having employees work remotely, we are now beginning to see flaws appearing in this methodology. What once seemed like a panacea to do away with the long boring daily commute, along with all those hours spent in a cubicle, has been shown to have some serious downsides. We believe that our Next Earth metaverse will provide the necessary elements to ensure that those who are working remotely can be both productive and healthy at the same time.
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In the world of crypto, the term DAO is very much de rigueur, and something we hear a lot about. But how many of you know what the letters stand for and what they mean? Well, DAO stands for Decentralized Autonomous Organization. You can think of it as a company or organization that is operated by computer code as opposed to people. The lofty idea behind it is to create the means for companies to be organized in a much less hierarchical structure. Today’s investors have become enamored with the idea that using DAO to steer a company appears to offer much better governance. The thinking is that, by allowing DAO to take the company reins, there’s less possibility of personal interaction and unforeseen issues that can come from a designated leader.
Thanks to Bitcoin, we can see that there’s no need for a middleman when it comes to online payments. This has led to the thinking that perhaps it’s possible to do away with the middleman in companies by simply replacing them with technology. In turn, this led many to question whether an entire company or organization could function without a CEO or a central leader? Many of today’s companies have directors who make unilateral decisions that can affect the company’s well-being, as well as the company’s investors. By implementing a DAO sort of decision making process, maybe this could become a possibility. It would give stakeholders i.e. the real investors of a company, a direct line of control over how the company should be operated.
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You’ll find that the idea of DAO is tied together at the waist with the cryptocurrency Ethereum. This is the second most popular crypto after Bitcoin. DAO is considered one of the best lofty ideas to come from Etherium. But what might seem like a utopia in theory, may all come unstuck in real-world situations. It’s quite possible that, though the principal idea is sound, it still requires wise decision making. Unfortunately this is not a common quality. In simplistic terms, you can look at DAO as a hard-coded set of rules to drive a company. They are based on Ethereum Smart Contracts, which allow them, when certain conditions are met, to carry out certain tasks. The great thing about Smart Contracts is that they can be automatically programmed to execute typical company tasks. For example, these can include such things as how profits are distributed among investors and shareholders. The stakeholders themselves are able to vote if they wish to, for example, change the rules, welcome new members or add new rules. One of the general foundation principles of DAO is that there is a required threshold of number of votes for any change to take place.
A functional DAO relies on a number of essential principals. The first of these is transparency. All coding used should be open-source allowing everyone to examine it. Being on the Blockchain, it allows anyone to look through the history and see how decisions came about. This leads to completely open access which means that anybody could hold DAO tokens or buy them. These tokens grant decision-making powers within the DAO structure. There can be no hierarchical management structure, as it’s the stakeholders who make all the decisions affecting the company or business in question. At the heart of DAO is democracy, and the belief that democratic principles offer the best solutions to today’s business problems.
In 2016, the very first DAO experiment took place. It was called, surprise, surprise, “The DAO.” Thanks to a technical vulnerability, it ended up being a $50 million failure in only a few months. Nevertheless, this project is still held up as an example of the possibilities of the DAO and it’s technology. In the original plan, depending on how much each investor had invested, then they would be granted tokens, which they could then use to vote on projects to fund. Now, to select which projects they should invest in, they decided to rely on the idea of the “wisdom of crowds.” In other words, that decisions made by a larger group will lead to better outcomes than if just an individual, or maybe multiple directors, made the same decisions. As such the principles and ideas were sound.
In what sounds like a weird economic experiment with Socialism, if the investor’s projects produced profits, then those would be redistributed to the investors. So why did this lofty DAO project fail? Well, it all comes down to the fact that an” unstoppable code” can always flag up a security problem at any point down the road. And that’s exactly what happened. A piece of sloppy coding allowed someone with mal-intent to steal all the funds that were locked in the organization itself. In fact, the poor outside observers, including the investors, were able to watch the exploiter slowly drain all the DAO funds. But because of the nature of DAO in itself, there is nothing anyone could do. For all intents and purposes, the hacker was simply following the DAO rules.
At the end of the day, the lead dev’s and coders from Etherium reversed the transaction history and allowed funds to be returned to their owners. This was a massively controversial decision and ended up leading to a serious break in the community. As to the best way to handle such a situation, it’s still up in the air, and there’s no general consensus. Because storing data on the Blockchain is immutable, it means that it’s very difficult to change any DAO rules once they’ve been deployed. The very framework that is used to prevent a bad actor from altering essential features in an organization, without the general consent from the community, also leaves the organization open to problems. Simply put, there were a huge number of gaps in the DAO Ethereum framework that are not so easy to close.
But that was then, and this is now. In both the world of DAO and crypto, as well as technology, five years is a long time. Today you’ll find many organizations including MakerDAO, Colony and Aragon are picking up the pieces and learning from this first experiment. Today’s DAO projects take into account a number of important factors that are considered essential to offering a better and more democratic utility. A good example would be how the Next Earth metaverse platform has chosen to distribute funds to charitable causes. This was done via a DAO voting system whereby the funds were divided up proportionately according to an online vote of stakeholders. In fact, Next Earth has made DAO one of their central foundational building blocks for their whole metaverse platform. It will be interesting to see how they implement DAO functionality across the whole business. Many will be watching closely with interest. But by believing in the democratic principles that DAO offers, along with a noble goal of supporting environmental charities, we believe that Next Earth will be one of the first entities where profits go to those the community of stakeholders feels are deserving.
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The reason behind Next Earth's Binance Smart Chain bridge
Why BSC, you may ask — Next Earth's got the answer
Since its launch in September 2020, Binance Smart Chain has been making waves in the blockchain realm, especially the metaverse sphere. Operating in parallel with the Binance Chain, the BSC delivers more throughput and higher efficiency. No wonder Next Earth chose BSC to deliver an unmatched metaverse experience.
Smart contract enabled BSC offers a high usability factor in Ethereum Virtual Machine (EVM). So, developers can seamlessly power their Ethereum-based DApps.
Furthermore, users create ideal ‘Pegged coins’ with Binance Smart Chain, which feature highly efficient cross-chain transactions. The BEP-20 tokens work similarly to Ethereum’s native tokens, i.e., ERC-20 type. BSC offers the flexibility in deploying BEP-20 tokens in various asset types, thereby giving developers more leeway in handling transactions.
Super-fast transactions due to the ‘Proof-of-Authority’ make sub-3 second transaction time a reality. The result is low-cost transfers which ultimately benefit Next Earth users immensely. Furthermore, the Next Earth community experiences considerable user uptake courtesy of BSC.
Why Next Earth Leverages BSC to Deliver More Value
Since Binance Smart Chain is EVM-compatible, it leverages the diverse Ethereum universe.
Consensus
Proof-of-Stake consensus algorithm delivers sub-3 seconds transaction time. Furthermore, the Proof of Staked Authority allows for BNB staking for achieving validator status, i.e., a user is granted transaction fees in return for their valid block proposal.
Cross-Chain Compatibility
Binance Smart Chain ensures assets can be transferred seamlessly between blockchains. Such high interoperability is beneficial for metaverses where participants require numerous use cases. As the metaverses grow, various NFT-focused dApps sprout, they will want to co-exist moving NFTs between each other and not be limited by platform or blockchains. 2021 and 2022 will see an increased focus on interoperability.
Binance Bridge
Cross-chain transactions are handled seamlessly using Binance Bridge. Users enjoy interoperability for more than 40 tokens.
Language support
Binance Smart Chain websites offer support for more than 16 languages. So, there’s no language barrier in Next Earth.
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Understanding Pegged tokens and Why BSC Metaverse
A pegged token has its value tied to the original underlying asset but uses a different token standard. In the metaverse realm, it means ERC-20 tokens are transferred as BEP-20 tokens at a significantly high speed and low cost.
Apart from fast transactions that take just 3 seconds, the low transaction fees (in cents) benefit the community. Additionally, significant exchanges have recognized the BEP-20 tokens.
No user in metaverse wants to wait few minutes for a transaction to settle. The lag kills the interest. You cannot build on a metaverse waiting indefinitely for a transaction to settle. Metaverses are more than just a concept now. Real businesses are being built on metaverses which will require real-time settlements. BSC does just that.
So, how big is Binance Smart Chain exactly?
Since its launch, BSC has leveraged the mushrooming DeFi market. Currently, the platform boasts more than 7,900 DApps running successfully. User deposits are in the tune of $41,588,673 daily.
In September 2020, the average block time stood at 3.00 seconds. The average transaction fee on BSC is approximately 22.5560 gwei.
Metaverses are the latest solutions to take advantage of the Binance Smart Chain’s diverse credentials.
Considering these statistics, no wonder Next Earth has massive potential in terms of growth. The safe financial credentials delivered by Binance Smart Chain are a powerful solution that metaverse enthusiasts can trust.
Going Beyond Metaverse — Why Next Earth
Blockchain realm is known for its speed of innovation. It is usual for viral projects with huge potential to quickly get out of reach of regular participants. So, it becomes crucial to identify projects that deliver value along with growth.
Next Earth delivers just the right combination of affordability and opportunity.
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How Metaverse Projects Influence The Future Of Marketing
Similarly to NFTs and DeFi solutions, metaverse projects are slowly forming the next major branch of the crypto world. The term's popularity increased steeply in the past couple of months, which might be due to the contribution of Facebook's announcement about the future of metaverses.
What is the metaverse segment?
Although the Metaverse is not a new concept, it is only taking the world by storm this year. The word Metaverse is a portmanteau of the prefix “meta” (meaning beyond) and “universe.” This term was first coined by sci-fi author Neal Stephenson in his book Snow Crash, which tells the story of humans interacting with each other using avatars in a 3D world.
What do marketing agencies need to know about the Next Earth Metaverse segment?
Just like the way social media transformed the consumer world, the Metaverse will do the same. Metaverse will craft channels for the marketing agencies which will benefit their business.
The crafting of the channels will allow the marketing agencies to be more productive and creative.
How will agencies use the metaverse segment?
Right now, the recapitulations of the Metaverse segment can be seen with the Animal Crossing & Roblox gaming, but this is just a start! With time, marketing agencies will launch their platforms for wide-ranging viewer subscriptions.
The creative user can imagine infinite possibilities with Next Earth, from a global DeFi ecosystem with lending protocols; to an IDO platform where the community can find the best deals; to NFT galleries created by marketplaces, individual collectors, or artists.
The invention of online bars will bring friends closer for virtual exercise.
How can Next Earth metaverse change the game for marketers?
All DeFi, NFT, and other crypto projects are welcome, alongside community members creating their businesses and mainstream companies entering this platform. The incredible possibilities of this ecosystem boggle the mind. As one marketer had pointed out, this technology’s prospects and all the improvements it can offer are “out of this world.”
Imagine walking down the street with your date; you forget where you place the surprise for her. Transfer this situation to the Metaverse segment. Your brain-computer will recognize where you have kept the surprise & will guide you on how to reach there.
Next Earth Metaverse segment is beyond human imagination, as its name says.
Why does the metaverse segment matter?
Next Earth’s system of self-governance distinguishes this platform above other pecuniary business ventures. Consider that people and organizations involved in Next Earth provide the necessary regulations and frameworks for how space should be used. This culture of generosity comes into play through charity, which is a deeply integrated part of the Next Earth ecosystem. What marketing agency won’t jump at the opportunity to be a tool for change?
Belkin Marketing envisions an autonomous and collaborative ecosystem, where charity is better positioned to address more problems. One can imagine charities taking over staking rewards, sales commissions, and token burning after the ecosystem. In time, the fully autonomous ecosystem will start driving environmental charity to a new and exciting scale. This eventually will turn Next Earth into one of the most ambitious environmental funding projects ever created.
What are the core attributes of the Next Earth metaverse segment?
The core attributes of the Next Earth Metaverse are as follow:
Accessibility: Metaverse is available for everyone with no restriction at all.
Interoperability: You can access your data, items, and content via different platforms due to the versatility of the Next Earth Metaverse.
Synchronicity: With the Next Earth Metaverse segment, you can relish the real-time experience.
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What benefits does the Next Earth Metaverse Segment offer?
The foremost benefit the marketing agencies will earn with the Next Earth Metaverse is the creation of the channels. The channels permit the agencies to be creative and engage as many consumers as they want.
These virtual businesses, as early adopters, will have a presence on multiple platforms such as Next Earth, Decentraland, The Sandbox, Cryptovoxels, and Somnium Space, for spreading their products and services. In the same way that regular businesses utilize Google, Facebook, TikTok, and other marketing platforms, this project will be realized by using an already proven and highly successful concept, though making it better with blockchain technology, and using it for a greater purpose.
This activity will be done such that the whole community can share in the rewards. And there will be fun and rejoicing in online bars, which will bring together consumers and marketers in a rubbing elbow distance virtually, mounting up to a high number of subscriptions and engagement rates.
Conclusion
The world is changing with every passing second. To relish the advanced life at one click, make sure to invest in the Next Earth Metaverse segment.
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Probably one of this year's biggest stories concerning cryptocurrencies was the sale of a work by artist’s Mike Winkelmann, known as “Beeble”, whose artwork at a Christie's auction sold for an unbelievable $69 million. This certainly made everyone sit up straight and take notice. But it was not just the work of art itself that was attracting attention. More importantly was the fact that, because it was now minted as an NFT, the artist was suddenly able to realise a massive price for it. As you can imagine, digital artists have never really received the the correct rewards for their work. More often than not, once they had completed a digital artwork and it was out there on the internet, then technically, it was free for everyone to use. Unscrupulous actors could even claim that the artwork was theirs. There was no real way of proving to the contrary. And that's why digital artists remained poorly paid. Until NFTs came along to save the day.
So we can thank NFTs for helping artists realize their full worth, as well as being able to hold on to the copyright of the pieces they spent so long making. And though NTs have proved hugely helpful for this group of creatives, another industry that is beginning to benefit from the introduction of NFTs, is the world of online gaming, both games developers and the players themselves.
Once again, we have a situation where companies and their talented employees are producing original designs and products. Then we have the same old story, whereby, once these digital items are out on the internet, then the original designers lose all control over their work. Thanks to NFTs being able to ensure the ownership rights for the original developers are respected, it has changed the digital gaming landscape. As such, it has helped to make it easier for gaming companies to develop more products and digital items, as they are now safe if in the knowledge of perpetual ownership.
One of the first gaming platforms to embrace NFTs was Axie Infinity. By allowing all the users to to buy and sell in-game items via NFTs. When an item is purchased, the ownership rights are minted as an NFT on the Ethereum blockchain. You can look at this as a huge ledger that's open to anyone with an internet connection. By simply perusing the Ethereum blockchain, you are able to discover who owns what digital asset. With this suddenly we have added clarity to issues of copyright. It has allowed the gaming industry to grow in confidence and already we can see other gaming platforms keen to take advantage of the practical solutions offered by NFTs.
Another example is Microsoft, who as you probably know, own the massively popular online game, Minecraft. Microsoft now encourages creatives to develop their own gaming worlds, as well as items and skins. Once again, thanks to the power of NFTs, developers feel confident that they will see the fruits of their endeavors, both now and in the future. In fact, built-in smart contracts that exist within the NFTs will allow those who developed as well as original investors, for example, to see a continuous percentile return stretching into the future. In other words, whenever an item is bought or sold then the NFT itself ensures that the original developer or designer receives a percentage of the price.
Although we are on the cusp of a new dawn for gaming industry developers and games producers, there is still the hurdle of encouraging companies to look further than their own limited game’s horizons. For example, if you head over to the Steam Marketplace you'll find many items and skins available for huge sums of money. But a limiting factor is that they are only available in their own gaming ecosystems. In fact, many companies will ban players who attempt to either mint these skins as NFTs or sell them outside of the original game marketplace. Now that the developers themselves can mint their own products as NFTs, we should start to see an opening up of all these different games marketplaces, allowing players to chop and change as they choose. Imagine that you could bring a purchased item from one game to the next on a completely different platform.
And it's this ability to move between different platforms that is driving another new start-up called Next Earth. They are a metaverse project that recently made a huge splash in the crypto space. Right from the get-go, they have decided to build their business around three main foundations; NFTs, DOA governance and DeFi finance. Though the initial stages involved players buying land and sea tiles from a replica map of the Earth, that's just the beginning. Their goal is to use all three factors previously mentioned in order to start building a self-sustaining and unique economy based on a metaverse version of the real world. Though there are some other metaverse platforms out there, they are more interested in embracing an online gaming experience. But Next Earth wants to open itself up to more than just internet gamers.
Sounds like a great project, sign me up!
By making use of the inherent positive aspects within the NFTs themselves, Next Earth is looking to build a real economy bringing together real-world businesses and having them interact in a virtual world where all virtual sales would equal tangible sales in the real world. Thanks to NFTs everything can be tracked and recorded on the blockchain. Right now, Next Earth’s unique approach to metaverse building is attracting a lot of attention. If you want to find out more about this exciting new community, then head over to their discord server and feel free to join the conversation.
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Virtual Land Ownership is the Hot New Trend - Next Earth
Looking back over the last two decades we can see that cryptocurrencies have totally changed the financial landscape. In many ways this also applies to the relatively new concept of virtual land sales. In the same way that cryptocurrencies have entered the real world realm of traditional land ownership, then it's no surprise to see it's crossover into the field of virtual land ownership, especially in conjunction with the rise of metaverse platforms. Of course, the idea of buying virtual land is pretty cool in itself. But with real land prices going through the roof, then virtual land offers investors an opportunity to get a foot on the first rung on the land ownership ladder by getting in at the beginning.
One of these new virtual land based platforms is Next Earth. Built up on the foundations of DeFi innovations, DAO governance and metaverse economy building. And with all records minted as NTs on the blockchain, this platform already has solutions to many of the practical questions of land ownership. In fact, the ownership of virtual land forms a basic pillar of the whole Next Earth metaverse project. By starting with the sale of earth tiles, Next Earth is looking to build on land ownership innovations. Early adopters to the project will be able to partake in exciting metaverse building from the very beginning.
Probably the biggest question on everyone's lips is: why be a virtual landowner? There are a huge number of reasons why virtual land ownership is full of possibilities. Let's have a look at them one by one.
Early Adopter Advantage
As with virtually all things crypto, the major benefits appear to go to early believers. Right now, virtual land ownership is coming to the forefront of investor’s minds as the media has started to pick up on these fantastic opportunities. Those who are able to jump in early will reap future rewards as the project’s initial team of supporters.
Huge Growth Potential
You only have to take a look back when cryptos first started to make an impression across the public consciousness to understand how quickly any new project can pick up speed. In doing so, potential growth can become massive. Once again, those who jumped in early will be the ones crushing it.
New Business Possibilities
Although the Next Earth initial phases are focusing on the sale of virtual land, it's what buyers will be able to do with their land plots that will be driving this metaverse project forward. The possibility of either using your land for construction or rental, especially with the introduction of smart contracts on the blockchain, allows for a complete economy to be constructed around the initial sale of virtual land.
Increased In Market Value
As with virtually all crypto projects, the greater the number of users, then the faster the price of virtual land will rise. But keep in mind that the idea behind the whole project is to construct a self-sustaining ecosystem. One that is able to run itself thanks to DAO elements, as well as DeFi. The overarching goal is to construct a metaverse platform which will function as an autonomous profit-making economy.
Staking For Profit
Right now, “staking” is one of the buzzwords you'll hear in relation to cryptocurrency projects. Next Earth landowners will soon have access to tokens. Thanks to being a landowner, you will have the possibility to stake for profit.
NFT Collectables
Once land ownership NFTs are minted on the Ethereum blockchain, then Next Earth landowners will have the opportunity of using their land to construct a portfolio of any number of NFT collectibles. And keep in mind that these NFTs will have their own smart contracts built-in, allowing benefits to flow backwards to the original holders.
DAO Voting And Governance
Next Earth is one of the first metabase projects to implement complete transparency through DAO. You can look on this as a form of democratization, whereby the project is in the hands of the landowners. Only they are allowed to participate in deciding the project's direction.
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If you didn't get in on the first round, then never fear, as the pricing algorithm has not yet kicked in. The marketplace will open towards the end of September 2021 and we're expecting to see a surge of interest which will push land prices even higher. Once again, there will be many buyers who will not be looking to sell, but rather focusing on the long-term benefits that come with a virtual land ownership. Presently, Next Earth has built up a substantial community of like-minded people. All are basically interested in looking for opportunities in which they can build and contribute to making the project even better. For them, their community is very much involved in helping other New Earth landowners discover the possibilities of their land ownership.
If you take a look around the Next Earth White Paper you'll discover many new ideas which, coupled with knowledge and innovation, will only lead to terrific rewards for those who buy land at any stage. Whilst there’s presently an ongoing media campaign to promote awareness, the metaverse project also has a system by which buyers are awarded for sharing their Next Earth experiences.
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With cryptocurrencies becoming more and more popular, NFTs are appealing to a bigger, more diverse audience. This new market has changed the way people think of digital assets. Now, metaverses pave the way to a new age in the crypto sphere — one that includes every realm of today’s digital world. Let's see how Next Earth encapsulates this new direction.
Metaverses promise an all-round experience. However, their potential can only be built on a solid crypto gateway. As more people explore the metaverse, the financial aspect must also be sorted. Next Earth has learned how users in parallel metaverses have struggled with financial and consensus mechanisms in their infancy. This shortcoming is where crypto gateways come into focus.
You must know about the burgeoning metaverse realm and its implications on the crypto universe if you are a crypto enthusiast. Powered by NFTs, the metaverse crowd is going after virtual real estate like never before. With so much money invested in virtual land deals, a sound crypto gateway is as important as aviation fuel to airplanes.
Next Earth’s ideal crypto gateway characteristics
Think of a crypto payment gateway akin to a traditional gateway, albeit only for transactions in cryptocurrencies. A crypto gateway facilitates the seamless conversion of fiat currency to cryptocurrencies, NFTs, and digital assets. A host of tools ensures that users can access their money or equivalent value to deal in virtual metaverse land.
The native token of Next Earth is built on the BEP-20 standard, similar to the ERC-20 tokens in the Ethereum blockchain. However, low transaction time and ultra-low transfer cost separate the native token from conventional tokens. Add secure processing along with a multitude of conversion options, and we have a winner! No wonder Next Earth wants to be the crypto gateway.
NFT foundation boosts Next Earth’s crypto gateway quest
Tokenomics on Next Earth is simple, fair, and effective. Next Earth’s Wrapped ERC-20 token allows for seamless transactions across the entire spectrum of the project. Whether users want to buy virtual land, stake or do any other business related to the platform, the native token delivers.
Here’s how Next Earth is poised to become a crypto gateway
Deflationary NFT tokens are burnt after every transaction
Transaction time of under 3 seconds
Remain fully compliant with the latest standards
Environmental charity allocation right from the start
Staking rewards ensure community participation
Support economic systems outside metaverse via transparent transactions
Help increase subscription via enhanced participation mechanisms
Community development focus rather than just profits
Next Earth aims to bridge the physical-digital divide by offering an immersive experience that beats any other metaverse out there. The entire planet’s virtual land deals make Next Earth one of the most investor-friendly platforms now. There’s more focus on community development rather than just profits from virtual land deals.
Imagine creating digital personas without real-world limitations in a world inspired by the only known habitable planet in our galaxy — Earth. It integrates interactive reality into every aspect of our lives, creating a new dimension of virtual living.That’s Next Earth for you!
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Non-fungible tokens (NFTs) are unique digital items that possess distinct properties, making them unique and absolutely irreplaceable. NFTs have taken the world by storm, breaking the internet with ridiculous artwork sales, music albums, and an autographed tweet by Twitter co-founder and CEO Jack Dorsey that certainly turned heads.
However, the potential of NFTs is even more far-reaching than anything we have seen so far. The gaming industry can also benefit from the concept of NFTs, making it easier for game developers to add unique virtual items to their games. NFTs have also facilitated the development of user-owned and user-operated economies. These economies exist within the games and allow players and game developers to participate through proper incentivization.
To get a complete picture of how NFTs can affect the gaming industry, one first has to understand the state of NFTs today, and the exciting projects that are coming in the future.
The state of NFTs today
Although NFTs are a relatively new concept within the blockchain industry, there have been significant developments in the field to fill out ten years. Axie Infinity recently took the NFT space by storm with its unique approach to gaming. The platform allows users to buy and sell in-game items and NFTs to anyone else on the platform. This integration creates a robust NFT economy that subsequently generates income. As of today, the entire marketplace charges 4.25% of every trade completed on the platform.
These NFT and gaming industry developments paved the way for noteworthy NFT projects such as NextEarth. NextEarth is an NFT platform that aims to actualize digital land purchases. The platform allows users to buy and sell land instantly and directly from their wallets.
How NFTs are changing the gaming industry
Audentes Fortuna iuvat — as the famous proverb loosely translates, “Fortune favors the bold.” This Latin proverb could not be more accurate than in the case of Bitcoin. Early adopters of Satoshi Nakamoto’s revolutionary blockchain idea have reaped the seeds of their bravery in multiple folds, seeing their investments shoot for the famed ‘moon.’ NFTs are the latest innovation to spinoff from Satoshi’s vision, and they have proven to be promising concepts that are worth investing in.
NFTs are blockchain-based. Hence it is easy to track ownership of these digital assets to ensure the authenticity of every collectible item.
The gaming industry has ardent supporters with thousands of dollars invested in their favorite games. Generations of game players have made this industry the behemoth that it is now, presently valued at over $90 billion. It is not all roses in the gaming industry, though. For example, on the Steam marketplace, “skins” from the Counter-Strike video game series sell for several thousand dollars. However, these items are limited to the game ecosystem. Any attempt to sell skins as NFTs outside the game may result in a permanent ban or the seller getting scammed.
The introduction of NFTs can improve on this age-long shortcoming. According to Jeremy, CEO of Leyline, NFTs present a free-to-play model, allowing users to import NFTs into different games.
NFTs are becoming more popular with several exciting projects in line to be improved by this innovation. The gaming world is the latest to embrace its potential. Below are some interesting NFT projects that will undoubtedly propel the industry to the next level.
NFT projects: The new frontier
One interesting NFT project to look out for is the Next Earth project. This project is based on the Binance Smart Chain because of its fast transaction time and low fees. The smart contracts are built on the Ethereum blockchain network, and the prices are validated through Chainlink oracles. Next Earth has sparked interest across the internet, with an overwhelming number already interested in becoming virtual landowners.
Additionally, NFTs are increasingly impactful in the gaming sector for both gamers and developers. For Instance, Minecraft permits the creation of individual gaming worlds and skins. Through the power of NFTs, designers can create and sell unique designs to gamers in the future.
Conclusion
NFTs are revolutionary in several ways. Ideally, the concept has the potential to recreate several aspects of our lives. The gaming industry, in particular, is already benefiting from these NFT concepts, leading to a significant surge in revenue for game owners, developers, and investors.
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Metaverses are the future. Metaverses appear to be the future that is happening right now! One of the fantastic miracles of blockchain has to be the metaverses since they have transformed the way people interact. And now it seems that various metaverses are ready to mingle with each other taking the communication channels from intra-metaverse to inter-metaverse stage.
Interoperability is seen as the next big thing in the metaverse realm. While futuristic metaverses shown in movies are highly immersive and interactive, the current metaverse realm seems to be catching up fast as the chorus for cross metaverse is rising.
The sense of uniformity among virtual worlds will be a massive game-changer for the communities to discover interoperable ecosystems. From financial to virtual land deals, the metaverse communities will operate in a way much similar to the real-world scenario. The sense of commonness in virtual worlds would further empower the communities.
Cross metaverse communities – Taking human diversity in the digital realm
One of the prime visions of Next Earth is to open up cross metaverse communication channels. By helping individuals reach out to other communities, the whole digital universe would be one big playground. The financial implications of such a scenario would be enormous. It is psychologically compelling to work towards the inter-mingling of online communities.
Interacting with other metaverses and encompassing a universal experience would be ubiquitous shortly. The current pace of metaverse development is already headed in the same direction. It would help in broadening the digital identity appeal by taking us one step further into online existence.
Our comprehension of the physical world would undergo a sea change when various metaverses would start to interact with each other. For example, the Next Earth communities can interact with gaming metaverses, education portals, etc., to access many more services. The implications are way too advanced to comprehend in the current metaverse context.
High Accessibility – Every metaverse is different. Currently, it would help if you had specific access credentials or infrastructure to log in to a particular metaverse. However, the cross metaverse scenario would enable you to reach your destined metaverse via multiple channels. Users wouldn't need a dedicated desktop to access their avatar in a specific metaverse.
Maintain Uniqueness – What's unique about cross metaverse communities is that different metaverses promote the same unique individual identity. It is very similar to the physical world, where you can visit different nations with a single identity. All the financial, entertainment, gaming, education metaverses can be accessed via one single sim.
Interoperability - Users can work across different layers of metaverses through various networks and subnetworks. The level of interaction would be much more intricate than the current standards as users travel across various metaverses. The transition has to be seamless so that interaction remains trustworthy.
Cross metaverse represents true digitization of human experience
Layers of interoperability have to be built upon the foundation of security, transparency, and decentralization. As model standards come into existence, much will depend on how various metaverses resolve their protocol differences. The transactional and interactive regulations across various entities have to be resolved amicably to power the cross-communication amongst metaverses.
Infrastructural challenges would have to be managed as well. The collaborative virtual metaverse experience is still years away, but the foundation has already been laid. The virtual land sales on Next Earth indicate how the time for cross metaverse is already here.
How NFTs Turn Ownership Upside Down - Economy-Building Games
What exactly is an economy-building game?
With the emergence of MMO games, financial systems within games gained much more focus. These currencies and elements (XP, pricing, premium currencies, etc.) within a virtual environment must all be finetuned to achieve a balanced ecosystem. Most players complain when their favorite developer makes changes to their beloved games, but without looking into this very delicate system, it’s hard to see how much work is put into them on a daily basis.
The primary objective for game developers is to create an exciting game experience with optimal monetization mechanisms to maximize revenue. These mechanisms are translated in the game, affecting how the developers plan and implement the environment and how players interact with it.
Reinventing economy-building games
To understand how NFTs can reinvent economy-building games, one needs to grasp what NFTs are. What is an NFT then?
NFTs have been around since 2014. However, they recently gained more popularity when people saw it as an innovative way to buy and sell digital artwork. Unlike most fungible assets, NFTs are generally one of a kind, meaning they are not in infinite supply.
You might also be wondering to yourself, “What’s the fascination with NFTs if I can simply view it online like any other person?”
Well, purchasing NFTs provides buyers with exclusive rights to the item. There is also an in-built authentication to show that the asset belongs to you alone (more like a bragging right). These bragging rights and exclusivity make NFTs worth holding. In addition, NFT creators receive royalties from every sale or transfer of ownership.
The future of NFTs in gaming
NFTs hold the potential to disrupt the entire world as we know it. The NFT standards also have multiple potential applications that can change the digital gaming landscape forever.
Major gaming companies such as Riot and Epic have started on this path. These companies have made online games easily accessible, causing interest in first-person shooter and online battle-arena games to grow exponentially. These gaming platforms make gaming enjoyable by allowing users to customize their avatars and gadgets with skins. It is mind-blowing how much gamers will invest in improving a game’s aesthetics. How much more will they do to improve the gameplay itself?
These skins have become an integral part of video games. NFT artists can sell their art, claim ownership, and authenticate their skins. Merchandising skins are not the only opportunities that NFTs offer to the gaming world. Imagine a scenario where gamers can create their world - platforms such as Witchcraft and Minecraft already provide these features to gamers.
Without NFTs, gamers will lose all their investment in a particular game if the game is discontinued. NFTs could offer the transferability of skins across different games. NFTs also provide a medium for gamers to sell their virtual worlds and ownership rights to others.
The possibilities are endless!
Next Earth ecosystem & NFTs
Next Earth is an NFT-based business metaverse with a DeFi ecosystem. Its mission is quite fascinating, and it forms the basis of businesses in every metaverse. The goal of the blockchain company is to facilitate land ownership through NFTs. Next Earth’s missions are outlined below:
To create a disintermediated DeFi-powered system
To create a global community-based governance system promoted through a Decentralized Autonomous Organization.
Actual virtual land ownership aided by NFT based-universe.
The early adopters’ advantage
Infinite possibilities exist within Next Earth’s platform. Users are welcome to introduce NFTs, DeFi, and other crypto projects. Community members can create their businesses, while mainstream businesses will fit right in on the platform too.
Early adopters who become landowners have the potential of reaping benefits since the prices and uses of these virtual lands are expected to rise in the near future.
Are you worried that your friends did not get on board early enough? It would interest you to know everyone is welcome to the party, and they also get a share in the price benefits. Landowners are allowed to create their NFT collectible portfolio and get paid when people or corporations use them.
Next Earth is a community that values innovation and creativity. You can contribute to these communities by building an idea into something greater with highly rewarding activities such as land ownership without breaking the bank or investing in other metaverse projects for higher rewards.
Conclusion
Users interested in these activities and willing to give back their knowledge will commit time towards helping others while also experiencing levels never seen before on Next Earth!
If you consider being a virtual landowner with endless possibilities, you should seriously consider Next Earth, where a world of possibilities awaits you.
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Next Earth leverages the NFT economy model, which has transformed the way crypto business is carried out. A whole new generation of creators are engaging users to create mutually beneficial financial systems. Today, NFTs power social progress in metaverses, thereby making them the foundation of virtual worlds. How does this work though? How is an economy built using NFTs?
A creator economy is built on crypto fundamentals, i.e., privacy, decentralization, and innovation. Virtual worlds thrive on robust financial models built on non-fungible tokens used to conduct almost every type of transaction. From digital art purchases to virtual land deals, everything is carried out using NFTs.
Metaverses are whole new digital universes where brands reach out to community members directly. Creator economies give precedence to digital innovation. Unlike a traditional centralized business environment, the shared values drive financial considerations. It is pure creativity manifested at an unprecedented scale.
Finance will never be the same
The launch of Bitcoin was an epochal event in the financial realm. The technological empowerment it gave to the traditional finance world bought massive shockwaves that have transformed the way people buy and sell things. Today, NFTs are having a similar impact on the crypto realm as they power entire metaverses.
True Ownership – Unlike central bank-controlled fiat, NFTs are truly owned and controlled by the individual.
Permanence – NFTs exist forever from the day of minting.
Provable Scarcity – Community-driven checks ensure NFTs retain their value.
Provable Provenance – Recordable existence ensures the entire history of NFTs’ existence.
Devoid of any intermediaries, tokens will provide lightning-fast transaction times along with superior security features. The trust factor improves multiple folds by removing intermediaries. NFTs represent digital assets value where an individual wields absolute control with zero centralization characteristics and transparency.
One NFT will represent one hundred square meters of the Earth's surface. Users can purchase NFTs only via a crypto gateway to foster the broader adoption of cryptocurrency.
Token economies are transformative – So, are metaverses
Decentralized economies are too big to ignore. As virtual land deals score higher each day, the NFT-driven revolution waxes stronger. These transactions offer lower friction, quicker transactions, favorable market conditions, higher security, and extensive customization. In metaverses, tokens are the lifeblood.
In the future metaverses, tokens will take many forms and perform various functions. For example, different tokens will be used for utility services, virtual land, art tokens, etc. The NFT economy is going to encompass every aspect of your digital being.
NFTs are just getting started
The spark ignited by Bitcoin grew into the embers nurtured by NFTs. From all indications, these embers are ready to grow into a raging inferno that will engulf every aspect of crypto and virtual life as we know it.
From digital artists to games and subscriptions, every metaverse activity will be accessible via NFTs. From a user experience standpoint, the current breed of NFTs is just the beginning of a developing spectrum of financial solutions.
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