Blockchain, the fundamental element of Web3, has turned the concept of decentralization into reality, but the emerging industry has experienced a lot of fragmentation. To solve this, developers now spend a lot of time and effort focusing on blockchain interoperability, which has grown into one of the biggest trends today. Elsewhere, the metaverse is gaining traction at an accelerated pace – especially after Facebook’s bold rebranding move to Meta – to bring the promise of Web3 to the next level. However, every company building virtual worlds is promoting its own version of the metaverse, which leads the new industry to repeat the same mistakes and end up with similar fragmentation that had slowed blockchain’s adoption for several years.
Gamium, a tech company offering blockchain and web3 products, is now working to make the metaverse worlds more interoperable by focusing on digital identity and decentralized social experiences. To achieve this, the company has been developing a decentralized social metaverse platform that can be accessed with customizable avatars, which are multi-metaverse compatible.
The Main Components of Gamium Metaverse
Gamium has two key elements that make its ecosystem distinguishable from other projects. These are the avatars and the metaverse.
The avatar is a digital ID represented by a non-fungible token (NFT) that comprises all the digital fingerprints of an ecosystem member, including 3D anatomies along with on-chain and off-chain data, including social media data (friends, followers, etc.), gaming information, medical records, and educational degrees, among others, although users can assign privacy to any of these off-chain data sets.
The great thing about these avatars is that they can be integrated with any web3 or metaverse app through Gamium’s Avatar SDK.
As for the social metaverse developed by Gamium, it combines social features with a 3D world that has two main regions:
- Genesis – the Genesis city is the center of the Gamium metaverse, and it hosts Gamium buildings that contain unique apps, such as decentralized chats, decentralized finance (DeFi) apps, 3D calling apps, and job portals. The city will organize exclusive events and social experiences.
- Neighborhoods – outside of Genesis, there will be ten neighborhoods with Islands and Districts where Avatars can buy LAND to live and develop buildings representing assets and apps through Gamium SDK, a no-code building tool. Each Neighborhood will have its defining theme and architecture created by 3D artists, such as urban designer Firas Safieddine. The first Neighborhood is called SAT, in reference to mysterious Bitcoin creator Satoshi Nakamoto.
Gamium will also include community servers, which are exclusive cities for communities, as well as an NFT marketplace for LANDs, buildings, and assets.
Gamium’s LANDs are rectangular and come in 7 different sizes. Each LAND is represented by an Ethereum-based NFT. The basic LAND unit, of 256 virtual m2, is offered for sale for 1 ETH, with larger ones reaching up to 125 Ethereum (over $300,000). The LANDs sale for SAT Neighborhood started on March 18 and has already crossed the $1 million mark, with the startup initially offering 664 units.
Companies or individuals can buy LANDs to create digital experiences for the rest of the Avatars populating the metaverse, such as organizing concerts, hosting mini-games or exclusive events and experiences, including virtual stores, digital art exhibitions, escape rooms, etc.
LANDs can be connected with any internet or blockchain application to offer immersive experiences in a 3D environment. LAND holders also enjoy the right to vote for decisions about the future of the Neighborhood. There will be a total of 65,536 LANDs.
Gamium Metaverse Tokenomics
Gamium’s decentralized ecosystem will be fueled by two fungible tokens and several types of NFTs representing LANDs (Ethereum), Avatars (BSC), Assets (Ethereum), and Buildings (Ethereum) within the metaverse. The two fungible tokens are:
- GMM – this Binance Smart Chain-based token acts as the governance and utility token for the entire ecosystem. GMM’s maximum supply is 50 billion tokens.
- MST – this upcoming utility token will be used in the metaverse alone.
GMM is already available, while the rest of the tokens will go live at a later date in 2022. In February, Gamium announced the private sale of GMM, raising $2.7 million from a pool of investors that included DAO Maker – the leading accelerator for Web3 projects, Magnus Capital, Masters Ventures, and Unanimous VC, among others.
Gamium is a startup founded by a team of young Spanish entrepreneurs with extensive experience in crypto, Web3, and blockchain. The company is led by Alejandro and Alberto Rosas. The goal is to develop proprietary digital ID technology and its decentralized social metaverse to be compatible with other virtual worlds and Web3 applications.