What is Metaverse and what we build in OpenWorld

What is Metaverse ?

Metaverse is a term which is too broad and there are different definitions for it. We can not find an absolutely perfect definition for this concept which probably will be adjusted over time.

Let’s go through some definitions from Facebook and Binance Academy.

  • Facebook: One of the biggest supporters for Metaverse is Facebook, rebranded to Meta. Meta defines Metaverse as the next evolution of social connection.
  • Binance Academy: Binance Academy defines Metaverse as follows: The metaverse is a concept of a persistent, online, 3D universe that combines multiple different virtual spaces. You can think of it as a future iteration of the internet. The metaverse will allow users to work, meet, game, and socialize together in these 3D spaces.

The more you search for, the more definitions of Metaverse you can find and you will lose your direction in Metaverse. We will keep it simple for you, from two aformentioned definitions, let’s find anything in common. It is social connection that is a mirror of our real society but is built up on a digital place. 3D space or whatever n-dimension space in future is just tool in order to help human have connections with each other. It is not what exactly defines one space is a Metaverse or not. If a platform can help people explore it and connect with others, it is a Metaverse.

Let’s look at fundamental elements of a complete Metaverse

1. Marketplace / Digital Commerce

2. Non-Fungible Tokens (NFTs)

3. Device-Independence

4. Digital assets

5. Infrastructures

6. Gaming

7. Concerts and Social & Entertainment events

8. Online shopping

9. Digital currency

10. Workplace

11. Social media

12. Digital human

13. Natural language processing

There are different technologies that can have contribution for Metaverse: Blockchain exclusively cryptocurrency and Non-fungible tokens that will help people have seamlessly experience for gaming, working, interacting, shopping, entertaining etc. in a very transparent and verifiable via blockchain explorers, smart contracts and much more.

Other technologies that can be helpful and bring better and modern experience for people are augmented reality (AR), flexible work styles, head-mounted displays (HMDs), an AR cloud, the Internet of Things (IoT), 5G, Artificial intelligence (AI), and spatial technologies. It’s worth to note that they are supportive elements, not vital elements of a Metaverse. The ultimate goal of a Metaverse is build up social connection amongst humans and digital citizens. If a platform can build up a digital world with such connections internally, it can be called as a Metaverse. On top of that, sooner or later, they can add HMDs, AR, AI, IoT, etc. in order to make it more interesting and attractive.

What we build in OpenWorld ?

OpenWorld is a blockchain enabled open metaverse with a sound circular economy based on real monetary flow. It envisions to open a new dimension for everyone to connect, play, express themselves, and find happiness.

OpenWorld = (Digital experience + Social + Finance) * Blockchain

We would like to call OpenWorld as a digital world that is a more specific definition for everyone to get what it is. As discussed above, Metaverse is too broad and many people will struggle to imagine what it is, what they can have in a Metaverse project.

In a digital world of our project, you will have a place to achieve digital experience, social connection with others, financial interactions and on top of that, we have blockchain that makes all activities are transparent, verifiable smart contracts, provably fair experience for community members. Importantly, verifications can be done by both insiders and outsiders.

OpenWorld focuses on building a digital world with the combination 3 aspects: Finance, Digital Experience, and Art

  • [Finance] Balanced circular economy.
  • [Digital experience] Entertained and value-created digital interactions.
  • [Art] Beautiful and distinct design: visual and sound

OpenWorld is a mobile-based, cross-platform, blockchain enabled distinct digital world. Everyone can join and each persona will have a distinct digital identity. Players can engage in various P2E and PvP games to enjoy and make money. Game producers can create games and sell passes to gamers who want play their games. Artists can build their own brands and open their own shops, design in-game clothing and items, then sell those to highest bidders. Landlords can buy and monetize on virtual lands by reselling those lands or renting the place out for short or long term renters. Virtual architects and home builders will be able to design and build buildings that are so beautiful and special that they can’t exist in the real world for landowners to do their own things: either it is shops, nightclubs, restaurants, observatories, battle arenas, DeFi banks, etc.

OpenWorld strives to create a foundation for a digital world that works: anyone can join, become anything they want to be, create products and services that sell for real money, and enjoy their own existence in a virtual world and community that is at the frontier of gaming and social network.

Ite will be an opened-world to other metaverse projects and work toward achieving technical interoperability: If you buy an NFT yacht somewhere and it is interoperable to our world, you can bring it on and chill on its deck.

For more details, please read in OpenWorld Wiki

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