Ethverse Gaming Multiverse: Cryptocurrency + NFT + Defi
Ethverse is a cryptocurrency general gaming multiverse consisting of three Blockchain components:
1)The Ethverse Ethereum ERC20 based cryptocurrency token to enable buying and selling of players efforts in game, and in game objects, which transfers to real world monetization for players via the Ethereum network. The in game token of a particular game will be the Ethverse token, and will be linked to the Ethereum blockchain, thereby enabling users to trade in game Ethverse tokens, for actual cold hard fiat cash. For example, Ethverse in game can be paid to someone skilled in building a minecraft house, the builder takes the Ethverse and trades for ethereum, then can go to Coinbase, or Kraken, or Binance, and trade the ethereum for their local fiat currency. The medium term goal, once the Ethverse system becomes built out, is to have it listed on coinbase, Binance etc, and then one can directly trade it for fiat in the future.
2) Land Non Fungible Tokens or “NFTs” using a supra ERC721 standard provided by OpenSea to enable landownership in a way that permits Decentralized Finance or “Defi” based on land ownership bought by using Ethverse cryptocurrency. Player will be able to take out Defi loans based on land ownership. The Ethverse land NFT will have fifty percent of the land purchase price in Ethverse token embedded in it, providing a safety margin for decentralized loans taken out on the lands worth. The specialized Ethverse land token will be tradable on OpenSea.
3) Standard NFT tokens (ERC721 and/or ERC1155) to allow ownership and monetization of in game objects besides land for trading via Ethverse token. In the future cross game NFT trading is envisioned. These tokens will be tradable anywhere.
One of the games Ethverse System is being built on is Minecraft. One has to buy the Minecraft game to play. Anything possible in Minecraft, can be possible in Ethverse Minecraft cities, depending on the cities configuration. The first city to be created is Vega City in Minecraft. Within this city there will be 56 land plots auction off and owned by players. The land will be able to be rented, and mortgages taken out on the value. New cities with different designs and characteristics can be created and owned by the creators, by buying a city with 1 percent of the outstanding ethverse tokens, a portion of which will be burned. The owners would then have an auction, and can sell plots within the city, to other owners, all under the Ethverse token system.
As Ethverse is a multi-gaming platform, the next game planned is Grand Theft Auto, GTA, which will operate in a similar way. One likewise will have to buy the GTA client to play. The first GTA city will just be another city in the Ethverse Multi Gaming Universe. There is parallel development work being done now to develop the first GTA Ethverse city.
The main incentivization for players to join Ethverse is the monetization of the players in game efforts. Many current Minecraft games have economy built on in game currency and objects, but these in game only currencies and objects are not monetized in the real world. Basically, only the servers owners benefit from this economy. Ethverse will allow all participants to benefit in the real world via the Ethverse token being the in game token, while also being exchangeable on the Ethereum blockchain for money. 13 year old kids, much like delivering papers on a paper route, could make money by their efforts in Minecraft, GTA games and other future games backed by the Ethverse System.
The huge advantage of Ethverse Gaming Multiverse over other multiverse systems is that Ethverse is built on top of existing popular games that already work, game engines that are well developed, working, relatively bug free 3D rendering engines already present, huge player numbers already present because the games are provably fun to play. Minecraft for instance, has 100 million plus monthly users currently. Ethverse is “simply” a Blockchain Cryptocurrency + NFT + Defi layer on top of existing games, enabling players to monetize their in game play which they already do for free currently.
For further Ethverse information:
Ethereum is a decentralized open source blockchain featuring smart contract functionality. Ether (ETH) is the native…
A non-fungible token (NFT) is a special type of cryptographic token which represents something unique; non-fungible…
Decentralized finance (commonly referred to as DeFi) is an experimental form of peer-to-peer finance running on…
This article is based on the author’s current understanding of the Ethverse Multigaming platform, which is in early stage development. The author is not a developer, or part of the project. Always DYOR.
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