The past few years have bore witness to a sudden rise in the number of metaverse projects, with the majority building on the growing interest in the NFT space. However, while there are several projects focused on building a virtual world, there are only a few paying special attention to the onboarding process.
For instance, there are several metaverse projects in which users can acquire virtual land and property, but are left to decide what to do with the property, or how to even get it done by themselves.
Certainly, not everyone is a software developer, and so, it is only expected that, beyond the acquisition of property, users are still required to have the technical know-how to make the best use out of their acquisitions.
As a result of this, most people end up buying into avatar projects, such as images of a popular character, which often come in the form of headshot digital profile pictures.
On the other hand, these avatar projects are homeless, implying that they only reside in their owners’ wallets and might as well remain archived until they are put up for resale. One project that seems to have been able to figure this out is Property’s.
The NFT project is on a mission to give avatar projects a home; explained in other words, to migrate Avatar projects from the wallet in which they would ordinarily reside, into the metaverse, a more befitting virtual world.
In an exclusive interview with DailyCoin, Konrad Probst, and Joseph Effendy, two of the creators behind the Property’s project, unveiled some of the mystery around the unique NFT solution.
To begin with, Property’s, unlike most currently available metaverses, makes the process of developing a virtual estate next to seamless. Technically, users are required to collect several cards, which are otherwise known as the ecosystem’s utility token, “Bricks.” These Bricks, when put together, form virtual property such as housing, real estate, e.t.c, in which users can house their various avatars.
According to Probst, the process of collecting these cards can be compared to that of a game of Monopoly.
“So we have color coded cards which are meant to be collected. The more you collect of the same color, the closer you are to forming your streets, districts, and cities. Even so, the more cards you are able to collect, the more utility tokens - namely ‘Bricks’ - you will be able to claim,” Probst explained.
Primarily, Property’s is ladened with the role of creating a real estate for the metaverse in NFT form, while giving homes to metaverse projects. On the other side of this, end users are tasked with collecting NFT cards which are then used to develop their virtual properties, and in doing so, getting rewarded with utility tokens known as ‘Bricks.’
‘Bricks’ as they are natively called, fuel the ecosystem and, according to Probst, do not have any monetary value other than for the purchase of avatars in the metaverse.
“Token holders can buy new outfits, interiors and exteriors for their homes; participate in games; watch content, or any of the stuff that you can do in a metaverse, either from the activity side, or from a cosmetic standpoint,” Probst underlined.
The “Peter Property” Narrative
Given the surge in the number of NFT projects of late, it has become increasingly challenging to build something that stands out. As a result, backing up an NFT project with a genuine narrative is a firm way of setting oneself apart from the crowd.
In this way, the creator of Property’s chose to front the NFT project using the tag phrase “Peter Property.” According to Probst, Peter Property is what the project uses to put a story behind the virtual houses that are being sold.
As Probst explained, People often fall in love with the design or the architecture of a house, but done on a digital level, it can be difficult to pull at the same emotions people would usually connect with.
“We connected a whole storyline where Peter Property is portrayed as the boss of the real estate agency; as such the name becomes the leading figure which the whole narrative revolves around,” Konrad explains.
Social Media Platforms May Soon Adapt to the Metaverse
According to Probst, the current social media experience may soon evolve to become more immersive. In his words, “the metaverse is the next natural progression of what a social network is set to become and it is the same for the overall digital experiences.”
Probst further noted that the likes of YouTube, Facebook (NASDAQ:FB), and Instagram are already positioned in such a way that the metaverse can really integrate them into a new setting. Without saying much, Facebook is already treading new ground, having rebranded as Meta, with part of its long term plan being to build a future in which people have more ways to interact and connect in the metaverse.
While the world gradually shifts towards the metaverse, Probst believes there are also negative aspects to the innovation. For instance, people may find it difficult to find an appropriate balance between their real life experiences, and those of the metaverse.
“So, I believe the metaverse will help people cultivate friendships and new relationships, but people will still need to meet in person, and I think there's this entire gloomy idea of people being at home and everything being so immersive that they can just remain at home and touch, feel, smell, and taste everything,” Probst noted in conclusion.
Ultimately, Property’s is approaching the metaverse by turning over all the stones, and more importantly, prioritizing providing a safe space for all users.
On The Flipside
- Property’s is yet to create a metaverse of its own; this means that its success relies heavily on partnerships, at least from the initial outset.
- Property’s requires users to collect unique NFT cards in order to develop streets, houses, virtual estates, and much more. On the other hand, this approach may not be appealing to users who prefer to purchase readily available virtual properties.
Why You Should Care?
Property’s is a blend of metaverse and GameFi, implying that users can anticipate an entirely new experience, one that is vastly different from the majority of currently available projects.
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