Entering the Metaverse - Part 3

Status: Draft Proposal Author(s): CryptoChicca

Discussions-to: metaverse discussion in discord, Entering the Metaverse! (USE) and Entering the Metaverse (WHAT / WHERE)

Created: 4 November 2021

Implementation (optional): Review and comment for 3 days and then proceed to BIP if bears wish to proceed, based on voting indicators.

Buzzed Summary

BIP-003 approved investment through the following honeypot allocations:

30% metaverse content
20% NFTs (via Investment Committee)
10% NFTs (via community proposals)
20% DeFi Content
20% Spending Reserves (as ETH)

This proposal aims to give implementation to the metaverse content.

Do you want to take this metaverse proposal to BIP?
  • Yes
  • No

0 voters

Abstract β€Œ

Metaverse has been largely discussed in discord and the hideout. This short BIP pulls together the information discussed in those forums. Due to the significant increase in metaverse tokens and metaverse sales following the announcement of metaverse uptake by Facebook, it is important to act without further haste, to avoid bears missing out on further opportunity.

Bears have defined the goal / purpose for the metaverse through vote, as being a place for both socialisation and monetisation. This means it can be used as both a place to stream AMA/townhall, gallery for bears, a place to support a launchpad, merch, games and even potential future huts or caves for bears.

Options have been considered, and the Sandbox has presented as the best option to suit the use proposed. Having a 3x3 will allow our PFP to be displayed on the sandbox map, so we are easier to find, which helps with monetisation.

Other land and MVI tokens should be considered to be purchased as part of the buzzed bear portfolio of metaverse options.

Motivation

  1. Crypto is moving very fast, and metaverse tokens have 5x the past two weeks and we don’t want to miss further opportunity
  2. Metaverse will be the future for socialisation and monetisation
  3. There are limited land allotments and once they are all sold, land will become premium for the Sandbox
  4. Sandbox goes live Q1 2022, so we need to be in early before everyone jumps on board, including flippers who are currently keeping prices up in decentraland.

Specification β€Œ Overview β€Œ

  1. We buy a 3x3 parcel of land in the sandbox (or equivalent blocks which add up to a 3x3 in the same area), either a secondary sale or a partnership option, whichever is most cost effective. At the time of writing, it is the secondary sale option. (price currently estimated between 11-20eth)
  2. We buy land in other metaverses as determined by voting within the metaverse discussion channel in discord. This may include a block within DCL, NFTWorlds, Matrix etc, but may be no further land if that is determined. Votes will go up, and a process will be implemented, following the successful approach of the NFT Flipping Committee.
  3. We approve the Apex Flip Leads to purchase the land (as they are NFTs) through their roles in the NFT Committee
  4. We buy such other metaverse tokens as determined by informal voting within the metaverse discussion discord, and we seek the multisig operators to implement this. This power will transferred to the Crypto Gods leading the Crypto Investment Committee should that BIP (currently in voting) pass. These should be treated as crypto assets and the care for buying and selling be taken to ensure bears investment is best maximised.
  5. We allocated approximately 3-5eth of the metaverse funding to the building of land (if required, noting this figure may change by informal vote within discord). Bears have shown a keen interest to build in the metaverse, so this may not be required, but in the event we wish to proceed, it will enable us to set up an incredible hideout with monetisation options including links to launchpad/merch

Rationale β€Œ

The reasons for this proposal are :

  1. Metaverse is the future for social interaction and also the hub to support business and monetisation, from gaming to launchpads and merch etc
  2. There is potential to grow the honeypot at a faster rate than it is currently growing.
  3. We have enough brain power and crypto experience in the Hideout that should not go to waste.
  4. Massive economic upside.
  5. Protection from loss when needing to enter / exit positions.

Technical Specification β€Œ

  1. The strategy to be governed by the metaverse committee
  2. The implementation to be governed by the NFT Flipping committee
  3. CryptoChicca to continue leading the metaverse committee, until voting is organsised within discord, similar to the NFT flipping committee, to give every bear an option to be part of the committee. There should be 3 bear members like the NFT flipping committee to help with governance.

Test Cases β€Œ

Many NFT groups have metaverse and it is essential for longevity

Copyright β€Œ

Copyright and related rights waived via CC0.

2 Likes

Moved this to a BIP, please vote in snapshot

1 Like