If the COVID-19 pandemic has taught us any lesson, it is that restrictions on social distancing have expanded the use of virtual interaction.
The pandemic experience had a huge impact on physical spaces, making empty hotels and office spaces a common scenario in the past two years.
As a result, people are migrating to new business models utilizing the digital world, where social trust and human interaction are safer than in physical spaces.
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Also, the reality in the virtual worlds known as ‘metaverses’ seems to go against the current dynamics of the real world.
Within the metaverse, sales of virtual spaces, purchases of digital assets with astronomically high figures, and an increasingly flourishing trade in terms of human and monetary capital are taking place.
In this context, we are observing the emergence of new business models that are being honed in metaverses such as Space, where commerce is the norm, and human interactions are protected from pandemics and epidemics.
But what is Space?
Space is a virtual world where users create a vibrant user-owned economy through unifying knowledge, joint effort, and fair rewards distribution based on a culture of collaboration and economic opportunities.
The Space Metaverse focuses on allowing the development of key elements of human interaction in a single space, such as the social, economic, and individual aspects of the users who enter this world.
Unlike other virtual spaces for human interaction, Space builds structures and dynamics within the metaverse to imitate emotional responses that generate user satisfaction.
In addition, prioritizing the individuality in every human, this metaverse aims to facilitate the creation of alter-egos through communities built around preferences and activities that satisfy the cravings of those who live there.
Finally, the Space Metaverse aims to build a community-driven by the ease of commerce.
As humans, we want favorable conditions to monetize our time, which undoubtedly generates higher motivation and more reasons to explore our environment. This also translates to the virtual reality and space is designed to fulfill these human desires
Space Metaverse features
As mentioned previously, the Space Metaverse is focused on developing its platform based on social and human interaction through commerce.
The reason? Simple trade is the lubricant inside and outside of metaverses.
Do we not go to galleries, concerts, or see a movie and create businesses around these activities? Well, Space wants to bring this human characteristic to its virtual space, redefining the interaction within the metaverse through this activity inherent in human nature.
“Space is a virtual world for creators who create commercial experiences” is how our Litepaper defines it, which indicates that the center of Space is to generate a vibrant economy owned by its users.
In this way, the Space experience focuses on the social interactions and economic opportunities that can be generated within its spaces by the creators who reside in it.
In addition, the space metaverse proposes a highly profitable market mod for transactions powered by the $SPACE token. Also, there is a provision of tools for the construction of goods and services which can be subsequently traded.
Furthermore, the tokenization of goods and the opportunity to generate economic value in their virtual world will be possible thanks to the power of NFTs, as well as a governance system with equity at its core through DAO.
The rapidly growing metaverse industry
According to data provided by the consulting firm Newzoo, there are more than 3 billion game players worldwide as of June 2021, with 55% concentrated in the Asia-Pacific region. This huge audience is expected to grow at an annual rate of 5.3%.
More interestingly, the average revenue forecast across the gaming sector for the next three years is a healthy + 8.7% CAGR reaching about $218.7 billion in 2024, according to the latest Newzoo report, “Intro to the Metaverse ‘’ from July 2021.
Within this growth, blockchain-based metaverses such as The Sandbox, Decentraland, Upland, Somnium, and Space are expected to have great relevance in the sector in the coming years due to the high interest in interacting with these virtual worlds. According to the Newzoo report “Intro to the Metaverse ‘’ of July 2021.
The report highlights the potential interest among current gamers and that enthusiasm around metaverses is beginning to grow among consumers beyond gamers.
With these projections on the table, the future looks promising for metaverses and even more so for the commercial potential within them. With this philosophy in mind, Space will enable a 3D experience to create content, build businesses, interact collaboratively, and own and monetize these experiences through ownership via Ethereum and Polygon blockchain technology.
The future looks promising
With a focus on cutting across all industries, Space has already amassed more than 90 brand associations, including:
- Ready playerMe
- LITO
- Soho Ski club
- Studio MakeUp
- DoinGud
- Polygon
- Rarible
We recently released an early access beta, with a lot of positive feedback on space-metaverse.com. The platform features superior hyper-realistic graphics and tools to easily build experiences with trading functionality.
For now, the roadmap and the future of Space look promising.
Follow us for more information on Space.
Telegram: https://t.me/joinchat/V2OXJjTq8aU5MzM1
Discord: https://discord.com/invite/TvYg2YHDyy
Twitter: https://twitter.com/spacemetaverse
Space: https://space-metaverse.com/
Instagram: https://www.instagram.com/spacemetaverse/
