Metaverse world provides a place where you can temporarily escape a traditional society. All you need is some ingenuity, passion for creativity and, of course, your first tokens to participate in the token economy and Play-to-Earn universe.
What is token economy?
Token economics or tokenomics is becoming increasingly popular in the metaverse world as a way to establish a reward or demerit system among users of non-fungible token (NFT) blockchain gaming platforms. It replicates every way people transact or use traditional monetary in the real world, including governance. It promotes the liquidity of NFT assets with greater benefit than the stock market assets due to its lower transaction costs and market stability. Right now, tokenomics is heading towards the mainstream public as cryptocurrency gains traction in decentralized finance. Albeit, there is no other better time than now to gain an advantage in the field of tokenomics before everyone else. Do you want to know how? Continue reading.
People in the real-world setting have many hindrances for success that include lack of formal schooling, age, proximity to urban areas, health conditions, citizenship, and many others.
But the metaverse world has somehow flattened the playing field for all. It allows you to tread the path of success regardless if you are young or old, rich or poor, with formal or informal education, you name it.
Metaverse world provides a place where you can temporarily escape a traditional society that is so engrossed in being on a top few to govern the more vulnerable and less privileged ones. All you need is some ingenuity, passion for creativity and, of course, your first tokens to participate in the token economy and Play-to-Earn.
Your Earth DAO is one of the metaverse’s properties with its own token economy. It was created to encourage a democratic virtual community — where everyone has a say in topics that would strengthen the platform in the long run — something that no other metaverse platform offers. It also encourages decentralized finance, in which people maintain control over their accounts and investments without being taxed or paid fees for each transaction.
Your Earth DAO is built on the Acent blockchain technology, which has its own currency for things like voting on the platform’s governance structure through ACE as an in-game cash or token. ACE can be exchanged into USDT in order to monetize it.
Investing in Your Earth DAO’s metaverse property would therefore mean passive income while you enjoy the different features of this gaming platform with families and friends.
Below are some tips to grow in this token economy.
Knowing the token economy of Your Earth DAO’s virtual lots
Each square of land in Your Earth DAO belongs to various ground levels or ‘G-level’. Each G-level area classification corresponds to a certain ACE multiplier or bonus. Among these are as follows:
● G7-G9 areas –upgraded level of virtual lands from G6′ successful land development;
● G6 areas — most expensive virtual lands with landmarks located in highly-dense or populated areas;
● G5-G3 areas — virtual lands in lower-density areas in terms of infrastructure and population. They have lower market value than G6 areas;
● G2 areas — virtual lands with neither standing infrastructure nor existing population. Examples are lands in the middle of the forest with very low market value; and
● G1 areas — virtual spaces with the lowest market value during the initial opening of the game.
Your Earth DAO will release different NFT plans with different G-level coverage to suit the preference of the users. Metaverse players or participants may avail of these plans depending on the amount of ACE they have. The general rule though is that the higher the G-level, the higher the market value of the virtual lots and the more ACE they could earn.
The players must also bear in mind that the market value of the token and the virtual lot may go bullish or bearish depending on the level of the utility and circulation of the tokens.
This also means that depending on the level of participation and development of their virtual lots, the player’s badge or plan may progress or regress.
Know more about how to invest in a metaverse property.
How to improve the token economy in your virtual land?
Increase the foot traffic
To increase the market worth of your virtual land in the Your Earth DAO metaverse, you’ll need a lot of foot traffic. When someone passes or visits any virtual territory, Your Earth DAO uses cutting-edge architecture and algorithms to calculate the overall quantity of foot traffic.
The good news is that each foot traffic has a set of ACE points associated with it. As a result, your goal is to maintain as much high and continuous foot traffic as possible in order to successfully accumulate tokens passively.
Virtual lands in higher G-level areas are expected to have higher foot traffic than any other location because of the landmarks and the popularity of the location. Conversely, virtual parcels in lower G-level locations have less foot traffic due to proximity and lack of activity. In this case, creativity and ingenuity are required. The virtual landowner may choose to invest in lower G-level locations, but shell out a few more tokens in developing the area so that it could attract and encourage people to visit.
In this regard, you might have to invite as many friends and families as you have on social media to visit your virtual lots.
Develop your metaverse lands
When purchasing a square of land at any level, it is critical to incorporate additional features from the existing one that you purchased. Purchasing G9 lands will offer you an advantage over the others because it is easier to grow its market value and mine more ACE points than the other locations. But leaving it as it is will essentially diminish its value in the long term.
Virtual lands purchased in lower G locations but with consistent developments and foot traffic may be effectively upgraded. Whereas virtual lands purchased in higher G areas with no activity or foot traffic may be relegated to lesser badges.
The developments could include building infrastructure, an NFT store, or even virtual game applications. You could also offer things like online training programs that are only available to users who visit your metaverse lot. Virtual landowners may even host virtual events in their metaverse, such as virtual reality (VR) games or virtual concerts.
Trade NFT accessories
Virtual landowners may develop, buy, and exchange digital goods like avatars, NFT clothes, digital art, and NFT music. They may also use social media to link or broadcast their NFT products and virtual lots so people would know how they can visit and buy NFTs.
In the future, e-commerce will also be integrated into Your Earth DAO to have the utmost experience of the token economy.
Can I participate in Your Earth DAO tokenomics without buying land?
In the future people can sell or trade-in the metaverse without owning land so long as they have ACE.
It is envisioned that Your Earth DAO metaverse would bring real jobs to real people by creating goods and services in this virtual land.
These could be trading of stuff needed to create buildings, such as virtual bricks, windows, doors, furniture, cars, games developed in Unreal Engine, and other similar earth assets, you name it.
Final thoughts
Content is one of the most important factors in the token economy’s success in the metaverse world. The more reasons there are for individuals to visit a metaverse property, the more likely it is to be successful. Purchasing a costly piece of metaverse property without making any attempt to develop it will effectively depreciate over time. On the other hand, if you purchase a less expensive virtual lot with fascinating trends and content, it has the potential to become a valuable NFT lot.
Finally, success in tokenomics demands the same level of hard work, diligence, and commitment as in the real world. The main difference is that there is less pressure in the metaverse than in the real world, and it is a place where you can always fail and try again while still having fun.
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