The Metaverse has been praised as a goldmine for investors, but it seems that its shelf life has expired.

Once considered the apex of internet development, the Metaverse primarily exists in white papers. Most associated Metaverse products that have been released feature rudimentary graphics and lackluster user experiences. Upon entering these virtual realms, users are left with little to do except meander without purpose. 

Investors are becoming increasingly disenchanted with this once-promising industry. Meta's first-quarter financial report revealed that the Metaverse's operating loss amounted to $3.992 billion, which accounted for 14% of Meta's total revenue. This figure is nearly $1 billion higher than the loss reported during the same period last year. 

So, what can the Metaverse truly provide? Rather than repeating catchphrases such as "virtual and real symbiosis," "connecting everything," and "creating a new lifestyle," it would be wiser to concentrate on crafting captivating experiences for users. The Metaverse platform MixVerse has chosen to prioritize enriching the gameplay and applications within the Metaverse, creating specific activity scenarios for users to enjoy. It seems that the key to unlocking the Metaverse's potential may lie in offering users tangible experiences and value, rather than relying solely on lofty promises and grand visions.  

MixVerse: Multi-Device Compatible Metaverse

MixVerse is a Singapore-based VR gaming metaverse platform with a rich history in the field of VR games since 2016. The team's core members have developed the highly successful "Fancy Skiing" series, which holds the top spot in the Steam VR sports category for downloads.

A key feature of the MixVerse project is the seamless integration of multiple devices, such as VR, AR, and H5, enabling efficient multi-device metaverse data communication. Users can effortlessly log into the multi-device metaverse from various devices.

The VR Metaverse currently enjoys strong consensus among players in this space, attracting significant attention from numerous technology giants. However, one challenge lies in the fact that virtual reality devices like VR and AR have yet to gain widespread popularity. Users still face considerable costs when entering the metaverse. For instance, the most affordable Meta Quest 2 is priced at nearly 3,000 RMB after discounts, while the flagship Quest Pro costs as much as 10,000 RMB.

To encourage more users to explore the Metaverse, MixVerse offers an H5 option, allowing users to access the metaverse on their mobile phones. This innovative approach aims to reduce barriers to entry and make the metaverse experience more accessible to a broader audience.

The MixVerse project has attracted investment from Stratified Capital, a Singapore-based blockchain venture capital firm. Furthermore, MixVerse has established collaborations with leading projects across various Web3 sectors, including metaverse ecosystem Hellven, Launchpad DAO Maker, zkSync ecology, decentralized cloud computing blockchain aelf, developer community Devpost, and multi-chain encryption network Octopus Network, among others.

Additionally, MixVerse has founded the "Metaverse Builder Alliance," inviting VR applications, games, functions, and IP brands from both Web2 and Web3 worlds to collaboratively construct the metaverse ecosystem. MixVerse operates as an open content platform, with game and app content supplied by both official and third-party content providers. Besides its in-house development, third-party content providers within the "Metaverse Builder Alliance" play a vital role in the MixVerse ecosystem.

Currently, the alliance includes the VR game development team Glass Kettle Games with their metaverse exploration game "A Shopping Trip to Eklan Tor," British independent game studio Secret Sorcery and their real-time strategy game "Tethered," as well as Tencent's game development studio Youth Dew, which has introduced mobile games "Cooking Dimension" and "Vivienne & Knight" to the "Metaverse Builder Alliance."

The Central Metaverse World: MixVerse World

The MixVerse ecosystem can be divided into two main components: the central Metaverse world, known as MixVerse World, and the Metaverse open platform, called MixSteam.

MixVerse World is a Metaverse realm that combines VR and H5 technologies. In this virtual home, players can work, live, study, socialize, and enjoy what MixVerse excels at—games.

MixVerse World is composed of States, Towns, and Lands, which serve as its foundational elements. Utilizing land as the building blocks, MixVerse World features nine independent countries, each boasting a unique climate and style.

At present, MixVerse has launched its first State—Edenia (Free Continent). Edenia is home to a sprawling main city, numerous themed landmarks, and an ever-growing array of game applications that continue to settle in the virtual landscape.

MixVerse World Economic Model: Dual Token System and Diverse NFTs

MixVerse employs a dual-token model and leverages a variety of NFTs to establish a sustainable economic model, enhancing the stability of the gaming ecosystem.

(1) Dual Token Model

The MixVerse platform features two tokens: the primary currency MIX and the secondary currency CHAOS. MIX is a deflationary game governance token, while CHAOS serves as an in-game economic token with unlimited circulation. The majority of outputs in MixVerse are based on CHAOS, with MIX playing a supplementary role.

The total circulation of MIX is capped at 800,000,000. The project team aims to complete the first round of MIX issuance within three years, with 50% allocated for the MixVerse World reward distribution pool.

MIX token generation primarily originates from three sources: land pledging, regular reward distribution, and organizational partnership distribution. MIX acquired through land pledging is subject to a lock-up period and can only be unlocked upon meeting certain conditions such as time, tasks, and items. Players who complete land development tasks receive regular MIX rewards, while partner communities and content providers also receive periodic MIX distributions.

As a platform governance token, MIX grants players the ability to participate in metaverse governance and decision-making, including project oversight, community building, and partner project selection. Players can use MIX tokens to engage in comprehensive governance of MixVerse World, obtain project revenue shares, and vote on the project's developmental direction. They can also create autonomous communities, participate in community construction, governance, and election activities. Furthermore, MIX tokens enable players to vote on which partner projects, communities, or game applications can join the MixVerse ecosystem.

CHAOS is a circulating token within MixVerse World, and its supply will continuously increase according to user activity. The platform sets the prices for commodity transactions or auctions based on the total amount of CHAOS tokens circulating throughout the entire Metaverse.

Players can earn CHAOS rewards through in-game activities and use CHAOS tokens to purchase game items, materials, or NFTs.

(2) Diverse NFTs

The MixVerse Metaverse primarily features two types of NFTs: Land and Passcard. Additionally, NFTs such as materials, buildings, and props play a significant role in the metaverse ecosystem. Users can facilitate the production and circulation of platform tokens by trading these NFTs.

Land is a fundamental element in the metaverse world, serving as a carrier for all metaverse activities, housing construction, community governance, and mineral resources on the platform.

In April, MixVerse conducted an INO (Initial NFT Offering) for Land NFTs on the NFT AMM trading platform LinoSwap. A total of 1,500 shares were issued at an initial price of 0.03e. Lands are categorized into five rarity levels—SSS, SS, S, A, and B—and include 12 types such as plains, snow, forests, deserts, islands, and stars.

Passcard serves as proof of MixVerse benefits. By staking Passcards, players can access advantages like mining acceleration, game privileges, and reward sharing. Simultaneously, players can obtain MIX tokens by staking Passcards.

The first round of Passcard, Mixpass, has sold out. Currently, the floor price of Mixpass on the NFT trading platform OpenSea is 0.025 ETH, with 575 owners.

What You Can Do In The MixVerse World

MixVerse World features a primary game storyline and offers various activities for players to engage in. By participating in these activities, players can earn rewards such as in-game items, NFTs, CHAOS tokens, and materials. Players can also improve their experience points, levels, and switch careers, as well as participate in community governance. Additionally, players can develop their land and construct virtual homes. The platform's core gameplay comprises six aspects: survival, personal growth, activities, home building, comprehensive management, and competitive games. Let's delve deeper into each aspect:

In MixVerse World, each player has a limited supply of SP (Skill Points), which is consumed by performing actions. When a player's SP is depleted, they will lose levels and property.

To survive in the Metaverse, players must participate in various activities and complete game tasks to earn SP.

Players can freely engage in a wide range of activities, including games, work, entertainment, lifestyle, learning, socializing, finance, business, and transactions. Through these activities, players can earn rewards such as prop NFTs and CHAOS tokens.

During events, players can earn rewards and accumulate Exp (Experience) to enhance their personal level. When a player's experience value and level reach specific milestones, they can switch careers and choose from five directions: social, engineering, academic, public, and economic. After changing careers, players can continue to upgrade their career level, unlock relevant career functions, and obtain top professional titles through ranking, governance, and elections. Top professionals enjoy the highest management authority within the community.

Players who own land can construct and manage their virtual homes in the Metaverse world. By staking the platform governance token MIX, players can expand their land area. They can also use CHAOS tokens and prop NFTs to add buildings, decorations, skins, and functional facilities to their homes.

MixVerse World is a comprehensive governance platform. In addition to the Metaverse's self-governance, all self-built communities, partner projects, and game applications can achieve comprehensive governance through the platform governance token MIX.

In MixVerse World, players can purchase PK (Player Killing) items, select PK games, and engage in PK activities with other players of the same level to wager MIX tokens. They can also participate in group PK events with other organizations to gain more economic benefits and governance rights.

In addition to the main player growth and home building storyline with Land as the carrier, MixVerse World also offers a series of sub-line games. These include the officially developed main city Treasure Hunting Interactive, MixClub, MixSkiing, Hide and Seek, fishing, and other game applications, all rendered through H5/VR dual-end technology.

MixClub is a theme party and concert venue located in the main city of Edenia. Various projects can host their own theme parties in the Metaverse, such as Boring Ape Party, World Cup Party, and more. PK games can also be played between different projects. To create a more dynamic electronic music scene, the platform has invited the electronic music label Not That Deep to establish a presence in MixClub.

To recap, in MixVerse World, Passcard and Land are the core elements of the project, and the diversified NFTs enrich the GameFi gameplay in the metaverse world. The player's SP (stamina value) and Exp (experience value) are crucial indicators for metaverse activities and are used to enhance player engagement and participation. The dual-token model of MIX (governance token) and CHAOS (circulation token) forms the metaverse's economic system, creating a closed-loop double Token circulation. The combination of mainline development and construction games and secondary line independent mini-games caters to the gaming experience needs of players at different levels.

Epilogue

While 2022 marks the year the metaverse loses its enchantment, it does not mean the metaverse itself lacks value. The emergence of each new technology goes through five stages: birth, bubble, trough, recovery, and maturity. The Metaverse may currently be at a low point, but as emerging technologies develop and infrastructure construction and popularization advance, the Metaverse will likely experience a revival.

Using the VR metaverse as an entry point, MixVerse has created a relatively complete experience space for players among the semi-finished and defective metaverse products. MixVerse's goal is to complete the construction of the ultimate metaverse form, which serves as an extension of players' lives in the physical world. The timeframe to achieve this goal remains uncertain, but it is clear that this will be a long and challenging journey.