Crypto News

NFT Metaverse Pastel World Pushing Art and Tech Boundaries Despite Bear Market

Web3 venture Krew Studios has released further details about its much-hyped NFT avatar project Pastel World, both in a lengthy Twitter thread and freshly-updated litepaper. The startup, which was behind the smash-hit NFT collection MASKS from actor/artist Jordi Mollà, describes Pastel World as the “most ambitious project released by the Krew Universe to date,” one whose multi-chain model will “pave the way for future collaborations” with emerging crypto communities. Manga Meets Metaverse Pastel World is the brainchild of singer-songwriter JVCKJ, formerly one half of multi-platinum pop pair Jack & Jack, and London-based illustrator Uriah Barrett-Thomas. An NFT/PFP collection in the mould of CryptoPunks, but with more utility, the series features authentic manga art and follows a fantastical storyline which ostensibly doubles as the project’s roadmap. In a nutshell, each tokenized avatar is a “Prophet” journeying through space and time equipped only with a magical backpack, an enchanted item that must be nurtured to ensure survival in Pastel World. In due course, the metadata for each NFT will refresh, causing a gem to appear on Prophets’ backpacks – a precious stone that determines which ‘zone’ each character must inhabit. Moreover, each customizable element of the NFTs will play a part in the continued narrative. To quote the aforementioned tweet thread, “The creativity that infuses the lore filters down to the planetary environment, divided into painstakingly mapped zones such as Cloud9, Fairy Kingdom, and The Grounded where the undead roam.” Although Pastel World came about as a result of the aforementioned artistic collaboration, Krew Studios has been heavily involved in the creative and technical process via its web3 launch studio, Krew Labs. The company’s eponymous creative agency will also handle marketing and community management going forward. “Anyone can create 10,000 PFPs and slap a theme on top, but it takes skill to craft an entire universe around an NFT collection,” says Rambino, Krew Studios’ co-founder. “One of the things that impressed us most about Pastel World was the lore.” In all, 8,800 Pastel World NFTs have been minted on Ethereum and the team intends to pursue various integrations with other web3 communities, including those that have been incubated by the platform’s launchpad, Krew Universe. With the upcoming introduction of special traits and accessories concealed in Prophets’ backpacks, and the evolution of the planet’s various zones, it is thought that Pastel World will transition into a full-blown metaverse. Staying Bullish in a Bear Market Like several other projects in the web3 space, Krew Studios is at pains to stress that it’s business as usual despite bearish market sentiment. The recent downturn has seen a sharp decline in NFT floor prices, with the industry still struggling to shrug off the reputational damage it suffered as a result of Terra’s spectacular crash. In fairness, Krew’s optimism for the success of Pastel World isn’t delusory. As well as leveraging the talent and profile of both JVCKJ and Barrett-Thomas, the company is banking on its considerable production experience: prior to switching its attention to web3 in 2021, Krew Studios had worked on projects for clients such as Universal Music, Boohoo and Epic Records. Over the past year, the studio has expanded its team to ensure it possesses the necessary experience to make a mark in web3. In-house creatives include experts in blockchain, digital art and gaming, while an experienced advisory team has been brought on board to help guide promising NFT artists and brands determined to make a splash in the crypto world. In the near term, Krew’s goal with Pastel World is to nurture a passionate and engaged community of token-holders and traders, the better to cement the project’s status in the growing metaverse economy. The firm is also building infrastructure for upcoming web3 ventures and creating a private club for art collectors, Mask World, featuring curated NFTs.  

Bitcoin

Upcoming Metakicks NFTs by Sneakmart Offer A 10% Chance Of Winning Physical Limited-Edition Sneakers

Both sneakers and NFTs have turned into multi-billion dollar industries in recent years. The sneaker resale market was valued at $6 billion in 2019, although it is much larger today and closer to the valuation of NFTs. That overlap creates new opportunities for players like Sneakmart and their Metakicks collection. Overlap Between Sneakers And NFTs […]

Crypto News

Pay to Lose or Play and Earn?

The gaming industry showed great resilience during the 2020-21 pandemic period, adding more than 300 million new users and $180 billion in revenue. Gaming is considered the hottest sector globally, and it is expected to reach a valuation of $320 billion by 2026-27. Thanks to the digitization of communities and the increase in mobile penetration worldwide, all age groups have a massive interest in gaming. It has become the ultimate form of entertainment and engagement on the internet. Over the years, gaming was treated as a leisure activity with zero financial upside. Players are the ones who usually pay thousands of dollars for in-game items and other premium gaming products. The return on that investment is not quantifiable outside of social status in digital communities. Well, that is now slowly changing with the emergence of play-to-earn gaming. By leveraging the underlying blockchain technology of NFTs and the metaverse, P2E games are providing skilled players a new avenue of monetization. Unlike the corporate-controlled Web 2.0 games, blockchain gaming promotes player-owned economies, giving power back to the players. How Play-to-Earn is Changing the Gaming Dynamic In the traditional gaming world, players spend countless hours honing their skills and advancing to higher levels of competition. In return, they don’t get any kind of compensation or reward. One hundred percent of the revenue generated is distributed among a few developers and game publishers. The value created by players is never on display. By transitioning to the blockchain world, the long-standing economic structure and value distribution change forever. In a play-to-earn game, players have full control over their in-game assets, backed by true ownership of NFTs. They can be treated as any other digital collectible with a secondary market. So players can sell them at a marketplace and gain value in tokens or their desired currency. Furthermore, play-to-earn games are community-driven, meaning the roadmap and game mechanics evolve based on community interactions and suggestions. In traditional gaming, it is the complete opposite. Few centralized entities hold all the power to decide the game’s future. In fact, they can even ban players from using third-party marketplaces to exchange in-game items. The play-to-earn movement is also not limited to only gaming activities. Within the metaverse, one can create many revenue-generating opportunities like renting real-estate or licensing games. According to Grayscale’s metaverse report, the annual revenue generated from metaverses could exceed $1 trillion in the foreseeable future. So the digital economies created in the crypto landscape via play-to-earn are better alternatives to traditional gaming. Comparing Pay-to-Play vs Play-to-Earn One type of game is making big moves when it comes to gaming and leveling up from pay-to-play and play-to-earn. Penguin Karts translates the mechanics of typical pay-to-play kart racing games to Web 3, transitioning to play-to-earn and allowing players to benefit in the physical world. Penguin Karts is a play-to-earn racing game with a P2P battle environment, staking features, and online gambling platform. To ensure users get utility and rewards from the NFTs, they can be staked and payouts come in the form of Fantom, on which the game is built. Players can earn unique kart skins, accessories for their Penguins and other rare and super rare swag for a personalized racing experience. Traditional racing games allow players to earn coins, and unlock different parts in terms of the in-game economy, Penguin Karts offers so much more. Players can build and host their own tournaments and choose to hold private events or promote them publicly, rental fees are paid in the PGK token and a % is returned to the treasury for continued expansion of the ecosystem. A trip to the races, even when in the metaverse, would not be complete without a sportsbook, so spectators will be delighted to know they can place bets on their favorite drivers. Creating NFTs that have real utility is very important to the Penguin Karts team, the Genesis Penguin 2D editions will provide early access to the game in beta, and will be able to be staked to earn loot. When launched, the 3D NFTs can be used as custom avatars in the game and also staked. The goal is to provide value to the gamers, investors and inside the game but also with true value outside the game in NFT marketplaces such as OpenSea. Is Play-to-earn the Biggest Driver for Crypto Adoption? It is evident how much better an economic model blockchain gaming has created than traditional gaming. When player-owned economies show signs of sustainability, more gamers will likely transition to the web 3 world. As NFTs and gaming are more compelling than DeFi, we may see a much faster adoption rate with P2E games than any other crypto market sector.

Crypto News

How RFOX Is Building the Future of VRR-Powered Retail

Virtual reality (VR) is a computer-generated, three-dimensional depiction of a digital environment at its most basic level. The beauty of VR is that it may be any environment or simulation we want it to be, and we can be “in” it, engaging in a variety of ways, having multisensory experiences, and even doing things that defy logic. Thanks to the creation of the metaverse, virtual reality is going to become much more than what we know it to be now,. VR’s future is bright, but before we get there, it’s vital to understand how it came to be and why it’s become such a major concern in recent years. The metaverse is a shared virtual environment that people may enter over the Internet and is rendered lifelike via virtual reality and augmented reality. Most people would rightfully associate the metaverse with the various gaming worlds they enjoy playing in, and they would be correct – but with blockchain powering it, it can be so much more than that. For example, in Decentraland, we can purchase and sell digital real estate and trade it for real money while exploring and participating in its virtual world, or in The Sandbox, we may play, construct, own, and monetize our virtual experience. RFOX VALT – RFOX’s very own metaverse – is another excellent and clear example of a metaverse maximizing the possibilities of virtual reality. It is a self-contained virtual environment with its own tokenomics, allowing users to use RFOX and VFOX tokens within the ecosystem. It’s also having public land sales, which are usually snatched up by big-name businesses who want to turn the property into their own shop where customers like us can check out, buy, and have their things delivered for real. The RFOX VALT metaverse also intends to feature an NFT exhibit, where we can see the trendiest NFTs on display in spectacular 3D models, as well as an events section, where we can attend concerts of our favorite singers with our friends no matter where we are or without leaving our house. RFOX is Planning Livestreams, Metaverse, and More for the E-commerce Space RFOX has set out to be a major player in the next generation of e-commerce, based on the breakthroughs of live streaming and the metaverse, as a firm that is always innovating through cutting-edge technology. RFOX has been developing an e-commerce streaming app, which will be bolstered by the launch of RFOX Media’s future RFOX TV streaming platform. This e-commerce program will connect to the RFOX VALT metaverse, allowing online sellers to reach a larger audience in the virtual world. Cashback and affiliate programs, as well as a 5% platform fee and money from KOLs, will all contribute to the app’s financial health and future growth. A tract of metaverse real estate in The Sandbox sold for a whopping $4.3 million last November 2021, while another person paid $450,000 for a piece of metaverse prime land next to Snoop Dogg. During the initial property sale in RFOX’s very own RFOX VALT, one of the Callinova businesses sold for 2 million RFOX tokens (worth $177,000 at the time of writing). It’s difficult to ignore the growing demand for metaverse land, especially when people are prepared to pay millions of dollars for a piece of virtual real estate. Virtual reality technology has advanced dramatically in recent years, making it more accessible to the public. Graphics are becoming more realistic, virtual reality headsets are becoming smaller and more affordable to the general public, new virtual reality accessories are being developed every day, and possibilities that have never been explored before are constantly being developed. The barrier between the actual world and the virtual world is likely to become increasingly blurred as alternate worlds such as virtual reality, augmented reality, and extended reality (XR) become more complex and integrated over time. RFOX Metaverse Key Elements Cyberpunk 2077, a video game, takes a unique approach to portray the future of virtual reality by experimenting with the concept of braindance. Putting dystopian visions aside (happily), VR technology is now used in a variety of businesses to improve people’s lives. In addition to the metaverse, virtual reality is particularly useful in situations where sensory experience is required but is unavailable, impractical, harmful, or even impossible to obtain physically. Metaverse lands, like physical properties, can be used for a variety of purposes, which is a very appealing feature if you plan on starting your own metaverse business, being a landlord and leasing your properties to tenants, or even opening your own metaverse showroom to display your NFT collections. For example, RFOX VALT is separated into four sections, each with a different theme. Each quarter consists of 25 shops that are auctioned off to the general population. If you were one of the happy bidders who won a shop in RFOX VALT, you can either make it your own or lease it to someone else. Other metaverse companies also offer different ways owners can use their metaverse real estate. Sports giant Nike, for example, unveiled Nikeland on metaverse platform Roblox, an entire world designed for Nike fans to connect, create, compete, and share experiences or even shop for Nike gears.