What did Lin Junjie buy in Metaverse?

Being a neighbor with the famous singer Lin Junjie is difficult in reality, but much easier in the meta universe.

On November 23, Lin Junjie showed on Twitter the three virtual plots he had purchased, which cost about 123,000 US dollars in total. These three pieces of land are not located in a city in Singapore or China, but are located in the virtual platform Decentraland (hereinafter referred to as “DCL”). DCL was established in 2017 and is the first meta universe based on blockchain and cryptocurrency. The community has issued a total of 90,000 pieces of land and created communities such as City A, Dragon City, and Dragon Kingdom.

There are many people who have the same idea as JJ Lin. According to statistics from the data platform DappRadar, in the week of November 22, the total number of virtual land transactions on the virtual platforms TheSandbox, DCL, CryptoVoxels and SomniumSpace reached more than 6,000, with a total transaction value of 105.8 million US dollars. The record of “King of the Land” is constantly being refreshed.

On November 23, on the virtual platform DCL, a virtual land with a total area of ​​approximately 565.8 square meters was sold for US$2.43 million, or approximately RMB 15.52 million.

The record was broken in less than a week. On November 30th, a piece of virtual land on the virtual platform TheSandbox set a new record for Metaverse land transactions for US$4.3 million (approximately RMB 27.39 million).

Seeing this, you might say that I know every word and every letter above, but I don’t know what they mean when combined together. Or, you know that Junjie Lin bought a virtual asset in the virtual world, but you may ask, what is the essential difference between this and the Luban No. 7 skin when I play King of Glory?

What did JJ Lin buy?

Before understanding Lin Junjie’s purchase, we must first understand the decentralized market he is participating in.

Now everyone knows that blockchain technology is a prerequisite for decentralized organizations. The most common application before this was Bitcoin. In addition to Bitcoin, Ethereum provides more blockchain application scenarios through smart contract technology. For example, the crypto cat in the 2017 fire can be simply understood as a scenario-based application based on Ethereum, which is visualized from a coin to a cat. The virtual land bought by Junjie Lin is equivalent to a scene-based application based on Ethereum, visualized as a piece of land.

Why are the land and houses in the virtual world valuable? It is based on a common contract. To make a simple analogy, a community delineates an area. How many houses can be built in the area is negotiated and agreed by all residents, and no one can change it without authorization. As more and more people enter this area and want these lands, the price of each piece of land will rise accordingly.

Therefore, the difference between the skin of these virtual assets and the glory of the king is whether it is decentralized. Behind the glory of the king is Tencent, and behind the virtual assets is not an organization, but a community based on a common contract.

Skins or equipment in games such as King of Glory are stored on the developer’s server. If the game is suspended and the data is deleted, all the assets of the individual player in the game will disappear. Regardless of whether in DCL or TheSandbox, it is a decentralized virtual platform developed based on Ethereum. Assets such as land are stored on each server of the blockchain and no one can modify it.

In these virtual platforms, players can use governance tokens to purchase land, then develop the land according to their own needs, and create their own exclusive content and applications, such as advertising and holding events. Land is unique in each platform and is designed as a transferable NFT (Non-FungibleToken) asset.

MANA is an encrypted token issued by DCL. The early MANA price was only a few cents of RMB. With more and more investors flooding into the community, the price of tokens continues to rise while the amount and area of ​​land remain unchanged. As of press time, the price of MANA is approximately US$4.3 (approximately 27 yuan).

In DCL, except for the square and road where it was created, the land in other spaces can be freely bought, sold and developed by users. Enter DCL, click on a plot, you can see the real-time price and auction time of the plot. The price difference of land is similar to the logic of reality. The closer it is to the creation place, the corner display or the place with convenient transportation, the more expensive the land.

At present, the high-priced land in Metaverse is mostly used for commercial purposes such as information display, retail, and social networking.

The buyer who bought a plot of USD 2.43 million in DCL was MetaverseGroup, a subsidiary of the Tokens.com digital asset investment group.

Metaverse Group’s business includes real estate acquisition, development, leasing, real estate investment trust management, Metaverse regional development, Metaverse Capital Market and other related services, that is, commercial real estate developers in Metaverse.

The company said that the site will be used as a digital fashion industry to host digital clothing shows and sell virtual clothing.

The presence of consumer and retail companies such as Adidas in reality may better illustrate the value of these lands. Adidas allocated a piece of land in TheSandbox. In addition, on November 25, Adidas Originals, a subsidiary of Adidas, announced on Twitter that it had reached a cooperation with Coinbase, a digital asset trading platform.

A player who has been involved in the blockchain field for many years told the Economic Observer that the current increase in land and housing prices in all Metaverses comes from the value brought by the influx of more investors. He said directly, “I just need someone to take the order.”

However, these meta-universes are currently independent of each other. That is to say, your land and house assets in DCL cannot use TheSandbox furniture, just like the skin you bought in the glory of the king, you can’t use it in League of Legends, unless, Most people use a certain meta-universe platform, or if these independent universes can communicate with each other, then the so-called meta-universe land and real estate will have continuous value.

Rainbow universe that is not yet meta universe

With the fiery concept of meta universe, more and more meta universes have appeared. In addition to foreign platforms such as DCL and TheSandbox, Chinese Internet companies have also launched their own meta universe.

On October 28th, Honnverse, developed by Tianxia Show, started its internal beta. Users need to make an appointment to buy virtual real estate, and they can enter the game in advance if they get the number, create a 3D virtual image of themselves or others, and have their own 3D virtual residence It is renovated. At the same time, use avatars in virtual scenes to start social interaction, games, and life.

According to the official introduction, Rainbow Universe currently opens the planet P-lanet (Piran Reid), which is divided into the Universe Mountains, Arcadia Continent, and Andres Sea, and each area has its own residential area. . Different residential areas have different room types. There are 13 room types on P-lanet, with a total circulation of 350,000 units. Houses above Grade B are equipped with binding land deeds. According to the room type and topography, the virtual real estate is gradually reduced from the five levels of SS, S, A, B, and C. Before the public test, only part of the higher-level virtual real estate was released.

After the player enters the house, he can decorate the floor and walls of the house. Frames, TVs, speakers and other furniture can be customized to upload audio, video or pictures. Digital collections can also be uploaded and placed in the furniture, and can interact with all furniture with interactive buttons. After the decoration is completed, more interaction will be promoted. Rainbow Universe also stated that it will develop more houses and public scenes.

In the public chat room during the test phase, many players who didn’t know what to do got the answer that they can decorate their houses or buy decorations, or they can go to other people’s houses. In those well-decorated houses, homeowners usually upload short videos of themselves on TVs and other furniture to promote real-life clothing and other brands.

On November 18, Tianxia Show Chairman Li Meng issued an open letter stating that Rainbow Universe is a 3D virtual social product based on blockchain technology. “This product is mainly based on the 3D virtual planet (P-LANET) in the Z era. Build virtual identities, avatars, virtual spaces, virtual props, and virtual social interactions for users, and will unite global social celebrities to create an immersive pan-entertainment virtual life community for users, and provide users with application scenarios such as use and communication based on NFT assets” .

Li Meng also said: “I believe that soon we will be able to build a “building” in the Rainbow Universe. All employees of the Universe will work together in the virtual world of the Rainbow Universe for one day. There can be more companies and institutions, which is also in line with China’s future low-carbon environmental protection theme.”

On the second day after the open letter, Tianxia Show received regulatory warnings from the Shanghai Stock Exchange, including Tianxia Show’s suspicion of using non-statutory information disclosure channels to release important information related to the company’s operations and other important information, which may mislead investors; in addition, Tianxia Show’s owner The business does not involve the content mentioned in the open letter.

On the evening of November 19, Tianxia Show issued a clarification announcement, stating that Rainbow Universe is only a test phase product that realizes social networking based on 3D scenes. It has not yet connected to the hardware technology mentioned in the open letter, and the company “has not participated in AR or VR. , MR and related hardware technology research and development, and no related hardware technology reserves or patents”.

It seems that the current Rainbow Universe is not much different from games such as “Animal Crossing” and “The Sims”.

Not all meta-universes are based on blockchain

The popularity of the meta-universe concept is also due to the entry of large companies.

At the end of October, Facebook CEO Zuckerberg announced that social media facebook was renamed Metaverse.

Baidu announced that it will hold the CreateAI Developer Conference in Meta Universe at the end of 2021, and has applied for a trademark for the term “Meta App” in advance. At the beginning of November, Baidu launched a social app called “Xiyang”, where users can interact with friends in the virtual world by creating virtual identities.

In April and June of 2021, ByteDance invested in Metaverse Concept Company “Code Qiankun” and bought VR startup Pico and AR optical chip company Guangzhou Semiconductor.

At the Aliyunqi Conference 2021, Dharma Academy announced the establishment of an operating system laboratory and an XR laboratory. The two major laboratories will study the operating system and the new generation of mobile computing platforms under the next-generation cloud-network-end convergence architecture.

On December 2, while NetEase Cloud Music was listed in Hong Kong, it also held the world’s first “Meta Universe” listing ceremony through NetEase Fuxi’s immersive event system “Yaotai”. At this ceremony, three founders “Ding Lei” appeared, including Ding Lei who knocked the gong in the offline ceremony, and two other AI virtual people “Ding Lei”, namely Ding Lei, 29 years old in 2000, and 50 years old in 2021. Ding Lei.

In addition to Internet companies, physical commercial real estate has also tried to combine virtual and real experiences.

Chengdu IFS uses AR navigation to open the “ARgo enhanced real-world navigation” from the underground parking lot to any floor in the mall, scan the surrounding environment with a mobile phone, identify and locate through AI, and combine it with marketing activities such as AR gift certificates and new product recommendations. Meta universe”.

The official announcement of the Datang Everlasting City in Xi’an will create the world’s first meta-universe project “Datang Kaiyuan” based on the historical and cultural background of the Tang Dynasty. Through digital technology, traditional Chinese buildings will be vividly restored and presented, realizing the interaction between the virtual and the real world. Through online and offline linkages, NFT, Meta Universe, etc. create a large number of new consumption scenarios and drive the offline real economy.

Shenzhen Longgang Wanda Plaza also announced that it will apply BIM and 3D point cloud scanning technology to build a digital twin of Wanda Plaza, forming a “parallel world” corresponding to the physical square and creating a digital virtual reality experience.

The above technologies that have nothing to do with the blockchain are also called meta-universes.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/what-did-lin-junjie-buy-in-metaverse/
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