3.2 In-World Economy

The Microverse will facilitate the creation of a robust economy whereby users would have autonomy over their digital assets. Microtransactions will be settled with the platform’s native MVP tokens, which can then be exchanged for other cryptocurrencies, or cashed out into fiat currencies. Microverse is for the community to build on. For users that have invested their time, attention and money into the world, their efforts will be rewarded as the world develops further into a global phenomenon.

- Tokenization of Digital Assets

All digital avatars and NFTs within the Microverse World will be represented by the BEP-721 token standard. It is an extension of the Ethereum’s ERC-721 standard, and can allow users to tokenize the ownership of their avatars with a unique identifier. This also means that unique products such as names, avatars, NFTs and PLOTs of land can all be sold within the secondary marketplace. For example, users can claim a verified name using MVP tokens, which can then be sold to another user who wishes to use that name. Companies that are looking to create a presence within the Microverse may also wish to purchase their name rights from a user, much like how the current internet domains operate.

- Marketing Unique Experiences and Interactions

Landowners in the Microverse World are free to build up their land, and almost every aspect within can be monetized. In the case of an art gallery, they can choose to charge a nominal fee for entrance, or charge for services provided within their PLOT. For example, landowners may charge companies for the opportunity to advertise their products on their land.

Content creators will also have the option to charge for games that they have developed, or enable microtransactions for in-game items or downloadable content. With the release of a Microverse “Premium Pass”, gamers can gain first-hand access to premium games and receive exclusive bonuses, with all proceeds shared amongst participating developers.