In the past years the concept of the metaverse has become increasingly prevalent.
While it might seem that we are not confronted with the metaverse in our personal lives on a daily basis, it does play a very important strategic role in most global tech companies at this point. Many Chinese corporates are working on the metaverse while acknowledging that all their actions need to stay in line with the local regulations.
Internationally, a well-known example of this dynamic is the renaming of Facebook to meta in order to account for the company’s ambitions to be a leader in building the next metaverse experience.
When talking about the metaverse, there are two options how the metaverse will look like.
- It will be a centralized entity, controlled by a government or corporation. This is what meta wants the metaverse to be
- It will be a decentralized concept, not controlled by a single entity and most likely a patchwork of multiple metaverses that are built on various blockchains
When looking at the major blockchains that are living up to the standards of web3 enthusiasts, Ethereum already has a multitude of great metaverse concepts being developed.
The Ethereum developer community is by far the largest and strongest among all major blockchain solutions.
The team of AdaLand has long been fans of the Cardano Blockchain, another major blockchain next to chains such as Solana, Avalanche, Polygon (Layer 2), etc.
What enthusiasts love about Cardano is that it is open-source and decentralized, with consensus achieved using proof of stake. It can facilitate peer-to-peer transactions with its internal cryptocurrency, ADA. Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson.
Not only that, Cardano has a small but strong fanbase in China too, with some of the staff of the Cardano Organization (https://cardano.org/) being located in Shanghai for example.
In order to further the vision of a future metaverse that resembles option 2 (decentralized, in the spirit of web3) the team of AdaLand decided to build their own metaverse on the Cardano blockchain, that has been neglected by developers for some time. But AdaLand is putting some important (and revolutionary) spins to their metaverse model:
Their goal is to introduce the next 100 million users to the world of web3 by enabling the next 10 thousand developers to built real-world utility apps on the AdaLand metaverse platform.
AdaLand sets a new standard for a futuristic landscape with sci-fi inspired characters, environments, activities and a ton more. They aim to establish a metaverse for everyone on the Cardano blockchain that provides infinite possibilities to creatively express oneself.
As part of that mission they will provide users the possibility to customize their own avatar, buy and build estates, join quests and missions, buy and sell assets, earn money and explore the vast landscape AdaLand has to offer.
Particularly noteworthy is the way the different players in the AdaLand ecosystem play together:
1. Developer Community
As stated earlier their goal is to onboard the next 10,000 developers onto the Cardano blockchain by providing them with the incentives to develop real-world utility projects.
This is achieved through 3 ways that are unique in the metaverse space so far:
1. allocating part of the AdaLand treasury to incentivizing the developer community,
2. partnering with company partners in order to forge partnerships that benefit developers,
3. following a unique social media strategy focused on providing value to developers.
2. Company partners
Most metaverse projects fail to understand that company partners are an integral pillar of building a metaverse. Sure, it is nice to have consumers use the metaverse – but ultimately it needs to be attractive to corporates too.
The AdaLand team offers multiple advantages to their company partners when we asked them for clarification:
1. tapping into the AdaLand developer talent,
2. exposing their brand to the AdaLand community
3. partnering on bringing applications into existence through the AdaLand metaverse
3. AdaLand Community
The AdaLand team keeps repeating that they want to onboard the next 100 million users into the world of web3.
How do they plan to do that?
1. In-metaverse experiences,
2. Experiences outside the metaverse (e.g. applications that run on top of the AdaLand Developer Program but do not require a presence in the metaverse) and
3. Media creation on social media and proprietary channels that a. entertain and b. educate the community. Pillar 3 is also how they convert some of their audience into developers on the Cardano blockchain by raising the transparency around the development profession & ecosystem.
More information prior to the first land sale in AdaLand (which will enable people to buy metaverse land, build on top of it, and bet on the value appreciation of said land) can be found here:
Disclaimer: Our content is intended to be used solely for informational and educational purposes, and not as investment advice. Always do your research and consider your personal circumstances before making investment decisions. ChineseAlpha is not liable for any losses that may arise from relying on information provided.