As we well know, the blockchain world is full of surprises and amazing projects. At Bitnovo we want to make sure you don’t miss anything so every day we bring you new amazing projects that you can learn from. In this article we will talk about what is Somnium Space. If you want to learn how this project works stick around.
Somnium Space is an open virtual reality world that is powered by blockchain technology (of course). In this world all users can buy land, build or import objects, use their avatars and scripts as well as monetize their experiences and fully immerse themselves in the world of an alternative virtual reality.
In Somnium players can safely experience, work, create and have fun with other users located thousands of miles away. Somnium intends to create a stunning user-generated virtual environment that offers a rich addition to reality. This virtual world will be full of new and exciting possibilities that can be explored by thousands of users at the same time.
The goal of Somnium Space is to generate a virtual environment built as a cross-platform world, from smartphone apps to desktop virtual reality. This world will be in constant expansion combined with a global economy on the blockchain that gives rise to a Metaverse.
What technology does Somnium Space use?
Somnium Space is available for all major virtual reality headsets from Oculus PC, HTC VIVE, HP, VALVE, to all Windows Mixed Reality and other major compatible headsets. The native network generator has most of the functionality on the desktop, where users with native network assets can build virtually anything. This virtual reality world features the WebXR SomniumWEB platform that allows any user to access every plot of land from any device via a web browser, even in VR mode.
In addition, Somnium Space has developed UnitySDK with the goal of allowing more advanced users to load full-body Avatars and full scenes into their land plots within Somnium Space. The advanced SDK (software developer kit) is responsible for allowing players to maneuver with full scenes, scripts and animations greatly enhancing their experience.
Somnium dealt with the tracking of the entire avatar’s body, including lips, eyes and even the admission of functions such as hardware smell is foreseen. Either through multisensory masks or fans.
The architecture of this project allows thousands of players to all be inside the virtual reality world at the same time without the need to split users into sub-servers or duplicate instances. This operation provides the highest level of immersion while delivering a true Ready Player One experience.
Project economics
The economy is a fundamental pillar for any project and Somnium is no exception. In virtual reality worlds this aspect has no limits, which allows to better combine the world with reality. Since geography is not an obstacle, there are no problems when it comes to holding networking events, company meetings or teaching conferences.
The economy of Somnium Space is available to all users of the Metaverse regardless of location, race, gender, etcetera. The economy surrounding this world is completely decentralized and allows its users to have true control of their digital possessions as NFT, decide where they will be traded, how they will be used, among other features.
Thanks to the latest technology advances in the Ethereum network developers can build a solid foundation in the economy, exchange digital goods and services and achieve an experience based on privacy, security and encryption of ownership of digital items. Somnium enables its users to ensure the ownership and authenticity of their creations and excels at it.
The economics of this project are based on 3 fundamental pillars:
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- Tokenization of virtual terrain
- Tokenization of digital assets and experiences
- Decentralized markets
- Tokenization of virtual terrain
With these three pillars users can own and monetize their creations, they can trade their items on decentralized marketplaces and they can be part of the Somnium economy.
What is CUBE?
Somnium CUBE is the native currency of this platform. It is an ERC-20 token based on the Ethereum blockchain. This token facilitates the transaction process between network players.
With this currency, tokens are traded to play in arcades, to enter amusement parks, for teleporters or for racing cars. CUBEs are the base currency on which the economy is based. Artists can sell their tickets to visitors in this currency to enter museums, concerts, among others.
Developers will build and develop interactive arcade games to accept CUBE tokens from customers. It should be noted that, according to the creators of Somnium, CUBE is not intended to be a financial instrument for speculation or investment, but rather a currency that meets the needs of exchanging goods and services in the economy within the virtual reality world.
This currency has a limited issuance of 100,000,000 CUBE. Among the utilities that this currency satisfies are all the buying and selling in the virtual world, the sale of land in OpenSea.io, rentals, e-commerce, among other functions.
CUBEs also support the development process of smart contracts to create payment gateways with high speed and low costs in order to serve vr-commerce.
With CUBE users can afford to meet other avatars in Somnium and make them offers to trade their NFTs. The NFTs will go to the buyer’s wallet and the CUBES to the seller’s wallet through a very simple process.
