What Is Somnium Space and How Will It Build Its Metaverse Economy?
Metaverse platforms have stressed the importance of virtual reality (VR) and immersive experiences.
To clarify, Somnium Space is a metaverse with a different objective.
It allows users to join in either through a downloadable VR client
Or a browser-based version to function like any other web app.
Somnium Space is an open-source metaverse platform
Officially launched in 2017, then available to the wider public in 2018.
This is one of the earliest movers in the market
Along with industry pioneers such as Decentraland.
Somnium Space has very low barriers to entry
And hopes to make metaverse technologies accessible to all.
Metaverse is an independent, decentralized, and free-market economy
Therefore, many of platform take a part in the metaverse.
It is different with the real-world economies,
On the other hand, there are no red tapes barring participation and is truly borderless.
Somnium Space have the similar principles
The aims is to provide its users with a democratized space
Where they can earn, trade, and create monetizable assets.
To achieve the goals, Somnium Space takes advantage of the Ethereum blockchain network
Which forms its underlying architecture.
The application allows users to tokenize their in-game assets such as;
Land, avatars, wearables, and others using the Ethereum blockchain.
This feature automatically disassociates the Somnium Space firm
From value generated from players
So, they can enjoy value created in the Metaverse
Not only in the metaverse, but also across the crypto and token market.