ETHVerse is a virtual world game built on top of Minecraft, powered by Ethereum. The team aims to enable users to truly own their virtual assets, along with trading them through an in-game decentralized marketplace. Essentially, users will be able to monetize their imagination for building in Minecraft.
What does ETHVerse add to Minecraft?
Users will have an integrated on-chain wallet, enabling them to deposit, send, and receive tokens while playing. Blockchain-powered ownership of virtual land and assets is possible via non-fungible tokens. A marketplace dApp enables users to buy, sell or trade assets and services in a decentralized manner. There are also plans for community governance of ETHVerse via staking.
Zoom in: the team plans to allow users to collateralize their virtual assets, opening up the possibility for in-game DeFi products. A unique feature not seen in competitors such as Enjin, Decentraland, or Sand.
- Competitors: ENJ, MANA, and SAND have a market cap of $200M, $130M, $30M respectively. Whereas ETHV has a $4M market cap, there is room to grow!
Zoom out: Building on Ethereum is a scalability concern for gaming, will people pay a $20 transaction fee to move ETHV around in-game? Games need a high throughput chain with a low cost such as Lamden or Chromia.
Not so fast cowboy… 31M tokens are going to unlock soon, and does the team have any vesting plans? The second wallet already has 1M tokens available to dump on you. We will need answers.