Beta Block is another series which focuses on new projects on a blockchain which is not released yet. This time around I will be focusing on a project called Infiniverse.
Infiniverse is an augmented reality project that is on top of the EOS blockchain. The easiest way to describe Infiniverse is by saying it is a love child of Second life and Pokemon go. However, this would mean you know all about those games, but some people do not.
For those of you who don’t know about other projects like this then let me explain. Infiniverse is an MMO (Massively Multiplayer Online) augmented reality game where people play a game but in the real world. Imagine looking into the distance and seeing an empty field or park, then imagine what you could build if there were infinite tools and materials. However, you will not see this in real life you will only look at the things you create on a phone or a device such as Google Glass.
Within this game, you will be able to rent land like you rent a domain name you will then be able to build on that land or advertise and also create your own business in the area. You will also be able to buy and sell items within the game to other users for real money. You will be able to do this in the form of there own cryptocurrency “Infinicoin”. There will also be the option to do jobs for people to earn some money.
Infiniverse is a fantastic idea, and it has had me mesmerised since I heard about it however not only in a good way. I now want to go through what I believe what will be my pros and cons within this project and also how I see this project going in the future. I also want to discuss Infinicoin as it will be a massive part of the economy within the game.
The main positives I feel will come from this game are:
- Getting more people active and interacting with new people.
- Real world jobs in a digital world.
- Many benefits for artists.
- Early adopters will get fantastic land options and prices.
1. Getting more people active and interacting with new people.
As many people saw when pokemon go became a smash hit on the app store, people started going out and becoming more active. I am currently one of the people who still play this game with my family, this gets us out, and we enjoy time out of the house with something to keep us all busy at the same time. Now unlike pokemon go, I don’t think it will bring too many families together, but I can see it bringing new people to talk to each other.
2. Real world jobs in a digital world.
The real world jobs will be things such as someone paying you to attach a billboard to you while you walk around town. For doing this, you will get paid Infinicoin. I am sure there will be many other jobs that people can think up for people to do however we will have to wait and see where peoples imagination takes them.
3. Many benefits for artists.
Artists will be the real winners in this. People will be able to create there own 3D models eventually, and I am sure lots more. The possibilities are endless for artists here. They will be able to sell items they make, or they could even charge for building something for someone.
Imagine if you are an art student you could create your model and show it live in the real world or even use it in a portfolio to get a job.
4. Early adopters may get fantastic land options and prices.
I am always up for a bargain, and I know that if I start buying land when it is released, then it might be worth something one day.
The main negatives I see are.
- Hate speech/bullying
- Clutter and advertising.
1. Hate speech/bullying
As we all know hate speech and bullying is everywhere and even more so online. But what if you were directly bullied without you even knowing this was happening?
I’ll explain, Say we have a quiet child called Bob. Bob doesn’t play infiniverse and doesn’t fit in well with the kids at school. The kids at school buy the plot of land in front of his house and write a sign saying something along the lines of my name is Bob, and I am selling phones cheap at this house. People will keep knocking on the door asking for bob. Or they could put his number on the board in the middle of town.
I know we can’t stop bullying, but this could be a bad look on the game.
2. Clutter and advertising.
Advertising in this game is a great idea, but it could also be its demise. The great thing about advertising in this game is you could rent out signs for people to advertise products. However, the problem with businesses sometimes is they don’t know when to stop. If the game ever hits national or international headlines, then advertisers will flock in and clutter as much as they can. This action will also destroy they platform it is purely a terrible situation for everyone.
As with pokemon go, trespassers will become a thing. If someone realises there is a place that gets seen a lot or that something will look cool in a specific area then they won’t stop on finding a way to get there.
Copyright was touched on in an interview. There wasn’t much said about this other than the people who create something in the game will own the copyright to develop more of that item. Now, will this mean people can copyright simple things and essentially corner the market on certain items? I can’t answer that, but it will be something to look out for when the game launches.
I wanted to look at the currency Infinicoin. Infinicoin is not bad nor is it good more of a matter of opinion. I spoke to Nebojsa Zelenovic the lead on this project, and he had this to say about the coin.
Infinicoin is a pure utility token. It is not designed for speculation, or to maximise its value relative to other currencies. Please do not speculate on Infinicoin, rather buy it if you want to register land or transact on the Infiniverse marketplace. If you wish to make money with Infiniverse, there are a number of ways, by they require substantially your own effort. For example, selling assets on the marketplace, renting land or doing jobs for other users.
He then went on to say.
Infinicoin is not a stable coin in the sense of fixed to USD, or some other basket of fiat currencies. But it has a monetary policy designed to smooth out fluctuations and maintain Infinicoin as a stable source of value for the Infiniverse economy (ie. buying land and digital assets).
I see the first statement as mainly trying to protect the company from legal action. Because when we move onto the next statement, he then goes on to talk about Infinicoin is not a stable coin. When a coin is a stable coin it is pegged to a coin such as USD, and it follows that amount, however, the way they are doing this it looks like they are manipulating the currency in such a way, so it goes up and down as they choose. I am not sure how I feel about this as I think they should just let the market decide how much things are worth however they think differently as he goes on to say.
An economy needs a stable currency, or else it will descend into chaos. Imagine if your country’s fiat currency went up and down in value every day by 10-50%. All shops and businesses need to constantly adjust their prices, etc. It would be a huge mess, and would be a safe place for businesses to invest it.
It does make sense in a way, but I do also disagree, but I guess it is a personal opinion on this one.
Infiniverse is a fantastic looking project, and I am very optimistic about how it will turn out. With my love of both cryptocurrency and gaming, I hope this goes well. There are many hurdles for them to jump over however with the team they have I am sure they are more than capable.
I am hoping to return to this project when it is launched to do a full look at what is happening and to see what is getting put out into the Infiniverse.