CoinMarketCap takes another deep dive into one of the newest metaverse-oriented launchpads.
But while many shudder at the thought of a corporation guiding the development of the metaverse, dozens of blockchain-based platforms are hard at work building the tools, platforms and protocols that will ensure the metaverse develops into a community-governed, permissionless ecosystem that is free of the challenges that plague the present-day internet.
Now, a platform has emerged to help promising metaverse projects gain the funding they need and bootstrap their initial user base, while providing investors with access to hand-picked early-stage projects that might eventually grow to become the juggernauts of the metaverse.
It’s called MetaVPad. Here’s what it’s all about.
What Is MetaVPad (METAV)?
As a launchpad, MetaVPad provides a platform where promising metaverse projects can host their private and public sales through an initial DEX offering (IDO). METAV token stakers are able to participate in these early-stage projects at the best available price before they list on public exchanges.
The platform looks to help ensure the metaverse remains decentralized by providing a simple fundraising pathway for the projects and products that will help shape the nature and character of the metaverse.
What Is the Metaverse, Exactly?
The metaverse is widely considered to be the rapidly growing landscape of technologies, services and products that contribute to a more intuitive, enhanced internet that can be either navigated through a three-dimensional environment or accessed much like the traditional internet.
How Does MetaVPad Work?
MetaVPad is designed to host IDOs for projects that are building in the metaverse. This could range from interoperability protocols to decentralized file storage solutions, avatar and digital identity technologies, blockchain-based games and digital real-estate, standardization and infrastructure platforms, and more.
The platform features a native token known as METAV, which will be deployed on both the Binance Smart and Ethereum networks as a BEP-20 and ERC-20 token respectively. Users will need to stake METAV to unlock their tier on the platform and participate in IDOs. They will also earn a yield while doing so thanks to a fee redirect feature applied when others sell their tokens.
Users will need to commit to staking for at least eight weeks, or they will be subject to an up to 25% burn on early withdrawals. Beyond this, a 10% deduction will be applied to all METAV DEX sell transactions. 7.5% is redistributed to stakers as a staking yield, whereas the remaining 2.5% is permanently burned.
The early unstaking fee and sell transaction fee contribute to METAV’s extreme deflationary tokenomics, which are designed to decrease its circulating supply with time.
Users are divided into three tiers (Explorer, Creator or Architect) depending on the number of METAV tokens staked. All users will receive a guaranteed allocation in every project launching on the platform (provided they have whitelisted), but the size of this allocation depends on their tier.
Like many launchpads, MetaVPad uses a tier weighting system to determine how much of the total IDO raise is allocated to each tier: Explorer tier users receive the smallest allocation, Architect tier users receive the largest and Creator tier users receive something in between.
On the flip side, Metaverse projects can apply to MetaVPad for incubation. Depending on their strength and staying power, they’ll either be given the go-ahead and will launch an IDO on the platform, or they’ll be rejected. Given that MetaVPad is primarily focusing on quality over quantity, only the strongest projects will make the cut.
The platform is still in its early days, but the team behind the project has already had a large amount of interest from metaverse projects. According to MetaVPad’s official Twitter account, the first wave of hand-selected projects are currently being vetted by the BlueZilla team and prepped for launch.
What Makes MetaVPAD Unique?
As the first metaverse-centric launchpad, MetaVPad is designed to bootstrap the metaverse with the first generation of blockchain-powered projects.
To help distinguish itself from other launchpads and incubators, the platform incorporates a range of distinguishing features.
Backed by BlueZilla, the VC powerhouse behind a variety of other launchpads, MetaVPad will benefit from projects that are hand-selected by an experienced team of analysts and veteran traders. Each project is assessed for its quality based on a number of factors, such as team experience, market demand, novelty, disruptive potential and more to ensure that only strong projects with an excellent chance of success are hosted on the platform.
In order to make the platform as fair and accessible as possible, MetaVPad provides all tier holders with a guaranteed allocation for every project. As we touched on earlier, higher tiers will receive larger allocations, the exact amount is determined based on the size of the raise and the number of people in each tier.
The platform is also equipped to support vested distribution models, providing users with recurring token releases based on each project’s unique vesting schedule.
To maximize the longevity of the platform and incentivize long-term supporters, the METAV token features aggressively deflationary tokenomics. 2.5% from every METAV DEX sell transaction is burned, whereas an up to 25% burn fee will be applied to those that unstake their tokens before an 8-week timer elapses.
The metaverse will almost certainly be composed of projects building on a wide variety of blockchains, likely including Ethereum, Binance Smart Chain, Polygon, Avalanche and more.
In light of this, MetaVPad supports projects building on several of the most popular blockchains. This ensures users gain exposure to the full breadth of the Metaverse landscape, rather than being limited to projects building on a single chain.
Unlike many launchpads, tier holders on MetaVPad don’t just unlock access to sought-after early-stage projects. They also earn rewards on their staked tokens. These rewards are derived from the aforementioned sell tax that is applied to each DEX sell transaction for the METAV token.