The world of video games has come a long way, from the creation of the popular classic game Pong, released by Atari Inc in 1972, to the futuristic concept of the metaverse. The term “metaverse” was coined by a science-fiction author Neal Stephenson in 1992 from his hit novel “Snow Crash.” 11 years later, in 2003, Linden Lab developed what is generally considered the first metaverse, which is an online virtual world called Second Life. Finally, fast forward to 2021, a technology visionary and internet entrepreneur, Mark Zuckerberg, set in motion the metaverse bandwagon and invested $10 billion into this new frontier.
What is a metaverse?
A metaverse is a virtual reality space where users can interact with a computer-generated environment and other users in real time. It is essentially a collective virtual shared space that is created by the convergence of physical and virtual reality. The term “metaverse” was coined in Neal Stephenson’s 1992 science-fiction novel “Snow Crash.”
In a metaverse, users can create avatars, which are digital representations of themselves, and interact with other users, objects, and environments in the virtual world. These virtual worlds can be designed to simulate real-life environments, or they can be entirely fictional.
Metaverses have been used for a variety of purposes, including gaming, social networking, and education. They have also been used for virtual events, such as concerts and conferences.
Currently, the concept of a metaverse is mostly associated with virtual reality technology, although it can also be accessed through other platforms such as desktop and mobile devices. Companies like Facebook, Roblox, and Fortnite are actively exploring the development of a metaverse and have made significant investments in this area.
What is LunaOne?
Upon joining the metaverse community, the LunaOne project brings an assortment of innovations and technologies to the playground, from the LunaOne-Chain and Directed Acyclic Graph (DAG for short, more on this later), to the XLN token and the metaverse.
Although different in its own ways, it follows some principles of The Sandbox and Decentraland, but in a more holistic manner. The LunaOne initiative is an all-inclusive virtual world that aims to leverage its advanced features and properties to offer users a “hyper-realistic and fully immersive” experience. So far, it’s the project that comes closest to realizing a world like that of Ready Player One.
LunaOne metaverse is a 3D virtual environment that can be accessed through AR/VR devices. This iteration of the metaverse takes advantage of Web 3.0 technology, which allows for interpreting loads of information in an accurate and smart, human-like way. The technology leverages machine learning (ML), Big Data, and decentralized ledger technology (DLT) to become autonomous and more intelligent. Essentially, Web 3.0 combines internet and decentralized protocols, and LunaOne metaverse capitalizes on this innovation to offer accurate data processing.
Your main interactions within the metaverse will be through a personal avatar. The avatar is created on an NFT template, which validates the uniqueness of the avatar and ensures that you’re its creator.
Just like in real life, you can purchase in-verse merchandise, such as shoes, clothes, furniture, and even houses, using the avatar. All of these items are sold as NFTs and can be bought using the in-game cryptocurrency XLN. There are classes assigned to each item that your virtual person buys in the metaverse to indicate its rarity, starting from common to rare and legendary.
Each transaction when buying or selling merchandise is fully traceable and incorruptible and will be stored on the Blockchain to provide transparent and security. Developing and polishing the in-verse financial system is the first step toward achieving a full autonomous commerce environment in the LunaOne metaverse.
Check out our guide to NFTs and other metaverses like Memeland and Decentraland.
LunaOne crypto: XLN token
XLN token will be the essence of every economic activity within the LunaOne metaverse. The coin will serve as a medium of exchange in the virtual world, just like cash is in the real world. And participants will be able to earn, spend, deposit, and withdraw the token. Additionally, even though the initial launch of the XLN token is on the Binance Smart Chain, the cryptocurrency will eventually be natively minted on the LunaOne-Chain. And holders are allowed to convert 1:1 between the blockchains.
The most appealing aspect of the coin is that it provides passive income and acts as a high-interest bearing asset. Every transaction executed on the Blockchain will pay out a 2% fee. This fee will then be distributed among the holders of the XLN token, generating a passive income stream. This property of the token can be significant as the LunaOne metaverse has the potential to attract substantial interest in the burgeoning industry. Also, you can stake your holdings – similar to sending money to a savings account and earning a high APY to supplement your income further. However, to grasp the importance of this token, you must understand the scope and scale of LunaOne metaverse.
How to buy LunaOne XLN token presale?
To buy presale XLN tokens, follow the steps below:
- First, be sure you have a crypto wallet (we recommend MetaMask)
- Register for a LunaOne account here
- Go through the KYC verification process
- Add a credit card if you’d like to buy XLN with fiat currency
- Purchase your desired amount of XLN
About the LunaOne-Chain
Blockchain is a disruptive technology with many significant applications and potential implications in different industries. However, Blockchain doesn’t come without limitations. Because of its nascent stage, the technology typically has problems with scalability, slow processing pace, and is expensive to operate. As a result, the team behind LunaOne has created their own Blockchain, called LunaOne-chain, upon which LunaOne’s infrastructure is built.
One of the advantages of the LunaOne-chain is its capacity to process high transaction volume. For example, the most famous ecosystem, the Ethereum blockchain, is only able to process 13 transactions per second (TPS). And the most capable system so far is the Solana blockchain, which allows up to 65,000 TPS. While that is impressive compared to the previous one, the leading technology behind LunaOne-chain can deliver up to 400,000 TPS. This helps prevent bottlenecks from an influx of transactions from various activities, such as gaming, education, business, and entertainment, all of which take place inside the LunaOne metaverse.
Directed Acyclic Graph (DAG)
An advanced mechanism called Directed Acyclic Graph (DAG) is a protocol designed to structure and model incoming data. The technology behind DAG can be intricate and perplexing. But its main function is to facilitate faster processing in the Blockchain. When interacting with the LunaOne-chain after receiving transactions, the mechanism segments the data into patches rather than handling it individually. This helps avoid double-spending and safeguards against external hacks – a common theme in the crypto world. Other implications of these protocols are seamlessly confirming transactions in a decentralized method, dealing with heavy loads and global network congestion, and potentially validating millions of transactions. However, these transactions won’t occur without the XLN token.
Other properties and aspects of the LunaOne metaverse
Additionally, the LunaOne metaverse also integrates other features and technologies in the ecosystem. For example, the NFT launchpad, a protocol by which virtual assets are tokenized, is a necessary feature for any play-to-earn (PTE) game developers. Decentralized file storage (DFS) is a repository system that secures the information generated in the metaverse by segmenting and distributing data among members of LunaOne. Decentralized messaging provides a communication means in the 3D virtual space, facilitating conversations between users. Any and all communication will be stored in the DFS. And finally, the developers of LunaOne partner with VR/AR manufacturers to lets users experience the immersive world of LunaOne metaverse through advanced sets, like haptic suits, gloves, and other wearables.
Is LunaOne legit?
LunaOne is a hard one for us to decide if it’s legit or not. The project itself is massive. It’s attempting to make the Ready Player One world a reality, and that’s no easy task. It’s been in development for 2 years and we haven’t seen many of the partnerships they claim on their Lite Paper manifest yet. And at the current price of XLN, it’s got a massive valuation to the point where we think it’s likely to drop significantly if/when the company goes public.
Plus, it doesn’t seem to generate a lot of social buzz relative to how massive this project claims to be. Content creators make a lot of general and vague points about the LunaOne project, probably because a lot of things truly are unknown about it. At this point, it very well could be legit, but time will tell. I personally would not put in too much into XLN if I were to invest at all, and at this point, I’ve decided not to invest quite yet.
A lot of people look at metaverse projects and ask questions about the validity of investing in the cryptocurrency of those projects. The LunaOne project looks to be massive, and we’re personally more interested in the potential of LunaOne as a holistic metaverse rather than as an investment. We really hope it comes to fruition, but we’re simply keeping a watchful eye at this point.