Somnium Space CUBEs, built on the Ethereum blockchain, is a group of virtual reality (VR) worlds. An open-source platform, Somnium Space allows users to buy lands, digital buildings, houses, and a myriad of valuable in-game assets from its online multiverse. Somnium Space's dynamics enable players to make, script, and monetise environments while exploring other participants' creations.
Unlike traditional multiplayer VR games, where users are divided into sub servers and mirrored-instanced rooms, Somnium Space hosts all players in one vast world. Within that broader VR universe, users can create Somnium Space environments that are fully programmable, customisable, and independent VR experiences. Further, non-fungible tokens (NFTs) and assets within the Somnium Space are compatible with VR Metaverse and platforms throughout the broader blockchain ecosystem.
Thus far, the Somnium Space offering is broken down into four elements:
Also, Somnium Space has a deeply incorporated NFT technology, allowing players to bring NFTs into the Somnium Space universe around the decentralised ecosystem.
While a user can go swimming, visit a museum, or dine at a restaurant built by another player in Somnium Space's Metaverse, the extent to which Somnium Space users can create unique experiences, worlds, and assets is unlimited. Here are some of its hot features:
The CUBEs are valuable additions to the blockchain-based economy and streamline transfers between players. Imagine a virtual reality game where customers play and buy tokens. CUBE tokens will be helpful when entering arcades and amusement parks or using race cars and teleporters.
Artists can sell tickets for CUBEs and allow visitors to enter user-generated museums or attend concerts. Producers will build and develop interactive arcade games to accept CUBE tokens from customers. Somnium CUBEs (CUBE) are in-game currency and not meant to be used as a tool or financial instrument for speculation or investment.
Somnium Space CUBEs (CUBE) is an ERC-20 token that is the Somnium Space platform's native utility token. The CUBE cryptocurrency streamlines in-game transactions between players. With an Ethereum wallet, players can hold ETH, CUBE, and NFTs (ERC-721 tokens), and CUBE is a bridge between these assets to facilitate in-game e-commerce transactions. Because of the expansion in Somnium Metaverse, the CUBE token will develop in-world utility and let players exist more deeply within the VR metaverses.
Artur Sychov, Founder and CEO of Somnium Space, confirmed to VRFocus that it's partnering with VRgineers, the corporate behind the XTAL enterprise headset, on the project. Specifications are being finalised now, with the complete specs, price, and release info arriving as a part of Somnium Connect, its first physical and VR event in December 2021.
The collaboration with VRgineers comes as no surprise considering Sominum Space also announced a strategic investment within the hardware maker. Details of the investment amount haven't been released.
Somnium Spaces is comprised of various in-game tools, namely tickets, vehicles, teleportation HUBs, and treasure hunts that we will elaborate on the following.
Tickets are created as NFTs, and only the NFT holders can access a selected land parcel. Everyone who doesn't own the NFT ticket cannot see and listen to anything on the package, while others enjoy a pleasant concert or crypto art auction.
Cars and other vehicles are NFTs and already activated to be used, owned, and operated by their owners only. If avatars can walk at four mph, cars travel at 25 mph, and teleportation happens instantly. A specific cost can be applied to every service-supported convenience and travel speed. Imagine some idle car NFTs sitting in Somnium not getting used, where you'll click to use the car for X amount of your time for X amount of CUBE tokens.
Teleportation HUBs are NFTs owned by users who can position them on their public or private land parcels. Public teleporters charge CUBE for every use or a monthly charge. The fees are pooled together and allocated monthly to the 50 owners with the principal activity and kinds of the teleporter. The more valuable teleporter is named the Indiegogo Founder because it had been sold during the Indiegogo campaign. These teleporters receive a 200% revenue boost, while ILO teleporters receive a 50% revenue boost.
Treasure hunts are often mystery games or labyrinths that guide avatars to QR codes of CUBE or ETH. Treasure hunts will accept the token reward once the avatar finds the QR code. Your avatar can even attend the event to personally hand the reward to the winner of a selected game.
At the time of writing this post on Jan 23, 2022, Somnium Space CUBEs trading volume has been $26K, meaning this amount of CUBE has been traded and circulated. CUBE's Return On Investment (ROI) has been 1,552% over the last year.
CUBE skyrocketed in its market cap rank between Nov 3 to 25, 2021, and jumped from #255 to #275. However, CUBE's Market Cap rank and coin price have started a recent downward trend, with coin ranking #486 when writing this article on Jan 17, 2022. Interestingly though, CUBE's price is 18744% above its All-Time Low and 75% lower than All-Time-High.
Popularity can potentially impact the impact influence of a cryptocurrency project. Data displayed on Cryptologi.st shows that CUBE's popularity on Twitter grew by 141% over the last six months, increasing to 17k followers as of writing this post on Jan 17, 2022.
As we saw, CUBE has huge potential, with certain collaborations and innovations increasing the number of users and adoption. Keeping a watch on the most recent CUBE news is essential for successful investing. You will also get to grasp the crypto you would like to speculate in, and you may get more insight into why the value went up or down. Samples of such websites are Github or Reddit. At Cryptologi.st, we offer all the announcements and demanding metrics you'd require before deciding to take action. You will discover up-to-date, reliable information about the cryptocurrency market on our website.
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