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AlphaVerse is on a mission to create a central hub on the blockchain network, thereby connecting different Metaverse ecosystems.
Crypto Blockchain Industries (CBI) has announced the expansion of new universes in the AlphaVerse metaverse. Notably, AlphaVerse is a metaverse ecosystem that is set to begin operations in 2022. The metaverse industry has seen huge growth as more institutional investors focus on its long-term aspects.
Meta Platforms, formerly known as Facebook, crowned it all when it shifted its focus towards the metaverse market. Moreover, more hardware-based companies like Nvidia and Apple are working to develop gadgets that will enable a seamless transition to the metaverse industry.
AlphaVerse is on a mission to create a central hub on the blockchain network, thereby connecting different Metaverse ecosystems. Moreover, AlphaVerse creates different universes including third-party brands.
The ecosystem currently get funds from selling NFT lands and other virtual objects. “if the NFTs sold include intellectual property that is held by a third party and used by CBI under a license, CBI pays back part of the revenues to the holder as royalties; the average rate for royalties ranges from 30% to 70% of the revenues collected,” the company noted in a press release.
Additionally, the platform collects its funds through sales of crystal tokens. Notably, Crystal token is the native currency used in the AlphaVerse ecosystem and is built in the Binance Smart Chain.
However, the company plans to add more revenue streams in the future once it has its services in operations. Among the revenue streams intended include micro-transactions, sales of games within AlphaVerse, and revenue sharing with games developers.
AlphaVerse and the Metaverse Market
Among the notable universes on the AlphaVerse is the one that is dedicated to the legendary hip-hop photographer Chi Modu, who passed away in May 2021.
“The Chi Modu AlphaVerse will include a museum with some of his incredibly famous visual imagery. Fans will also be able to create their world by developing specific virtual districts and communities and will be able to own apartments or houses that can be personalized. The first release will take place during the first half of the 2022 calendar year,” the company noted.
Another notable universe on the AlphaVerse is the one developed by Apex Predators and offers over 5,000 figurative digital artworks.
AlphaVerse expects to attract more players despite notable competition from other tech companies from all over the world. Institutional investors through the DeFi ecosystem are laser-focused on the metaverse market that is expected to significantly grow over the next few years.
Mind you, the non-fungible token (NFT) industry, which is a major integral part of the metaverse, experienced huge growth last year.