Place/Date: - September 23rd, 2022 at 2:03 pm UTC · 5 min read
Contact: Maxity, Source: Maxity
Recently, Maxity, the world’s first Web3 social impact protocol, has announced the innovative creation of the pioneering Volunteer and Reward (V&R) model which will be integrated into its Symbiotic Metaverse. The model is to attract more people from around the world to participate in volunteering and solve social issues, with the help of Web3 and blockchain technology. It is also aimed to bring revolution and systematic upgrade to both the traditional internet industry and the blockchain industry.
We have all seen the infamous Play to Earn model, allowing gamers to play games while earning a living at the same time. Sounds wondrous? Not Really. The 625M hack on Ronin Bridge resulting in Ronin suspending withdrawals of players money, plummeting of AXS and SLP and eventually players losing thousands, even millions. This according to Bloomberg, made Web3 seems like “a sketchy financial instrument while hackers prey on everyone involved”.
Web3, the inevitable future that will change and shape the world at an unprecedented rate, as you may see is currently being used to exploit money out of users, scarring users instead of welcoming them to embrace the world of blockchain. For example, we have all seen some Move-to-Earn models failed to make it through the death spiral of the crashing price of sneakers and tokens. It seems that all “X 2 Earn” models that claim to repay users in as quick as a few months or even weeks are all Ponzi schemes. Therefore, it is noteworthy that how Maxity’s Symbiotic-Metaverse-based V&R model is to solve this critical issue and it is worth looking forward to how the model will attract more people to get involved in volunteering and solve all kinds of global sustainability issues.
The birth of the world’s first V&R model was announced during the VIP event hosted by Maxity at the House of Lords in London in late June. The model will be integrated in the future development of Maxity’s Symbiotic Metaverse where businesses and individuals can make direct interactions and transactions free of third parties. At the beginning, Maxity named the model as Volunteer-to-earn to allow better understanding for users. However, through thorough research, it has come to realisation that volunteer to earn model has a certain conflict to the original purpose of voluntary activities. It imposes a negative influence on positive charitable events, while volunteer and recognition does not classify as powerful incentivisation. Therefore, Volunteer to earn model is optimised to Volunteer and Reward.
Looking at the statistics, there are more than 1B volunteers worldwide, exceeding the number of unemployed people, indicating even low income, unemployed people squeeze out time to do charities work. It is the human deepest desires to give back to the community. By volunteering in various events, it brought purposes, improves physical and mental health and at the same time expanding our network.
V&R model, brought by Maxity acknowledges the importance of volunteering, especially due to Covid-19 which forces closures of industries and schools, widens social inequalities and global poverty, restricting offline volunteering events. Various NGOs and charities are facing issues on motivating people to volunteer and encouraging them to spend more time and energy on charitable events to solve social problems. This is when V&R steps in to be an incentivisation tool of NGOs and charities.
V&R, relaying earning a living through volunteering, incentivises users to do charities works by turning all volunteering events into rewarding experience. This model innovates the meanings of Web3 industry, the long-term stable dividend allows the sustainable development of this incentive mode, which motivates a lot of charitable users join the blockchain world and solve social issues with sustainability.
Maxity changes the volunteers’ behavior by letting them join the metaverse and work in it for the charity. Various kinds of charities publish different charity tasks on the virtual land in Symbiotic Metaverse based on the issues they aim to solve and set rewarding standards together with Maxity.
Volunteers worldwide holding Avatar NFTs of Symbiotic Metaverse can start claiming charitable tasks, each completion comes with certain rewards. The rewards come in 2 forms, Max Token (native token of Maxity platform) and MAXI Token (Volunteer and Reward token).
For example, one charitable organisation on Symbiotic Metaverse holds a volunteer event with participants from all over the globe. Each participant must accomplish certain tasks, either through offline or online mode. The experience of volunteer activities is designed to be captivating with creative method using AR technology (imagine Pokémon Go). Completing the tasks brings them rewards that helps charities and volunteers. The rewards can either come from Maxity or organisations that have settled in Symbiotic Metaverse, e.g., charities, governments, etc.
MAXI token is rewarded according to the participant’s contribution. With MAXI token, members are able to exchange metaverse devices, upgrade virtual lands utility, construct buildings, etc. All the utility, buildings, land comes in the form of NFTs and are tradeable on Maxity NFT marketplace.
Maxity has customised the ROI ratio of the Avatar NFTs and the V&R model reasonably. Incomes from investments by governments and enterprises and the return elasticity brought by the Web3 industry dividend guarantees the sustainable operation of the V&R model without the fear of capital shortage, which resolves the short life cycle issue in Play-to-earn models.
To summarise, the world’s first Volunteer and Reward model created by Maxity aims to be a Web3 application that combines innovativeness and social responsibility and break the doom of X-to-earn models. The model will attract lots of Web2 users and volunteers from the globe to join Web3 industry, which could, to some degrees, change people’s prejudices to the blockchain industry and allow the blockchain technology to serve the society better, revolutionize the traditional internet industry, and achieve a systematic upgrade.
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