At MyMetaverse we are obsessed with innovation.
Staying ahead of the curve isn't just a business strategy, it's a personal passion for everyone on our team.
For many years, our obsession has been the Metaverse and the technology that powers it — NFTs. The next paradigm that we simply can't stop thinking about is the 'multichain' future that is racing towards us, bringing immense benefit to the games market and every industry that aims to integrate into it.
No single blockchain will ever be able to serve all 7.7 billion people in the world. When the majority of the world's daily transactions start moving onto the blockchain, we will quickly see congestion on an epic scale without the advent of cross-chain capabilities.
When Mila Kunis and Ashton Kutcher sold 10,420 Stoner Cat NFTs, this single event basically froze the Ethereum network and cost collectors $790,000 in gas – and that's just for the failed transactions!
One collector spent 5.8 ETH (Currently $23,356 USD) on gas and got absolutely nothing in return.
This is a net-loss that would completely bankrupt 99.99% of the world's population.
Ethereum can become 100x more efficient and still only be able to serve a fraction of the people on earth.
If we want to bring decentralization to everybody, we will need many more blockchains and we will need a cross-chain nexus to connect them all together.
Efinity: The Cross-Chain Nexus for Crypto Assets
Efinity has many things going for it.
- It can mint and transfer millions of NFTs per second.
- It can natively support any crypto asset with no need to manually deploy smart contracts.
- It will incentivize valuations for every crypto asset, giving everybody a live portfolio price.
- It is infinitely upgradable through community governance.
But by far, Efinity's biggest advantage is that it is technologically and economically designed to bridge together every blockchain in the world. Yes — all of them.
Proof-of-Stake Collator Nomination
Part of Efinity's efficiency and scalability is thanks to its collator nomination process.
The Enjin community will choose 8 official collator nodes. Their job will be to aggregate Efinity's on-chain data and turn it into blocks that get passed to the Polkadot network.
Anyone who holds Enjin Coin ($ENJ) will be able to use it to nominate Efinity's collator nodes.
The Enjin community can do this by staking their Enjin Coin into each collator node – effectively taking their Enjin Coin off the market and increasing its scarcity.
Total locked value of Enjin Coin will soar upon the launch of Efinity.
Enjin Coin has been chosen to power this proof-of-stake nomination process because the coin has a $2B actualized market cap with 156,192 individual on-chain holders, making it an extremely decentralized token.
The growth of Efinity will encourage further decentralization amongst token holders.
For Efinity to remain secure, it needs to maintain at least 1 honest collator and it is already unfathomably expensive for a bad actor to buy up enough Enjin Coin to nominate 8 corrupt collator nodes.
In any case, MyMetaverse is here to make sure that can never happen.
The MyMetaverse Collator Node
MyMetaverse is a known and trusted Enjin ecosystem developer.
We have been part of Enjin's NFT movement since its inception in 2017, we have weathered the harshest of storms — and doubled down every time.
Now we want to double down yet again and create a collator node for Efinity.
The MyMetaverse Collator will guarantee 100% uptime by running 24 cores at 3.6GHZ with 1 Terabyte of RAM on a 5gbps unmetered connection.
It will also be completely carbon-neutral. Purely powered by sustainable energy.
Furthermore, 100% of the $EFI earned from transaction fees will be poured back into the Enjin and Efinity ecosystems.
- 50% will be given to nominators – the $ENJ stakers that vote for the MyMetaverse Collator Node.
- 10% will be allocated to fuel tanks to cover the gas costs of Enjin, Efinity, and MyMetaverse users.
- 40% will be used to build Enjin-powered tools, apps, and games on the Efinity network.
Here is a list of innovations we have already been building with no external funding:
- MyMetaverse - A metaverse explorer, game library, and app store for NFT experiences.
- MyMeta MMO - An immersive 3D MMORPG Metaverse where players can create communities of Meta Beings who farm, gather, craft, cook, fight, breed, and more.
- MyMeta Minecraft - A Minecraft network that fuses the most popular Minecraft game modes like Survival and Skyblock with powerful NFT mechanics.
- MyMeta Arcade - A minigames network where players can test fresh new games and help the team decide what to build into official releases.
- MyMeta GTA - A Grand Theft Auto 5 RolePlay server where players can create their own stories and build evolving NFT profiles. (Development Paused)
Two more experiences we would love to explore in the future are MyMeta Roblox and MyMeta Valheim.
One of our major driving forces, alongside our obsession with innovation, is the desire to continue weaving more and more experiences into our ever-expanding cross-game metaverse.
We Are Builders, Not Miners.
Bitcoin and Ethereum miners charge billions of dollars per month and generally trade their coins, creating downward pressure on the value of the networks they're paid to uphold.
When Bitcoin and Ethereum miners sell their earnings en-masse, the markets go red, and a lot of people get hurt.
The unsustainable way many of them source their energy is also a huge reason cryptocurrencies and NFTs are such a polarizing topic.
The actions of a few profit-hoarding institutions are creating a bad wrap for our whole industry.
The MyMetaverse collator pool will work in the opposite way – we will NEVER convert ANY of our $EFI into another asset and we will ALWAYS prioritize supporting the NFT movement over profits.
When we use the collator pool funds to create new innovations, developments, and partnerships — we will only pay in $EFI.
Furthermore, we will only send $EFI to those who understand the fundamentals of the Efinity Network and want to hold their $EFI and use it to vote in Efinity governance proposals.
We will empower those that share our vision, to help build a multichain future via Efinity.
This is the most technologically advanced multichain platform in existence – MyMetaverse is dedicated to helping it evolve and grow infinitely.
The next Polkadot Parachain auction starts on the 23rd of December.
If you want to make the internet a better place support the crowdloan.