The Somnium Space

[TL;DR]

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1. The Somnium Space is a Virtual Reality world on the Ethereum and Solana blockchain.
2. The Somnium Space economy has three different token assets, which includes the Somnium (CUBE) token, Land (PARCELs), and (AVATARs)

3. The Somnium space in-game mechanics includes "cross-platforms, customizable PC clients, blockchain technology, virtual land ownership, _script_able world, persistent social VR world" — all while allowing users to monetize their Space and live forever using their AI Avatar.

4. The Somnium space consists of Karma Levels which is a reward that can be earned based on Engagements, Ratings, building activities, and public participation

This guide, however, provides all the essential information needed for proper understanding and navigation of the Somnium Space.


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What Exactly Is Somnium Space?

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Somnium Space is an Ethereum and Solana blockchain-based Virtual Reality platform, which serves as an open-source platform that lets users acquire digital land, homes, buildings, and other valuable in-game assets in the Virtual Reality multiverse. Somnium Space's immersive dynamics allow players to create, customize and monetize their VR worlds while exploring other players' creations. Somnium serves as a social gathering location for Individuals across the globe.

Unlike traditional VR games, which separate users into sub-servers and mirrored-instanced rooms, Somnium Space brings every player together in one world. Users can also develop Somnium Space environments that are fully programmable and customizable, which provides independent VR experiences within the entire VR universe. However, the possibilities for Somnium Space users to create unique experiences, environments, and assets are virtually endless.

Elements of the Somnium Space

The Somnium Space offering has four essential elements:

1. SDK, which enables the creation and customization of assets and avatars. It allows users to tweak animations, _script_s, and environments to customize their experience.
2. Virtual reality experiences, i.e., a builder unit for creating environments and structures
3. Somnium NFT marketplace for trading
4. Somnium Space incorporated NFT technology, allowing players to bring NFT-based assets across decentralized ecosystems into the Somnium Space.

Key features of the Somnium Space

• The Somnium Space is a blockchain-based virtual reality universe.
• It enables users to utilize avatars and _script_s, create or import artifacts, purchase lands, and monetize their experiences.
• Somnium is a cross-platform ecosystem that supports everything from Virtual Reality headsets, smartphone apps, virtual desktop reality, e.t.c.
• Somnium space also has the Finger tracking feature, which enhances immersion.
• Multisensory masks/ fans are expected features on the Somnium Space.

Tokenomics Is The Somnium Space

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Somnium Space Utilizes tokenization, which essentially benefits the players by allowing them to tokenize their in-game assets such as land parcels, avatars, collectibles, e.t.c which separates the Somnium Space from the value created by players — all while allowing them to access the value created in the metaverse across the entire crypto and token economy.

The Somnium Space economy encompasses three different types of token assets:

1. Somnium Space’s Cube Token (CUBE):
Somnium Cube (CUBE) is an ERC-20 token, the native utility token for the Somnium Space platform. CUBE can be used to buy virtual assets, pay for metaverse goods and services (e.g., rent land, pay for games and events), and award players with "Karma." The CUBE cryptocurrency also allows players to conduct in-game purchases and exchanges for various experiences within the game's virtual reality. Players can, however, store their CUBE tokens in a Cryptocurrency wallet.


2. Somnium Space Land Parcels (PARCELs):
All land parcels in the Somnium Space are Non-fungible tokens (NFTs) built on the Ethereum and Solana blockchain, giving users complete ownership and full customization. However, Somnium Space conducts Initial Land Offerings (ILOs), virtually a digital auction that allows users to bid for particular land parcels within the virtual metaverse while utilizing the blockchain network for transactions.


The cost of a parcel varies depending on its size, characteristics, and proximity to desirable elements. "The Somnium Space map consists of 5,026 purchasable land parcels which are available in 3 different sizes." Buyers can use the Somnium map to open a page or directly buy from the Secondary Marketplace, OpenSea.

3. Somnium Space Avatars (AVATARs):
Back in 2020, the Somnium Space team took another step towards enhancing the utility of the CUBE token by introducing the (AVATAR) tokenization, which allows players to mint their own full-body VR avatars onto the blockchain using the CUBE token. Players purchase an avatar using CUBE to participate in this tokenization, which becomes part of their inventory. These avatars are unique and can be used across major digital platforms in virtual worlds.


The CUBE token also enables players to purchase another player's avatar as an NFT. DURING THE TRANSACTION, the CUBE token in the buyer's crypto wallet is exchanged for the NFT in the seller's wallet. This ability to build avatars within the Somnium metaverse shows the expanding applications of CUBE tokens.


"The live Somnium Space Cubes price today is USD 6.72$ with a 24-hour trading volume of USD 250,072. Somnium Space Cubes is down 1.94% in the last 24 hours. The current CoinMarketCap ranking is #440, with a live market cap of USD 84,049,560$. It also has a circulating supply of 12,500,000 CUBE coins and a max. supply of 100,000,000 CUBE coins."
— CoinMarketCap

How Karma Levels Work In The Somnium Space

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Generally, the Somnium Space Karma level represents how virtual reality users perceive each other.

Somnium evaluates a player's Karma level using the following key metrics:

1. Engagement is the value of each player's economic activity, time spent gaming, land ownership, and world discovery rate. The more time a user spends gaming and interacting with other players, the more their karma level.

2. Ratings are how other virtual users perceive a player based on their interactions in the space. Increasing the world discovery rate also helps earn more karma on the Somnium Space.

3. Building activity, public participation, and event organization are also parameters
that are essential for a player to increase their karma level.

Conclusion

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Somnium uses blockchain technology to enable users to monetize their VR experiences and empower them to create a world where they are the primary creators and recipients of value. While the gameplay on Somnium Space is virtual, it intends to establish an economy that transcends the physical world's limitations while staying in line with the principles of decentralization.



Author：Gate.io Researcher：M. Olatunji
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