The metaverse track project has regained attention under the recent call of CZ, and the marketing method of cooperating with Jay Chou has made Highstreet catch up with this wave. According to CoinGecko data, Highstreet’s native Token and Genesis NFT Forever Fomo Duck Squad's floor prices have all seen large increases.
Self-proclaimed “Shopify on the chain,” Highstreet is a commerce-focused Metaverse platform that combines shopping, gaming, NFTs, traditional and cryptocurrency brands with an MMORPG (massively multiplayer online role-playing game) gaming experience. Highstreet was founded by Travis Wu and Jenny Guo. The project was formerly known as LumiereVR, and LumiereVR is a company established in 2015 with virtual reality technology as its main business content. The predecessor of the VR company and the cooperation with excellent hardware manufacturers such as HTC have given Highstreet a technical foundation to build in the Metaverse.
Like Axie Infinity, Star Atlas and other projects, Highstreet adopts the dual Token mechanism of HIGH and STREET.
Main uses of Token HIGH: (1) Pledge: holders can pledge LP or single Token, (2) platform governance: holders will be able to create proposals and votes on the chain, (3) in-game transactions: can be used for To trade real estate or limited-edition products in the Highstreet market, the total amount of Token is capped at 100 million (according to CoinMarketCap data, the current Token HIGH has about 30 million in circulation).
STREET Cred is the in-game Token of Highstreet World. The Token has no fixed supply and is properly inflated with the increase of players and the progress of the game. Players can obtain the Token through activities such as hunting monsters, completing tasks, and treasure hunts. Players can also use Token HIGH to purchase STREET Cred, but only merchants and players with specific levels can cash STREET Cred into Token HIGH.
Currently, Highstreet World consists of six explorable areas: Highstreet City, Binance Beach, AVAX Alps, Asteroid 325, Animoca Archipelago, and Republic Realm. Players can complete tasks in these areas to improve their player level and professional level. Various activities such as purchasing houses, game battles, and domesticating pet NFTs can be carried out. The center of Highstreet World is Solera Continent. Newcomers (Freshmints) who enter the game must complete the two tasks of Proof of Mind and Proof of Strength on Freshmint Island to obtain the title of "Explorer" before they are eligible to enter Solera Continent. Players can currently log in to the metaverse platform through PC, mobile phone or VR.
In the metaverse track, metaverse projects with VR games are common, but metaverse projects with strong virtual and real interoperability are not common. In Highstreet World, the concept of asset flow has a new narrative. Not only funds can flow between the virtual world and the real world, but commodities can also flow between the two worlds. Highstreet integrates the shopping experience between virtual and real. Its NFTs are issued in the form of Phygital (digital assets linked to real-world products), also known as physical digital NFTs. The products in the game are all real brands that exist in reality, and players can exchange the products purchased in the game into physical products or NFT. For brands, this model can turn existing products into game assets, boosting brand marketing; for players, it brings in-game shopping into the real world, blurring the boundary between reality and virtuality, and players are also convinced High-degree experience, improve the sense of immersion in the metaverse.
The key point is the Highstreet Market, which is a market where Highstreet World can exchange limited edition products. Each item has a physical equivalent. Users can not only access it directly through the browser, but also participate in the metaverse. Highstreet World's FOMO Tower Roof enters the market. Highstreet Market brings the concept of DeFi into actual products. When using this market, Highstreet Market will use the Bonding Curve to ensure the liquidity of the product. Under the automatic price discovery mechanism, the price of the item will fluctuate with each purchase . The bonding curve is similar to acting as an AMM automatic market maker, always ensuring that there is an opponent, so whether it is speculation, or the direct purchase behavior of the community or fans will affect the price; at the same time, the brand can customize the exclusive bonding curve to make it steep or Flat, in order to incentivize more transactions or offline product redemption.
In addition, Highstreet has set up a unique VR crypto lounge Cyberbar, which fills the gap where cryptocurrency users have previously been face-to-face. Players can meet with potential buyers or sellers face-to-face in the form of VR in Cyberbar, discuss the terms of the transaction and complete the transaction.
But it needs to be clear that the current popularity of Highstreet is related to celebrity effects. In CZ's recent AMA, Binance is more willing to invest in virtual reality (VR) or metaverse games. Highstreet fits the bill perfectly for a market looking for a hype related track. Subsequently, the CEO of Highstreet announced on Twitter Space that he had reached a partnership with Jay Chou, the king of Asia, which made Highstreet's market attention full. However, no matter how big a star or celebrity is supporting the project, the celebrity effect it produces is only temporary. Whether the project can ultimately succeed depends on the construction of the project's fundamentals. Phanta Bear is a profound example.
Travis Wu, the founder and CEO of Highstreet, once said in an interview that Highstreet is essentially a Shopify of MMORPG games, and various brands can launch their own virtual stores in the metaverse they built. Highstreet, which breaks the barriers between the real world and the virtual world, not only has industry-leading VR technology advantages, but also has a commercial first-mover advantage in this track. As the first business-centric Metaverse platform, we can expect future Attract more big brand entities to directly construct metaverse through this platform.
refer to:
https://medium.com/highstreet-market/meet-highstreet-the-worlds-first-commerce-centered-metaverse-d92ac388f8fa
https://mp.weixin.qq.com/s/qt9m6Py1z0z7EbK2PDo7LQ
