Xpace, next-era flagship NFT with new economic logic, issued by IVS – Cointelegraph

xpace,-next-era-flagship-nft-with-new-economic-logic,-issued-by-ivs-–-cointelegraph

Xpace is the flagship nonfungible token (NFT) issued by Infinite Virtual Space (IVS). Xpace carries out cutting-edge designs around the virtual property rights (3D virtual space), the empowerment of physical space property rights, and the Decentralized Autonomous Organization (DAO), strive to make Xpace a benchmark for “virtual and physical worlds property rights” in 2022.

The world is still in the early stages of the metaverse and Web3, but one can eventually expect a distributed, free and user-led internet — a virtual world with more diversity, closer communication and a complete economic system.

IVS focuses on researching utility-scenario requirements and economic-logic constructions in metaverse ecology and is committed to creating a long-term attractive ecosystem consisting of virtual interactable spaces and economic systems. To summarize, Xpace will serve as an essential link to all of it.

These conceptual ideas are consistent with observed community needs. Although the NFT community has a large number of followers and a strong base of funding, there are shortcomings in asset empowerment and DAO construction. 

In the process of attempting to implement real asset corroboration with NFTs, metaverse integration, and DAO and virtual economic system construction, some groundbreaking solutions have been proposed by IVS. Xpace was launched after endless analysis, and it represents the industry-leading NFT empowerment solution and the gradual implementation of IVS’ vision.

Compared to existing NFT projects, Xpace — the prime NFT asset in the IVS ecosystem — offers its holders:

  • The right to use the X-engine to build one’s own virtual space and access the IVS.
  • Potential benefits from future IVS multichain space asset-issuance and sales.
  • Membership in the IVS Club, resulting in free minting access to limited avatar assets.
  • Benefits from the governance rights and shares of property rights of the physical space, Xpace-R.
  • For commercial activities such as concerts, movie premieres and other online-to-offline scenarios, Xpace holders could potentially receive discounts up to 100% off. 

On top of the rights listed above, Xpace holders will gain additional rights in governance corresponding to their rarity group. Space rarities are divided into three groups: Super-Rare, Premium and Classic, each corresponding to 19, 100 and 9880 NFTs, respectively.

  • Xpace holders in the Super-Rare group will be given the right to participate in the management decision-making processes of Xpace-R as committee members, such as rights for potential proposals on Xpace-R project-related naming processes.
  • Xpace holders in the Premium group will be granted support for business start-ups.
  • Xpace holders in the Classic group will be able to participate in the voting process for Xpace proposals.

Xpace-R refers to Xpace-Reality, which is a blockchain-themed commercial place in the metaverse. Xpace-R will be built as a globalized metaverse-themed exhibition and communication center. It is planned to be located in one of the most attractive and glamorous cities in the world. Holders of Xpace will obtain the property rights of Xpace-R, governance rights and operational rights and obtain benefits as a result.

IVS is a firm believer and practitioner of Web3 and the metaverse. It is a comprehensive solution provider for the metaverse and consists of X-Engine, a codeless user-generated-content 3D metaverse space-construction engine supporting virtual reality (VR) devices; IVS protocol, the blockchain protocol required to build the metaverse that links the virtual spaces to the blockchain; and an internal circulation-token economic model. All of these will aid IVS in building a metaverse ecology with a multichain structure. 

Founded in 2019, IVS has been developing X-engine for nearly three years, and it has been successfully commercialized for two years. X-engine touts an industry-leading technical architecture for VR equipment. The ultimate vision of IVS is to create a decentralized metaverse with diversified commercial scenarios.

IVS hopes to jointly govern and operate Xpace with DAO and gradually realize the decentralization of authority, morphing into a pure Web3 project driven by its committee community. IVS announced on Jan. 22 that it plans to invest $1 million to support the full construction of IVS DAO. IVS believes in the power of its community and hopes to participate in this adventurous journey with DAO.

To know more about the Xpace whitelist tournament, please join the IVS Discord. Follow the other links below:

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