TOKAU’s new metaverse is collaborating with major players in a variety of fields, including music, entertainment, and fashion. Last year, social media took on a whole new meaning, with businesses and consumers alike becoming fascinated by the concept of the “metaverse” and the technology that underpins it.
The term “meta” has become ubiquitous, appearing in social feeds, news stories, and articles showcasing “overnight billionaires” who have made it big by grabbing a piece of the meta pie.
Now, TOKAU, a Japanese blockchain business, is creating MetaCity, the first metaverse network aimed at superstars and their admirers.
For those still unfamiliar, a “metaverse” is a 3D virtual reality into which individuals from all over the world can enter and interact with one another in real time. The space is constructed using blockchain technology, a permanent record system, and the data saved within the blockchain is known as non-fungible tokens, or NFTs.
NFTs have been incorporated into the normal business of huge organizations, while regular consumers are beginning to use them in their daily lives, based on the ideals of openness and decentralization that are key to Web 3.0. NFTs are being utilized as artwork, event tickets, software licenses, and fan club memberships, among other things.
Fans are not simply consumers in TOKAU’s MetaCity, which maps a 3D metaverse environment; they are also nodes in a sophisticated worldwide “SocialFi” (or “social-to-earn”) network where they can earn crypto tokens (a sort of exchangeable cryptocurrency) while they explore and play.
“There has been a shift in society’s social structure in recent years, and individuals now demand more access to the world around them,” says Nao Saito, MetaCity’s business development manager. “At MetaCity, we’ll provide our users the power to travel through time and space via virtual reality.”