Economy

= THE METAWORLD ECONOMY =

OVERVIEW
The MetaWorld Economy is based on cryptocurrency and powered by the Ethereum block chain. You can create, experience and monetize simulation content and services using cryptocurrency.

MetaCoin (this name is pending change and is used herein as a placeholder only) is the primary transaction currency in MetaWorld. Coins are bought, sold, earned and exchanged in world using Blockchain technology. MetaCoin is an altcoin based on Ethereum and it will be exchangeable with other currencies.

Crypto is earned by completing simulation tasks such as hunting, fishing, selling products or loot. Citizens be able to buy trade sell things backed by MetaCoin and trade the coin on the market or exchange for real cash. Jobs in world pay you with MetaCoins, transferable to real cash. Cash investment in MetaWorld via end user purchases of Pioneer packages gets converted to crypto currency and is traded algorithmically. This process fuels the MetaWorld economy.

There are also hidden "crypto tokens", called Totems, in world that increase in value the longer they remain hidden. More about tokens below.

Players can purchase MetaCoin through the official site.

PURCHASES
There are three packages available for pioneers:

CRYPTO WALLET
The wallet runs on mobile, web, ar, vr platforms and facilitates the exchange of MetaCoin to Cash. Cash investment in MetaWorld via end user purchases of Pioneer packages gets converted to crypto currency and is traded algorithmically. This process fuels the MetaWorld economy.

LAND
Land evaluations are based on MetaCoin. Pioneers invest in vast scale simulated land parcels, making MetaWorld a first of its kind simulated reality, entirely owned by its inhabitants.

To buy land it is necessary to be a pioneer. There are three packages available for pioneers: Players can become pioneers through the official site.

TOTEMS
A totem is an item that is randomly found (mined) around the world and there is only one of each totem which makes them rare and collectible, which would raise the selling price since there extremely limited. These unique collectible crypto Totems are backed by MetaCoins and are hidden in the truly persistent world. The longer these items remain hidden the more MetaCoin value they accumulate.

Totem items hold value. You gesture to place then in your back pack. When an item worth MetaCoin is in your back pack, it will reflect in your wallet. MetaCoins are transfered using your wallet in the UI.

SIMULATED PRODUCTS
A public registry for unique simulated assets and their design, allow truly persistent entities to be sold and rights of owners and creators to be protected.