Token Economic Model Implementation
Representation of the token economic model
Token payment:
Creating virtual avatars, unlocking advanced scenarios, registering for events, purchasing props, etc., require the use of PetToken tokens (e.g.: creating an avatar 10 PetToken, event registration 10 PetToken).
Estimated quarterly consumption of 30,000+ PetToken in metaverse services (based on user engagement).
Token rewards:
Virtual competitions and events offer PetToken token rewards (e.g.: virtual talent show champion 200 PetToken).
Users earn token shares through likes and gift interactions (e.g.: receiving 10 likes earns 5 PetToken).
NFT trading:
Limited NFT props (e.g.: virtual crowns) can be traded in the market, settled using PetToken tokens, with the platform charging a 2.5% transaction fee.
Part of the transaction fee revenue goes back to the reward pool, and part is used for platform operations, promoting the token ecosystem’s closed loop.
Token demand:
Users need to hold PetToken tokens to participate in metaverse activities, driving token demand.
Staking bonus: Users staking PetToken can gain metaverse privileges (e.g.: free access to advanced scenarios), encouraging long-term holding.
Technical Support
Blockchain and NFT:
Virtual avatars and props are based on the Solana blockchain, using the SPL standard, with metadata stored on IPFS to ensure decentralization.
Transactions and payments are executed through smart contracts. The code is open-source and subject to community auditing.
Metaverse Platform:
Developing 3D virtual spaces using Unity or Unreal Engine, supporting WebGL browser access.
Future plans include support for VR/AR devices (such as Oculus Quest) via the WebXR protocol.
Wallet Integration:
Users must connect a Solana-compatible wallet (e.g., Phantom) to enter the metaverse, verify their identity, and NFT ownership.
The platform provides a wallet connection tutorial to ensure user-friendly operation.
Performance Optimization:
Multi-chain solutions to optimize the NFT minting and trading experience.
Dynamic loading of scene resources to ensure smooth operation on low-spec devices.
Fairness and Transparency
Activity fairness: Results of virtual competitions are automatically judged by the system, data is stored on-chain to prevent tampering.
Transaction transparency: NFT transaction records are publicly available on the blockchain and can be verified via Solscan.
Community oversight: Users can question metaverse activities, and the platform will verify and respond using on-chain data.
Expected Outcomes
User participation: It is expected that more than 4,000 users will engage in metaverse services each quarter (based on the interests of pet enthusiasts and crypto players).
Token circulation: Metaverse services are expected to drive the circulation of 30,000+ PetTokens quarterly (payments + rewards + transactions).
Platform innovation: The metaverse section enhances the PetToken brand image, attracting tech enthusiasts and crypto players.
Example Scenarios
User Bob uses Max's NFT profile to create a virtual avatar, paying 10 PetTokens to enter the metaverse.
Bob and Max participate in the "Virtual Pet Obstacle Race," paying a 10 PetToken registration fee, winning the championship, and earning 200 PetTokens and an NFT virtual gold medal.
Bob purchases a virtual crown (50 PetTokens) at the metaverse store, mints it into an NFT, and sells it on the market for 100 PetTokens, with the platform charging a 2.5 PetToken transaction fee.
Bob hosts Max's birthday party, paying 20 PetTokens to rent a venue, inviting friends, and receiving 5 virtual gifts (a total of 10 PetTokens).
PetStar's metaverse service section provides an immersive experience for users through virtual pet avatars, interactive spaces, activities, NFT transactions, and social features. It deeply integrates a token economic model to enhance user engagement and platform innovation. Blockchain technology and smart contracts ensure transparent and fair services, adding new momentum to the platform's long-term development.
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