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).


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