Lost in the Metaverse – A New Sci-Fi NFT Project Launching on Ethereum

Non-fungible tokens (or NFTs) represent one of the blockchain niches that has managed to attract most of the attention of investors. NFT allow every digital artist to store and sell their artworks with the guarantee of having a virtual ownership certificate.

“Lost in the Metaverse” is one of the latest projects entering the NFT art hype, and we will share several details on this collection with the readers. Our overview will keep a neutral point of view, leaving the market to judge the value of this new initiative.

Lost in the Metaverse – The Project Narrative

The plot centers around the character ApeDad 2662, who starts off as a hipster working at a computer company and ends up lost in the metaverse.

lost in the metaverse NFTs
Source: LostInTheMetaverse.com

He chooses to manufacture free royalty NFTs at the end of the story to share the beautiful sensation of oneness he encountered while immersed in the fabric of the metaverse.

According to the story, 2662 overheard a coworker talking to the Pentagon and attempted to locate an experimental time travel gadget. Instead, however, he was shot with a frequency set for de-materialization.

The collection’s handmade 3D graphics depicts ApeDad 2662’s journey through the Metaverse. Meanwhile, the original music should create an audio experience. After being flattened into two dimensions and pixelated, the hero is reduced to nothing more than his basic black and white dots. He then goes through every possible manifestation of himself until abruptly vanishing and being “lost in the Metaverse.”

However, when 2662 chooses to develop a new means to “spread the bliss of Oneness” by offering free royalty sharing NFTs to top collectors, his fate becomes a boon for NFT collectors.

Current Features of the Project

As of now, the team has worked on the following aspects:

  • Launch of Minting Website in React.js for the direct minting of 1,111 3D NFTs
  • Realization of a graphic Sci-Fi short story to back up the project’s narrative
  • Creation of three music videos presenting the original soundtrack of the NFT collection.
  • “Royalty NFTs”: the project’s system to share royalties and incentivize NFT collectors.

While the first three features are relatively straightforward to understand, we decided to dedicate the following section to the Royalty NFTs mechanism.

Royalty NFTs

The team promised that the minting of Royalty NFTs (from now on, RNFTs) would be a free operation for any wallet meeting the “Top Collector” criteria. To join the “Top Collector” group, a wallet should meet these criteria:

  • Holding at least three NFTs from the primary collection (i.e., its first 1,111 NFTs on the market).
  • Holding NFTs containing “3D”, “OG,” and “pixelated” under the “Character” field. Notably, “3D” NFTs are commonly present in the system. Meanwhile, “OG” and “pixelated” NFTs are rarer.

After minting ends, the resulting RNFTs will strictly associate with a wallet, and they won’t be transferable.

The developers aim to make the mechanism more attractive for investors and collectors. To this end, a percentage of all secondary royalties from the primary collection of NFTs will go to RNFTs holders.

Just like most NFT and crypto projects, Lost in the Metaverse is betting on the concept of scarcity to attract investors. Specifically, the maximum supply of RNFTs will be 101 samples, which will get 100 percent of the creator royalties (set at 11 percent on Rarible and 10 percent on OpenSea).

The project’s website allows holders to claim their royalties at any time by logging into their accounts. After minting RNFT, investors will be able to transfer their NFTs belonging to the project’s primary collection.

It will be possible to use one of the NFTs coming from the primary collection only once to mint RNFT. So, the system will set the technical variable “Can Mint” of an NFT to “No” after the minting operation ends.

The team explained that, out of 1,111 NFTs, around 200 mint combinations of free royalty NFTs exist. Consequently, not everyone buying and holding NFTs can obtain this minting right. Simply put, the conditions above need to be valid for that to happen.

Future Developments

The team informed the public that its current plans include two main features:

  • Merged Claim: It will be possible for eleven wallets to join an automated pool simultaneously. These wallet-owners will claim royalties in a single transaction simultaneously when gas prices are at a 24-hour low.
  • Decentralized Governance Structure: Any wallet that has an RNFT will be able to submit a proposal using this functionality. Submissions must first receive the official approval from a majority vote of other RNFT holders. If the community pre-approves the matter, it will be go through a general vote from all NFT and RNFT holders.

Final Thoughts

Our quick overview summarized several features of the “Lost in the Metaverse” NFT project. The team behind the initiative wishes to attract the favor of investors and collectors. To this end, it uses a straightforward narrative and a royalty-based system.

Ethereum live price
price change

The developers have recently activated the minting functionality, and anyone wishing to learn more about the project can join its social media channels (Twitter, Discord, and Youtube).

Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects cryptocurrencies listed, mentioned, or linked to on our site. Trading cryptocurrencies is a highly risky activity that can lead to major losses. You should consult your financial advisor before making any decision. Learn More

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