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Anyone who has participated in metaverse gaming can attest that many of these platforms have become run by a select few gaming organizations. Much like real life, these groups have concentrated their power to retain their control within the ecosystem. Now, vEMPIRE seeks to return these communities to their rightful owners – you.
Notably, the project was selected as the fourth protocol out of 450 to be included on Unicrypt’s Incubated ILO Launchpad. The network intends to release its native governance and utility token VEMP at the end of the month. This launch will also be accompanied by the full launch of an NFT collectibles game and treasure hunt.
What Problems Does vEMPIRE Attempt to Fix?
There are a lot of issues that vEMPIRE seeks to rectify in the market. Primarily, the protocol operates as a Democratic Decentralized Autonomous Organization (DDAO). The group seeks to incentivize gamers to fight centralization wherever it pops up. Currently, the top decentralized games suffer due to these issues. These games, such as Decentraland, have become a capitalist haven of advertising and user exploitation.
vEMPIRE understands that it’s up to the users and the community to police protocols in the decentralized gaming sphere. The developers behind the project believe that these extreme measures are necessary to prevent a financial meltdown in these games. In this way, vEMPIRE is unique. No other platform has come out with the stated intention to invade other networks.
vEMPIRE is the first protocol, to their knowledge, which incentivizes the staking of Metaverse tokens, such as MANA & SAND, onto its platform. These staking pools are each given a certain amount of tokens per block from the VEMP emissions schedule. This will pay stakers a handsome yield. A key feature of monetizing Metaverse land purchased is that profits will be compounded within the vEMPIRE pools by reinvesting; this means a secondary yield will be paid in the token staked, and the reinvestment should help offset any dilution as the pools grow.
Alongside the above, there are a variety of features and benefits that vEMPIRE users will enjoy. For one, the project’s NFT, and DeFi functions provide multiple ways users can profit. Also, the network’s open-source code provides a high level of transparency to the market. In this way, users can be sure that they are part of a community dedicated to the cause of decentralization.
There’s a combination of features that work together to enable vEMPIRE to accomplish its task. The network combines an advanced DAO, staking features, a cryptocurrency, and an NFT treasure hunt to provide a completely new user experience. Here are some of the vital components of the ecosystem.
At the center of vEMPIRE’s functionality is the vEMPIRE DDAO. This “Democratic DAO” as developers refer to it, improves the traditional DAO systems in multiple ways. For one, it doesn’t base votes on the number of tokens you hold. Instead, every wallet has one vote. This strategy provides the community members with an equal say in the network’s future developments.
Currently, most DAOs operate based on a weighted voting system. The more tokens you hold, the more control you have. While this may be good in ensuring those with the most invested have the most say, it’s horrible for decentralization. What normally happens in these systems is the developers and whales retain full control over the network while regular users are relegated to the background. vEMPIRE eliminates this problem via its DDAO protocol.
As mentioned in vEMPIRE features, another crucial element of the network is its staking services. Users can stake their metaverse tokens and earn significant rewards. Staking is the process of locking your cryptocurrency in a network smart contract for a predetermined time. The more tokens you stake and the longer the time, the more rewards you secure.
Anyone can secure a passive income by staking their VEMP tokens. Staking provides an easier alternative to trading. Additionally, you can expect more consistent returns when staking versus trading. Consequently, staking is one of the most popular DeFi features in the industry.
NFT Card Game
Last month, vEMPIRE introduced an NFT collectibles game and treasure hunt, the Emperor’s Parchments. As part of the strategy, the company sells its trading cards as collectible NFTs. Each of these NFTs contained clues in the form of letters and numbers. This month, the developers have listed 99 NFTs on Opensea, with only 18 left.
Together, these NFTs will spell out clues that will lead users to certain influencers. Then, the users will need to Tweet these influencers to unlock the final clues. Uniquely, the treasure hunt will reward the winner with millions in prizes.
When discussing the company’s unique strategy, the firm’s CEO, Dominic Ryder, stated that the treasure hunt would take years to complete, and the prizes would be massive. Specifically, he stated that prizes up to 1% of the total VEMP, or around $5 million if vEmpire reaches even half the size of MANA, would fall in line with the community’s goals. This strategy makes the Emperor’s Parchments one of the largest and most immersive treasure hunt games in existence.
Users must hold VEMP to interact with many of the features on vEMPIRE. For one, you need VEMP tokens to cast votes via the community governance mechanism. You can also use VEMP to send value globally in seconds. The token provides fast transaction times, scalability over a secure peer-to-peer network.
vEMPIRE – The Community is Coming for their Games
vEMPIRE represents an increased understanding of the organizational powers of a community. Projects like this are required to ensure that the market remains decentralized as it develops. It will be interesting to see the effects of this strategy as some of the largest “decentralized” communities must now answer to their users. Those seeking more information on the vEMPIRE movement can find it here.
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