Virtual Reality gaming has grown in popularity as technology advances to provide truly immersive experiences. VR platforms such as AltSpace, VRChat, Rumii, and Engage have become popular for everything from remote social interaction to business meetings. In this article, we’ll look at Somnium Space, a superb Metaverse platform.
While other metaverse platforms have emphasized the value of virtual reality (VR) and immersive experiences, Somnium Space is a metaverse with a different goal. It allows users to participate via a downloadable VR client or a browser-based version that functions similarly to any other web app.
What Is Somnium Space?
Somnium Space is a virtual reality (VR) world built on the Ethereum blockchain that allows its users to purchase digital land, homes, buildings, and a plethora of valuable in-game assets in its online multiverse.
Unlike traditional multiplayer VR games that divide users into sub servers and mirrored-instanced rooms, Somnium Space hosts all players in one vast world. Users can create Somnium Space environments within that larger VR universe, which are fully programmable, customizable, and independent VR experiences.
How Somnium Space Works
Somnium Space allows users to purchase “land parcels” on which to build whatever they want. Somnium users can claim ownership of the land in the same way that they would in the real world. Land in the city, like in real life, is more expensive due to its intrinsic attractiveness than acreage in the middle of nowhere.
Somnium has created a world that is optimized for a variety of applications, such as Mobile VR, PC VR, Android applications, and so on, to ensure seamless deployment in the future.
Somnium spaces operate with four elements:
- Software Development Kits (SDK) help create and customize digital land, properties, and avatars.
- Virtual Reality Experiences **** A complete builder module that helps create digital environments and structures for playing the game.
- NFT marketplace – Helps in trading and monetizing digital properties created by the users.
- NFT-based assets – Helps incorporate NFT assets from the entire blockchain universe and use them in Somnium space.
Unique Features of Somnium Space
Every project has inherent elements that make it exciting for the users. Somnium has such features which will be utilized by players of the game to further develop the entire ecosystem. These features include but are not limited to:
Blockchain Integration
This is where DeFi functionalities come into play. In the Somnium platform, true ownership of digital goods, avatars, items, and virtual land is allowed as well as other monetization structures for all creators. So the experience is not just immersive but economical.
Monetize Your Space
There is a programmatic VR advertisement plugin that users can use to make more money in Somnium Space. Just like is seen in the real world where billboards and buildings are used for advertisement, the Somnium ecosystem allows users to do the same – the new face of marketing.
Cross-Platform Capacity
The Somnium ecosystem is accessible through all major VR headsets. This gives users a unique advantage of using a wearable of their choice and still having access to enjoy the experience of Somnium.
Customizable PC Client
Users have the option to time their space or environment to the outlook they desire. The goal of this is to boost creativity and bring about flexibility to what anyone can do in the Somnium Space.
Live Forever
According to the website, this is an “Automatic recording mode of yourself on your property for future AI analysis to bring your avatar to life.” This can help to create a sync between your personality and whatever avatar you represent yourself with in the space. It’s also connected to data illustration and analysis.
Marketplace
This is where items can be traded without leaving the environment. Utilities in form of NFTs that are used can be traded for something else like the token of the metaverse or other NFTs.
Somnium Space Token
The Somnium Space economy is comprised of three different types of token assets. Let’s have a look at all three:
Somnium Space’s Cube Token (CUBE)
Somnium Cube (CUBE) is an ERC-20 token that serves as the Somnium Space platform’s native utility token. The CUBE cryptocurrency streamlines in-game transactions between players and can be considered the equivalent of buying game tokens at an arcade. With an Ethereum wallet, players can hold ETH, CUBE, and NFTs (ERC-721 tokens).
CUBE serves as a bridge between these assets to facilitate in-game, e-commerce transactions. As the Somnium metaverse expands, the CUBE token will develop in-world utility and allow players to exist more deeply in the VR metaverse.
Somnium Space Land Parcels (PARCELs)
Somnium Space conducted two of what it calls Initial Land Offerings (ILOs) when issuing Land Parcels (PARCELs) to platform stakeholders — both on the OpenSea NFT marketplace. If players want to build an independent Somnium world they must first obtain one of these land parcels. Players can also place any NFT on their land parcel and explore it in VR.
Somnium Space Avatars (AVATARs)
In November 2020, the Somnium Space team took another step towards expanding the utility of the CUBE token by introducing avatar (AVATAR) tokenization. Players can now mint their own full-body VR avatars onto the blockchain using CUBE. To participate, players purchase an avatar using CUBE and it becomes part of their inventory. These avatars are compatible with virtual worlds across major digital platforms.
The CUBE token also allows players to buy another user’s avatar as an NFT. CUBE in the buyer’s wallet is exchanged for the NFT in the seller’s wallet during the transaction. The ability to build avatars within the Somnium metaverse highlights the growing utility of CUBE tokens.
How To Buy Land On Somnium Space
Somnium Space does not require visitors to buy land to check out the metaverse. However, if you want to create, build and invest in the space, then you will need to know how to purchase land. Land can be bought and sold on the Somnium Space marketplace.
Each land parcel is a non-fungible token (NFT), meaning that each parcel is unique and cannot be replicated. All land parcels in Somnium Space are stored on the Ethereum blockchain giving you true ownership and full customization.
To buy land in Somnium Space, follow these steps:
Step 1: Get a web3 wallet like Metamask
MetaMask is a web3 wallet application for those wishing to interact with the Ethereum blockchain. You can access MetaMask via a browser extension or a mobile app found on Google Play and the iOS App Store.
- If you are just getting started, you will need to send ETH to your account from an exchange such as Coinbase
- Make sure that you do this before picking out the land, since it may take several days to transfer ETH to your wallet
Step 2: View Land Parcels on the Web Map
The Somnium Space web map can be found here. The cool fact about this platform is that you can get a nice sneak peek of each property without having to register for anything or download any application.
The user interface on the web map is fairly straightforward and provides some useful info such as:
- Parcel height
- Sale price and last price
- You can highlight recently listed parcels
- A heat map of parcel prices is available
When you click on a parcel, you are shown a link to the listing on OpenSea. You can view one land location at a time on the web browser by either joining as a guest or logging in. To view the full world, you must download the VR client from the main page and follow the instructions.
Step 3: Buy Land on the Somnium Space marketplace
Once you have clicked on the Somnium Space Marketplace link for any particular parcel, you will be redirected to a web page with the listing. You can purchase land via auction or buy now depending on how the parcel is listed. You’ll notice the following:
- Parcel dimensions are shown in the description
- Clicking on properties shows how common the parcel’s traits are in comparison with all the properties on the map
- The current highest offer is shown, as well as a price history (if there is any sales history)
Somnium Space Team
Artur Sychov is the founder and CEO of SomniumSpace.
Tatsiana Sychov is the money woman acting as the Chief Financial Officer.
Sasha LeBaron is the Community Manager for Somnium Space.
Fernando Gonzalez serves as the Lead UI Designer.
Vadim Kupchinsky the Lead Blockchain Developer.
Alexander Isaev the Lead VR Developer.
FAQ
How Does Somnium Space Make Money?
Somnium makes money through land offerings, in-game purchases, and advertisements as well as through conducting virtual events in the metaverse.
How Can I Benefit From Buying Virtual Land?
You can make money by selling tokenized digital assets and avatars, setting up a virtual studio within Somnium Space, showcasing and monetizing virtual experiences, having a retail presence within Somnium, and selling brief demonstrations (or entire games/experiences).
Is Somnium Space Centralized Or Decentralized?
Somnium was initially centralized but the organization has adopted many decentralized features over time.
Conclusion
Somnium Space is a free-to-play blockchain-based NFT virtual-reality metaverse where users can create virtual lands, play, work, trade, and earn money. The metaverse is a hybrid of the real world, augmented reality, and virtual reality. Consider it a 3D Internet where you can interact with friends, work, travel, attend events, and purchase goods and services.
