Benzinga - Have you ever thought: What exactly is going on behind the scenes on a blockchain? Who are all these people and what are they doing? Is there an entire world there that is just out of sight, just beyond the horizon? What if we could bring that world to life? What if we could visualize what everyone was doing? This goes far far beyond addresses and balances, this would be about tying together and understanding the context of all of a user's activity, on and off the chain. If we could do this we could understand who was doing the most to push the ecosystem forward, celebrate them, and even reward them. What's more, we could even incentivize others to do the same.
This vision is exactly what the team at Phala Network is building with PhalaWorld.
PhalaWorld: Soulbound Concept
PhalaWorld is a digital representation of a user’s progression on the Phala Network. PhalaWorld uses a soulbound non-fungible token (NFT) system first conceptualized in the article “Soulbound”, published by Vitalik Buterin. It emphasizes the concept of “proof of attendance” derived from World of Warcraft. Players need to participate in certain activities to acquire the most powerful Soulbound items, rather than simply buying them with money. With soulbound NFTs, players can possess unique items and characters that cannot be transferred. This system creates a unique avatar that players can show off, something that is unique and has been truly earned. A reputation that means something.The underlying standard of the NFTs is RMRK 2.0, which allows composability. Phala says PhalaWorld is one of the first projects to implement the soulbound concept, which enables it to create the play-to-build (P2B) concept. P2B brings together communities and encourages them to play and build their own characters.
Gate Pass To PhalaWorld
Two prerequisites are needed to enter PhalaWorld's gaming ecosystem: Spirit NFT and Shell NFT.Spirit NFT is what identifies a user in PhalaWorld. It is a soulbound token (SBT) 2.0 NFT, which makes it nontransferable so it is only available to one user. Anyone can claim a free-mint Spirit, but its level depends on the player's actions. Players can level their Spirit by continuously contributing to the Phala Network.
Shell NFT corresponds to the user's appearance in PhalaWorld and can be sold or transferred. Depending on the Spirit level, players can perform advanced visuals on their Shell NFT. Shell NFT differs from traditional profile picture (PFP) NFT in that users are given the ability to customize it.
In the earlier version of PhalaWorld Shell NFT, minting a Shell that a player would like was purely by chance, but after adjusting the strategy, players will now be able to get an NFT they like at a fair price, enabling them to take control of how their character looks.
Apart from the two, there is seal NFT, which is the evidence of all the activities a user has been involved with. The company says they have a storyline that makes participation more immersive and fun.
The Future of PhalaWorld
The PhalaWorld Marketplace has just launched recently, and you are able to trade your Shell NFTs and browse through the Ultra-High-Definition NFTs other users have minted and designed. The team is also working on gamification of PhalaWorld, aiming to bring more utilities and fun to the users. PhalaWorld is just at the beginning of exploring where its vision can go. Having laid down the foundation of a playable character, a Spirit + Shell, the question now is where can the players go, what can they do? In life people tend to only do something if they care about it and to care about it they need to see it, to feel it. The challenge for PhalaWorld now is to expose and visualize important aspects of the underlying ecosystem and incentivize the PhalaWorld player base to participate and contribute value in the right places.Featured photo by RossHelen on Shutterstock
This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.