- Overeality is now shifting its focus to the metaverse.
- The platform recently launched the Football Community metaverse.
- Music DAO, Art DAO, and Fashion DAO will be launched in the coming months.
Overeality started as a multi-chain non-fungible token (NFT) infrastructure and is now shifting its focus to the metaverse — a sector poised to become a $1 trillion market by 2030. Nevertheless, NFTs still play a key role in Overeality’s business model now that the platform is adding new features to unleash the full potential for metaverse and create a Web 3.0 world for the people.
Overeality is a metaverse platform that gives everyone a voice and the opportunity to be part of a community with the same interests. The ecosystem comprises several communities, including football, art, music, and fashion, among others. Each community is driven by a blockchain-powered decentralized autonomous organization (DAO).
Recently, the platform has launched the Football Community, which is the first and only DAO so far. The community provides an entertaining virtual space for the 3.5 billion football fans worldwide, who can interact with their favorite football players. Overeality has already partnered with big football stars, including Colombian player James Rodriguez, who scored the best goal in the FIFA World Cup 2014, andVinicius Junior, who helped Real Madrid reach the Champions League final this year.
Overeality will introduce new features that will ensure blockchain interoperability for NFTs, enable developers to build apps in Web 3.0 conveniently, and empower communities.
Overeality acts as a Layer 2 solution to ensure NFT interoperability between major blockchains, such as Ethereum and BNB Chain. The platform will allow developers to build metaverse dapps, including NFT marketplaces, DAO launchpads, decentralized exchanges (DEXes), social networks, and GameFi solutions, among others.
The ecosystem opens up the design space for metaverse and NFT through innovations like smart NFT containers, DAO/DAC systems, and decentralized web3 identities. Here is what they provide:
- Overeality ID enables decentralized identities (DID) in the metaverse, which protects data privacy thanks to zero-knowledge proofs that link users’ metaverse ID with their real-world IDs.
- Smart NFT containers represent programmable NFT frameworks that support dynamic updates and embeddings of data.
- Overeality DAC is an interoperable DAO system supporting day-to-day operations and governance for metaverse communities and social networks.
Overeality Builds an Economy for Interest-Driven DAOs
DAOs play an important role in Overality’s ecosystem. The platform will host multiple interest-driven DAOs, including the earlier launched Football Community. DAOs can issue both traditional and smart NFTs on other chains, as well as DAO tokens. Users can buy DAO tokens in exchange for any ERC-20 token. The DAO tokens act as governance tokens for the respective community, giving users voting power. Each DAO can design its own tokenomics regarding the fan tokens.
DAO members have the power to make DAO proposals, which can be eventually voted by the community to approve or disapprove them. DAOs will also have their treasury of digital assets that will be used by all DAO members. Again, the number of treasury assets and the way they are used will be determined through the DAO governance voting.
In general, DAOs have a lot of independence on the platform. They can hold their events, both online and in-person, as long as the event proposals are first approved by the community. DAOs can issue their NFTs with their user-generated content, whose utilities can be dictated by DAO members. Speaking about DAO members, they can communicate with each other through various channels offered by Overeality, as well as the channels devised by DAO members themselves.
Following the launch of Football DAO, Overeality is ready to deploy the Music DAO, Art DAO, and Fashion DAO in the coming months.
Overeality is building a multi-functional metaverse for the people. Thanks to its multi-chain infrastructure, innovative features, and high-profile partnerships, the ecosystem is poised to expand rapidly.