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Economy

Mundis
Mundis
Mundis
Mundis

The tools and services that sustain our economy and growth and how they work.

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NFTs

In Mundis, Non-fungible assets (NFTs) have some important distinctions from fungible assets (tokens). Mundis NFTsmust be:

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  • Unique: each NFT is uniquely identified by an address in Mundis and optionally a storage hash for its resources.
  • Ownable: an NFT can be owned by a single citizen.
  • Immutable: once issued, an NFT cannot be destroyed or altered.
  • Transferrable: the ownership of an NFT can be transferred between citizens and a Layer 1 side-chain.
  • Displayable: an NFT can be optionally displayed in Layer 2 if it's MDS-722 compatible.
  • Categorizable: NFTs must adhere to an ontology in Mundis (i.e., digital art, avatar, car, shoes, etc.) defined in the MDS-723 standard.

Mundis NFTs will extend the Metaplex Protocol to support:

  • creating/minting NFTs
  • auctions for primary/secondary sales
  • visualizing NFTs in a standard way across wallets and applications
  • creating storefronts
  • royalties for collaborating on creating content
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We aim to standardize the NFT protocol to a greater extent, allowing anyone to easily mint, display, and monetize their creations in the Multiverse and all associated Metaverses.

Standards

To accommodate all useful NFT use cases, Mundis implements the following types of NFTs, as defined in the Metaplex protocol:

Master NFT
A master NFT is a non-fungible token and associated metadata that allows creators to control the provenance of prints created from the master NFT. Rights to create prints can be tokenized, and the owner of the master NFT can distribute additional tokens to allow users to create prints.

Additionally, the creator can set a max supply for the master NFT, just like a regular mint on Mundis, with the main difference being that each print is a numbered NFT created from it.

A notable and desirable effect of master NFTs is that as prints are sold, the artwork will remain visible in the artist's wallet as a master NFT, while prints NFTs appear in the purchaser's wallets.

Print NFT
A print NFT is a copy of a master NFT. Each print has a number associated with it to uniquely identify it. Prints can be created as a part of an auction on the Mundis NFT Marketplace, but can also be minted manually by the creator.

Standard NFT
A normal NFT (like a Master NFT) that is a non-fungible token and associated metadata, but lacks rights to print. It can be a one-of-a-kind artwork that when sold, is transferred from the artist's wallet to the purchaser's wallet.

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NFT Layer 2 attributes

  • The Boulevard and Side Streets
  • Avatar skill and ability
  • The Wardrobe Mall
  • The Boulevard Venues
  • The Workplace with its Virtual HQ and Hub
  • Skill and Ability enhancing
  • Object augmenting
  • Discount
  • Weather manipulation
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The Boulevardand Side Streets

Social and brand experiences will happen in a specific virtual interaction space you can access from your Mundis interface (and enter through your Personal Space). The Virtual Boulevard is a social space where you can explore and interact with other users or brands, play games, live meet, socialize, share information, and rate services, products, and brands.

Shape and urban style

The graphics of the Boulevard will attempt a highly realistic mirroring of life but will feature unique architecture and structures. The Boulevard itself will be shaped like a circle, with Side Streets developing on its exterior side. Side Street content will not be visible from the Boulevard, with users having to access the street to view its contents. A cycle of day-night will be kept on the Boulevard. On half of the Boulevard will be day and the other night. It will take 24h for a complete day-night cycle, with every spot on the Boulevard benefiting from both moods.

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NFT Royalties

Each NFT can be minted with configurable royalty payments that are then sent automatically back to the original creators whenever an artwork is resold on the NFT marketplace in the future.

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The Wardrobe Mall

The Wardrobe Mall is a peer-to-peer NFT decentralized exchange but will also be used to create and edit your avatar. For shopping purposes, an “according to life” avatar can be created, including detailed information like exact shoe size, skin tone, or hair complexion, but it will be kept private at your discretion and only used for your benefit, giving you detailed and specific options on what info you share with brands about the interaction with their products.

The Wardrobe Mall's purpose is to allow users to try out and experience virtual brand products, ease Real-Life acquisition, or acquire and use dedicated commercial products from any Metaverse right from their Wardrobe.

Some NFTs can be experienced directly on your avatar, like skins, clothing, or accessories. Others have different purposes in the Multiverse and can be used or experienced in various other places, can unlock abilities, enhance skills, or provide entry to key venues or events.

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The Boulevard Venues

Each side of the Boulevard will feature Venues, represented as buildings. These buildings are entry points to other metaverses or side-chain applications that range from a simple product gallery to a guided experience, or a complex game. They can feature custom-made economies, allowing gamified experiences that use digital assets or rules to incentivize participants.

Gaining access to the Mundis boulevard or its side streets is two-step. First, the entity needs to purchase a venue that can be placed on the Boulevard. This venue is an NFT and can be:

  • a bespoke building created by Mundis for special partners
  • a standard building with preconfigured branding options (e.g., dedicated info spaces, logos, or other info devices)

Purchasing the venue will enable the option to bid for a specific location on the Boulevard. Mundis holds auctions for all boulevard locations on a fixed schedule (e.g., trimestral) dictated by network consensus rules.

Boulevard auctions happen on-chain, so anyone that holds a venue NFT is free to submit their bid. Bids contain two pieces of information: the location on the Boulevard and the duration of the lease slot (e.g., max one year). Auction winners must lock up their bid in a bond for the duration of the lease slot at the beginning of the auction.

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The Workplace

A suite of helpful presentation tools, brand manifestation spaces, and management structures that allow modern business collaboration. The Workplace is a virtual workplace for online meetings, relaying content, and presentations. It's a virtual environment accessible from your Personal Space, with unique fixed camera modes optimized for different scenarios: presentations, meetings, concerts, workshops, or collaborative work.

Instant access to the Workplace will be provided via invitation links. Anyone can join a Workplace through the invitation link as a Guest. The primary purpose is to allow users to create an immersive communication and presentation experience by enhancing data visualization, staging, virtual object, and image manipulation and using compelling novel video and text integration mechanisms.

A set of avatar and interface customizations, object inventory, setups, and actions will be available by default, but 3rd party developers can contribute their content as NFTs.

The available camera modes help participants to focus their attention on the organizer by viewing the complete presentation scene, including text, video screens, effects, participants, and their feedback.

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The Virtual HQ

A Multiverse company office that can be created by any company. It is a private, customizable virtual space designed to help companies inform guests about their work, create experiences, or showcase their work. It will benefit from a personalized interface and action set, an adaptable display space, a programable user-experience tool, and meeting space that can accommodate various setups and scenery.

The HQ can be accessed from your Personal Space, but it can also be placed as a Venue, on the Boulevard or Side Streets.

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The Hub

A new way to enhance daily work experience in your company, do employee training and development, motivate your team, or have some fun.

The Hub is an organizational add-on to the Virtual HQ, offering multiple setups and controls. As a result, organizations can translate valuable processes in the virtual space, like brainstorming, presentations, project follow-up, and teambuilding. It will also allow the development of a healthy and engaging organizational culture using gamification elements and progressive accumulation.

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The NFT Marketplace

Creators can sell their content as NFTs in the NFT marketplace. The Marketplace will be available using an internet browser and in Layer 2. NFT sellers have the option to receive payment for their creations in any supported Mundis token.

Mundis allows creators to launch a custom storefront, like Shopify or WordPress. It provides a graphical interface to on-chain NFT system programs for creators, buyers, and curators of NFTs. In addition, the design and layout of storefronts can be customized either as a permanent store or a temporary place for a specific auction or collection.

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NFT Auctions

The NFT marketplace will support four types of auctions derived from English auctions:

  • Single Item: can be used to sell Standard NFTs and re-sell Print NFTs, as well as the sale of Master NFTs themselves (and the associated printing rights) if the artist so wishes.
  • Open Auction: requires the offering of a Master NFT that specifically has no fixed supply. The auction will only create Print NFTs for bidders. Each bidder is guaranteed to get a unique print. There are no "winners" in this type of auction.

    An open auction can:

    have a pre-set fixed price
    have the bid price set to the last offer
    have no price (be free)
  • Limited Auction: a Master NFT may be provided to the auction with several copies that represent the number of winner places. For each winner, a Print NFT will be minted and awarded to the winning bidder of that place. For example, the first-place winner will win Print #1; the second-place winner Print #2, and so forth.

  • Tiered Auction: a mix of the previous auction types as winning placements. For instance, the first-place winner could win a Print of Limited Edition NFT A, while the second-place winner could win a Standard NFT. In addition, participants who did not win could get a Participation Print NFT from the Master NFT.
  • Tiered Auction: a mix of the previous auction types as winning placements. For instance, the first-place winner could win a Print of Limited Edition NFT A, while the second-place winner could win a Standard NFT. In addition, participants who did not win could get a Participation Print NFT from the Master NFT.
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Wallet

Payments and earnings in Mundis are made using ecosystem tokens. The Metaverse app will include a non-custodial wallet to help users keep track and organize their funds, income, and expenses.

Through the wallet, users can store, stake, swap, and make transfers using Mundis ecosystem tokens. The wallet will also store NFTs and has built-in asset transfer capabilities between Layer 0 and Layer 1 chains. Citizens can teleport NFTs and tokens from other blockchains into Mundis.

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LaunchPad

The LaunchPad is the central point for exploring and investing in new projects, ideas, and auctions in the Mundis ecosystem.

Developers can build custom worlds, chains, and technology projects and advertise them on the Launchpad to gather Layer 1 Validator support and initial capital.

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LaunchPad TokenP rojects

Projects and ideas that require community involvement or financing should register on the Launchpad to describe their idea. A project may ask and receive community support for Layer 1 Validator seats and/or crowdfunding in exchange for the project's tokens. Each project will define its own rules, rewards, vesting schedule, and token release terms.

Anyone can request to publish their project on the Launchpad. However, to prevent malicious behavior, projects need to be vetted by Layer 0 Validators before having access to investors.

Access to Launchpad projects will be based on a "lottery format" to ensure fair access to all investors. Users can purchase up to 5 lottery tickets before a sale. Specifically, the exact number of tickets a user is given is determined based on their Mundis account balance "over 20 days." If a user maintains a sufficient account balance for said period "leading up to the day of the lottery," then they will reportedly be awarded "a maximum of 5 tickets per eligible account.".

The Launchpad will perform a transparent, randomized selection of lottery tickets 24 hours before the sale and users need to confirm how many tickets they want to purchase. Once a user confirms the number of tickets, it commits to purchase the number of tokens corresponding to the number of winning tickets."

Each new project listed on the Launchpad will reveal the maximum number of potential lottery ticket winners. Moreover, the specific "allocation amount" associated with each "winning ticket" will be announced "ahead of time." (e.g., 10,000 potential winning tickets, each representing 500 USD worth of tokens).

LaunchPad Auctions

Besides token projects, Mundis will also host regular auctions for Venue places on the Boulevard. Auctions use the candle mechanism to randomize the exact moment the winner of the auction is determined. Participants have a pre-set amount of time to place bids and, to ensure fair bidding, the time when the winner is determined is randomly decided on and retroactively applied to the highest bidders.

FUN FACT: Historically, candle auctions were used in the 16th century as a way to sell ships. At the beginning of an auction, the candle is lit and the highest bid at the time the candle runs out wins the ship. So, while there is an official end to the auction, a candle auction refers to the random spot in time that will determine the winner. This random spot is always before the official end of the auction.

In addition to direct participation by a single bidding entity, Mundis enables anyone to crowdsource support for their idea using the LaunchPad. In this approach, Mundis token holders can bond their tokens to signal support for a particular project in exchange for project-related benefits (e.g., airdrops, discounts, yield, and more) If the project wins, the bonded tokens are locked by the network for the duration of the lease, after which the tokens are unlocked and may be reclaimed by those who contributed.

If the auction is not won, the bonded funds are returned to their owners.

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DEX

A decentralized exchange (or DEX) is a peer-to-peer marketplace where transactions occur directly between crypto traders. Mundis provides a DEX for traders that wish to trade ecosystem tokens.

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Economy Development

Mundis relies on developers to expand its Multiverse with:

  • Content items packaged as NFTs for:
  • buildings
  • avatar mood add-ons, gestures, effects
  • avatar clothing & accessories
  • personal space layouts, scenery, items
  • workplace scenery, items
  • Content items will be designed in an open, interchangeable format like glTF (GL Transmission Format) to be easily displayed on the web, mobile, and 3rd party apps.
  • Custom experiences to be used in buildings, Private Space, and the Workplace (scenes, interactions). These experiences are usually guided interactions for a user in a spatially-restricted environment (e.g., visit a museum, an art gallery, a guided experience, or a quest).
  • Metaverses for complex scenarios like games, exhibitions, and VR environments. These worlds are built using the Construct builder app and contain their own 3d environment, rules, assets, interactions, and economy. A custom-built world can have its own Layer 1 side-chain for governance, tokens, and economic rules.
  • New technologies for extending Mundis with additional capabilities (data oracles, DeFI, GameFi, payment protocols, or others.). These developments will always be done using Layer 1 side-chains and are usually showcased in the Launchpad. Mundis provides its own Substrate-compatible SDK for developing Layer 1 side-chains.
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