Whenever we used to talk about NFTs, our scope was usually limited to sports memorabilia, illustrative characters, or digital artistry. However, in recent times, we have witnessed all sorts of NFTs, from major news agencies releasing their memorable moments to iconic brands releasing their classic items. Moreover, theoretically, the only thing that limits NFTs is our imaginations. There is a company though that is aiming to incorporate multiple disruptive technologies into the already disruptive blockchain technology: REALM an AR-based NFT platform.
What is REALM?
Realm is a cross-chain, community-driven project encouraging collectors and creators to express their artistic vision in the purest form: their own magical virtual realm.
It is an open-source project that allows you to create unique and customizable virtual ecosystems filled with NFTs. Users can also create genetically encoded living NFT pets, travel between realms via augmented reality (AR) and mint collectible NFTix. There is also the option of hosting exclusive exhibitions, and live audio streaming for connecting with friends and fans.
The platform is aiming to achieve unparalleled levels of player experience and creative freedom. Through their Godot open-source game engine, players have control over the space they create. And at last, there’s the platform token: $REALM: the primary utility token in the metaverse.
REALM introduces an entirely new way to showcase NFTs.
Most NFT marketplaces currently resemble basic iterations of most e-commerce websites. While the concept is fine, with the tremendous potential of NFTs, an arbitrary interface really limits the features NFTs have. To improve on this, Realm has created an interface where NFT artists have the opportunity to showcase their masterpieces in customizable VR/AR experiences. Not only that but viewers also have the chance to completely witness the creation in their ecosystem.
All assets within the realm ecosystem exist in some form of non-fungible token. They can also exist on multiple chains. Also, players on either Layer 2 Polygon, Ethereum, or Reef Chain can mint those NFTs.
At first, Realm will leverage their integration with OpenSea via API connections and their marketplace. With the vast NFT content on OpenSea, Realm can rapidly scale its interactions on the wider NFT ecosystem.
Introduction of NFTix.
NFTix is unique collectible NFTs providing access to a realm. Realm creators can grant NFTix holders any type of access privilege to their realm. This includes one-offs, time-limited events, and annual or perpetual memberships. It also provides utility to all manner of creators, from art galleries with multiple
exhibitions to time-sensitive private viewing events where an artist connects via live audio with their fans.
NFTix themselves are valuable works of art that are verifiably unique and provided by the realm event creator. Moreover, the market projection for ticket stubs and other memorabilia will grow considerably.
The $REALM Token.
The $REALM token is a cross-chain token that functions as the primary utility token within the Realm metaverse.
- Cross-Chain: $REALM is initially an ERC-20 token that is also available on Reef Chain, Polygon Layer 2, and BSC chains. It provides low-cost transactions for players. They can use one-click bridges to move their tokens between different chains.
- Purchases in realms: Players spend $REALM to purchase NFTix and access other realms, or purchase in-game consumables and cosmetic items.
- Rewards: $REALM is rewarded to players for interacting with the ecosystem including creating realms, exploring other realms, and loot box rewards.
- Staking: $REALM staking provides players with rewards and in-game advantages. Rewards are limited edition Layer 2 NFTs alongside access to exclusive realms and content.
- Governance: Holding $REALM tokens allows players to exercise key voting rights on major decisions. These decisions are about the future direction and development of the Realm ecosystem.
- Fees: 10% of all transactions carried out in $REALM tokens is equally divided between the Realm foundation and Realm development and operations.
The Realm Architecture.
The Realm engine consists of various technical features that’ll help creators personalize their own NFTs:
- A 3D engine to render 3D content and build experiences.
- A scripting system in which developers can code in GDScript or C++.
- A player-to-player (P2P) multiplayer library giving developers access to P2P connections. For example, coordinates, postures, voice chat and messaging.
- Import 3D models with automatic conversion pipelines for 2D and 3D assets.
- Easy tools (phone, VR, web, desktop) for creating and customizing existing 3D spaces like shops, galleries or even procedurally generated planets.
- Users can easily integrate Realm views into websites, art installations or even video games.
- License terms are automatically observed and enforced through the platform (e.g., CC BY-SA 3.0 license).
The Realm Foundation.
The community will distribute 25% of the total $REALM tokens in the next five years. Alongside this, the platform will also disperse platform fees providing financial power to the NFT gaming and art community.
Realm will also offer content creators grants to build art, games, and experiences using the Realm engine. Moreover, community DAO functions will allow holders to determine the direction
of creator grants and other community-funded initiatives.
With the flooding of NFTs making the NFT industry one of the fastest-growing ones, it’s a given to see innovations regarding the interface and interaction between users and NFTs. However, we have not seen a lot of interest from the industry in this aspect. It is also because of this that the majority of people underestimate NFTs. But REALM aims to change that.
REALM wants to propose a new through which we can interact with these non-fungible tokens. Its Realm engine and interactive interface and the backing of major supported networks throughout the network. REALM is clearly is looking at the forefront of the wildly popular industry and it’s safe to say, we’ll hear about the network more sooner than ever.