Project Name: OpenMeta Protocol
Author Name: Hashim (@Leo_CP )
Number of OP tokens requested:
L2 Recipient Address:
Relevant Usage Metrics: (TVL, transactions, volume, unique addresses, etc.)
NA as the project is not launched yet
Optimism alignment (200 word explanation):
Open Meta is a protocol and open source SDK for game engines aiming to bring NFTs to mainstream gaming and the open Metaverse. Our protocol aim to give NFTs limitless utility within an open ecosystem made from games, virtual experiences and immersive applications. Our main objective is to enable publishers to create a new wave of NFT collections that are both cross-chain and Metaverse-ready.
We are looking to encourage adoption of the Optimism ecosystem by setting it as the default chain for the protocol’s main activities, as well as for any game or immersive experiences using our SDK, and enabling a cross-chain mechanism which will allow users to bridge their NFTs from multiple chains to Optimism.
We plan to use the following strategies to help Optimism to become the default protocol for GamFi and the open Metaverse:
- Our Unreal Engine SDK will set NFT minting on Optimism by default
- Users will be encouraged to bridge their existing NFTs to Optimism
- 25% of the generated income from fees will be used to support liquidity on Optimism and public goods
- All new immersive DAOs will be deployed on Optimism by default
- We will encourage organic adoption of Optimism within the NFT space and demonstrate the benefits of building Optimism-native games, virtual experiences, immersive DAOs and applications for the open Metaverse
We believe that gaming is an important ingredient for mass adoption which will help bring healthy liquidity to Optimism and we believe that our SDK will help Optimism to become the protocol for mainstream games and immersive experiences utilizing NFTs.
Proposal for token distribution (under 1000 words):
Builders (50% - 175,000 OP tokens )
Open Meta is aiming to create a thriving Gaming and Metaverse ecosystem built on Optimism and to support the builders who successfully integrate our SDK and use Optimism as the default network for their products and NFT collections. Builders will be able to unlock a funding grant upon meeting certain requirements and achieving on-chain milestones.
- Releasing Unreal engine 5 game or immersive experience on a mainstream platform and utilizing NFT collections on Optimism - 2000 OP Tokens
- Minting a metaverse-ready NFT collection of at least 5000 3D digital assets on Optimism using our SDK - 2000 OP tokens
- Completing 100,000 on-chain transactions ( NFT sell, rent, bids… ) - 1000 OP tokens
Users ( 25% - 87,500 OP Tokens )
Users will be incentivized to bridge their existing NFT collections from other chains (eg. ETH, Polygon, Solana) to Optimism and use the network for all their on-chain activities. Users will be eligible to claim OP tokens after achieving specific milestones of on-chain activities:
- Bridging a total of 10 NFTs from verified collections to Optimism - receive OP tokens from 43,750 OP token pool
- Paying 0.2ETH in transactions fees - receive OP tokens from 43,750 OP token pool
Development & Maintenance of Open Meta - an open source SDK (25%)
87,500 OP Tokens will be dedicated to cover the development and maintenance costs of our ecosystem in the form of bounties for participants and income streaming for the core team members working on the SDK and protocol.
How will the OP tokens be distributed?
Once one of the milestones are met, the OP tokens will be distributed via the income streaming protocol (sablier) whereas Development and Emergency tokens will be distributed by our DAO.
How will this distribution incentivize usage and liquidity on Optimism?
Our objective is to establish Optimism as the default network for the next wave of metaverse-ready and cross-chain NFTs, positioning Optimism as the protocol for mainstream gaming and immersive experiences. This will allow the protocol to collect fees from minting and other on-chain-related activities. In addition to this, we believe usage and liquidity will also increase significantly by enabling users to bring their existing NFTs from ETH mainnet and other chains to Optimism.
Why will the incentivized users and liquidity remain after incentives dry up?
As more games and immersive experiences become available, not only do we believe that users and liquidity will remain in the Optimism ecosystem, we believe they will eventually increase to a mainstream level. As our products aim to onboard mainstream users, many of them will be using our platform to buy and use digital assets without the need to understand the underlying technology we are using.
Over what period of time will the tokens be distributed?
We anticipate that the majority of the tokens will be distributed within one year, unless the OP token price increases significantly. If it does, we will be able to provide incentives for our community for a while longer by adjusting the number of tokens distributed to members of our community
How much will your project match in co-incentives?
We are planning to utilize a percentage of the generated fees from our platform to provide incentives for users in the near future. In addition, We are planning to collaborate with third party publishers of games and immersive experiences in order to reward users with exclusive NFT collections and unique experiences.
Unreal 5 SDK