Project Name: OpenMeta Protocol
Author Name: Hashim (@H_sama )
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 an advanced no-code development kit simplifying the process of integrating and licensing any NFT, from any blockchain protocol in mainstream games, immersive experiences and films. This allow NFTs to be integrated as in-game characters, virtual items, assets & utilities and much more.
We currently finished building the alpha version and it’s working perfectly with any EVM-compatible chain and allowing mainstream games to import multiple NFTs from multiple protocols at the same time. This will allow game developers to utilize NFTs within their full potential and create amazing use ceases beyond just character/avatar import.
We will use Optimism as our default chain for the protocol’s main activities.
We plan to use the following strategies to help Optimism to become the default protocol for mainstream games and the open Metaverse:
- Our Unreal Engine SDK will set NFT minting on Optimism by default
- We have implanted a cross-chain feature
- 5% of the generated income from fees will be used to support liquidity on Optimism and public goods
- We will encourage organic adoption of Optimism within the NFT space and demonstrate the benefits of publishing NFT collection on Optimism
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% - 150,000 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. We will select the best five projects applying to our developer program and reward them with 30,000 OP token each upon meeting the following
- Releasing Unreal engine 5 game or immersive experience on a mainstream platform and utilizing NFT collections on Optimism
- Minting a metaverse-ready NFT collection of at least 5000 token on Optimism using our SDK
- Licencing five Optimism NFTs in their product
Users ( 25% - 75,000 OP Tokens )
Mainstream users will be incentivized to mint, buy, and rent NFTs in our App - the distribution of the OP tokens will be in the form of rewards for the first 5000 users which then we believe will be spent on the same activities to unlock additional content for the games they are playing
Development & Maintenance of Open Meta - an open source SDK (25%)
75,000 OP Tokens will be dedicated to cover the some of the development activities 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 to the recipient address whereas the development via income streaming to our team members or to the contributor wallet via Gitcoin for bounties
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.