👋 Welcome to the twelfth issue of The Syllabus from Invisible College – a weekly newsletter that will help you navigate the complex world of web3. To get this newsletter delivered to your inbox, subscribe here:
Before we begin, a disclaimer – nothing here is financial advice. We’re analyzing projects that we find interesting in the hope that you’ll enjoy learning about them as well. With that, let’s dive in.
Ever since we started walking around with powerful cameras in our pockets, photos have helped us outsource and augment our memory.
Unfortunately, in order to store these memories, we are forced to rely on centralized services like Instagram, Apple iCloud, and Google Photos. If they go down, our photos go with them.
MetaBlox was built to ensure that we never have to rely on centralized entities to store our precious memories.
What is MetaBlox?
Metablox is a metaverse that tokenizes virtual representations of real properties and allows users to attach memories to those properties, forever. Unlike metaverse projects like Sandbox or Decentraland, Metablox ties each piece of digital land to real-life locations in cities like San Francisco and Miami.
The core loop of the Metablox experience involves leveling up virtual properties, called Blox, by “rooting” memories to them. Users can root memories to their own Blox as well as properties they don’t own. Whoever owns the Blox gets to decide which memories to feature on the property.
The founders have created three assets to power the MetaBlox economy:
MetaBlox Coin (ERC-20 Token)
MetaRent (in-game currency)
Blox (NFT asset)
The platform’s governance and dividend token is MetaBlox Coin. The more MetaBlox Coin you hold, the more voting power you have to impact the future of MetaBlox.
MetaBlox Coin also provides a dividend to holders. When Blox are exchanged on the MetaBlox marketplace, there is a transaction fee of 2.4%, 0.4% of which is redistributed back to MetaBlox Coin holders.
The in-game currency generated by participating in the MetaBlox economy is MetaRent. It is used for a wide variety of things across MetaBlox including rooting memories, bidding on landmarks, and naming Blox. Unlike Blox and MetaBlox Coin, MetaRent is not a blockchain-based token.
Blox are physical locations in the real world that have been tokenized as a MetaBlox NFTs. Blox are where memories are rooted to the blockchain.
There are five different tiers of Blox that vary depending on rarity. Blox generate the MetaRent in-game currency on a weekly basis and MetaBlox Coin as they level up.
The rarest and most sought-after form of Blox are Landmarks. These are well-known meaningful places, like the Golden Gate Bridge and Golden Gate Park in San Francisco.
In short, Blox represent the tokenized version of physical land, MetaRent is the in-game currency of MetaBlox (similar to V-Bucks in Fortnite), and the MetaBlox Coin functions similar to shares in a public company.
MetaBlox Game Loop
Metablox is designed with an intricate game loop that organically propels actions in the neighborhood.
The goal as a MetaBlox owner is to level up your Blox, thus generating more MetaRent and MetaBlox Coin.
To level up, owners must root significant and meaningful memories to their Blox that have been created in the corresponding location in the physical world.
Neighbors can then use “Memory Marks” to validate memories and tag the feelings they invoke. Memory Marks can be feelings like inspiring, heartwarming, or even solemn.
Blox are initially capped at level 5, at which point they must be sold to the “Next Generation” in order to continue leveling up. A Blox reaches its maximum level of 26, when it is passed to the 6th generation, thus forming a “Perfect Blox”.
The gamification mechanics of MetaBlox are thoughtfully designed based on the Octalaysis framework that was designed by one of the project’s founders. To learn more about the game mechanics of the project, check out the MetaBlox white paper.
Experiencing Life, Together
While we each have our own individual memories, there is value in aggregating these experiences and connecting them to the locations that we share.
If Metablox is successful in collecting humanity’s memory, perhaps it can help us better understand the common thread that runs through our collective experience on this planet.
Want to learn more?
Visit the Metablox website and explore the map
Watch a video about how the Metablox economy works
Read the Metablox white paper to dive deeper into the project
Wed. Apr 13, 9:00 AM PT
From DeFi to blockchain gaming, tokens are a fundamental component of nearly every web3 project. Whether you're investing in crypto or looking to build a project of your own, it's critical to understand how tokens govern user behavior.
Join Invisible College faculty member Rockwell Shah as he explains the fundamentals of tokenomics and provides a framework that you can use to evaluate web3 projects.
This event is open to the public. To join, register here.
Other projects we’re exploring
Zora - An NFT marketplace protocol that gives creators a set of tools to capitalize on web3 opportunities.
Cryptoys - A new generation of interactive digital toys that live on the blockchain and evolve over time and unlock new experiences.
Constellation Network - A technology ecosystem that bridges real-world businesses with crypto economies.
Invisible College Recommended Reads
Soulbound | 9-minute read
A proposal from Vitalik for non-transferable NFTs that are linked to the owner through code.
Rethinking the DAO Contributor Funnel | 7-minute read
A paper exploring a new approach to DAO governance, membership, and contribution strategies.
Decentralization for Web3 Builders: Principles, Models, How | 25-minute read
A comprehensive a16z report detailing the benefits, challenges, and applications of decentralization in web3.
Here are the events we’re hosting at Invisible College this week:
Tokenomics: Bitcoin Whitepaper
Mon (4/11) @ 2 pm PT (Discord)
Faculty member Rockwell Shah walks through the history of Bitcoin and its current implications on tokenomics.
How Social Tokens are Empowering Creators
Wed (4/13) @ 4 pm PT (Discord)
Social tokens allow creators to build deeper relationships with fans. We’ll talk with Rally CEO Bremner Morris about how web3 can help creators thrive.
Web3 x Edtech
Thurs (4/14) @ 12 pm PT (Twitter)
Web3 is transforming education through on-chain credentials, learn-to-earn, and more. Tune in to hear Lightspeed Ventures investor Mercedes Bent share her perspective on the intersection of web3 and learning.
Fri (4/15) @ 12 pm PT (Discord)
Join us to hear the latest updates about what’s going on at Invisible College.
Invisible College, is a learning DAO that helps people learn to build and invest in web3 projects. To access our courses, events, and learning community, you’ll need to hold at least one Decentralien. You can get yours on Magic Eden.
Interesting concept, good read