The developers of the LandVault metaverse plan to monetize the experience of interacting with objects in the metaverse by releasing it as an NFT.
Its new decentralized protocol, Matera, will put the complex objects of the metaverse — like virtual stores or stadiums — on the web and offer creators new opportunities for revenue, payment, and governance.
“Matera opens up a whole new market for developers and investors,” said Sam Huber, CEO of LandVault.
While many metaverse platforms such as Decentraland (MANA) and The Sandbox (SAND) are online, and their virtual earth is represented by NFT, the real experience of users interacting with objects built on this earth is not yet enough. LandVault claims that not only does this make it harder for developers to monetize properties, it also prevents retail investors from participating in the growth of the metaverse economy.
Matera will also put experience management on the blockchain. Participants will receive tokens proportional to their contribution during the creation of the experience. Token holders can also vote on proposals that affect the development of the project and decide how to use the funds stored in the project treasury.
Payments received from users in the experience will be transferred to the project treasury and can be reinvested or divided among interested parties.
Despite continued skepticism about the metaverse, investment bank Citi estimates that the metaverse could generate $13 trillion by 2030.
For example, the cost of land on popular platforms has been criticized for not considering potential developers. Virtual land can be worth thousands of dollars on blockchain platforms.
LandVault sees creating incentives through protocols like Matera as a way to encourage virtual building.
“Matera stimulates the creator economy by allowing builders to build projects faster and find more liquidity,” Huber said.
This isn’t the only way LandVault helps creators make money in the metaverse. The company in its current form is the product of a merger between metaverse developers LandVault and advertising firm Admix. Last month, the company partnered with Decentral Games to bring integrated advertising to its popular Decentraland flagship poker game.