EnterDAO: Your One Stop Shop for the Metaverse
Happy Sunday! The Open Metaverse can be daunting. Luckily, EnterDAO is building products that will lead to a more seamless user experience and expand the use cases for capital efficiency within the metaverse.
The Profile Basics
Project Name:
EnterDAO
Industry:
web3 - metaverse
Projects by EnterDAO:
LandWorks
,
MetaPortal
,
Sharded Minds NFT
Break It Down for Me
The Problem:
Metaverse projects are disjoint across the ecosystem, making it difficult to track the activities and progress of each. Specifically, there is no single entry point for the open metaverse, which is crucially needed for an efficient and enjoyable user experience.
The Solution:
EnterDAO enters the stage to address these core issues, aiming to enable new markets within the web3 meteaverse economy, as well as unifying the experience of finding and entering metaverse games.
Core Users:
Metaverse landowners, participants, investors, brands, etc
Walk Me Through It:
EnterDAO is a decentralized organization on the Ethereum blockchain founded with the mission to build products enabling new markets within the metaverse economy.
What does this mean?
EnterDAO’s goal is to expand accessibility and participation of the end user by tackling pain points like the user experience across games, access to metaverse land, and driving capital efficiency. To accomplish this, EnterDAO builds products which enable new markets within the metaverse economy.
EnterDAO has two initial products – LandWorks and MetaPortal.
Landworks: a metaverse land renting marketplace
Landowners set a price and time for which their land is available for rent. In exchange, landowners receive rewards – a new source of passive income
Next, a land renter, who might not easily have access to purchasing land for themselves, has the opportunity to do so without as a large of an upfront capital expense. Groups can also pool their money to co-host events on the land – an especially exciting opportunity to leverage for limited experiences in the metaverse
Other metaverse projects can also rent land as an expansion test for their community. Brands and Agencies have also started to leverage a new metaverse business model on rented land, Scene as a Service (Think about this as the rented land being the ad placement space, and the Brand’s scene as the ad campaign to be shown to anybody who visits the metaverse land)
MetaPortal: a single point of access to all or most of the web3 metaverse games
This is an application which unifies the experience of searching, finding, and entering various metaverse games by creating the much needed infrastructure for onboarding and usability
MetaPortal leverages web3 wallet integrations (so no need to disclose your identity), as well as its own MetaPortal wallet for login
Finally, EnterDAO itself will release an NFT collection called MetaPass which will serve both 1) as a collectible 2) as a pass, providing utility within the web3 metaverse including EnterDAO perks and exclusive access to events, games, virtual places, and more.
Show Me the Money
Currently:
For the DAO, there is only the governance token $ENTR. EnterDAO’s token was used as incentive during a 20-week program to onboard existing metaverse games and DeFi communities (Axie, Decentraland, Universe.xyz, etc). The token is now available on the open market or earned through EnterDAO’s products.
From LandWorks, Lenders receive a NFT in exchange for rented out land. From there they can stake their NFT to earn additional yield in the form of $ENTR tokens
MetaPortal is free to users, though it plans to launch an auction-based business model for featured game listings.
Now Get Excited
EnterDAO’s vision is ambitious – the possibility and even the early execution has me excited for the future of the metaverse.
The team and contributors are laying the foundation for a full-fledged open metaverse – one that can onboard the next billion users. Each product they build (LandWorks and MetaPortal) will be the future rails to a robust metaverse ecosystem, bolstered by the fact they seamlessly integrate with each other. Together, they simplify the user onboarding experience, while incentivizing the innovation of new business models and markets within the metaverse.
Landworks is a key incentive for early users to maintain their commitment to a metaverse project, as well as attract new capital. For current owners, monetization of their land had been limited, and even a net-negative given the high capital costs without production. But now, Landworks unlocks a passive income stream that contributes to the metaverse beyond the existing models (i.e. securing a network by staking or locking supply to improve the token prices). The approach is positive-sum for both lenders and renters – in fact, non-crypto brands and traditional businesses are more inclined to now experiment in the space (i.e. events and advertisement) until the right distribution channel and monetization strategy are found. Ultimately, while land owners earn passive income, this also means new unique users thanks to Landowrks, which then unlocks monetization innovation and engaging metaverse experiences.
While Landworks will be crucial to keeping existing participants engaged and attracting new users, the MetaPortal will be the x-factor to whether those next billion users are satisfied and actively participate in the open metaverse. New projects and games are in a frenzy right now, where new ones left and right every week. MetaPortal offers simplicity by aggregating the metaverse projects a user is participating in, and even goes a step further to curate metaverse content, news, deals, games, and more. Working in tandem with EnterDAO’s other projects, a user has the ability to easily access all the metaverse needs and simultaneously have the option to launch a small business from the portal. From their wallet, they can now do everything from purchasing and renting metaverse NFTs to leveraging the NFTs in experimentation for the business model that best fits the user’s goals.
In web2, aggregators are kings and in web3 will remain powerful players, yet instead act more as guides for users to leverage and earn profit. Aggregators in web2 leveraged the captured user data for monetization instead of web3’s opportunity - monetization by the user.
Still, why is this aggregation option better than a centralized metaverse option? The oversimplified answer is censorship-resistant, free markets and liquid assets. Users are in control, freely exchanging a much more liquid metaverse asset unbounded to a single project’s platform; or freely experimenting with new business models to capitalize on the metaverse markets. Projects like the ones built by EnterDAO are further empowering the users to build a metaverse that is accessible for the people and truly capitalized on by the people.
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Thanks for reading and see you next Sunday.
- Nico
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