Original source: Public account: Life in the cryptocurrency world from scratch
Ulitverse Project Introduction:
Ultiverse is committed to building an AI-driven gaming world on Web3 that provides a wide range of user experiences. It connects Web3 with an immersive VR-compatible virtual world with AAA quality, using AI technology and cutting-edge Dapps, aiming to create a diverse and inclusive user community. Ultiverse uses a matrix of different media, including virtual reality, to provide users with an immersive experience, similar to the virtual world "Oasis" described in the movie "Ready Player One".
Ultiverse has previously received investments from institutions including Binance Labs and Sequoia Capital. Although Ultiverse's products have continued to iterate in the previous crypto bear market, the number of interactive users of the products has continued to grow, and coupled with good fundamentals, we can't help but look forward to its performance in the next bull market cycle. Therefore, this article will take a deep look at the current status of Ultiverse from the aspects of the product itself, investment institutions, project advantages, and token economic models.
Universe Landscape:
Ultiverse is a blockchain-based metaverse that is deeply integrated with artificial intelligence. Its architecture is divided into 4 layers:
Protocol layer: Ultiverse uses the Bodhi protocol as the foundation of the entire ecosystem. According to its official documentation, the Bodhi protocol uses large language models and stable diffusion to generate various in-game content. This AI-driven approach helps to provide comprehensive support for the entire ecosystem by generating more intelligent non-player characters (NPCs) and rich narrative backgrounds.
Infrastructure: Ultiverse abstracts a series of game infrastructures into SDKs for developers to use. These infrastructures include MPC wallets, AA wallets, native markets, and DID systems. In addition, its proprietary live broadcast platform Ultiverse Live has attracted 350,000 followers on Binance Live and received nearly 40 million likes, providing huge visibility for its collaborators. In addition, Ultiverse's infrastructure also has its dedicated mission platform Mission Runner.
Core assets: Ultiverse’s current main assets include e-sheep NFTs, Meta GF NFTs, and world fragments.
As the first asset of the Ultiverse ecosystem and one of its core assets, the Electric Sheep NFT has a total supply of 7,000. It was launched in July 2022 at a price of 0.5 ETH, and the current reserve price hovers around 2 ETH, providing holders with four times the ETH return and eight times the USD return, significantly enhancing its community base. In addition to being eligible for the airdrop of the Ultiverse governance token $ULTC, holders of the Electric Sheep can also participate in many Ultiverse ecosystem projects first and receive more rewards.
Released in late 2022, the Meta GF NFT is positioned as an AI companion with customizable appearance, designed to explore the Ultiverse with players.
At the same time, the pending world fragment NFTs are earmarked for airdrop to Electric Sheep NFT holders. As detailed in the official documentation, players can merge fragments to create unique worlds. Owning various world NFTs can unlock unique, AI-driven personal experiences in the game. This includes elements such as different storylines, characters, world goals, and core conflicts, showing that different NFTs pave the way for unique gaming experiences.
Financing and Partners:
Ultiverse has completed three rounds of financing, with an impressive lineup of investors:
On March 18, 2022, Ultiverse completed a $4.5 million seed round of financing with a valuation of $50 million. This round was co-led by Binance Labs and Defiance Capital, with participation from Three Arrows Capital and SkyVision Capital.
This was followed by Binance Labs’ additional investment of $5 million in Ultiverse through an equity purchase on March 25, 2022. Nicole, Director of Binance Labs, emphasized that the investment is intended to ensure that Binance Labs retains a voice in the strategic direction of the Ultiverse team moving forward.
On February 14, 2024, Ultiverse successfully completed a strategic financing round, receiving $4 million in financing and a valuation of $150 million. This round of financing was led by IDG Capital, with many leading investors such as Animoca Brands, Polygon Ventures, MorningStar Ventures, Taiko, ZetaChain, Manta Network and DWF Ventures making significant contributions. This round of financing also attracted the participation of well-known NFT influencers and KOLs, including Dingaling, Grail.eth, Christian2022.eth and 0xSun.
Overall, Ultiverse has an excellent investment pedigree, with top VCs, market makers, exchanges, public chains, and other public resources.
Token Economics:
Ultiverse unveiled the utility and token economics of its governance token $ULTC:
In the Ultiverse ecosystem, $ULTC has three main utilities:
1. Governance
2. Entry pass: Dapps that wish to integrate with the Ultiverse ecosystem need to pay with $ULTC, a portion of which is allocated to users
3. Payment method: $ULTC is used as a payment method for assets within the Ultiverse ecosystem
The total issuance of ULTC is set at 10 billion, and the specific distribution is as follows:
Token Name: Ultiverse
Code: ULTC
Total Supply: 10,000,000,000 ULTC
Token Allocation
Ecosystem: 30%, equivalent to 3,000,000,000 ULTC.
Investors: 20%, equivalent to 2,000,000,000 ULTC.
Team: 17%, equivalent to 1,700,000,000 ULTC.
Community: 15%, equivalent to 1,500,000,000 ULTC.
Airdrop: 8%, equivalent to 800,000,000 ULTC.
Initial underlying liquidity: 7%, equivalent to 700,000,000 ULTC.
Advisor: 3%, equivalent to 300,000,000 ULTC.
8% of the total token supply will be used for airdrops, targeting Electric Sheep NFT and MetaGF NFT holders, $Soul token holders, and holders of other assets within the ecosystem.
The current reserve price of the Electric Sheep NFT is about 2 ETH, and the total market value is about 14,000 ETH, which is about 47.6 million US dollars. If our calculation is based on Electric Sheep NFT holders receiving 2% of the $ULTC supply, this would be equivalent to a fully diluted market value of $ULTC of 2.38 billion. This valuation is very consistent with the valuation of Portal, another Game+Ai project that was recently listed on Binance, and the valuation is reasonable. In addition to the $ULTC airdrop, the Electric Sheep NFT also has some additional benefits in the Ultiverse ecosystem, including access to the previously mentioned World NFT.
$Soul represents the "points" system in the Ultiverse ecosystem, initially rewarded to early holders by staking DianYang NFTs. The team previously announced that the redemption ratio of $Soul to $ULTC was 100:1. After launching the token economy, Ultiverse launched a series of initiatives to attract new users, aiming to use Soul to further promote the Ultiverse brand. Among them, the Ulti-pilot event launched in late February will release $10 billion Soul (equivalent to $100 million ULTC, accounting for 1% of the total supply), which attracted a large number of users to participate.
route map:
1. Ultiverse’s long-term goals
Ultiverse is pioneering a revolutionary approach to digital interaction by creating an expansive gaming world, deeply integrated with artificial intelligence (AI) and built on blockchain technology. This ambitious project aims to redefine the realm of digital possibility, drawing inspiration from the immersive worlds of iconic films such as Ready Player One, Free Guy and Westworld.
Second half of 2023
Launch of Bodhi AI Protocol: This includes the integration of AI and Web3 assets and introduces the concept of a “World Book”, allowing all products in the ecosystem to merge into a single, comprehensive worldview.
Provide a complete game SDK: Introduce various Web2 game types, including but not limited to CCG, RPG, PTW, etc. This also involves acquiring more than 1 million real users for the platform by integrating third-party games.
Refine the NFT asset interaction rules: Establish NFT asset interaction rules, fully integrate assets such as ES, Moonlight and other ecological products, and clarify the rights and interests of NFT holders.
First half of 2024
The release of the Ultiverse Main World: This marks the official opening of the Ultiverse World Book. The Main World will support millions of users online at the same time, realize blockchain-based interactions, and through the support of self-developed large models, each user's interaction has the potential to change the overall storyline of the world.
Introducing Terminus PC and Vision Pro editions: Through a combination of VR and AI, these editions are designed to immerse users in the entire Ultiverse world, enhancing their understanding and experience of the magic of the Ultiverse.
Formation of an ecosystem partner alliance: This involves playing around AI and Web3; onboarding and transitioning Web2 companies with large user bases to mass adoption of Web3.
Second half of 2024
Introducing the Ultiverse Gaming Launchpad: A platform designed to support and facilitate AI gaming within the Ultiverse ecosystem.
Launch of the Ultiverse Rollup project: This rollup project aims to enhance the interoperability and customization of the Ultiverse AI gaming ecosystem.
Summarize:
Blockchain games naturally have a richer and more complex economic ecosystem. This provides the team with refined space and greater control to implement various tax strategies. Coupled with the immersive experience and irrational consumption brought by sophisticated design, it is more likely to maintain a relative balance in the ecosystem in the long term. In addition, Web3 games cleverly take advantage of the tokenization opportunities of cryptocurrencies, and the investment of major VCs makes Ultiverse even more outstanding. With the rapid development of artificial intelligence, the wind of AI+blockchain games will soon blow, and Ultiverse is conducting strategic cooperation on artificial intelligence throughout the platform.