VMeta3 AMA Transcript

Stephanie (BSC.News)

Hello everyone and welcome to the AMA with VMETA3! Today we have @MHAMZAA joining us to talk about their exciting new project. Great to have you here :)

MHA

Welcome to the VMeta3 AMA. Its a pleasure and I look forward to your questions!

Stephanie (BSC.News)

Awesome! Without further due, we will jump right into the questions. Sounds good with you?

MHA

Of course! excited!

Stephanie (BSC.News)

Super!  So to kick things off, for those who may be unfamiliar...

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1. Please introduce yourself and the team behind VMETA3.

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MHA

I am Muhammad Hamza and good to see everyone here

I am an accomplished Senior Executive with a wealth of international experience across diversified industries focused on sustainable  technology, Blockchain, MetaVerse, AR & 3D Gaming, DeFi & Cryptocurrency with vast experience in e-Commerce, Digital Transformation CRM and B2B & B2C Customer Experience.

My track record of success involves some of the most accomplished blockchain companies and prestigious companies in the region, such  as The Emirates Group & dnata, Dubai World & Dubai Customs, with over 18 years of cumulative experience increasing  sales and growing bottom line while spearheading operational improvements, to drive productivity and reduce costs. I strive to focus on block chain technology that is seeking to make a significant impact with the blockchain and Web 3.0 technology that is key to shaping the future. I have significant experience leading billion dollar companies to achieve their objectives.

Our team consists of individuals who are pioneers in their respective fields. All our developers are in house with a background in Unity, Rust, Solidy etc. We have over 40 staff in 7 countries collaborating on this exciting project together as a team which is the heart of our company. Together we want to build the first of its kind Metaverse

Stephanie (BSC.News)

Awesome! Thank you for that amazing introduction, sounds like you have an amazing team behind you

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2. What is VMETA3 and what are you trying to accomplish with this project?

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MHA

We are a global organization dedicated to building a true, secure, and immersive digital metaverse, leveraging blockchain and Web3 technology. In this digital world, participants are free to interact with one another and engage in different activities as independent digital beings.

In our digital world it would be possible for people to participate and interconnect freely as independent digital identities within basic boundaries, but with limitless possibilities!!

We want people to change the way they live, shop, interact and prosper!!

I want people to truly understand our technology so allow me to give further details

VMeta3 offers the same level of security at a fraction of a cost harnessing the true potential of Web 3 technology. We focus on Decentralized Identifiers (DIDs) which allow individuals and organizations to engage in social, commercial and advertising activities just like in the real world.  VMETA3 will provide users with Unique digital identities which can never be deleted by anyone but the user themselves. This identity will be the persons existence in the metaverse and ensure true decentralized identity. Our digital identity will have a unique identifier in the blockchain ledger. The value created by this digital identity in the VMETA3 metaverse, the assets it owns, and even all actions will be recorded in this unique address.

At VMETA3, the idea being that there isn't an arbitrary central authority, but rather a form of distributed consensus by the participants or users. This metaverse is being built, owned and governed by its users with unique NFT Standards that enable NFTs to be initiated purely by blockchain code.

We are going to provide unique NFT standards that ensure the IP of the actual artist is protected and is linked with the NFT. Each NFT that is minted from VMeta3 will be initiated from VMeta3. This is truly revolutionary!

In short, our Metaverse will provide a  secure Digital Identity, Positive Value System – with several ancillary products such as the VMETA3 Chain, Wallet, Augmented Reality (AR), and Non-Fungible Tokens (NFTs).

We invite and welcome digital pioneers from around the globe to join us in this new technology frontier, our metaverse – VMETA3

Stephanie (BSC.News)

Okay nice! So let's actually talk about your NFTs because it is something that I found to be really interesting

MHA

Thank you! looking forward

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3. What is the utility of your NFTs in your Metaverse?

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MHA

Great question!

Before I tell you, First let me tell you about our NFT standards

Many projects do not have clear standards or regulations for NFTs and can cause several lawsuits. As in they dont make sure the IP belongs to whom.

Our NFTs have standards like including only digital assets and users must make sure that the IP is new and belongs to them as well as the initial publishing is from our platform the VMeta3!

Let me give you an example

If a user creates a picture on PNG, he can use our wallet to make the picture ERC721 compatible by uploading it. However as we all know, PNG is the original form of a picture. The user then can create a JPEG and upload it to our wallet hence converting it to ERC721. The user can now combine the two ERC721 to finally create ERC1155. This is just an example of our NFT standards.

Moving on..

Users in our metaverse will be able to buy digital assets and true NFTs which can be traded in our marketplace, exchanged, sold in other market places and so on.

Active users will also be able to collect NFTs as rewards for their participation in our ecosystem.

Also minting and gas fees on our Metaverse will be substantially cheaper in comparison to other metaverse

We will pave the way for NFT standards!

Stephanie (BSC.News),

It is great to hear that you are making an effort to raise the level of NFT standards, especially when Metaverse as a whole is in the early stage of development.

Also with low gas fees!

MHA

Yes and we will shape the very industry

With of course the support of the community

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4. What are the user categories in VMETA3?

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MHA

Everyone can participate in our Metaverse!

Individual Users, Businesses, Fashion brands, Advertising agencies and the list can be never ending. Just like the users in the real world, we provide the opportunity for users in our Digital World to explore the potential of a true Metaverse.

Our Metaverse will break the boundaries of physical space, not only for activities such as entertainment and socializing, but also to make our lives and the digital world fully and seamlessly connected!

Stephanie (BSC.News)

Awesome!

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5. Please tell us about the strength of the VMETA3 wallet.

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MHA

Sure!

The VMETA3 Wallet is your "door" to your unique identifier. That's why our wallets are an important entrance to VMETA3. We believe that the "digital key package" developed from our digital wallet technology has a clear first-mover advantage. The VMETA3 Wallet was Developed Based on three Important Factors which are security, user experience and biometric technology.

Also, we believe our user experience will be unlike any other wallet ever before. Apart from user convenience, the outlook of the wallet is truly eye-catching!! 😎

Stephanie (BSC.News)

Does your wallet have a strong security feature?

MHA

Absolutely! We put a great emphasis on security measures and have a great team who are experts in security to ensure we provide the highest level of security.

Security is paramount to the digital key package of our Metaverse. In the past few years, hackers have been on the hunt for digital wallets, seeking ways to steal private keys. When the metaverse arrives in the future, this admission will be related to a digital identity and all digital values associated with it. Whether it is safe or not will determine whether the digital key bag can become a reliable way of entrance to the Metaverse!

In the future, we will launch browser plug-ins to make it easier and smoother for users to experience our metaverse. Furthermore, we will continue strengthening the security while adding biometric technology to perfectly graft onto the digital key package. Issues like; private key not being remembered; forgotten mnemonic words; lost passwords and hacks will no longer be a problem. People can use their own biometrics, such as fingerprints, voiceprints, irises, et

Stephanie (BSC.News)

Awesome! Security is the key as there are increasing number of hackers aiming for digital wallet

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6. How is the swap function of your wallet different from others?

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MHA

I love the SWAP function. I hope there are some tech savy users out there reading this!

Our wallet has a unique SWAP function unlike others.

Centralized Liquidity - We will allow liquidity providers (LPs) to deploy funds within a certain price range, thereby improving the efficiency of capital utilization and reducing trading slippage within the corresponding range. That will not only increase the efficiency of capital utilization, but also further concentrate the transaction depth.

Multiple Rate Flexibility - We provide LPs with three different fee levels - 0.05%, 0.30%, and 1.00%, and new fee levels can also be added through governance. In other words, low-risk trading pairs such as stable coins can choose low rates, and high-risk trading pairs that are not stable coins can choose high rates.

Cash Pooling Interval Pending Orders -  We have launched a thin layer pending-order mode that is similar to centralized exchanges, allowing users to place orders within a certain price range of a specified trading pair to supplement the current market single price function. When the price enters the set range, it will trigger the transaction gradually, and when it reaches the other end of the range, the transaction will all be completed.

Non-Homogeneous (NFT) LP - As a by-product of custom price curves, liquidity positions are no longer fungible and are no longer represented in ERC-20 tokens in the core protocol. Instead, the liquid token assets pledged by the LP will be represented by non-fungible tokens (NFTs). In other words, the LP is your liquid position. Some would argue that this could create compatibility issues with third-party DeFi protocols that integrate our LP tokens. However, shared positions can be fungible through external contracts or other third-party protocols, namely through ERC-20 tokens.

Oracle Updates - The improvements to the oracle allow the third party to calculate the price provided by any Time-Weighted Average Price (TWAP) in the past 9 days through a chain call. With the overall optimization, integration is easier, the costs are lower, and the gas fee is reduced by nearly 50% on the Layer2 level.

Stephanie (BSC.News)

Brilliant! I can see how much effort you put  in this project and how much this project means to you

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7.  What can users expect from VMETA3 Land? What is the limit in your Metaverse?

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MHA

There are many things that users can freely participate in VMETA3. Players entering our Metaverse mainly occupy a territory, and then develop and operate the creative space.

In the previous land models, the first thing a user would do as a digital identity was to buy land. Why buy land? Because in the past, developing the Metaverse was like building a new city in the real world. Users can only start building a digital space and carry out various activities on it when they buy land. Where did you buy this plot in the past? You can either buy directly from the platform owners, or buy from NFT trading platforms, like OpenSea.

The price of metaverse lands have been largely unstable, but recently many investors have been attracted to land purchases in the metaverse, so prices have started to rise. Because of the expectation of appreciation, some players began to hoard land in the metaverse. This kind of hoarding, speculation, and hype is actually not conducive to the healthy development of the metaverse. If everyone only buys land, but does not build their own creative space, it will actually cause a waste of resources like the real world!

VMETA3 can provide third-party construction services, which lowers the barriers to entry for players to participate in the experience of the metaverse to some extent. So, on the surface, it sells houses, but in the metaverse, all items including houses are files generated by code and verified by the blockchain. In essence, VMETA3 is selling unique digital creative content.

This is why the realization of the metaverse value system mainly depends on how the digital content creation industry develops.

Finally something very very important that reallyyyyyy sets us apart

The metaverse of VMETA3 does not rely on land transactions!! Yes you heard that correctly!! ☺️ In our metaverse the price of land is extremely low, and it is even given to users for free 🤩, so that everyone can easily participate, be creative, and produce creative digital content. VMETA3 makes money from each NFT consumption and transaction, as well as the user's gas fee. Because VMETA3 believes that the more creative users there are, the more valuable digital items will be produced, and the more frequent the transactions, the higher the revenue of VMETA3 will be. Therefore, the transaction model + gas fee is likely to be a more reasonable and healthier business model than land transactions.

These are just some examples of our principles. Users are encouraged to read our whitepaper to understand our technology and principles. 👍

Stephanie (BSC.News)

100% agreed, I believe low barrier for entry for projects are very important. The barrier to entry on some of the projects coming out is way too high

MHA

Absolutely!

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8. Please tell us about the benefits and advantages of using VMETA3. How can it be differentiated from other Metaverse companies out there?

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MHA

Amazing question!

Roblox and Sandbox have built 2D Metaverses. Ours is a 3D, immersive Metaverse that will include AR and VR elements. Our project will succeed because we are completely decentralized, and the community will be an integral part of our Metaverse and the rules by which it functions. We also focus on real life elements creating different functions and areas that cater to all types of users. Fashion, Business, Music and so on. We want to create a digital world where unique digital identities can find a home. In our opinion no project is truly focusing on this.

1. We are a sustainable solution

2. We have a unique digital identity and positive value system

3. We are a completely immersive metaverse using Virtual Reality and Augmented reality.

4. We allow businesses to use our powerful marketing and advertising system to market and sell their real world products in our metaverse

5. We have strong NFT standards - you can create your own value - Create-to-Earn

6. We have a unique set of Idols to customize your identity and fashion - this is a Decentralized Identity or DID which can be used in other metaverses if compatible

7. We are establishing a detailed, immersive, user friendly ecosystem for each industry. Such as Fashion, Education, Gaming, Shopping and so on.

Stephanie (BSC.News)

Great! Lots to look forward to

MHA

For all of us :)

Stephanie (BSC.News)

definitely

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9. What visions do you see for VMETA3 going forward in the future? What are the investment and risk in VMETA3?

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MHA

Like all projects, Vmeta3 strives to protect the interests of their users and investors. The project is in the startup period and the adoption of metaverse is still slow and unregulated in the real world. Like all projects Vmeta3 will take time before it is successfully noticed as one of the true pioneers of the Metaverse and prove its true potential and the true value of its technology for the future and metaverse in general. If you study Facebook/Meta, they plan to develop a metaverse over the next 10 years. So investors should know that our project has a shorter vision of 5 years and we are working towards building a long term project with long term results.

That means that projects and companies that understand the dynamics of the industry are all investing in the long-term future of this technology and the acceptance and large-scale use of the metaverse.

For the metaverse adoption to be successful, more than half of the world's population should be able to access the metaverse through the application of blockchain in our opinion.

The second sign, of course, is the value system. A key indicator to measure the value system is the transaction size of NFTs. Both digital items and digital assets are calculated in terms of NFT circulation. Now, global GDP exceeds $80 trillion, and the size of the NFT market is only about $20 billion. If we want to reach the tipping point, the size of this NFT market, that is, the GDP of the metaverse, must reach one trillion dollars. It is estimated that there are at least five years before the metaverse adoption goes mainstream and becomes a lifestyle.

We say that creation is not only the greatest advantage of the Metaverse, but there is also risk. In the metaverse each user is like a director of a movie where we all want to shoot the script in different metaverse sets, and create our own reality. However, the problem here is that all scripts are different. Some may build a metaverse that embraces a good life, another metaverse that can have war or violence.

There can be many examples. Therefore, it is imperative to allow all members of society to contribute their valuable suggestions, participate in discussions, and formulate value consensus in advance at all levels such as law, culture, morals, ethics etc.

We must understand the underlying cultural and ethical issues before anything else.

In the metaverse, what we call freedom is not absolute freedom. The digital world also needs laws, or even stricter norms. The establishment of these norms are precisely because the metaverse is not a centralized developer, which cannot be formed by a regulating company or institution, but must be formed by establishing a covenant between individuals, societies and groups.

So, this "Brave New World" is not just a metaverse of "civilization", it must also be a "healthy" metaverse, a "sustainable" metaverse, which requires more in-depth discussion!

Stephanie (BSC.News)

Thank you for the explanation! Last but not least...

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10. Any exciting news you would like to announce here today?

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MHA

Absolutely!!!!

Yes, we are extremely excited to inform the community that we are in advanced stages of completion of our Metaverse environment and other associated technologies. We have signed up with some key industry leaders who will contribute greatly to our ecosystem. These industry leaders are well known in the fashion, security and blockchain world.

Having said that, we plan on launching our Metaverse in the last quarter of this year. Users can checkout our roadmap on our website for the developments. I must also say that we have incorporated a unique model in our organization which is the "Fly wheel effect". Users are encouraged to have a read about the amazing model which is used by some major companies today.  What we want is to have a wonderful community who can understand and join us in our journey. Each community member is valuable to us.

We are offering two options exclusively to BSC news community as part of our thanks for the AMA

1) Users can register for the whitelist absolutely free of cost and they will have the opportunity to be notified and be able to participate in advance in our product releases.

2) Users who just cant wait! Can purchase a slot in the whitelist in advance where they will not only get a further 30% discount in our product releases but also get a special airdrop!

We value our community members and ensure giving back to society.

Please visit our campaign page for further details!

Before you close off please have a look at our trailer and virtual idols!

Stephanie (BSC.News)

What an exciting opportunity! If you haven't already make sure to go and check out VMETA3 everyone! Super exciting project that you don't want to miss out on :)

And make sure to register for the whitelist and get a 30% discount on product release!

MHA

Lastly - Our Advertising system will be launched at the end of September 2022, which is the next version. This will enable businesses, brands, users and so on to truly harness the power of worldwide advertising!

Come and join our community!

Stephanie (BSC.News)

Would you be able to provide us with social media links so that our community could follow?

MHA

Twitter

Telegram

Instagram

Discord

Medium

Join our community to be able to receive some amazing giveways!

Stephanie (BSC.News)

Great! Thank you very much for being with us today! It has been a pleasure having you here.

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