Announcing NeoWorld: The First VR Metaverse with an efficient economic system built on Olympus Algorithmic Reserve Currency protocol

11 min readJan 1, 2022

In short: NeoWorld is a Metaverse on Polygon that brings together an immersive, photorealistic VR Earth and an economic system powered by Olympus Reserve Currency protocol to create a truly Play-to-Earn experience. Driven by NFT 2.0 and efficient economics, NeoWorld creates a new-class of virtual Land that is backed by liquid reserves and has intrinsic monetary value. NeoWorld is building in the pure Web 3.0 spirit — all funds coming from land distribution remain held by the community to serve for the benefit of all ecosystem participants.

Background

During 2021, we have seen the rise of a new Algorithmic Reserve Currency protocol developed by OlympusDAO. Since the successful proof of concept, the protocol has been widely admitted by the community and an oblivion of forks did not take long to appear. Along with community attention, OlympusDAO has accumulated a significant amount of treasury contributions, reaching more than $700m.

Recently, RomeDAO announced the APY RPG abstraction extending the OlympusDAO concept to the next level where proven gamification techniques stimulate deeper participant engagement, creating a truly Play-to-Earn experience and additional value for contributors.

On the other hand, Decentraland, The Sandbox, Wilder World and a number of other Metaverse projects continue to disrupt the virtual world paradigm and make the path for the Cyber Renaissance that is coming.

Finally, it was a huge step for Mark Zuckerberg and the Facebook team to raise the flag of Meta, bringing the alternative reality to the widely recognized enterprise level.

We applaud all of these genuine innovations and with all the admiration to the mentioned projects, today NeoWorld is taking its own step further and integrating Reserve Currency protocol with the Metaverse concept to create a new generation of virtual land assets and to bring Play-to-Earn gaming experience to the next level.

The beginning

It is the morning of the first day of 2022, and the future is already here. During the previous years, the emerging Web3 phenomenon has created an entirely new world at lightning-fast speed of innovations which are changing the way we live forever. Starting long ago from a dream, today we are ready to publicly announce NeoWord — the first APY RPG Metaverse, not just a game but an alternative reality where you can earn stable passive income on assets that you own. By the end of 2021, all industry prerequisites were finally in place and today we are building NeoWorld based on the following vision:

Immersive photorealistic 3D reality that includes well-known Planet Earth locations, but not limited by them.
Efficient economic system merged with modified Olympus Protocol that powers the truly Play-to-Earn experience.
Real life-like activities providing deeply immersive gaming experience.
Home for the world’s best 3D artists that bring the unique content into Metaverse life.
Liquid NFT 2.0 Marketplace where all Metavese item inventory can be freely traded.
Focusing on a broad participant audience, not only crypto veterans and wealthy investors.

We are creating NeoWorld as an alternative 3D reality where the Neo Settlers will be able to express their creativity while rebuilding remarkable World cities, establish a truly citizens-governed rule of law and build wealth and prosperity. NeoWorld allows anyone to become a landowner in major world capitals and offers the community options to buy, sell, or rent land assets as well as to develop the land into multi-purpose estates. Our goal is to offer the community a way to Explore, Create, Work, Study, Invest and Earn in alternative New York, London, Dubai and other famous locations.

NeoWorld will be launched on the Ethereum Layer 2 solution Polygon. It features all the significant tools and components required by developers to create optimized Ethereum instances. The instances provide the complete package of standalone blockchain traits such as sovereignty and scalability. In addition, they also offer considerable improvements in flexibility for developers along with the security of Ethereum. The community can benefit from the low gas fees that do not deter users from participating in the economy.

NFT 2.0 is here

The rise of the NFT market around the world is revolutionizing how we own and trade digital assets nowadays. NeoWorld is building a digital framework that will allow multiple participants to Create and Consume various NFT items, thus creating an ecosystem driven by its participants and a liquid market where all assets can be freely traded.

To implement a complex Metaverse NFTonomics, NeoWorld is pursuing a goal to power it by the NFT 2.0 protocol that goes beyond what NFT 1.0 can do.

Referring to RMRK’s definition the core NFT 2.0 characteristics are:

Extensibility — an NFT can be linked to another NFT, can ‘hold’ fungible tokens, can be linked to any other arbitrary data sets.
Shared Ownership — an option that allows multiple co-owners the right to own assets on proportional terms.
Upgradability — this feature ensures that an NFT can be updated in the future. The updates can be to the select metadata, media, artwork, the addition of new resources, etc.
Dynamism — this means that NFTs can issue commands, equip other NFTs, change their look, and a lot more, as determined by the builder or owner.
Permissibility — means a temporary permission to change the NFT asset that can be granted to third-parties.

Metaverse of the future

To better understand the paradigm NeoWorld relies on, let’s take a look at the Web 3.0 Metaverse concept described by Grayscale. Web 3.0 meta-worlds are part of a larger interconnected crypto cloud economy. These decentralized protocols interoperate with and provide the technical infrastructure to support Metaverse virtual economies.

• Payment Networks: Web 3.0 metaverse economies can use their own digital currency or the currency of the layer one base crypto cloud economy platform they’re built on, such as Ethereum (ETH).

• Decentralized Finance: Decentralized exchanges allow users to trade in-game items while lending platforms allow users to take out loans on their virtual land.

• NFT Sovereign Goods: Players can purchase NFTs from other creators and bring them into other virtual worlds to be put on display or sold.

• Decentralized Governance: Legal frameworks take back control of the digital economies from centralized corporations and allow a global network of Web 3.0 metaverse users to decide the rules of their collectively owned virtual space.

• Decentralized Cloud: File storage solutions such as IPFS and Filecoin give Web 3.0 metaverse worlds a decentralized infrastructure solution to store data while services like Livepeer give virtual worlds decentralized video transcoding infrastructure.

• Self-Sovereign Identity: Internet-native social reputation coin (“creator coins”) data from other platforms may be transferred into the Metaverse and used for identity or credit scoring.

An alternative reality as a framework

Today we are building this world as a real life-like adventure, covering all the core aspects of our day-to-day activities. The Neoworld Metaverse is coming to take over many industries, with its vast creative and exploration opportunities for Neo Settlers. We are designing the early economy system to allow Artists and Creators to mint unique NFT assets in the following market segments:

Automotive: cars, bikes and other vehicles
Real-estate: apartments, houses, offices, retail space
Fashion: everything you need to complete your wardrobe
Digital Art: galleries, museums, urban sculpture & art
Games & Casinos: where players can win real money
Advertising: digital billboards can be built by property owners to advertise to Metaverse settlers
Education: general studying and educational programs
Entertainment: music venues and video streaming industry
Meta Sports: cyber sport hubs

There is a lot to do, but the team is more than just a group of individuals — with our diverse and vibrant community, we know that anything is possible. It’s an unstoppable force that the dream and determination of the whole community can create together. That is why the core distinction of NeoWorld to other Metaverse projects is the financial system and the way how we reward Neo Settlers and Contributors.

NeoWorld economics

We believe in creating wealth for the whole community, not just a handful of individuals or at the expense of any one group. NeoWorld Metaverse’s financial system is based on the Reserve Currency Protocol generating high-APY passive income for every landowner in the game. The NeoWorld Decentralized Treasury is accumulating and holding financial reserves to foster the stability, integrity, and efficiency of the Metaverse monetary, financial, and payment systems. In other words, NeoWorld is merging an efficient economic model with a modern gaming experience, creating an endless adventure and truly income-generating gaming activity.

The Intrinsic features of the NeoWorld economic model are:

Reward system that distributes Metaverse revenue to Landlords, 3D Artists and other asset holders to incentivize them through high passive income.
Open and efficient initial and secondary NFT 2.0 markets for all asset inventory.
Strong anti-inflation policy addressing the well-known Olympus protocol issue.
Soft DAO-governed monetary regulation measures maintaining safe and healthy Metaverse economic conditions.

The foundation of the financial model is the NeoWorld DAO profit stream that comes from Protocol fees and NeoWorld taxes. Neoworld’s rewarding system is built on the proportional distribution of the protocol revenue, wherein the majority of the total reward volume will be channeled to the most active ecosystem Contributors and Landowners. To achieve these goals, core Olympus protocol will be modified due to the course of the project development.

In NeoWorld you cannot just buy, rent and sell the main revenue-generating asset — Land — but you can invest in your land to build developments on it, increasing revenue coming from your estate, as well as its market price. Metaverse NFT assets circulation model allows us to apply a complex economic model to all in-game activities, unlocking a number of occupation areas where anyone can find his own place being Landowner, 3D Artists, Investor, Trader, Builder, Manufacturer or just a curious Explorer.

There are two main currencies in the Metaverse $WORLD and $CASH. $WORLD is a native token of the NeoWorld, which will be traded in the open markets and can be staked in Treasury, $CASH is the in-game currency that can be exchanged for Staked $WORLD at the 1:1 ratio most of the time. The ratio is dynamic to regulate $CASH in- and out-flows pursuing the monetary policy goals. DAO governed monetary regulation policy will be in place to control protocol inflation, price levels of the basic asset inventory, and to ensure long-term prosperity for Neo Citizens.

We believe that the substantial financial incentive will stimulate contributors to develop the Metaverse in an active manner and attract multiple participants driven by the desire to find an alternative income in the virtual world, or just discover the opportunities.

Upcoming posts will deeply cover the Metaverse economics as well as a number of related questions.

NeoWorld colonization

Long before today, we developed NeoWorld’s development and rollout plans. We never say that it is an easy journey, but we do say that it is a completely achievable goal for truly industrious people who the team and community members are.

Nothing great can be done within a single step and we are starting NeoWorld from building a strong community around the NeoWorld and consecutive series of Land Distribution Events. During these events, community members and investors will be able to purchase land across a number of chosen locations in NeoWorld, bootstrapping the DAO-owned Treasury Reserves at the same time.

The first NeoWorld location to colonize will be Manhattan, New York to let our early contributors benefit from the initially discounted land price in the location that can become one of the most expensive in the future.

Unlike some other projects, NeoWorld Metaverse is building as a strongly community-oriented venture with decentralization in its veins. NeoWerse is pioneering a truly Web 3.0 Metaverse approach: when contributors purchase Land assets, all the funds received from Land distribution are going directly to the community-governed Treasury Reserves backing the land cost. In other words, this World is created by people and for people, leaving the core financial and a government power in the hands of the Neo Citizens.

The next stage in the evolution of NeoWorlds will be the launch of the NFT Marketplace allowing 3D artists and creators to start bringing into existence multiple in-game inventory.

The Metaverse as a photorealistic reality framework takes more than most people can imagine. You can rest easy knowing that the team has a deep experience in managing complex software development projects. That’s why we are hiring the best industry professional and game developers to efficiently deliver the alpha platform in 2022. This topic will be widely covered in the Meidum posts in upcoming months.

NeoWorld is a long-term project that will take us on an adventure, and we can’t wait! We have lots of exciting things planned for the near future. The roadmap milestones and their intrinsic features can be better described in a series of articles, which will be published in upcoming weeks:

Phase I — Treasury Reserves Bootstrapping (Q1 2022)

Phase II — Initial Land Distribution (Q1 — Q2 2022)

Phase III — Rise of NFTnomics (Q2 — Q3 2022)

Phase IV — Virtual Reality (Q4 2022)

Tokenomics

We are considering the community as the main NeoWorld’s contributors and developers and aim to build transparent communications between the initial development team and NeoWorld community from day one.

Although we will cover the token distribution model in the following posts in detail, today we can announce that around 90% will be allocated to the community to kick-off the healthy token distribution and only remaining part of the total supply will be used to finance development, team expansion, contract audits and ensure the rapid NeoWorld growth. The excess of the funds from DAO holdings will be used to buy back $WORLD tokens from the open market, pushing its price up.

The next significant step for the DAO will be the establishment of the NeoWorld Development Fund in 2022 that will provide grants for individual participants and teams that would like to contribute to NeoWorld development and growth.

Team

NeoWorld Metaverse is building by a team of crypto and DeFi veterans who share common values in their vision of the future. Today we can say — the team will not remain pseudo-anonymous, therefore a page covering the team structure and core members will be published at our website.

Whitelisting & Launch

So, finally we are here.

Currently, we are working hard to prepare our contracts and application for the production deployment in the upcoming weeks. A public launch is estimated to happen in February — March 2022.

We are especially focusing on safety and security to ensure a smooth project release as well as great experience for our community participants.

Pre-sale is scheduled for the second half of March and the whitelisting process will be announced closer to the mid of January.

What’s next?

We will post a number of articles revealing more information about the project roadmap and will cover the following topics:

Core roadmap phases:

Phase I — Treasury Reserves Bootstrapping
Phase II — Initial Land Distribution
Phase III — Rise of NFTnomics
Phase IV — Virtual Reality

2. Tokenomics

3. Protocol Contracts

4. Launch strategy: Whitelisting & Pre-sale

From each corner of the World we call artists, contributors, creators, developers, dreamers and travelers to join the NeoWorld colonization campaign. Let’s build together the better version of the World, let’s build together the Metaverse of the future!

Website: https://neoworld.finance

Discord: https://discord.gg/y5bw7zZGfg

Medium: https://medium.com/@NeoWorld

Twitter: https://twitter.com/NeoWorldDao