Decentralised 3D Gaming Platform Passage explores e-Money’s suite of European Stablecoins
We are delighted to inform you that Passage is exploring a partnership with e-Money. Passage, a project built on Cosmos enables users to build decentralized 3D worlds for gaming, events, and remote work, powered by UE4 and Akash Network. Together with Passage, our collaboration will be looking to bring together and connect our two communities, whilst exploring the integration of stablecoins in their gaming ecosystem. Passage users can potentially explore e-Money’s fully compliant, asset-backed stablecoins to own decentralized, virtual worlds for games, events, remote work, and education.
This collaboration also enables Passage to leverage e-Money’s network and accelerate onboarding European users, who are looking for native currency options for the markets they operate in. We have already developed several European currency-backed stablecoins such as the EEUR, the ECHF, and tokens backed by Scandinavian currencies (ENOK, EDKK, and ESEK). e-Money aims to address the current challenges faced by stablecoins by offering non-USD backed assets, fully backing each stablecoin so that funds are always redeemable, providing a token-economic model in which the value of the stablecoins moves in line with the interest accrued on the underlying reserve assets, and offering full transparency through quarterly third-party reserve audits by Ernst and Young.
Introducing Passage
Passage brings state-of-the-art graphics to desktop and mobile browsers by streaming Unreal Engine games and experiences from decentralized cloud compute provided by Akash Network. Their spatialized audio makes a user feel present while their immersive touch controls facilitate seamless navigation in an immersive 3D world.
Passage has already been used as a platform for virtual events with Capitol Records, Amazon, American Girl, and Scooter Braun. Now partners are being onboarded for remote work applications and gaming, including the first NFT gaming project on the Cosmos Network — Strange Clan.
Passage is on course to develop a set of open-source tools that will allow teams and individuals to craft decentralized 3D worlds using an intuitive and simple drag-and-drop interface. Assets like locations, buildings, characters, and more will be pulled from the Passage 3D NFT marketplace to allow creators to easily construct custom worlds on the platform.
Passage worlds will be natively IBC-compatible, allowing users to seamlessly bring their assets, relationships, and identity across unique Passage worlds built by any creator.
About e-Money
e-Money is a blockchain-based payment platform built by Danish fintech e-Money A/S, committed to bringing financial inclusion and to help people around the world to have easy access to digital currencies. Built on Cosmos technology, e-Money supports a range of fiat-stablecoins which are fully backed by bank deposits and government bonds that are also interest bearing. The fidelity and transparency of e-Money stablecoins will be ensured by Ernst & Young providing quarterly Proof of Funds.
e-Money currently supports several European currency-backed stablecoins such as the EEUR, the ECHF, and tokens backed by Scandinavian currencies (ENOK, EDKK, and ESEK). The e-Money ecosystem has a second token, the NGM “Next Generation money” that is a staking token and rewards token. Users can stake NGM to secure the e-Money network.
Unlike most existing stablecoins which aim to maintain a static 1:1 peg with their underlying assets, the value of e-Money’s currency-backed tokens continually shifts in line with the interest accrued on the reserve assets. This means that holders benefit from the interest accrued on their assets while they sit securely in your wallet. The e-Money blockchain supports instant payments at scale and includes a DEX for easy conversion between currencies. e-Money has already integrated with Cosmos Hub, Osmosis and Ethereum and expects to integrate with all major networks moving forward.
Telegram | Twitter |LinkedIn |GitHub
About Passage
Passage is the first platform to allow users to create decentralized, IBC-compatible 3D worlds for games, events, and remote work. Passage will open opportunities for adoption of blockchain technology for mainstream use as well as creating unique virtual opportunities for education and advancement in under-reached areas. Users are no longer limited by their hardware. Unparalleled virtual immersion is now accessible on any device through the Passage platform.
