Mallconomy Riffs on the Mall Era

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Mallconomy

7 min readJun 15, 2022

Mallconomy has a new spin on the mall and the metaverse. As a game first, it will be a gathering space for the Web3 community, a selling space for creators and builders, an entertainment space for games and media, and a shopping space for metaverse customers. Much like the modern shopping mall, Mallconomy will be a space where people come together and leave with more than they had when they entered.

Variations on a Theme

The mall had a heyday in the 80s and 90s. It held a prominent place in communities. It was as much a gathering, dining, and entertainment space as it was a shopping centre. These days, the mall is not as utilised as it once was. Digital shopping has replaced the need for many brick and mortar stores, and on the whole, malls are on the decline.¹

At the same time, the 80s and 90s are making a comeback in vintage fashion. Have you noticed 80s and 90s styles coming back into fashion, music and design trends? I certainly have. Neon colours and block letters, wide leg pants, slouchy t-shirts and synthesisers have returned to pop culture. The mall, on the other hand, hasn’t fully returned to its prior glory.

Mallconomy is set to restore the mall to a central place in the global community, digitally.

First, as a gathering place.

Web3 and the metaverse are undeniably compartmentalised. Just consider the range of community interests, from degens to regens, investors to yolo-ers, punks to apes, NFT creators to collectors, developers to gamers, community managers to lurkers, guild masters to apprentices. The most agile of us can have our feet in multiple domains at the same time, but never all of them.

Mallconomomy intends to be a Web3 space where folks from any community can come, gather, browse, shop, work, and vibe together. In other words, it’s first and foremost a hangout. As an ideas person, I look at groups of people with diverse minds, experiences, and expertise as a gold mine, if only they interact meaningfully. I simply cannot wait to see what kinds of new ideas spring out of this metaverse gathering place. When we come together as people with open minds, the result is always greater than the sum of the parts.

The mall was once that place. Families, teenagers, college students all frequented malls because it had something for everyone. I remember long days at the mall with my family shopping for school clothes (drag). Soon after, I’d go with friends, hangout, go to the arcade, or just goof around. Even until recently, my 80-something year old grandfather went early every morning for a daily mallwalk. There is absolutely something for everyone in these physical spaces.

At Mallconomy, you’ll be able to hangout, meet new people, and vibe in groups. Ultimately when you sign out of Mallconomy, you’ll leave with friendships and bonds you couldn’t have gained anywhere else. Moreso, you might leave with new ideas and perspectives on Web3, the metaverse, other people, and even yourself.

Second, as an entertainment space.

Mallconomy is a game first. The heart of the inspiration is fun. And with the unique play-to-earn tokenomic strategy, anyone can play and earn, regardless of economic means. The game starts right now!

Even now, anyone can support Mallconomy’s success with our Play to Earn bounty program. For the effort to spread the word on social media and refer new members, Mallconomy will reward participants with $WOOT airdrops. Also, everyone gets 3 daily opportunities to win loot, NFTs, arcade tickets and more in the Jackpot game. When the beta releases, even more gameplay will open up. Window shoppers might find Loot Boxes, anyone can open, operate, or run their own store. There will be an arcade and endless opportunities with visual, video, and musical NFTs.

At first glance, the traditional shopping mall seems limited in terms of entertainment. Of course, there are the cinema and the arcade. But who doesn’t like people-watching in a large crowd? Visiting the fountain, throwing in some pennies, making a wish are also forms of entertainment. Why else would someone go window shopping for things they’d never buy, if it wasn’t entertaining. The mall was something to do, which wasn’t available before they existed.

Mallconomy intends to double down on the entertainment available at your local mall, and be even more fun and rewarding through GameFi elements.

Third, as a shopping place.

It wouldn’t be a mall without retail shopping. Web3 also has a great deal of shopping experiences. Coins, tokens, and NFTs are somewhat just the start. Digital land, avatar accessories, virtual versions of physical products, digital experiences, the economy of the metaverse includes more beyond the surface.

In fact, the metaverse economy is set to expand dramatically:

If started in 2022, adoption of the metaverse over the next 10 years could lead to a $3-trillion contribution to global GDP in 2031. Like mobile technology, the metaverse is expected to have far-reaching applications, with the potential to transform a wide range of economic sectors such as education, health care, manufacturing, job training, communications, entertainment, and retail.²

The mall had a similar story of explosive growth. The first mall opened in 1956. By 1960, there were 4500 malls in the United States. In 1987, there were 30,000 malls and 50% of consumer spending occurred at the mall.³

Mallconomy, in the metaverse however, is not limited to tangible retail of clothes toys, home goods, and electronics. There are endless possibilities for buying and selling.⁴ Imagine going into a virtual mall and shopping for your next vacation. Buy an NFT ticket and off you go to Tahiti or Vienna. Maybe in Vienna you have an augmented reality experience where you cross paths with artists, musicians, and philosophers of the Renaissance. That’s all in addition to buying your next pixelated punk or NFT album from deadmau5.

Seriously … endless.

Fourth, as a work space.

A metaverse mall will need staff, which will include sales, managers, marketers, but also developers, programmers, designers, artists, and curators. All of which (and more) will be vital to sell the breadth of products outlined above.

Just like a mall, human connection will be vital. My first jobs were in malls. I worked in a pizza stand and a shoe store. My unknowing teenage self had no idea I was learning skills that would last a lifetime. I now have many skills that go beyond the “greet, ask, offer, show, show, sell, close” mantra that I learned (admittedly rebellious those years, I resisted actively applying that lesson).

Metaverse changes that game.

There won’t be only transactional interactions. Being a community, game, and entertainment space first, there will be layers of transactions in Mallconomy. Perhaps some store will be staffed with automated avatars with algorithmic interactions, while others will be controlled action-by-action virtually. I might choose to buy a developers algorithm for my avatar to work in a store, while I explore the “In Real Life” world.

“Work” in Mallconomy will be varied. If you choose to make it so, it will feel more like a game than a job. What if work isn’t a grind, but more rewarding, and you’re more free to make it what you want?

Enter Mallconomy

Mallconomy is the next Play-to-Earn Metaverse game where anyone can buy, sell, earn, buidl, or create under one roof. Even now, degens are able to hash it out with regens in the Mallconomy discord. Eventually, there will be a virtual rooftop pool area. Apes will be able to swap with punks. Creates will be able to launch a metaverse retail location. We’ll all have a place to relax and vibe on Web3.

Mallconomy is set to become the Metaverse version of what the mall was in the 80s and 90s. Come, hang out, throw some pennies in the fountain, shop for the latest NFT release, outfit your avatar, defi your heart out, and open up your own shop to sell your craft.

Even better than the mall, and if all goes to plan, when people step out the Mallconomy door, they will leave with more than they had when they entered. When the dream comes to fruition, we’ll all be better off as a result.