MetaID — Decentralized Digital Identity for Web 3.0
I believe that we have more or less recently paid attention to the DeFi faucet protocol Aave team developed Web3.0 social protocol, Lens Protocol. The project has been online in Polygon on the 18th of last month, and provided the official channel for casting Lens domain NFT for Lens users who have previously signed an open letter, which has caused a lot of discussion in the community. And I’m going to introduce you another project today, which is somewhat similar to Lens but relatively a bit earlier — MetaID.
What is MetaID？
MetaID is a decentralized identity (account) protocol launched by Mintameta platform with dynamic NFT as the underlying layer. The irreplaceable, programmable and transferable characteristics of NFT are naturally suitable as a carrier of decentralized identity (DID), and MetaID is born by expanding on these characteristics of NFT, expanding to cover asset storage, data storage, editable avatars, etc., giving it asset, data and art sink value.
MetaID is an open source and audit protocol, allowing access and extension of external protocols, which gives it good openness, security and scalability. MetaID will be widely used in games, social and other scenarios, and is an important basic implementation of Web3.0, putting digital assets right in the hands of users. At the same time, MetaID, as one of the core products of Mintameta platform, will be the “golden shovel” to capture a large amount of platform value.
What are some characteristics of MetaID？
1、Dynamic NFT
Each MetaID is a NFT (non-homogenized token) and the NFT is a dynamic NFT (dNFT) with the ability to “adapt and change in response to external events and data”.
2、Decentralized Identifier（DID）
Each NFT is an independent identity (account) and is unique. The MetaID is held solely by the user and no one can change or transfer it except the owner.
3、NFT Vault
MetaID has the ability to store any asset (FT or NFT) and to follow the transfer, MetaID holders can freely deposit assets to and withdraw assets from MetaID. Holders can sell Erc20 assets entirely by trading MetaID without incurring slippage.
4、Data Storage
MetaID uses a unique algorithm and approach to solve the problem of limited length of data recorded in NFT contracts, using distributed recording and index tracking to enable unlimited data to be recorded on NFT, including game data and social relationships.
5、Editable Avatar
Each MetaID is a PFP type NFT, but its presentation is no longer an unchangeable static picture. MetaID holders can turn into designers to make their own avatar parts NFTs (such as skin, head, eyes, nose, etc., based on ERC1155 protocol) into unique Avatars, and artists can provide MetaID holders with avatar parts NFTs that can be used for DIY to earn revenue.
6、Growth Potential
MetaID has an attribute similar to “contribution value” — activity, which is initially 0. Users can play, interact, socialize and participate in Defi on the Mintameta platform to increase their activity and raise their MetaID level.
7、Income Earner
MetaID holders can passively capture Mintameta platform revenue independent of the holder, but is related to the MetaID index. MetalD exponential is calculated from MetaID rarity (indicator: race and part rarity), generation (indicator: equity factor of Genesis and free Mint), social engagement (indicator: number of followers, number of fans, MetaID (indicator: number of likes) and activity (indicator: activity level). Meanwhile, MetaID can be used as the threshold for game or product access, NFT Mint whitelist, and token airdrop.
8、Openness
MetaID is an open source protocol, providing Mint, avatar editing, access, transfer and other operational interfaces and data interfaces to the outside world, which can be freely accessed and expanded by any project.
9、Transferable
The underlying properties of MetaID’s NFT determine its transferable nature. Once transferred, whoever holds the MetaID will simultaneously own all the tokens and data assets it carries, including the deposited tokens, game data, social connections, activity, etc. For example, when you need to sell your game account, you don’t need to transfer your wallet private key, you just need to sell your MetaID in the trading market.
MetaID holders’ rights and interests
Platform Dividend Value
Getting Mintameta platform coins distribution rights according to MetaID index. Holding MetaID can get platform coins airdrop regularly, and platform tokens with platform income dividends as the value of relying on.
Game priority participation
MetaID holders are given priority access to games on Mintameta.
Growth Value
As MetaID’s active level, game data and social data accumulate, MetaID will also appreciate in value.
Creation Value
MetaID’s editable Avatar feature allows artists to create on MetaID to capture artistic value (sell for profit).
Eco-value added
Possible NFT, token airdrop, IGO/IDO whitelist status for products within the Mintameta ecosystem.
Ecological Deployment and Planning
MetaID, as an important part of the Mintameta ecology, is currently deploying on EVM chain.Later, they will use Layer 0 as the underlying cross-chain communication protocol to solve the problem of instant cross-chain and unified liquidity of game assets scattered on multiple chains.
Holders use MetaID to log in to any Dapp that accesses the SDK and API and authorize them to use information such as identity, avatar, game data, and social connections.
From the current information on Mintameta’s official website, we can see that the current projects in their pipeline mainly contain the following categories.
Puzzle Games
This kind of game in the traditional game belongs to 0 threshold, and user retention is relatively high in a class of games. Some of the cases listed above can also be found on Google play has a large volume of users. The key is to see whether the traditional game users can complete the transformation from Web2.0 to Web3.0, and if they can do it, it will bring a big incremental user for Web3.0.
SocialFi
Magicbaby is a SocialFi project inspired by keyboard keys combined with NFT playing methods. Its IP “Magic Keyboard Boy” has been shortlisted in many international film festivals and animation festivals, and won the Best Animated Short Film Award at the Eastern European International Film Festival. The content has received more than 100 million views on the Internet and has become popular.
In addition to the cute keyboard keys and the combination of letters and function keys, SocialFi has brought endless imagination and inspiration to the project, and I believe it will be a project worth waiting for.
Mobiel Game
Star Legend is a strategy mobile game based on the theme of western future science fiction. It cleverly combines RPG and card elements, and shows the elements of the universe in the game interface through the web culture art processing.
Conclusion
As the cryptosphere ecosystem is further enriched, Web3 identity will also become an important underlying public infrastructure module that is indispensable to the cryptosphere. The content and social applications popular in Web2 will be rebuilt based on Web3 identities in the future. It is conceivable that users can log in to different social/content/game applications through the same Web3 account in the future, and the users’ on-chain behaviors can be synchronized to this application to continuously accumulate identity value. Such an identity application ecology is not available in Web2, a new Web3 native track, a blue ocean.
In addition to its own characteristics, MetaID can create a solid basic identity for users to enter Web3.0, and the platform behind it, Mintameta, brings more scenarios and space for its future application and development.
Additional information.
What is Mintameta?
Mintameta is a bridge that links games and blockchain.
Mintameta platform provides a first-class blockchain fast access solution for game developers and operators.
It also provides players with a series of products and services such as games, DID, DeFi, and social, creating a Web 3.0-based portal to the meta world.
MetaID Official Website：https://metaid.finance/
Mintameta Official Website：https://www.mintameta.com/
