Bit.Country: The Door of All Beings to the Metaverse
Recently, Bit.Country, a project allowing users to create their own metaverses, has secured $4 million in its seed fundraising round. The round was led by Hypersphere Ventures and Digital Financial Group (DFG). Other participants include YBB Foundation, Walsh Wealth Ventures, Animoca Brands, Anti Fund, Digital Renaissance Foundation, LD Capital, OKEx Blockdream Ventures, NGC Ventures, Waterdrip Capital, CMS.
It is worth mentioning that this round of fundraising is supported by many investors on social media fields/KOLs such as Cryptogodjohn, MRBeast, KSI, Tobias31, Lazarbeam, MRfreshasian, Lachlanyt, and Cryptowizardd, with over 200 million fans on Twitter alone.
Bit.Country : A mission to popularize metaverse experience
Bit.Country is a multiplayer virtual world in the concept of metaverse, with its own universe, currency mechanism, economic system, and governance system. Like MMORPGs, players can customize their identity, avatar, lifestyle, and even issue their own tokens to buy slot, neighbors, and furniture.
“Metaverse” was coined in Neal Stephenson’s science fiction novel Snow Crash. Metaverse is an Internet world that is parallel to the physical world, a digital space embedded in the real world, as portrayed in movies like Ready Player One and The Matrix.
“The people are pieces of software called avatars. They are the audiovisual bodies that people use to communicate with each other in the Metaverse. ”
In 2019, inspired by this concept, the founders of Bit.Country had the plan to create a new way to socialize on Web 3.0 that will provide a new lifestyle and governance. Everyone can create their own Bit Country, issue their own tokens, and have autonomy. Currently, Bit.Country has three goals including:
- A decentralized world governed by their community.
- A decentralized marketplace for everyone to trade.
- An open NFT protocol to make the objects in the virtual world usable and tradeable.
“In this virtual world, people can socialize and trade, play games, create digital content, realize their dreams, and improve together. Every meta-human in the Metaverse is an adventurous, energetic explorer with a never-ending enthusiasm to expect nothing but surprises. — in a nutshell, it’s more beautiful than the real world.”
Bit.Country’s official WeChat account
Bit Country team believes that one of the primary problems facing the Web3 world is the high threshold. Therefore, Bit.Country will adopt a more user-friendly UI/UX design and guidance to lower the threshold and expand the user base, committed to build a more decentralized and human-oriented community.
Bit.Country has also rolled out a 6-week course (Bit.Country Academy) with IndustryConnect, a world-renowned online training company, teaching everyone how to live in Bit.Country from scratch.
In Bit.Country and its unique economic system, people’s value will be virtuously circulated and eventually benefit the whole network.
- Learn to Earn
- Play to Earn
- Build Communities to Earn
Bit.Country is committed to give community members ownership and a say in community and has been working with technology education partners to test new paradigms for community engagement and 3D interactions.
For more details, we recommend you to read Bit.Country White Paper
#1 Assets in metaverse
In the Bit.Country world, every resident can issue or purchase virtual assets in multiple ways including:
Like Pixel in Minecraft, A block is an important container of content in a community. Within the land of the block, the area can be subdivided into sections independently ownable and tradable, and be placed with assets to display NFTs and run events.
Community Token & Economy
In the Bit.Country, creating a community can be easier and fun. You can issue your own tokens to incentive people who contribute to your community. You can set a currency for your bit country and have a say in the growth and policies of your bit country. The incentives can cover activities such as tasks, content, and more. As your community grows enough, bit countries can be auctioned.
Residency & Governance
Everyone can choose their favorite country and become a resident of a bit country. Being a resident grants you multiple rights, such as the right to own land, create content, participate in the business, build the community, and more. You are welcome to be a member of any number of bit countries.
Residents with tokens are able to cast their vote in policies, propose new policies, and more; related to the bit country’s sovereignty. Eg. supply of land.
Continuum is a map in Bit.Country. Different from real-world, its future shape will be completely driven by the community members. New spots will be proposed according to the on chain algorithm. The parameters for proposing new slots consist of the number of BCs, population and activeness of the ecosystem. The location of the new slot will be determined by NUUM holders.
A bit country can participate in the auction for a spot on the Continuum.
Location is so important that it can define a country’s geopolitical relations and social harmony. In addition, Bit.Country is considering other ideas to promote a more equitable development of each region including:
- Good Neighbor Protocol is to ensure you have a say about who can be your neighbor.
- Council/committee position for the bit country to vote.
- Possibility to receive sponsorship from the platform treasury to cover costs/encourage growth.
- Bit country local tokens are promoted to be listed in the liquidity pool.
- Only bit countries on the Continuum can be staked.
#3 Supply of Spots(WIP)
The spots available on Continuum are determined by the onchain logic. The number of Spots generated is proportional to the countries on the Continuum. Taking Xbc as the number of Bit countries available on chain, and let Yslots be the number of slots made available.
Bit.Country is building a decentralized marketplace for auctions. The auctions and deliveries of items will be completely decentralized and governed by the blockchain. Not only do they support chain native assets (NFTs including artworks, characters, furniture), but also provide support for external assets to be traded as NFTs on the platform once imported. This means that marketing in the real world can be fully extended to online. NFTs can be traded with residents within the same block, bit country, or entire network.
While each bit country has its own rules and regulations to be governed, NUUM holders have the right to participate in the design of the entire world. For more details on how to participate, please refer to the white paper or subsequent community rules.
Co-founder & CEO
Senior software engineer, Polkadot Ambassador. Co-founder of MVP Studio( a software development studio). Former Technical Lead at data.com, TXNZ, The Dairy.
Co-Founder & Game Architecture CTO
Leading in game project development at MVP Studio since 2019 and won the Business Vision Bounty at Block Hack Global out of 120+ hackers and 24 projects.
Co-Founder & Blockchain Architecture CTO
Former core developer and senior software architect at MVP Studio, responsible for Bit.Country’s Rust and Substrate frameworks.
Revenue is from the native chain currency NUUM. NUUM is used to perform many of the activities on the platform:
- Staking for great communities
- Universal currency for purchasing resources
- Gas fee for transactions.
- Purchasing virtual DApp from the store.
- Trade on the marketplace.
- Currency exchange.
- Minting local tokens.
- 50% of tokens are designated for distribution via public sale and other promotional methods to the general public.
- 25% are allocated to investors
- 20% allocated to the founding team.
- 5% is allocated for community growth
- Bounty Program
- Dapp Grant
- Stage I — Early Access
Bit.Country opens to early access. Content creation & primary community activities, reward & mining features, and invitation system.
- Stage II — Incremental Release
Progressively release features related to activities in metaverse.
- Stage III — Blockchain
- Stage IV — Enable Cross-Chain NFT Asset
Enable Cross-Chain Asset support from different chains.
- Stage V — Crowd loan & Parachain
Launch crowdloan campaign and obtain the parachain slot.
Disclaimer: This article is the information and research of YBB Foundation’s portfolio only and does not constitute investment advice. YBB Foundation makes no warranties, promises, and assumes no responsibility for the third-party services and products mentioned herein. Investment in cryptocurrency carries a high degree of risk and should be evaluated with caution.
YBB is a web3 fund dedicating itself to identify Web3-defining projects with a vision to create a better online habitat for all internet residents. Founded by a group of blockchain believers who have been actively participated in this industry since 2013, YBB Foundation is always willing to help early-stage projects to evolve from 0 to 1.We value innovation, self-driven passion, and user-oriented products while recognizing the potential of cryptos and blockchain applications.