The reitio Protocol
Build. Boost. Explore. Get ready for the next phase of the open metaverse.
Our platform facilitates a seamless onboarding experience for metaverse actors via a permissionless metaverse protocol that unlocks accessibility and interoperability. The reitio ecosystem will provide unique ways that users can leverage to create, assemble, fractionalise, and share 3D models.
4.1 Virtual Asset Creator
Presently, NFT minting on marketplaces is through uploading of predetermined file types. However, at reitio, we would like to bring one step beyond in terms of virtual asset creation with the Virtual Asset Creator. Users will be able to create metaverse assets without limit. Through the Virtual Asset Creator, it empowers the users in expressing their creativity by creating and customizing their desired virtual assets.
The drag-and-drop feature of the Virtual Asset Creator is a unique aspect whereby it is a codeless design tool which provides a user-friendly environment that technical and non-technical users could commence with the asset creation process almost immediately. It also features many unique default elements, including blocks, widgets, and modules that users can choose from when creating their very own virtual assets.
4.2 Virtual Asset Swap
We want to grant our users the freedom of not only buying and selling but also to exchange their virtual assets with other users through the virtual asset swap feature. It is an avenue that allows for easy and direct exchange of virtual assets between users. When two individual users are interested in the virtual assets held by each other, they could skip the process of regular transaction prior to attaining their desired pieces simply by exchanging the virtual assets.
In addition, users will also be able to swap their virtual assets with the platform’s governance token, REG of the corresponding value. This would unlock liquidity for the virtual assets possessed by users and provide them with more options for platform related activities. reitio will leverage on the Decentralized Finance (DeFi) mechanism of cross collateral feature to allow for virtual assets collateralization to facilitate borrowing and lending of cryptocurrency assets. This would benefit in providing liquidity and flexibility to users who do not want part ways with their virtual assets in enhancing accessibility to cryptocurrency assets which could be utilized for purchase of more virtual assets.
4.3 Open Metaverse Interoperability
We envision the future of an open Metaverse where virtual assets could be bought, utilized and sold across the various virtual worlds. For that to happen, interoperability across the vast Metaverse would need to be inaugurated. With the present virtual worlds, the users could only limit their creation and experience within these individual capsules.
Therefore, reitio aims to build cross chain bridges to establish the interoperable connection between these virtual worlds built on different blockchains. This enables the facilitation of virtual assets deployment and transfer across virtual worlds. With the added connectivity, it would bring forth a frictionless and seamless Metaverse experience.
To facilitate the true open metaverse experience, reitio aims to develop the de-facto, time-based NFT standard for creator NFTs: the “(Virtual Asset Standard)VAS-122”. This enables future artists to create world-agnostic virtual assets straight from reitio’s Virtual Asset Creator interface. Behind the scenes, reitio will automatically embed the metadata on-chain based on the visual design of the created virtual asset and mint its corresponding VAS-122 token. This way, user-created virtual assets will be displayable across multiple virtual worlds, as long as their engines support the VAS-122 standard.
Powered by reitio bridge (lock-and-mint architecture, similar to Wormhole), the virtual assets will also be chain-agnostic. After the virtual asset is created, users can proceed to deploy through our platform. If the specified virtual world runs on a different chain, once the user confirms the deployment through the platform, reitio will automatically bridge the asset to the user’s address on the subject chain. Hence, users can just focus on what they do best - creating virtual assets for their world(s) of choice, and they will be treated to a seamless experience on reitio’s platform through its user-friendly interface.
4.4 Data Aggregation & Monetization
reitio strives to curate and unlock the value of Metaverse related datasets which provides game-changing insights for our users. With that, we will implement a Metaverse Data Marketplace to assist users such as content creators, metaverse advertisers and retail investors in streamlining market research via a transparent ecosystem. Our users have full control of their individual data but at the same time having the option to monetize through the sale of selected datasets.
The Data Marketplace leverages blockchain-powered secure transactions and smart contracts to allow users in transacting data streams, maximize profits with machine learning, and even inculcate a fair and transparent promotional methods in a NFT marketplace. In addition, as the platform generates more datasets with the increased user activities, users will have the opportunity to own a piece of the data with unique algorithmic patterns.
However, the generative art will not be created unless users specify to mint a new virtual asset. The art is generated instantly when this is done, allowing a user to own and interact with it. Each time a user mints a virtual asset, the blockchain generates a seed.
The platform then generates a unique art by using the data available on the marketplace. Once created, the platform distributes the generative art to the marketplace, granting creators the right to the exclusive virtual asset and some perks if they wish to stake such assets on the marketplace.
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