The Propel MaaS: Rapid Multi-chain Metaverse Development at Low Cost
The virtual world is no longer limited to browsing web pages on the internet. The ever-increasing applications of the internet and the rise in virtual interactions between users from all corners of the earth have gradually influenced the creation of an entirely digital world. This virtual world allows users to interact with each other and other digital objects in real-time, just like they would do in a real-world, and it has a name — the Metaverse.
The Metaverse concept is a natural progression in the advancements of the internet. It extends the physical world into a virtual domain, complete with the capabilities that enable users to meet and interact with other users and objects as part of day-to-day business. The metaverse further widens the reach of its users as they are no longer confined to physical and geographical limitations.
While the idea of metaverse originated in science fiction, open-world games like Second Life and SIMS offered a peek into the concept, albeit in a closed environment for entertainment purposes only. However, the developments in Web3.0 and the blockchain economy have now turned it into a fully functional digital ecosystem with opportunities to conduct business and exchange real value amongst the participants.
Today’s blockchain metaverses offer a decentralized virtual space with users represented by their avatars. They are free to shape their surroundings and buy and sell digital goods in NFTs with cryptocurrencies. Meanwhile, the underlying blockchain technology ensures the safety and security of all transactions happening on the metaverse. For example, every avatar in the metaverse can be readily verified by its representation on the blockchain, confirming to a user whether they are interacting with the right person or an impersonator. They can make payments for digital goods and services in the metaverse using cryptocurrencies, which are settled in real-time. These virtual goods are tokenized representations recorded on the blockchain, ensuring the buyer has absolute ownership until it is transferred to someone else. In many cases, these tokenized digital assets in the form of NFTs represent real-world products, making the token holder the owner of the actual product.
The blockchain metaverse continues to find new applications as more and more DeFi and NFT components impart new functionalities while the ecosystems achieve interoperability across multiple protocols.
The Need for Metaverse-as-a-Service
Meanwhile, the fast-gaining popularity of metaverses also presents a massive opportunity for innovation. As the digital landscape changes rapidly, there is a need for fast adaptation among all industry segments. In such a scenario, the only way to stay relevant and gain the first-mover advantage is by finding the quickest, most sustainable, and reliable option to create solutions that meet the needs.
Metaverse-as-a-Service (MaaS) is a relatively new on-demand delivery model for various software, tools, and solutions necessary for the rapid development of metaverse ecosystems. These components can be readily customized and implemented in different combinations to create metaverse ecosystems. The MaaS components are tailormade, keeping the diverse requirements that may arise while developing metaverses.
The use of MaaS solutions will drastically reduce the development times, enabling projects to implement their metaverse ecosystems or become part of existing metaverses. In addition to the savings in terms of time and resources, the custom libraries, smart contracts, DeFi, and NFT modules will ensure that the projects don’t face any compatibility or security issues, which is usually common while developing from scratch and requires extensive testing and audits.
For brands, MaaS provides ready solutions that enable them to rapidly expand their channels and solidify their presence in the metaverses. These channels will help them deliver digital as well as physical goods to the metaverse users, appealing to their vanity and necessity.
Pioneering the MaaS Segment
Propel is one of the first platforms to offer MaaS solutions in the crypto industry. Propel has extended its DeFi-as-a-Service offering to include all the necessary tools and modules for metaverse development as a comprehensive solutions provider.
Using Propel’s multiverse infrastructure solutions, users can create their metaverse or build products for existing metaverses on multiple blockchain protocols. All the solutions offered by Propel undergo stringent testing and numerous rounds of internal and external security audits to ensure compliance with best practices and cybersecurity standards.
Some of the significant MaaS solutions offered by Propel includes
Smart Verse Contracts
Propel’s expertise in creating custom smart contracts for virtually every DeFi scenario has enabled it to develop smart contracts networks supporting linear and cascading operations. Smart Verse Contracts enable automation of various functions through a series of smart contracts interconnected through the logic of creation and functionality. These contracts can be customized to receive different kinds of user inputs to trigger appropriate responses that conform with the metaverse rules.
They play an essential role in enabling interactions between users, objects, and metaverse economics.
Metaverses are a combination of gamification and functionality. While gamification brings in interactivity, the functionality of the ecosystem is governed by DeFi components. Propel enables seamless integration of the gamification and financial components, complete with the tokenomics, DeFi, and NFT elements to present GameFi.
The GameFi module accommodates all the possible services that are linked to DeFi and NFTs. Projects can customize and integrate these modules into their ecosystems to support player and investor transactions, NFT creation, NFT Marketplace activities like buying/selling, renting, auctioning digital assets, and more against their native tokens. The GameFi modules can also be used to support gameplay and rewards mechanisms in decentralized games.
NFTs are the building blocks of metaverses as they represent various elements within the ecosystem. These NFTs can represent a range of things, including actual physical goods in the virtual world. The Propel NFT utilities for metaverses enable projects to extend NFT tokens’ functionalities by making it possible for users to rent out and borrow NFTs, fractionalize NFTs for partial liquidation, or transfer complete or partial ownership of articles in the metaverse and more.
Among the Propel NFT Utilities is the Staking NFT for metaverse participants, where users can lock their NFTs for a particular duration to earn additional rewards.
The Core Metaverse package is a complete, configurable, and secure ERC-20 and ERC-721 standards tokenization solution. It enables project creators and brands to tokenize virtual products in the metaverse applications, making it possible to build communities, offer attractive merchandise and other digital assets to users. Propel’s Core Metaverse plays an essential role in enriching the metaverse experience while providing an opportunity for everyone to play a creator role in the ecosystem.
The $PEL Token
The Propel Platform is fueled by its native $PEL utility and governance token. $PEL is used as the preferred medium of value exchange within the Propel ecosystem. It is also a prerequisite to avail its entire suite of blockchain infrastructure solutions to build next-generation DeFi and Metaverse applications.
Propel has set the total supply of $PEL to 100 million tokens, most allocated to various development and marketing activities. A small portion of the tokens will be offered to the crypto community as a part of its upcoming $PEL public sale on the Hot Cross platform starting Dec 7, 2021.
More details about the $PEL public sale is available here.
The $PEL token sale offers an opportunity for participants to become part of the Propel community. By becoming a $PEL token holder, users can participate in Propel’s governance through community voting, earn staking rewards and gain an opportunity to participate in the Launchpool offerings. They can also contribute $PEL pairs to the liquidity pool on AMMs and earn additional rewards through LP staking.
Propel is a global blockchain infrastructure solutions platform that offers end-to-end, plug-and-play infrastructure solutions to DeFi, NFT, and Metaverse projects. Propel’s solutions are available for multiple blockchain ecosystems and include multichain capabilities.
Propel holds the distinction of being the only provider offering DaaS, MaaS, and Staking solutions under a single umbrella.
Learn more about Propel