STYLE Protocol: One Asset, Many Worlds

It’s not a secret: people love to talk about the Metaverse, but very few actually build it. That’s why there is a significant disparity between the concept of Metaverse and the practical reality of how it operates.

This is where STYLE Protocol steps in.

What’s STYLE Protocol?

STYLE Protocol is working hard to close this gap by enabling monetization and utilization of virtual assets across any Metaverse, game, or virtual world through NFT-sublicensing mechanisms and true interoperability.

CloneX's 3D Modelization in Different Metaverses
CloneX's 3D Modelization in Different Metaverses

Virtual assets are essential components of any virtual world, but they're not being used to their full potential. There are countless virtual items, such as avatars, fashion pieces, dragons, cars, shields, shoes, and more. However, these assets are often restricted in their functionality, and there is a need to make them more useful in gaming and Metaverse environments.

Diversity of Virtual Assets
Diversity of Virtual Assets

STYLE Protocol has identified two key ways to address this issue:

  1. Allow users to have a singular bridge for their assets → Enable them to use their assets across various platforms

  2. Enable users to quantify their assets and license them out to others → Open up new opportunities for monetization and usage

One of the most significant advantages of STYLE Protocol is its integration with five live Metaverses, including Crypto Voxels, Decentraland, Mona, Fantaverse, and The Sandbox, with more on the horizon. Now virtual asset creators, designers, brands, and owners can all take advantage of the protocol's potential.

Two Metaverses Where Integrations Are Already Live
Two Metaverses Where Integrations Are Already Live

They also integrated multiple blockchains to allow creators and owners to use their cross-Metaverse service (Harmony, MoonBeam & more).

STYLE Protocol has already attracted significant attention and support, including a pre-seed round with Protocol Labs, the foundation behind Filecoin, as well as other well-known VCs and Angels.

And it's not over yet! In addition to their cross-Metaverse bridge, they have developed their own UnrealEngine SDK compatible with countless non-web3 games (we told you STYLE was all about infrastructure to make ALL assets usable, regardless of games of Metaverses).

All in all, STYLE Protocol is paving the way towards a more functional and profitable virtual landscape where virtual assets are fully monetized and utilized. However, it wouldn’t be possible without the $STYLE token.

What’s the Utility of the $STYLE Token?

The $STYLE token is at the heart of STYLE Protocol's utility model, incentivizing all actors to participate and nurture the ecosystem while earning revenue.

Through a user-friendly front-end, owners of 3D assets connect and choose from a variety of options to use their assets in the Metaverse. Whether for personal use or generating revenue, owners submit their assets, which are then picked up by tailors - a DAO of talented 3D artists. The tailors create 3D assets that are then pushed back into the STYLE APY, which brings them to selected environments. Singular assets are given to the owner in the Metaverse, while non-singular assets are sold on marketplaces.

How STYLE Protocol Ecosystem Works
How STYLE Protocol Ecosystem Works

To use STYLE Protocol's platform fully, all participants require the $STYLE token:

  • Holders must hold a certain amount of $STYLE tokens to get their assets in

  • Tailors must hold $STYLE tokens to participate and earn revenue

  • Environments automatically buy back $STYLE tokens at every usage within the Metaverse, ensuring a deflationary system

STYLE Protocol will also offer users the ability to stake $STYLE tokens to earn rewards from the treasury over time. In the long run, the platform plans to extend the staking of $STYLE tokens as an extension to the Filecoin Network, allowing for even further decentralization and storage of 3D assets.

$STYLE Token Value Acquisition Mechanisms
$STYLE Token Value Acquisition Mechanisms

The $STYLE token has a total supply of 920,000,000, with 2/3 allocated for the long-term community and 1/3 for the team and investors. During the initial launch, 12% of the token will be given away to CEXs and Market Makers.

Later in March, STYLE Protocol will participate in the Fil VC Demo Day to present their latest updates to top US VCs like Sequoia, Dapper Labs and Coinbase Ventures.

And they have a good news for you…

Mark your calendars - the launch of $STYLE Token is set for 4/20

Who’s Behind the Project?

With 18 members on the team, STYLE Protocol has a diverse group of professionals working together to achieve their goals:

  • Leo Hilse (CEO) is a serial entrepreneur who built several successful web2 companies before shifting to web3 in 2020 with a fashion NFT business

  • Tim Segewitz (CMO) has a track record of launching successful NFT projects and valuable connections within major blue chip communities

  • Hamza Salem (CTO) spent eight years as a professor for advanced blockchain engineering and has a blockchain dev YouTube channel with over 65,000 subscribers

In addition to the talented team members, STYLE Protocol also benefits from a number of high-profile advisors. These advisors come from both the web2 and web3 worlds, and include self-made billionaires and an ex-CFO at Paypal. All of these advisors recognize the importance of the infrastructure that STYLE Protocol is building, and lend their expertise to help ensure the project's success.

Operational Team & Advisors
Operational Team & Advisors

Who Are Their Competitors?

As you may expect, interoperability in the Metaverse is a key feature that companies are trying to implement. The main competitor of STYLE Protocol is Ready Player Me, which has a well-known name and a significant amount of funding. However, their approach is very centralized and single-sided, with only one avatar maker and one avatar that they force into multiple Metaverses. To us, this approach does not align with the diverse visions of the Metaverse's future.

In contrast, STYLE Protocol's thesis is based on the idea that the future of the Metaverse should allow for individuality and creative freedom, with visualizations of different sizes and forms. Their approach with the token is also highly decentralized, allowing everyone to participate and make revenue if they decide to join.

Why We’re Hype About STYLE Protocol?

After reviewing the protocol, we are thrilled to announce that we have invested in their seed-round this month.

BHIP41 - Official Result
BHIP41 - Official Result

The platform's decentralized nature presents a great potential for monetization and usage of virtual assets in various Metaverses, facilitated by its NFT-sublicensing mechanisms and genuine interoperability. The fact that it has already integrated into five live Metaverses and garnered significant support from reputable VCs and Angels, leads us to believe in its potential.

We find the $STYLE token's utility model at the core of STYLE Protocol impressive as it incentivizes all participants to contribute and earn revenue while fostering the ecosystem. What sets the platform apart is its decentralized approach, which empowers creativity and individuality. This unique feature distinguishes STYLE Protocol from other competitors, making it a compelling investment prospect.

Given that STYLE Protocol's testnet is live and that the project has a proof of concept in place, we are thrilled to see the excitement it has generated among investors and supporters. The active engagement on Discord further supports our confidence in the project's potential for success.

They also recently unveiled the creation of their Creator Fund granting $500,000 to NFT-Collections and Metaverse builders to bring their visions to life and advance the industry with STYLE. If you’re interested, you can apply to join it here.

We are excited to see how the project develops and look forward the future success of our collaboration.

That’s all for today! Stay tuned for updates and join their Twitter for more info.

(PS: If you’re a builder, our DMs are open for projects looking for a killer DAO to help them grow ✨).

Twitter: BlockHub DAO
Author: Bitcoineo

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