Hello fren, are you bored with the current metaverses? Not too excited for P2E tokenomics, but don’t want to seem against the grain (muh Axie)? At Lost Labs we’ve been cooking up a concept to combine all the excitement of NFTs while plotting the next phase of online metaverse experiences. Below you’ll find a summary of Contribute-to-Earn with a Whitepaper and the full smart contract repo in the coming weeks. This idea has been brewing in the coffers of Lost Labs since 2019 and we are excited to finally be able to realize this project as the greater NFT/metaverse community has grown to the level to make it viable.
To start, Contribute to Earn is a catchy phrase we’ve coined to explain a rather new aged topic with theories not yet explored ad nauseum.
Contribute to Earn is built on the following primitives:
- Communities are groups of properties along with buildable aspects.
- Property in the metaverse is leased from the community.
- Property is valued by the current lessee but generally consists of tokens staked, NFTs in the property and location of property.
- Lessees of a Property are required to pay a fee on the value of their Property.
- Property can be purchased at any time by a community member for the value listed.
The Fees collected from the Properties will go into individual Community DAOs, referred to as a Decentralized Autonomous Community. The members of the community decide what to do with the funds, redistribute to property lessees, pay for things around the community - building, running events, and managing resources. Cross community and other in-metaverse activities are present as well.
This new mechanic is explored in Lost Labs project Ecto, and is realized with a 2D version of the metaverse, The Sanctuary, for rapid feedback on design. In the background we are preparing the full 3D version, dubbed The Ectoverse.
We think this strategy will produce the self sustaining metaverse we all deserve. With a fully decentralized community building environment, communities can spawn up and work to make their corner of the metaverse exactly how they want, which will in turn provide a greater overall experience for the Ectoverse. So come join us at Lost Souls where we are building The Sanctuary and @EctoFinance where we are developing “Contribute-to-Earn“ reach out if you’ve explored these topics and would like to join the team!
