What is the Metaverse?
Metaverse is a Web 3.0 concept that includes virtual and digitized spaces where users can interact in an immersive and 3D realm. Several tech giants such as Microsoft and Facebook are heavily invested in development and marketing of new Metaverses.
The estimated growth for this sector continues to gain value by the day with the estimate for 2024 set at $800 billion. However, at present Metaverse projects have limited traction on account of constraints in availability of updated hardware and software requirements.
What is Initial Metaverse Offering (IMO)?
Most investors who hold stocks or deal in cryptocurrencies are aware about the concepts such as Initial Coin Offering, Initial Public Offering, Initial Exchange Offering, and Initial DEX Offering etc.
These offerings are types of crowdfunding events for firms that are specific to a given sector or industry. A startup named KSM recently introduced a new concept to deal with the adoption constraints associated with Metaverse in the form of Initial Metaverse Offering or IMO.
Just like its name suggests, an IMO event is also a type of fundraising launch-pad that is specific to Metaverse projects. They are powered by their native communities and have a strong foundation by design.
The model of an IMO fundraiser is fashioned in a way that allows the funds to be routed to an idle Metaverse and create big opportunities for the co-founders of a given project.
How does Initial IMO work?
There are two main levels of IMO events. Here are the two classifications mentioned as under:
It is accessible using technologies such as Augmented Reality and XR worlds. However, the participants have to possess the required equipment such as a VR headset to partake in the activity.
There are other instances where the potential investors are able to participate in an IMO using the existing devices such as PCs to collect information, network with peers, and purchase a suitable investment product from Metaverse.
Key Features of an Initial Metaverse Offering
Here are some of the most important and essential components of an IMO mentioned below:
Launchpad is a medium for networking that connects different users and stakeholders to a Metaverse project.
The governance of Metaverses is usually decentralized to ensure greater individual autonomy. Therefore, transparency is an essential element in such as setup.
IMOs incorporate protocols to ensure that all users are kept in loop regarding the latest developments. In this manner, new users are also encouraged to join the IMO based on positive feedback within the local community.
As mentioned before, Metaverse is an extension of Web 3.0 technology. Therefore, every Metaverse incorporates features that encourage individual empowerment. On this account, decentralization is also one of the foundational features of IMOs that assure investors that there is no centralized control.
At the same time, decentralized platforms are unbiased towards all participants and rely on automation protocols such as smart contracts.
Top Metaverse Projects in 2023
Here are some of the most talked about and widely adopted Metaverse sectors. It is likely that most IMOs are organized by companies operating within this sector:
Decentraland, Axie Infinity, and Sandbox are some of the top gaming projects within the Metaverse. Games within the Metaverse and Web 3.0 sector bring innovative features such as decentralized governance, NFT trading, interoperability, and DAOs etc.
Real estate is another sector where Metaverse has gained a lot of traction. Biggest brands in the world and celebrities have rushed to purchase the virtual lands within Metaverses at a hefty price. These lands have a high value based on massive traffic and user-interactions.
Enjin is a multi-purpose Metaverse project on the Ethereum blockchain. This platform allows developers to host other Metaverse projects. At the same time, this project hosts NFTs, decentralized NFT marketplaces, and enable integration.
Metaverse Offerings or IMOs are likely to gain massive traction going forward. It is all about upgrading the current technical infrastructure and introducing new utilities.