IguVerse: A Bridge Between the Blockchain and Social Media
- Blockchain app for pet lovers that pioneers monetization of daily social media activity
- Ease of onboarding opens Web3 to the widest possible audiences
- Sound tokenomics strengthened by token utilities, as well as a complex system of reward conversion
Bali, Indonesia--(Newsfile Corp. - December 22, 2022) - IguVerse is a blockchain project that tackles sociality in a gamified way while striving to avoid the pitfalls associated with crypto apps. Pet lovers being the primary target audience for the project, IguVerse users can mint virtual pet NFTs with the help of AI and earn rewards for everyday social media activity, joining a community that promotes animal care and awareness of daily struggles of animals in need. This is achieved through integration of charity into the app and educating users on the existing animal welfare organizations.
IguVerse: bringing Web3/the blockchain to social media users
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IguVerse team has taken an original approach to NFT creation leveraging the power of the state-of-the-art AI technologies. In stark contrast to the NFT collections of the past, which are at most assemblies of pre-determined elements, with Iguverse, users are able to mint unique NFTs based on their own input.
The focus on social media monetization is an attempt to redefine the landscape of today's online sociality that is heavily dominated by the rules and ill practices of the biggest corporations. While giant social media companies monetize their users by exploiting their data and giving nothing in return, IguVerse tries to counter this trend by giving ordinary people the opportunity to take advantage of their social media activity and be rewarded for it without having a big following.
Since its launch, IguVerse has rapidly evolved into an ecosystem of sorts. Users are able to increase their earning walking their pets and playing an arcade game. The app also encompasses an internal decentralized exchange that is soon to be complemented with an NFT marketplace. Importantly, IguVerse has managed to streamline Web3-onboarding, poised to become a bridge between Web3 and Web2 by providing a sandbox experience of crypto to new users. The onboarding is further facilitated the ability to use Apple Pay for purchases - no prior crypto exposure is needed to start playing.
IguVerse CEO and Co-founder Andriy Tkachiv explained, "If Web3 is to become the new internet standard, it needs to appeal to users rather than investors. At IguVerse, we have a product that appeals to a wide audience. Coupled with our newbie-friendly approach, it is an effective tool that would introduce today's Web2 users to tomorrow's world of Web3."
Tokenomics structure of IguVerse
IguVerse appears to be standing the test of time and have cemented its place as a sustainable in-game economy. The numerous token utilities, such as in-app purchases, NFT upgrades and maintenance, as well as a complex system of reward vesting and conversion, provide the foundation for the promise of sustainability being actually realized. In the meantime, the team is introducing new measures with the goal of improving sustainability, including the regular burn of all IGUP tokens spent in the app and an increase in the mint prices.
At the moment, IguVerse has a thriving community on social media, as well as a constant inflow of new users into the app. With more than 100 thousand users on all major social media platforms and 230 thousand unique web-site visits for the previous month, the IguVerse app has been downloaded 80 thousand times and is being used by 15 thousand users daily. The bet on targeting the pet-centric userbase has proven to be a success. The teams' original research suggests that pet lovers have the highest %ERR on social media with 65% of them posting pet-related content twice a week.
Focus on charity
According to the founders, the mission of IguVerse is to bring about a new epoch in crypto, where it is making an impact in the real world. IguVerse's own focus is on animal welfare. The project allocates a minimum of 1% of users' rewards to the animal welfare organizations of their choice, as well as raises awareness of this important issue, motivating users to donate to charity and educating them about the animal welfare organizations available in the app.
IguVerse is planning to expand socialization mechanics in the app. Andriy Tkachiv commented, "Our next plan is a new social feed mode- it's a Tinder-like experience, an NFT pageant which gives users even more opportunities to connect with others and express themselves creatively."
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/149226