Somnium Space (CUBE): A VR World for the Decentralized Age

What Is Somnium Space?

Somnium Space is a virtual reality (VR) world built on the Ethereum blockchain. An open-source platform, Somnium Space allows users to buy digital land, homes, buildings, and myriad in-game assets of value in its online multiverse. The immersive dynamics of Somnium Space allow players to build, script, and monetize environments — all while exploring the creations of other participants. While a user might go swimming, visit a museum, or dine in a restaurant built by another player in the Somnium Space metaverse, the extent to which Somnium Space users can build unique experiences, worlds, and assets is essentially limitless.

Unlike traditional multiplayer VR games where users are divided into sub servers and mirrored-instanced rooms, Somnium Space hosts all players in one vast world. Within that broader VR universe, users can create Somnium Space environments that are fully programmable, customizable, and independent VR experiences. Further, non-fungible tokens (NFTs) and assets from within the Somnium Space are compatible with VR metaverses and platforms throughout the broader blockchain ecosystem.

Thus far, the Somnium Space offering is broken down into four elements: an SDK, which allows for creation and customization of avatars and property; virtual reality experiences; a builder module for creating environments and structures; and an NFT marketplace for trading land and NFT-based assets. Somnium Space has deeply incorporated NFT technology, allowing players to bring NFTs from around the decentralized ecosystem into the Somnium Space universe.

Somnium Space Tokenomics

On traditional gaming platforms, users generate value that flows to the game developer. Players either purchase games, or with the popular freemium model users play for free but purchase upgrades, customizations, and access a la carte once in a game’s ecosystem. Typically, players can't transfer in-game assets or use them outside of a specific game environment. For example, if a player pays to upgrade their armor, unlock a new vehicle, or access new worlds, that value remains locked in the game. You can’t wear your armor in your favorite basketball video game, nor can you unlock the asset’s value off of the platform upon which you purchased it.

In contrast, blockchain-based games and VR metaverses like Somnium Space reverse this flow of value to benefit players through tokenization. As an Ethereum application, Somnium Space allows players to tokenize their in-game assets such as land parcels, avatars, collectibles, and wearables. This dynamic decouples the Somnium Space company from the value generated by players and allows players to access the value created in the metaverse throughout the wider crypto and token economy. The Somnium Space economy is comprised of three different types of token assets. Let’s have a look at all three:

Somnium Space’s Cube Token (CUBE)

Somnium Cube (CUBE) is an ERC-20 token that serves as the Somnium Space platform's native utility token. The CUBE cryptocurrency streamlines in-game transactions between players and can be considered the equivalent of buying game tokens at an arcade. With an Ethereum wallet, players can hold ETH, CUBE, and NFTs (ERC-721 tokens). CUBE serves as a bridge between these assets to facilitate in-game, ecommerce transactions. As the Somnium metaverse expands, the CUBE token will develop in-world utility and allow players to exist more deeply in the VR metaverse.

Somnium Space Land Parcels (PARCELs)

Somnium Space conducted two of what it calls Initial Land Offerings (ILOs) when issuing Land Parcels (PARCELs) to platform stakeholders — both on the OpenSea NFT marketplace. If players want to build an independent Somnium world they must first obtain one of these land parcels. Players can also place any NFT on their land parcel and explore it in VR.

Somnium Space Avatars (AVATARs)

In November 2020, the Somnium Space team took another step towards expanding the utility of the CUBE token by introducing avatar (AVATAR) tokenization. Players can now mint their own full-body VR avatars onto the blockchain using CUBE. To participate, players purchase an avatar using CUBE and it becomes part of their inventory. These avatars are compatible with virtual worlds across major digital platforms.

The CUBE token also allows players to buy another user's avatar as an NFT. CUBE in the buyer's wallet is exchanged for the NFT in the seller's wallet during the transaction. The ability to build avatars within the Somnium metaverse highlights the growing utility of CUBE tokens.

Karma Levels in Somnium Space

The Somnium Space Karma level represents how VR citizens perceive each other. Somnium calculates the Karma level of a player using key metrics:

• Ratings: How virtual citizens perceive them based on their interactions on the platform.

• Engagement: The value of each player's economic activity, time spent gaming, land ownership, and world discovery rate.

• Other Factors: Building activity, public participation, and event organization.

Players earn CUBE rewards based on their resulting Karma level, as do those who provide value to the community by acting as tour guides and instructors.

Somnium Space: A Growing VR Metaverse

VR gaming has seen continued growth as technology evolves to facilitate genuinely immersive experiences. VR platforms like AltSpace, VRChat, Rumii, and Engage have become popular platforms for everything from remote social interaction to company meetings. Meanwhile, the remarkable growth of Ethereum-incorporated metaverses like Somnium Space has built on the long history of massive multiplayer ecosystems by unlocking value in a way that was never possible before.

By integrating blockchain technology, Somnium allows users to monetize these VR experiences, and empower users to create a world in their own image in which they are the main creators and recipients of value. So while the gameplay may be virtual on Somnium Space, it aims to create an economy that transcends the limitations of the physical world in line with the ethos of decentralization.