Moon Capital Portfolio #6 — Matrix World
Matrix World is a decentralized open virtual world that allows users to interact with immersive 3D applications running on different blockchains at the same time. As a “rookie” of the Metaverse virtual world, Matrix World has gained the attention of individual investors and many institutional investors in the market during the land pre-sale phase.
Since the launch of the Matrix World project in October 2021, a number of advances have been made, including the virtual world land NFT exceeding US $7 million in secondary market transactions. Creator of public blockchain Flow, the well-known NFT companies Dapper Labs, Phanta Bear which is supported by Jay Zhou, and many other companies and projects have been or will be built on Matrix World.
As one of the few Metaverse virtual worlds projects in the Flow ecosystem, Matrix World has relatively large advantages in ecological collaboration and ecological co-construction in Flow. At present, the virtual world land NFT released by Matrix World is only the beginning of Matrix World Metaverse ecology.
Introduction to Matrix World
The team behind Matrix World is Matrix Labs, which is composed of a group of like-minded crypto enthusiasts. At the same time, Matrix Labs is also the technical support team of Phanta Bear, an NFT collection supported by Jay Zhou. Before the launch of the Matrix World project, the core team of Matrix Labs conducted in-depth research and application of practical projects in crypto games and multi-chain interoperability.
In Matrix World, users can take advantage of the standard 3D open world features and apply them to Metaverse virtual scenarios, including but not limited to building 3D architectures, hosting virtual conferences, showcasing NFTs, and more advanced features, such as creating and hosting 3D DApps using Matrix’s built-in creation services and computing resources.
Matrix Land is the basic unit in the ecology of Matrix World. During the pre-sale phase, Matrix World issued 5,000 NFT plots on Ethereum and Flow networks respectively (a total of 10,000 plots). Matrix Land Map consists of land, and NFT plots on Ethereum and Flow networks divide the entire Land Map in two, just like the “Chu River and Han Boundary” in Chinese chess. Matrix Lands can be traded and transferred through the blockchain network, and its owners retain full control over the creations on their land in Matrix World.
Matrix World-Programmable Multi-Chain Metaverse
Thanks to the core members of the support team behind Matrix Labs, implementation and research on crypto games, metaverse and multi-chain interoperability in early days, Matrix World has features such as programmability, multi-chain connectivity and open world settings.
• Programmability
Matrix World is a Turing-complete metaverse, which means that every object in Matrix World is programmable as a living entity. By introducing the concept of programmable objects (Matrix Objects), these programmable objects run on a virtual machine called Space Virtual Machine (SVM). SVM manages the properties, appearance and lifetime of each programmable object, and users can customize the behavior and properties of these objects.
• Multi-chain connection
Matrix World will maintain identities in multiple blockchain networks. Currently, Matrix World supports two networks, Ethereum and Flow, and will later integrate more EVM and layer2-based blockchain networks. At the same time, creators can also connect programmable objects to external smart contracts running on multiple blockchain networks.
• Open world
Matrix World’s vision is to eliminate the barriers between different networks of the blockchain and build an open 3D Metaverse platform based on Matrix World’s open world view. At the same time, Matrix World will also provide ecological co-builders with a series of tools, including object and scene editors, which enable any co-builder to build new 3D objects in Matrix World and import existing 3D objects from external scenes.
Matrix Land — The Foundation of Matrix World Metaverse
In infrastructure projects, taking public chain projects as the core will lead to many ecological projects, and eventually form an extremely complete public chain ecological network. Also, in Metaverse world, there is a similar logic. The land NFT in Metaverse virtual world is not only a ticket for users to enter Metaverse, but also an important foundation for co-builders to build ecology.
The smallest unit of Matrix World is Matrix Land, which has limited computing and storage resources. During the pre-sale phase, Matrix World will sell land NFT on Ethereum and Flow networks in three batches. Matrix Land can be marketed and there are 4 types of lands that can be traded and transferred, namely 1x1, 2x2, 3x3 and 6x6. At the same time, Matrix World will also maintain 10 x10 lands to support ecological co-construction project activities and the construction of ecological infrastructure buildings.
The main uses of Matrix Land NFT holders include:
- Transactions and transfers.
- Set properties and parameters.
- Retains full control of the creations in Matrix World lands.
- Users can build 3D architecture, hold virtual meetings, display NFT, etc.
- Create 3D games and 3D marketplaces.
Key Use Cases for Matrix World
The core empowering of the land NFT of Metaverse virtual world comes from the main use cases of the project, and whether it can continuously attract users and ecological co-builders. The value growth of the land NFT is highly dependent on the construction of ecology and use cases, continuously empowering value from the actual virtual application scene, attracting more users to enter, thus forming a circular value growth of “user-land-virtual application scene”.
Key use cases in the Matrix World plan include:
- Immersive 3D DApps
Matrix World will provide users with a series of SDKs and specific programming languages to develop immersive 3D DApps. Users can define the shape of 3D objects, add materials and textures, create lighting, add transformations and other functions.
- Programmable NFTs
Matrix World will support the creation and import of 3D programmable NFTs. Users can not only create brand-new 3D objects from scratch via tools, but also convert 2D/3D images from external scenes into specific Matrix Objects. At the same time, users can program Matrix Objects to make them more practical in the Matrix World ecosystem.
• Cross-chain socializing and trading
Multi-chain connectivity is one of the core features of Matrix World, so Matrix World provides users from different blockchain networks with a place to gather and socialize across the chain. Users can hold cross-chain virtual conferences in Matrix World, conduct cross-chain advertising brand exposure, etc. At the same time, Matrix Wolrd will also allow cross-chain payments and transactions to enhance the liquidity of their ecological assets.
In 2022, Matrix World plans to release version 2.0 of the programmable world, as well as the application programming interface and Software Development Kit for co-builders and developers, to promote the practical application of use cases in the Matrix World plan.
Matrix World Core Team
The team behind Matrix World is Matrix Labs, founded by a group of crypto enthusiasts. The core members of Matrix Labs met in the Ethereum ecosystem as early as 2017, initially composed of a group of students and professors from well-known universities in Canada, and gradually grew to more than 50 team members worldwide.
At the same time, the Matrix Labs team assisted in the development of a cloud multi-chain IDE- ChainIDE. At present, ChainIDE has helped 300,000 developers in 185 countries around the world to write more than 8.5M + smart contracts.
Why We Invested in Matrix World
Moon Capital believes that if an equation is used to measure whether a Metaverse is worth participating in, it can be:
Sustainable Metaverse = Narrative Land + Character Incarnation + Ecosystem Co-builder + Potential.
- Narrative land
First of all, in Metaverse world, the land/space is the “soil” that carries the current and future narrative of Metaverse, and users need a carrier to build infrastructure;
- Personal avatar
Secondly, the user needs a personal avatar that can represent himself in the virtual space, and can decide the image and attributes of the character by himself, which needs to be programmable;
- Ecosystem co-builders
At the same time, building a vibrant space from scratch requires the consensus of every participant in ecology to jointly contribute to the prosperity of the ecology.
- Potential
Finally, in addition to the above three factors, there are many influencing factors to judge whether a Metaverse world is sustainable, such as project marketing capabilities, actual use cases empower, brand influence, ecological partners, team research and development capabilities, etc.
As an early institutional participant in Matrix World, Moon Capital believes that it meets our criteria for a sustainable and continuously empowered metaverse world.
Matrix World is very popular in the pre-sale phase of land, and the NFT transaction volume in the secondary market exceeds 7 million US dollars. In the future, land will also be used as a carrier for many virtual scene use cases to build infrastructure/buildings. Matrix World allows users to program loaded NFT objects (Matrix Objects), and users can freely set avatars, attributes and parameters of virtual characters.
At the same time, Matrix World has established ecological partnerships with Dapper Labs, Flow, Ezek (Phanta Bear), Mask Network, ChainIDE and other projects in terms of ecological co-builders. As one of the few Metaverse projects in Flow ecosystem, many Flow ecological projects will be connected to Matrix World as builders one after another.
In 2022, Matrix World plans to continue to work on the globalization of communities and brands. At the same time, it will also carry out the development of the Beta version of Matrix World, and work with ecological builders to build infrastructure and buildings based on Matrix Land. We believe that Matrix World is still in a high-speed development stage. In the future, with the advancement of ecological construction, its ecological asset value and ecological scale will achieve rapid growth.
About Moon Capital
Moon Capital is a cutting-edge investment firm focused on blockchain and cryptocurrency. Moon Capital portfolio includes, Woo Network , Infinite Launch, Litentry, Subsocial Network, Bifrost, DeepDAO and some other high-quality projects.
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