- Beginner's Guides
Everything you Need to Know About Somnium Space (CUBE)
What is Somnium Space? Well, it’s a virtual reality (VR) world developed on the Ethereum blockchain, which is also referred to as the Metaverse. On this platform, users can purchase land, import or build non-fungible tokens (NFTs), trade, and explore. The developers have, thus, designed the platform as a virtual space for users to live, play, and work, and also, of course, engage in the activities mentioned above. At the heart of it, though, it provides users with an experience to meet other people from across the globe in one virtual space. So, if you’re intrigued by Somnium Space and CUBE (more on this below), then here’s everything you need to know about it.
What is Somnium Space and What Is Trying to Do?
To get a clear answer to the question, “what is Somnium Space?” we must delve into what it’s trying to achieve. Well, this platform aims to fill a piece of the Metaverse puzzle that’s missing, which is to offer a virtual reality space like no other. Thus, the developers aim to create an expansive virtual world in which thousands of users can simultaneously interact with each other. Moreover, the devs want this virtual world to be an extension of the real world instead of an alternative.
The Vision of Somnium Space
Somnium Space aims to develop a Metaverse on three distinct levels. These levels include the technological level, the metaphysical level, and the commercial level. The idea is to use these levels to replicate and even enhance lived experiences by global citizens. Thus, users will have the opportunity to express themselves in unique and exciting ways. At the same time, they’ll be able to adapt and profit off of business models that are otherwise nonexistent currently. Somnium Space is designed to be a long-term project that continues to evolve as the world progresses to adapt to the reality it’s set in.
What Does Somnium Offer Creators?
Somnium Space offers various different creators the to build their own unique projects. Here are some opportunities this platform offers creators.
• Streamers can create their very own virtual studios
• Game developers will have the opportunity to share entire gaming experiences or short demos of them on the platform
• Developers can sell various digital assets, including avatars, for users
• Companies can set up a virtual store presence with a global reach
• Content creators can begin to earn money from Virtual Reality experiences they make
• Artists of all kinds can showcase their work
• Universities can conduct virtual classes with students from all over the world
• NFT collectors will have a decentralized market to trade with other users
The Nature of Somnium Space’s Economy
Somnium Space has three pillars that make up the nature of its economy. These pillars include the following.
1. A decentralized marketplace
2. Tokenization of experiences and assets
3. Virtual land tokenization
Thus, an economy such as this has some benefits for users. These benefits are listed below. Users can:
• Own everything that they create
• Use the Somnium Space open marketplace to sell their digital assets
• Have a creative outlet for developing and monetizing their land
• Tokenize their creations and sell them in the Somnium Space Metaverse
• Participate and enjoy an expansive and diverse virtual reality world that includes thousands of users at a single time for exploration, interaction, and work
• Participate in the global Somnium Space economy
What Is CUBE?
If you’ve done a bit of research on Somnium Space, you may also have at some point wondered, “What is CUBE?” Well, it is the token within the Somnium Space world. It’s an ERC-20 token. Think of it as a form of currency within the virtual reality world, allowing for quick and accessible transactions among players through this token.
What CUBE Allows You to Do
What can I do with CUBE? CUBE offers users many ways to purchase things in this world, such as gaining access to interactive areas within the virtual space. Users can also purchase other users’ avatars as NFTs. In that case, the NFT will be transferred from the seller’s wallet to that of the buyer. On the other hand, the seller would gain the CUBE token, and the buyer would lose it from their wallet.
There is a total supply of 100 million CUBE. It can, thus, be used for all forms of ecommerce within the virtual world, which include but are not limited to transactions such as purchases, sales, and land rentals. Moreover, on this platform, users that have an Ethereum address can hold CUBE, ETH side-chain tokens (which include users’ Avatar tokens), and NFTs (ERC721 tokens).
How to Buy CUBE
Buying CUBE is a straightforward process, and you can do it on various crypto exchanges. Some of these exchanges are listed below.
• Uniswap V2
• Huobi Global
You will need to have either Ethereum (ETH) or Bitcoin (BTC) to be able to buy CUBE. You can buy ETH or BTC from Binance. After that, you should make a secure wallet. A MetaMask wallet is a reliable one to consider. Just make sure you note down your password because that’s integral to keeping your investment safe. You can then trade your BTC or ETH tokens for CUBE on the Uniswap V2 crypto exchange. All you have to do is connect your MetaMask wallet to be able to make the trade. You can choose the amount of ETH you want to trade for CUBE. Once you have CUBE, you can choose to save it in a hardware wallet so that it’s always in your possession.
Last Few Words
The answer to the question, “what is Somnium Space?” should be a lot clearer now. Of course, there’s more to learn about it the deeper you get into it, but this is all you need to know to get started with using the platform. What’s more, is that the platform is available via a website as well, so you can use it on any platform, anywhere.
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