2021/10: White Paper - Accomplished
2021/11: Community Building(Telegram, Twitter) - Accomplished
2022/01: WhiteBIT Exchange listing - Accomplished
2022/01: Proof Of Concept - Accomplished
2022/04: Blockchain MVP - Accomplished
2022/05: Niche NFT(HNIN) circulation - Accomplished
2022/06: Pancake listing
2022/10: Mainnet Beta
1. Is Blockchain the infrastructure of Metaverse?
The answer is NO, even most of the blockchain fans may tell you YES. The computing and storage will increase due to the magnitude in Metaverse. Do you think Blockchain can support the current Internet or Next-generation Internet Metaverse? No, at least at this moment. The current blockchain technology definitely can't support billions of Metaverse users. The Metaverse giants choose Cloud as the infrastructure, and blockchain still has a long way to go. That's why the HMETA team is working hard to solve the problem of Asset Management in Metaverse, which is limitedly supported in current Metaverse. We are providing a solution for easy management and 100X faster.
2. What are the foundamental elements in Metaverse?
It is similar to your real life. You have US dollar and Canadian Dollar in the banking accounts; you have assets in your house, such as in your living room, dressing room, bedrooms; you have collections, you have cars, you have pets......just imagine how much you need to pack or bring when moving to somewhere else. If it's a business, think about the asset management of the accounting system. You need a Certified Public Accountant to manage your business.
In Metaverse, you will have different profiles each of which has different assets (e.g. avatar, skin, cosmetics, and other assets). Also in Metaverse, the lifecycle of each asset is dynamic, and so it's more complicated than those are in real life. HMETA is designed to provide solutions for this level of complexity. The idea of asset management is different in metaverse, that is why we invent MetAsset engine to disrupt the traditional concept to facilitate the goal of security and efficiency.
3. We've already had NFT technology, why do we need HMETA MetAsset Engine solution?
NFTs solve the ownership issue, but they do not solve the potential problems under the concept of asset management in the metaverse. Unlike traditional DeFi, Metaverse users/businesses need to manage not only cryptocurrencies and NFT-associated photos or videos, but also all Metaverse assets mapping to real life. Most of these assets don't even have a value and users are unlikely to have immediate needs to trade these assets.
4. Will HMETA improve the current NFT technology?
The mission of HMETA is to improve MetAsset management which sometimes depends on NFT technology. But current NFT technology can also be improved through positive externalities coming along with our technology.
For example, due to the high cost of storing media on the chain, especially large files such as photos or videos, the media are usually stored off-chain.
If it's centralized storage, it would not be safe. The NFT will be worthless if the link (e.g. https://centralized-storage.com/art.jpg) is broken.
If it's decentralized storage, the disk space can disappear for some reasons (like IPFS garbage collector).
Therefore, HMETA stores an NFT asset with multiple chains and multiple storage mechanisms (Arweave, IPFS), and manage it with single ID.
5. Is HMETA Asset Management Platform a Web 3.0 DAPP?
Yes. More than that, we add a helper chain to improve the Web 3.0 DAPP,
Unlike traditional DAPP(such as Uniswap), we don't want to rely on public chains(such as Ethereum, BSC).
We need our own authentication, authorization, policy management for the asset management.
The helper chain is stateless for the high performance purpose. The storage is outside of the helper chain.
6. How to protect the privacy of assets in Metaverse?
For a NFT, it's a kind of public asset. All the records are on Ethereum chain(or other chains), and are trackable.
In Metaverse, users have public assets and private assets. Some assets can leak who you are in real life and your other asset details. For example, you use a NFT avatar(e.g. Ethereum) in the work meeting(e.g. Workroom VR meetings), and your co-worker can use your NFT avatar to find your Ethereum account and find out how many NFTs you owned.
In HMETA solution, users will decide the asset public/private type, and can authorize the Metaverse APPs(e.g. VR games) to read/write the data.
HMETA platform will never know the private data of Metaverse users because the private data is encrypted with users' keys. HMETA is a platform, and provide asset management functionalities, and Metaverse users own all the data.
The users don't need to worry about somebody sells the data to advertisers, like what Google, Facebook did. But if an advertiser pays the fee to a user, and such user authorizes this advertiser to access the data, that's acceptable.