Blockchain innovator Virtual Pangea AG has announced plans to build a multilayered, immersive ecosystem in the metaverse, a virtual universe that often replicates the real world.
Blockchain is a record-keeping technology designed to make it impossible to hack the system or forge the data stored on it, thereby making it secure and immutable, according to TechTarget.
Virtual Pangea’s mission focuses on community ownership, developing solutions and experiences that enrich both our physical and digital worlds, via the company’s ecosystem of products and services.
Virtual Pangea uses the power of emerging technologies and web3 concepts to connect 2D, 3D, and artificial reality in virtual space at the same time.
The company has outlined its goals in a lightpaper that states a new vision for products and services built for web3.
The paper details ongoing initiatives, such as the nexus technology, Block-0, multi-device compatibility approach and a focus on a contribute-and-earn model.
“We are excited to bring our visionary project to the world,” said Dani Chear, CEO of Virtual Pangea. “From the get-go, we had the vision of an ecosystem based on open economies and immersive environments that support and nurture communities.”
Built on four pillars, the Virtual Pangea ecosystem offers businesses, institutions and users a seamless metaverse experience.
Powered by contribute-and-earn mechanics, the company’s fundamentals are built around a gamified network of user-generated interactions, content and services that will create a comprehensive economy.
Contribute-and-earn mechanics powers the ecosystem’s economy that is built on the value-shared model. Aimed at nurturing strong, diverse, and collaborative communities, the Virtual Pange ecosystem allows participants to engage in an ever-expanding interactive cross-layer experience.
As a part of the value-shared model, the company has devised an XP (Experience Points) reward distribution system that measures all Pangeans’ contributions within the ecosystem. The interactions in the platform — such as playing a game, socializing, shopping or creating art — are measured in XP in a manner familiar to those playing video games.
Each month, the reward system weighs individual contributions against the overall value generated, and automatically redistributes a share of the Virtual Pangea utility tokens (VP Token) to each member, based on those contributions.
“Creating this inclusive and immersive ecosystem is also our way to contribute to technology research and development and further blockchain adoption,” said Chear.
The name “Pangaea or Pangea” is derived from the Greek. “Pan” meaning whole and “Gaea” land. In the modern world, uniting all elements.
Produced in association with MetaNews.
Edited by Fern Siegel and Matthew B. Hall
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