The metaverse company delves into metaverse real estate while employing a play-to-earn model with UNDER.
To tap into the much-touted potential of real estate in the metaverse, Sensorium is unwrapping its latest endeavor into virtual reality. Sensorium, the brand behind the Sensorium Galaxy Metaverse, has codenamed this project UNDER. The announcement highlights the company’s positioning as it aims to treat virtual real estate as an asset class.
According to Alex Kim, the Chief Monetization Officer at Sensorium, the company has identified virtual real estate as an emerging niche and is looking to satisfy customer demand for land in the metaverse, going beyond the traditional approach towards real estate in the real world, which emphasizes on buying property and flipping it for a higher value.
To that end, Kim emphasizes Sensorium’s idea of doing things differently. The company looks to create more utility around virtual real estate by introducing land parcels that leverage fantastic game mechanics and a reliable play-to-earn model. UNDER represents Sensorium’s entry into Web3, and Kim insists that the mood around the company is largely positive as they hope to bring this project to life.
According to its roadmap, the UNDER virtual ecosystem will feature land parcels as NFTs. These non-fungible tokens will boast impressive game mechanics and an upgrade system with strong ties to existing play-to-earn gaming ecosystems. The gaming library, UNDER PLAY, will feature a vast catalog of play-to-earn titles, with regular refreshes to include new releases.
UNDER will take up a spot in the Sensorium Galaxy Metaverse as a planet, side by side with the PRISM world, with the latter billed to feature shows by David Guetta and Steve Aoki. In the Sensorium Galaxy, UNDER will be a hub for miners in the metaverse, who will come searching for SENSO Aura (SAr), a resource of great value that can be exchanged for fiat or used within the ecosystem.
One hundred thousand land parcels will be available for purchase on UNDER, with each plot housing games that would power mining activities. The ecosystem will also support renting, staking, and lending as the different pathways through which users can earn resources and generate revenue. Landowners will also be able to upgrade the games available on their plots through the UNDER PLAY library to make them attractive for renting.
The Sensorium ecosystem native coin, SENSO, will power the UNDER ecosystem as the currency of exchange for land sales, rentals, and player royalties. With Sensorium focused on helping gamers transition from Web2 gaming to Web3 and metaverse gaming built on a play-to-earn blockchain model, UNDER represents a step in the right direction for the company.
Since 2018, Sensorium has positioned itself as a Metaverse-building brand, leveraging innovative artificial intelligence and extended reality to create the Sensorium Galaxy, a Metaverse that delivers a wide range of user experiences. Users can play games, meditate, interact with other creators and virtual creations, and attend shows in the Sensorium Galaxy metaverse.
The development of UNDER represents the company’s willingness to lean towards more products targeting the crypto community. More on UNDER will be unveiled over the coming months as work continues toward building the platform.