MetaBrands is a metaverse resource DAO that manages and governs resources and assets within the metaverse.
The General Manager of Altcoin Buzz, Anindya (Ani) Baidya, anchored the MetaBrands AMA session on our Telegram channel with Wilson Duarte, the Community Director of MetaBrands. Besides, the AMA took place on January 13th, 2022.
Below is a recap of the AMA session with Wilson Duarte to understand the DAO platform. The AMA was also in three segments: introduction, deep dive, and community questions and answers.
Segment 1: Introduction to MetaBrands
Q – Tell us about your company. How was the concept of MetaBrands created?
MetaBrands, a metaverse resource DAO, manages and governs resources and assets within the metaverse. It exists in order to grow and generate yield on a monthly basis while allowing instant exposure to top play2earn ecosystems.
One of the main things that makes MetaBrands stand out is that 75% of the yield generated from diverse contributions in many realms of the metaverse are shared through the monthly yield airdrops program to owners of the MAGE Relic NFTs.
A great feature about the project is that it can be seen as a friend in the space to help elevate other projects and ecosystems. This is done by contributing and participating on a much higher level than an individual. Our community will be exposed to that through MetaBrands Ventures (private allocations for Relic holders).
Q – Tell us a bit about your team. Where is the team based out of?
Currently, there are 12 DAO advisors from different places. They’re specialized in the fields of:
- Web3 and blockchain core development
- Decentralization and governance
- Branding and design
- Marketing and content creation
- Gaming and eSports
- Community growth
- Positive social influence.
The MetaBrands DAO can boast of over 30 years of experience in the realm of crypto and blockchain. Thus, providing a well-rounded knowledge and understanding to navigate the dynamic landscape.
Q – What about the leadership team, apart from the advisory group?
Everyone in MetaBrands is considered a DAO advisor, but there are certain people who contribute more to the day-to-day operations. As a DAO, the goal is that everyone collectedly adds value to the projects due to so many different skill sets.
Segment 2: Deep Dive
About the Metaverse
Q – What is your product model/architecture; can you explain the end-to-end flow?
MetaBrands participates in the play2earn NFT game economies by acquiring the NFT asset from the game like characters, skins, lands, etc. We use those assets to generate revenue throughout the whole month.
Then we take 75% of the profit generated and market buy out MAGE tokens to distribute to our Relic NFT owners.
Q – Coming to acquiring NFTs, what is your NFT acquisition process? How do you select a project? How do you select the NFTs, and how do you vote?
In general, MetaBrands acquires the NFTs necessary to take part and interact inside that particular metaverse or p2e project. A great example is Axies Infinities where we have already acquired AXS and put it to work inside the Axies economy model.
The DAO, with the Relic NFT and MAGE token holders, all vote to decide which NFT to acquire. We’re using snapshot portal where people can vote and add proposals.
Q – So I hold Mage tokens. Can I vote for the next NFTs to be purchased? What are the parameters on which an NFT is shortlisted? As you have three entities (DAO, Relict NFT, and token holders) voting, what will be the weightage distribution and how is the calculation?
DAO participators are able to vote and create proposals around three fields: Operating Protocol (Core), Contribution Strategies (Strategy), and Resource Deployment (Resource).
One MAGE token is equal to one vote, but Relic holders have a higher weight due to the level of participation and contribution in the DAO.
Q – How do you generate revenue? Do you rent out these assets to a guild? Or do you work with scholars directly?
Actually, we can do both due to the different partnerships. For example, with the Axies Infinity scholarship, we’re interacting directly with one partner and discussing the operations of new games where we can handle the asset and scholars directly. All the while giving not only the native token from the game, but also a bit of MAGE token for greater incentives for players.
Q – What is the value of the metaverse resource market currently? How much market share are you looking to capture?
The metaverse market is still in its very early stages. So, MetaBrands seeks to contribute to the metaverse through elevating other brands, projects, and games first. A distinct method that MetaBrands looks to expand upon is limitless use cases and interoperability through the MAGE Relic NFTs as a “multi-pass” to the metaverse. For now, we see MataBrands contributing to this market by collaborating with other projects rather than competing or trying to capture a big market share.
Q – Coming to the relics, I can see there are three types of relics. Tell us more. Are they limited edition NFTs?
The MAGE Relic NFTs require MAGE tokens to be sacrificed or burned in order to mint the NFT. There are three different MAGE Relics and MAGE Ranks: Master, Oracle, and Archmage.
Each relic has its own benefits, and they are also upgradable to the highest tier, Archmage. Simply by holding the NFT in your wallet, you are eligible for the MetaBrands Ventures (private allocation in new projects), monthly yield airdrops, DAO permissions, and more. One thing to note is that MAGE Relics are stackable. This means that one wallet may hold as many relics as desired, as well as getting all of the complimentary benefits.
Our NFT minting page is here.
Q – There have been questions on why you started on ETH? We know that you are now building bridges. Can you tell us more?
Mainly the security standpoint, but MetaBrands just bridged to the Avalanche ecosystem. MetaBrands is adaptable and does not limit itself to one particular blockchain as the metaverse expands way beyond just one blockchain, platform, or game.
Segment 3: Community Questions and Answers
From this segment, the five best questions shared $200 in $BUSD. Some of these questions are as follows:
Q. Twitter – Could you tell us what will be the utility that both MAGE tokens and NFT MAGE Relics will have? Will it really be required to have a certain amount of both in order to participate in the game?
MAGE is the governance and utility token in the MetaBrands ecosystem. One key use case of the MAGE token is NFT minting as the MAGE token is sacrificed or burned in order to create the MAGE Relic NFTs. The MAGE token is also used alongside the MAGE Relics to vote on DAO proposals — one token is equivalent to one vote. Furthermore, the MAGE token can also be used for payments, liquidity mining, whitelisting, and discounts (when used to purchase assets directly from MetaBrand’s Treasury).
Just note that only the Relic NFT makes someone eligible for the monthly airdrops. You still can participate in the MetaBrands Ventures with some MAGE tokens. However, Relic holders get a higher allocation.
Q. Twitter – Something that caught my attention about MetaBrands is its Monthly Yield Airdrops Program. So, can you explain how this program works? What was your goal in developing a program with these features? How can users participate in this interesting program?
This program relies on the participation and contributions made to different play2earn models, ecosystems, and platforms. The program shares back the yield generated as a result with the MAGE Relic NFT owners by first purchasing MAGE tokens from the public markets. Firstly, the program splits 75% of this yield among the 3 MAGE Ranks (Master, Oracle, and Archmage). Secondly, the program adds 20% to the treasury for scaling. Finally, the program permanently burns the remaining 5%. Simply owning a single MAGE Relic qualifies you for this program.
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