1.2 | Why Meta-Assets
Meta-assets are just as valuable as physical assets, and soon they will become even more valuable. Value is determined by what others are willing to pay for certain products/services, and people will soon realize that virtual products can be carried and accessed anywhere, do not suffer from wear and tear, over time, and can be used 24/7, as opposed to physical products which have limitations due to weight, size, wear-and-tear, functionality, and numerosity.
Last year Gucci sold a virtual version of their Dionysus Bag on Roblox for $4,115 (350,000 Robux), while the actual physical bag retails for only $3,400. Interestingly this virtual bag only holds monetary value inside of the Roblox domain, so one can imagine the exponentially higher value this could have once the metaverse presents an open source, interoperability across platforms like ILLUSORR is aiming for.
Meta-assets are crucial to the success of the metaverse. A lot of content will need to be created as the metaverse grows and enters every household, and in order to make sure it is scaling the right way, these meta-assets need to be structured properly. Currently NFTs are the most popular form of meta-assets but fungible assets will soon gain as much (or more) popularity because brands will realize the sheer scalability and potential. Due to this timeline and the ILLUSORR roadmap, we are focusing on creating NFTs and fungible assets for now, and once we launch the ILLUSORR Platform (Alpha Release, Beta Release, etc) we will begin to roll out the other types of assets.