Category: DeFi

What is the Metaverse?

Whatever it is – it seems to be where Telos and XAYA are headed!


At Goldsmith Money, we talk blockchain based virtual gaming worlds and economies ad nauseam.

Yes – virtual reality platforms are the future of economic marketplaces!
Yes – these platforms will be built on trustless and decentralised blockchains!
Yes – these new virtual worlds will open up NEW and COUNTLESS opportunities for all!

It seems that we are not the only ones saying it.

Today we came across a terrific essay today by Piers Kicks, titled ‘Into the Void: Where Crypto Meets The Metaverse‘.

Piers introduces what is a new concept to us called ‘The Metaverse’.

The Metaverse: a persistent, live digital universe that affords individuals a sense of agency, social presence, and shared spatial awareness, along with the ability to participate in an extensive virtual economy with profound societal impact.

The essay had actually been tweeted out by Tim Sweeny, CEO of Epic Games (think Fortnite). Seeing the BIG game developers were taking it seriously – so should we.

In keeping the concept simple for us – we think of The Metaverse as the ‘OASIS’ in Earnest Cline’s, Ready Player One. However, we accept that there are a myriad of forms a non-fictional Metaverse might take; and, a good deal of time and development to get there.

According to Piers, FIVE converging verticals would drive the emergence of The Metaverse

  • Culture
  • Content
  • Mediums
  • Standards and Protocols
  • Infrastructure.


The foundation for the fusion of the FIVE verticals however would be blockchain – or more specifically, cryptocurrency and non-fungible tokens (NFTs). Piers writes:

I believe that within NFTs and crypto lie the most elegant solutions to the problems of digital scarcity and uniqueness, digital property rights, large-scale coordination across virtual environments, and robust privacy-focused systems that cannot be exploited for the enrichment of few at the expense of many. Without the assumption of a robust economic membrane, the entire concept of the Metaverse quickly collapses. 


Many of you reading this blog post will already have an understanding of cryptocurrency and NFTs. More than likely you are already part of the Telos or XAYA communities, which we work closely with.

For the XAYA team, The Metaverse is their vision. A universal gaming hub, all built upon a traditional Bitcoin, proof of work, blockchain architecture.

XAYA has the infrastructure in place to ensure secure game asset ownership and facilitate safe trade and provably fair gaming. It is also scalable enough to build MASSIVE MULTIPLAYER VIRTUAL REALITIES.

In the case of Telos – fast, oh so fast. Scalable, smart contract functionality – this blockchain can do anything. From facilitating commercial, administrative and governance functions, it provides for a plethora of virtual currencies, NFTs, games and much, much more.

Both blockchains are already making ground in the FIVE verticals and both have stable and talented teams behind them. Either (or both) of these ‘hidden gems’ could easily be a catalyst in the creation of the inevitable Metaverse.

For you budding Entrepreneurs looking to build your fortunes in this new world, you should take a close look at these two blockchain technologies – along with others. According to Piers, you should familiarise yourself with:

  • Bitcoin and Ethereum; Cryptoeconomics.
  • DAOs, DeFi, Non-fungible Tokens, Social Tokens, Cryptomedia.
  • New business models being unlocked by decentralized networks.
  • New governance models being unlocked by decentralized networks.
  • Intersections of crypto with emerging trends such as direct-to-avatar.

In conclusion Piers writes:

The increased financialization of virtual worlds is upon as the technologies to connect thousands of isolated virtual economies are unleashed.

Find the link to the full essay here.

Enjoy the week ahead! Of course if you are a silver stacker – we are sure you will.

GOLDSMITH.

Telos T-Bonds

Increase Liquidity with Innovative DeFi Solutions


For any enterprise, liquidity is the key to success. Remain cashed up and the doors will stay open. Let the cash run out and so too will the lights.

The Telos community believes that exchange listings are the key to liquidity and the financial success of their public blockchain. Unfortunately, the community did not have the funds necessary to meet the expensive exchange listing fees. Undeterred, this determined and decentralised community set about to make the listings happen.

They first formulated a plan to raise funds. It would need to be innovative and it would need to be appealing to investors.

Next they would build the infrastructure required to make to make the initial fundraising a success and build upon this thereafter.

And they did it. They created their own DeFi fundraising solution. It would take the form of non-fungible tokens (NFT) and they would be called…

T-Bonds



T-Bond NFTs would represent a future entitlement to TLOS tokens, purchased at a discount to the current market price. Quite simple really. However, for a decentralised community to devise and execute such a plan – pure genius!

In order to bring T-Bonds to life, the determined developers of the Telos community would need to build a Bitcoin Peg Token, a secure NFT blockchain core and an entire NFT marketplace. Wallet infrastructure also needed to be updated to accommodate the bonds and then the entire system needed to be audited. In conjunction, designers and marketers would need to do their part to ensure investors would be aware of the opportunity when it arose.

The broader cryptocurrency market had not been blind to the fervor at Telos. In fact, in the 8 weeks leading up to the T-bond sale – the TLOS token price would rise 400%.

Well the day arrived – January 25. And the T-Bonds would sell like hotcakes!

All denominations and all lock-up periods – SOLD, SOLD, SOLD!

It was noted that the big discount, 2 year lockups bonds were one of the most popular NFTs. A signal that the market believes that Telos is here for the long term.

In the first 36 hours of the sale, the community is said to have raised over 3 BTC, more than $US100,000 – a fantastic result! However, this was just the first step toward sustained liquidy.

The BTC from the T-Bonds sale will be used to arrange an Uniswap listing at Ethereum. Telos will look to tap into this $150 Billion Ethereum ERC-20 marketplace for future T-Bond issuances.

In addition, Telos will soon launch its Ethereum Virtual Machine (EVM), enabling the Telos blockchain to do everything Ethereum can do – only much faster and at a much lower cost. EVM would provide Telos with addition income as dApp developers seek to reduce costs within the Ethereum network.

Remaining funds from the T-Bond sales would be used to list Telos on other smaller cryptocurrency exchanges. And future sales – well these will be directed towards listings on large exchanges.


Telos has now become an exciting ecosystem of opportunity and development. With more and more decentralized applications joining weekly, along with new investors, speculators and developers.

The community recently published a roadmap for some of their innovative new technical releases, which includes:

  • dStor – decentralised cloud based document storage. (Q1 – 2021)
  • Telos Private – a bridge between exchanges and Telos, for people who prefer to keep their business and personal matters private. (Q3 – 2021)
  • Telos ID – a secure, blockchain based, personal identification system to assist businesses meet their KYC needs etc. (Q3 – 2021)
  • Telos Location (Q3 – 2021) – allows proof-of-location using the Telos blockchain, while paying users to do “location mining” for the system.

Link to the Telos Roadmap here.

Congratulations to all involved in Telos, on the hugely successful T-Bond sale. The future is indeed looking bright for this community of innovative and thrifty blockchain pioneers. Be sure to watch them closely.

Finally and it would be remiss of me not to mention one of the most exciting Telos developments – which is, without a doubt, our very own Daily Telos, Blockchain Diaries. And there has never been a better time to start recording your legacy, forever enshrined within the blockchain, right here at Goldsmith Money – Daily Telos.

GOLDSMITH.


Please note that the author does hold tokens in Telos and did not participate in the T-Bond sale.