STYLE Protocol, the cross-metaverse interoperability platform releases its Whitepaper
Berlin, Germany, Sept. 20, 2022 (GLOBE NEWSWIRE) -- STYLE Protocol announced today the launch of their whitepaper which outlines their vision, values, who they are, their token launch, the different participants of their ecosystem and how they will solve the existing challenges and problems with the NFT industry. STYLE Protocol’s vision is to become the go-to multiverse-backbone that helps maximize the utility and value of smart Digital Assets and Virtual Goods.
Online environments are growing. The number of active players and people with identities in virtual worlds is increasing steadily. The growth of decentralized and crypto-powered metaverses has unleashed a wave of open worlds. The availability of devices enabling hybrid experiences will further accelerate the use cases and therefore the adoption among the population. Lastly, the gaming industry is growing rapidly and the number of active players amongst the globe is increasing drastically. It is reasonable to assume that a fraction of “classic” gaming will evolve in the direction of decentralized participation models for their players and tokenized systems. Existing metaverses are marketed as open and accessible, yet different underlying technology stacks, blockchains, and 3D virtual engines prohibit the compatibility of these worlds.
STYLE Protocol aims to solve the underlying interoperability problem and connects worlds beyond their virtual borders to allow full usability for users.
The NFT technology is praised as the future of virtual identification and functions as a pillar technology for verifying assets. But some challenges remain:
Besides, only a few virtual worlds (games) utilize NFT technology to verify the individual ownership of Digital Assets or “virtual goods”. There is a deep fracture between game assets, metaverse assets, and purely 2D published NFT-Collections, here is why:
STYLE Protocol sees itself as the solution for all of these problems. They can be overcome with a decentralized 3D virtual asset utilization and sub licensing protocol, which by definition is what the STYLE Protocol ecosystem is
The main principles of the protocol are:
The protocol primarily aims to make Digital Assets available with advanced usability in an array of different environments, including games, virtual worlds and metaverses. To enable this, a new technical utility to the assets is introduced, which can best be described as sublicensing/derivatives.
Each world, game or metaverse that connects to th STYLE Protocol has different engineering principles and systems. They may run on different blockchains, have different play logics or run on different 3D engines.
To overcome these difficulties, the STYLE Protocol draws derivatives or sublicenses of assets and NFTs to have these applicable versions compatible with different environments on a blockchain and 3D virtualization level. Anyone looking to bring this utility to their assets can connect to the STYLE Protocol.
This means that the sublicensed versions and derivatives of the initially staked NFT are applicable and usable with different blockchains and thus the correlating games. Also - and this is the major point - they are turned into functional assets inside the metaverse or game and can additionally be rented out as such to other players in these virtual worlds.
The NFT or virtual asset becomes available in each world through three key pillars / participants of the ecosystem. The three pillars of the ecosystem are:
The participants mentioned above work together to make the ecosystem work harmoniously. However, they have created their own token $STYLE to incentivize different participants in the ecosystem and allow for continuous supply chain flow on a completely decentralized
Once the protocol flows are set up and the ecosystem is live for users and environments, a DAO decision-making webfront will be launched for token holders and elected decision makers to connect wallets and participate in the decision-making of the protocol development. Therefore, if one holds $STYLE token they will be able to vote in the creative, organizational and administrative processes of STYLE Protocol.
Tim Segewitz Marketing & Metaverses Style Protocol info (at) protocol.style