Ready player one: OASIS: The Legacy Battle for the Virtual Reality World

What is Ready player one

Friends, imagine if the virtual world "OASIS" from the movie Ready Player One could really become reality—what would that look like? The project "Ready player one" is actually trying to bring this dream to life, and its more accurate name is "The Readyverse".

Simply put, The Readyverse is an ambitious "metaverse" project. You can think of the metaverse as a vast, immersive digital world where you can have your own virtual avatar, explore various virtual spaces, interact with friends, and even own digital items. This project is created by "Readyverse Studios", backed by Ernest Cline (author of the Ready Player One novel), film producer Dan Farah, a metaverse tech company called Futureverse, and the renowned Warner Bros. Discovery. Their goal is to use blockchain technology to turn the colorful, IP-rich (intellectual property, like movie characters, game worlds, etc.) virtual world from the movie into an open, interoperable reality.

In this digital world, you can:

• Explore and interact: Just like in the movie, travel through different virtual scenes and interact with characters and content from various IPs.
• Own digital assets: The virtual items you acquire inside—like skins and equipment—truly belong to you, not just dictated by the game company.
• Participate in experiences: Enjoy various games, social activities, and even create your own content.

Project Vision and Value Proposition

The vision of The Readyverse, just like the "OASIS" described in the Ready Player One novel, is to build a truly "open metaverse". Imagine earning an item in one game and being able to use it in another, or freely trading it in a digital marketplace—that's the charm of "interoperability".

The core problem they want to solve is that most virtual worlds today are "walled gardens", completely controlled by a single company, with your data and assets restricted to that platform. The Readyverse emphasizes "Provable Digital Ownership", "Community-owned Infrastructure", "Decentralization", "Security", and "Interoperability". These may sound technical, but you can understand them as: your stuff truly belongs to you, the world is managed collectively, not by a single entity, and your digital identity and assets can move freely across different virtual spaces.

Compared to similar projects, The Readyverse stands out for its strong IP background—Ready Player One itself represents the ultimate imagination of the metaverse. At the same time, it has the backing of giants like Warner Bros. Discovery, and is built on a blockchain specifically designed for the metaverse and gaming—"The Root Network". It's like a custom-built highway and infrastructure for the digital world of the future.

Technical Features

The grand metaverse of The Readyverse is built on the foundation and framework of a blockchain called "The Root Network". You can think of it as a highway system designed specifically for digital worlds and games.

Blockchain Foundation

• Layer 1 Blockchain: The Root Network is a "Layer 1" blockchain, meaning it's an independent, foundational blockchain network, like Ethereum or Bitcoin, not built on top of another blockchain.
• Optimized for Metaverse and Gaming: Its design is intended to support metaverse applications, games, and immersive experiences, giving it special advantages in handling large volumes of transactions and complex interactions.
• Consensus Mechanism: It uses the "Proof-of-Stake" (PoS) mechanism. Simply put, PoS is like everyone maintaining network security and validating transactions by "staking" deposits, rather than competing for block rewards through massive computation as in "Proof-of-Work" (PoW), making it more energy-efficient.

Multi-token Economy

• Dual Tokens: The Root Network has a unique design, using two main tokens: its own native token $ROOT, used for "Security and Governance" of the network (think of it as shares and voting rights in this digital world); and Ripple's XRP token, used for paying transaction fees (Gas Fees), like tolls.
• "Any Token for Gas": More interestingly, it allows users to pay transaction fees with multiple tokens, not just XRP. This greatly lowers the entry barrier for new users, as they don't need to buy a specific token to start using the network.

Interoperability and AI Support

• Cross-chain Connectivity: The Root Network natively supports "Cross-chain Asset Linking", meaning your digital assets on other blockchains (like Ethereum or XRPL) can be more easily brought into The Readyverse. In the future, it plans to integrate the "IBC Protocol" for cross-chain communication, further enhancing interoperability between blockchains.
• Core Technology Components: To build a complete metaverse, The Root Network includes a series of key technologies, such as "FuturePass" (a digital identity protocol, like your passport in the metaverse), generative AI protocols (for content creation), communication protocols, and character creation technologies.
• EVM Compatibility: For developers, it's also compatible with the "Ethereum Virtual Machine" (EVM), meaning programmers familiar with Ethereum development can more easily build applications on The Root Network.

Tokenomics

Let's talk about the "currency" and "economic rules" of this digital world. The core blockchain of The Readyverse—The Root Network—has its native token $ROOT.

Token Basic Information

• Token Symbol: $ROOT
• Issuing Chain: The Root Network (its own Layer 1 blockchain)
• Total Supply: The total supply of $ROOT tokens is 12 billion.

Token Utility ($ROOT)

The $ROOT token plays multiple important roles in this ecosystem, like a country's currency, used for spending, investing, and participating in governance:

• Governance: $ROOT holders can participate in "Decentralized Governance" of the network, meaning they can propose and vote on important decisions like protocol upgrades and fund allocation, jointly deciding the future direction of this digital world.
• Staking and Validation: As mentioned with the "Proof-of-Stake" mechanism, if you want to become a network "Validator" to maintain security, or delegate to validators, you need to stake $ROOT tokens. In return, you earn network transaction fees and block rewards.
• Ecosystem Incentives: $ROOT is also used to incentivize users and developers to participate in ecosystem building. For example, by completing ecosystem challenges or based on your "FutureScore" (a points system measuring your activity and contribution in the metaverse), you can earn $ROOT rewards.
• Data Marketplace: $ROOT can be used to incentivize individuals and communities to share and control data in the data marketplace.
• Transaction Fees: Although XRP is the main transaction fee token, $ROOT can also be used to pay Gas fees. Developers can even pay these fees on behalf of users for a smoother experience.

Token Allocation and Unlocking ($ROOT)

The allocation of $ROOT tokens is designed to support long-term network development and community participation, mainly divided into the following parts:

• Community Rewards: 20%
• Metaverse Incentives: 20%
• Ecosystem Development Fund: 10%
• Block Reward Guidance: 10%
• CENNZ Burn Mint: 10% (1 ROOT for every 1 CENNZ burned)
• Team: 15% (usually with a lock-up period and linear unlocking, e.g., locked for 100 weeks, then unlocked linearly over 100 weeks)
• Liquidity Providers: 5%
• DAO Treasury: 5%
• Advisors: 5% (similar to team tokens, with lock-up and unlocking mechanisms)

About RP1 Token: Note that there is indeed a token called "Ready player one" with the symbol "RP1" on CoinMarketCap. However, detailed tokenomics for this specific RP1 token have not been disclosed in official materials from The Readyverse and The Root Network. Therefore, our focus is mainly on the $ROOT token as the core of the underlying blockchain.

Team, Governance, and Funding

The success of a project depends on the people and the money behind it. The Readyverse project has a strong team and financial backing.

Core Team and Partners

"Readyverse Studios" is the main driver of this project, a joint venture composed of multiple parties:

• Futureverse: A company focused on metaverse and AI technology, and the core developer of The Root Network blockchain. Its co-founders include Shara Senderoff and Aaron McDonald, with Aaron McDonald as CEO.
• Ernest Cline: Author of the Ready Player One novel, whose vision provides the soul for this metaverse project.
• Dan Farah: Producer of the Ready Player One movie, bringing film production experience to the project.
• Warner Bros. Discovery: This entertainment giant brings the IP license for Ready Player One and the possibility of more well-known IPs in the future.

Funding Support

Futureverse raised $54 million in Series A funding, led by 10T Holdings, with Ripple Labs also participating. This provides a solid financial foundation for development and promotion.

Governance Mechanism

The Root Network plans to gradually implement "decentralized governance". This means that in the future, $ROOT token holders will be able to participate in major network decisions, such as voting on protocol upgrades and fund allocation. This model aims to give the community more say in shaping the project's direction.

Roadmap

A project's development blueprint lets us see its past, present, and future.

Key Historical Milestones

• Early Integration: Futureverse integrated The Root Network with XRPL (XRP Ledger) early on and supported the XLS-20 NFT standard, laying the foundation for cross-chain NFTs.
• 2024: The Readyverse plans to officially launch in 2024.

Future Key Plans (The Root Network)

The Root Network's future plans focus on enhancing blockchain functionality and expanding the ecosystem:

• Key Initiatives for 2025:
  • Decentralized Governance: Gradually transfer governance rights to the community, allowing $ROOT holders to participate in decision-making.
  • IBC Protocol Integration: Plan to integrate the "IBC Protocol" for cross-chain communication, enabling freer flow of assets and data between blockchains.
  • TRN Labs Ecosystem Expansion: TRN Labs will act as an independent builder collective, incubating projects, providing technical support, and encouraging more metaverse applications and tools to be built on The Root Network through grants and other means.
  • Substrate Upgrade: Upgrade to the latest Substrate framework to improve scalability, security, and performance.
  • Gas Fee Optimization: Continuously optimize EVM transaction gas fees to bring them closer to external transaction costs.
• Ongoing Development: The long-term goal is to focus on cross-chain connectivity, decentralization, and the growth of an open gaming ecosystem.

Common Risk Reminders

Any emerging technology and project comes with risks, and The Readyverse is no exception. When learning about this project, we need to stay objective and cautious.

• Technical and Security Risks:
  • Metaverse Complexity: Building a truly interoperable, immersive metaverse is a huge technical challenge, requiring handling massive data and real-time interactions, which may encounter performance bottlenecks and technical difficulties.
  • Blockchain Security: Any blockchain project faces risks like smart contract vulnerabilities and network attacks. Although The Root Network uses PoS, potential security issues still need to be watched.
  • AI Technology Risks: The AI content generation and other technologies involved are still in early development and may have unpredictable risks or ethical issues.
• Economic Risks:
  • Crypto Asset Volatility: The price of $ROOT tokens is affected by market supply and demand, macroeconomics, regulatory policies, and other factors, and may fluctuate sharply.
  • Multi-token Economic Model: While the multi-token design aims to optimize user experience, its complexity may also bring uncertainty to the economic model, requiring ongoing balancing and adjustment.
  • User Adoption Rate: Despite strong IP backing, the popularization and mass adoption of Web3 metaverse still takes time, and whether the project can attract and retain enough users is uncertain.
• Compliance and Operational Risks:
  • Regulatory Uncertainty: Global policies on cryptocurrency, NFT, and the metaverse are still evolving, and future policy changes may impact project operations.
  • IP Management Challenges: Integrating and managing multiple well-known IPs in a decentralized environment may face complex legal and business challenges.
  • Market Competition: The metaverse field is highly competitive, with many large tech companies and blockchain projects trying to build their own metaverse. The Readyverse needs continuous innovation to stand out.

Remember, the above risks are not exhaustive, and investing in any crypto project carries the possibility of capital loss. Always conduct thorough personal research before making any decisions.

Verification Checklist

If you want to learn more about this project, here are some channels you can check yourself:

• The Root Network Official Website: Visit therootnetwork.com to find its official whitepaper and developer documentation for the most detailed technical and economic models.
• The Readyverse Official Website: Visit readyverse.com for the latest metaverse updates and experiences.
• Futureverse Official Website: Visit futureverse.com to learn about the tech company and ecosystem behind it.
• Block Explorer: Look up The Root Network's block explorer to view $ROOT token contract address, transaction records, holder distribution, and other on-chain data.
• GitHub Activity: Follow Futureverse or The Root Network's code repositories on GitHub to track project development progress and community contributions.
• Social Media and Community: Follow the project's official Twitter (X), Discord, and other social media platforms for the latest announcements and to interact with community members.

Project Summary

Overall, the "Ready player one" project, also known as "The Readyverse", is a very compelling metaverse attempt. It cleverly leverages the deeply popular Ready Player One IP and has the backing of giants like Warner Bros. Discovery, bringing huge attention and a potential user base.

The project is built on "The Root Network", a blockchain specifically designed for the metaverse and gaming, showing that its technical choices consider the special needs of the digital world of the future, such as its unique "multi-token economy" and "any token for gas" mechanism, aimed at lowering user barriers and improving experience smoothness. At the same time, the project emphasizes the vision of an "open metaverse", striving for true digital asset ownership and interoperability, which aligns closely with the core spirit of Web3.

However, realizing the metaverse is a long-term and complex undertaking, and The Readyverse faces multiple risks such as technical challenges, user adoption, market competition, and regulatory uncertainty. Despite strong team and financial support, whether it can ultimately build a prosperous, sustainable open metaverse will require time and market validation.

Remember, all the above information is for reference only and does not constitute investment advice. The cryptocurrency market is highly volatile and risky, so be sure to conduct thorough personal research (DYOR - Do Your Own Research) and make decisions carefully according to your own situation.