Solana’s answer to the Metaverse: SovanaDAO
Preface
The Solana NFT space has always been a close-knitted community (albeit with a few disagreements due to differing views), where active members on Crypto Twitter (CT) form friendships and connections with the like-minded. After all, the space has grown from bare grounds to a US$1 billion market in the span of four months, with members supporting and building the community from the start till now.
On CT, individuals from different NFT projects and DAOs do discuss current affairs and issues regarding the community, such as the royalty fiasco between the Geckos, Piggies, and Meerkats back in Oct 2021. However, most of these interactions are short-lived and brief, due to the nature of Twitter, and aside from that, individuals usually hang out in their respective project discord channels, therefore limiting interactions between projects.
The Solution
Enter SovanaDAO: A solution built to visualise the Solana NFT CT space, and arguably Solana’s answer to the metaverse. Sovana aims to bring back the popularity of web-based MMORPGs, such as Club Penguin & Runescape with Web3.0 elements.
Users are able to enter Sovana as their NFT avatar, providing an identity that users can resonate with. This way, users can rep their favorite project while interacting in the metaverse. Sovana aims to value-add to existing communities through this functionality.
Functionalities of Sovana include a metaverse city with all the familiar Web3.0 elements such as dApps integration, NFT minting and trading, and connectivity with other Metaverse/GameFi projects. Users are able to interact with each other through proximity-based voice and video chat, meeting rooms, and community events such as activities and games.
Remember all the Runescape gold you had but had no value outside the game? Sovana changes that as a decentralised product, enabling trading of their token on Decentralised Exchanges such as Dexlab, which gives it real-world value. Sovana’s in-game currency is $SVA, which can be used for a multitude of interactions in-game, such as cosmetics or events.
You can even be a part of Sovana’s development by being a holder of their Sovanian Egg NFT, which provides entry to their DAO and opens access to Sovana’s governance, where individuals can create proposals to mold the future of their metaverse. These eggs can be seen as an asset that increases in value with the growth of SovanaDAO.
Bullish Thesis
Sovana could be compared to Portals or Enviro as a metaverse product, but in my opinion, Sovana is an upgrade to both projects, value-adding to their product and creating the first metaverse city where the Solana NFT space can interact and hang out in.
For example, Portals focuses on rooms owned by individuals or organisations, where they are able to create and design their own space: A place to meet, work, interact. Sovana focuses on creating a WORLD where the Solana NFT community can not only do the above but also engage in in-game activities and events, similar to how Club Penguin has sled races and arcades. This would be the first project to connect the communities from many Solana NFT projects together, without compromising on their identity as an Ape, Thug or Monke, etc.
Overall, I feel Sovana is an ambitious project that can have a massive upside if development plays out nicely. The initial onboarding of users would be the most challenging hurdle for the project, but if it’s done well, I could see this project as a staple in the Solana NFT space. This will definitely be a project I’ll keep tabs on and something that everyone in the Solana NFT community should take a look at.
Disclaimer
This is not a paid advertisement and this is written based on my own research and analysis. This also shouldn’t be taken as financial advice and it’s recommended for everyone to check out their whitepaper and demo on their website.
Project Info
Their egg mint would be happening on 1st Feb, at 1 SOL each, on Magic Eden’s launchpad. There are 3 phases based on whether you’re an OG, WL, or Public member. More info in their Discord.
Website: https://www.sovana.world/
Twitter: https://twitter.com/sovanadao
Discord: https://discord.com/invite/sovana
Game Demo: http://sovana.city/
If you made it this far, thanks for taking the time to read my article. I’m working on more of such research articles for DeFi and NFT projects, feel free to let me know if you have any suggestions for future articles or feedback on Twitter.
Till then, the world is your oyster.
