Diving in to Metaverse - Everdome, is it still early to get in?
Disclaimer: This is not a financial advice, rather my experience in hope to discover a tangible project that is worth backing for long term.
METAVERSE - it is becoming an inevitable future where people from around the world are "brought closer" through augmented reality, melting into fiction and reality, depending on how the institutions will take adopt it to their marketing advantage.
Perhaps we are finally going see some heavy guns coming in with their skills and wits to beguile innocent humans with their products, with the latest discovery of Everdome, which is supposedly to be powered by Unreal Engine
Being in a company that actually had my colleagues used applications powered by unreal engine for 3D rendering, I must say that if the project really adopts this rendering service, this is REAL top notch quality experience that normal people might actually appreciate much more than regular pixels.
Even though it didn't have super heavy backers, this company is actually ambitious enough to keep their domain last for 10 years, which I feel that this could be great commitment; or a really good scam.
I prefer the former though!
I am not really good at looking at tokenomics; but to see that the team only benefits 15% and the company keeps 10% sounds common, where the most will be supposedly allocated to long term staking (up to 52 weeks / 1 year) just to keep investors committed from "mine and dump" mentality.
Looking at the current pool that is being staked, with still having a 53% APY seems like there are a lot of committed backers who are willing to hold for at least a week.
Especially your staked rewards are pretty much locked up for another year before you can do anything about it.
This is practically a "lock and forget a year" thing; hoping after a year's time everdome will be pretty much be ready.
Especially for those who love P2E, this could really be an exciting time at the end of the year.
But is it the right time to invest now?
Despite the volatility from the last 1 week, there seemed to be a bit of support coming back up. Maybe it is after Altcoin Daily show's introduction, maybe not, but looking at potential 3D experience and maybe there are ways to learn to create our own 3D NFTs as part of the metaverse, this could be a really potentially huge project.
Then again, one has to know that any investment especially on early start-ups is HIGHLY RISKY. If one is thinking of shorting (buy and sell for quick profit) of this token I don't think this is the right project to invest on.
Am I investing?
I do have some additional not performing well tokens mined from Pancakeswap that is too little to be of any benefit. I might as well cut some losses and just place them into this potential project that could do well in the long run.
Let's see what happens after 33 weeks. I might attempt to withdraw once a week so that claimed $DOME tokens can go straight into vesting for another 12 months to lessen my time.
This can be a revelation, or this can can go down the drain. But investing a promising looking project at a bear market looks like the right way to give encouragement to the team and to self that things can still get better.
How about you?
Do you think that real tough guns like Unreal Engine used for Metaverse realistic rendering and experience a good project to back on?