Introduction to Web3 X

WEB3 X ($WEB3X) is the next evolutionary Decentralized Finance (DeFi) cryptocurrency creates a Farm-to-Earn (F2E) metaverse that is inspired by Kimbal Musk to radically transform the way we conduct farming. A F2E metaverse that comes along with a NFT marketplace and a DAO in order to differentiate and to dominate the DeFi space. WEB3 X would design an agricultural token ($WEB3X) that enables agricultural business owners around that world to own virtual vertical farms, farm different varieties of crops, including greens, vegetables and strawberries.

Elon Musk’s younger brother, Kimbal Musk, who was named “Global Social Entrepreneur” of the year by the World Economic Forum in 2017, started Square Roots, an indoor urban farming company based in Brooklyn, in 2016. Square Roots’ mission is to bring fresh, local food to cities around the world by empowering younger generations to participate in urban farming.

Plant-based foods are all the rage right now, and vertical farms are capitalizing on the trend. Vertical farming is an indoor farming method in which crops are grown in stacked layers, often without soil. The practice is becoming more popular and important as urban populations grow dramatically and available farmland decreases. While vertical farming isn’t a new concept, these eco-friendly indoor farms are now rapidly expanding.

In addition to WEB3 X’ Farm-to-Earn mechanism, WEB3 X also aims to create a platform for NFT developers and artists. Think Rarity and OpenSea. Tools that can list, mint, rank top projects by categories, volume, owner count, and most crucially, rate the individual NFTs in a project by rarity, are put into a single platform to enable potential NFTs buyers to either buy the floor NFTs or the alphas. In order to serve all demographics of NFT collectors, Ethereum, the primary chain, as well as Solana and Polygon chain, will be made available as part of the secondary NFT market.

Why Web3 X?

The World Wide Web’s dependable, resilient infrastructure was made possible by centralization, which also assisted in bringing billions of people online. At the same time, a small group of centralized organizations control a sizable portion of the World Wide Web and make unilateral decisions over what should and shouldn’t be permitted.

The solution to this problem is Web3. The Web3, which supports decentralization and is being produced, operated, and owned by its users, is not a Web that is monopolized by big tech companies. Web3 gives people the ability to make decisions rather than companies.

Although it’s difficult to give a precise definition of what Web3 is, a few fundamental ideas serve as its guiding principles.

Web3 is decentralized: Ownership is shared between its creators and users, as opposed to major portions of the internet being managed and owned by centralized entities.

  1. Web3 is permissionless: Anyone can engage in Web3 on an equal basis; nobody is ever excluded.
  2. Web3 includes native payments; rather than utilizing the antiquated infrastructure of banks and payment processors, it employs cryptocurrencies for online purchases and payments.
  3. Web3 is trustless; rather than relying on dependable outside parties, it runs on incentives and economic principles.

It is well-known that Elon Musk is establishing “X Holdings,” which will incorporate Tesla, Space X, Neuralink, and the Boring Company, in an effort to combine the strengths of all the various businesses. Furthermore, Vitalik Buterin (core developer of Ethereum) has spoken at length with regards to $X in relation to the conditional burning of Ethereum protocol. WEB3X would like to take advantage of the current media coverage that is trending in Twitter for $X.

WEB3 X aims to offer the crypto community several services: a Farm-to-Earn virtual farmland, an NFT marketplace and a DAO. A vision similar to Kimbal Musk to radically improve the food supply chain efficiency, nutrition value, making indoor growing cheaper and more reliable, WEB3 X is poised to gain huge market share in virtual farming.

Farm-to-Earn (F2E) Mechanism

The Farm-to-Earn (F2E) business model is the most recent innovation in the games industry, and we think it has a lot to offer both external stakeholders and, most importantly, the players themselves. It’s a business strategy that supports the idea of a free market and rewards all players who provide value to the game’s ecosystem with money.

The key elements of the play-to-earn business model are giving players ownership over in-game assets and enabling them to raise its value through active game play. Players add value for other players and the creators by participating in the in-game economy. They are then rewarded with in-game resources.

Cryptocurrencies and in-game items that have been tokenized on the blockchain are only two examples of these digital assets. Because of this, blockchain games and the Farm-to-Earn business model work quite well together.

NFT Mechanism

NFT has and will become increasingly popular as seen in the widespread adoption by OpenSea, Meta and Bored Ape Yachts. WEB3 X uses NFTs in WEB3 X Farm because NFT would provide players with considerably more value than what traditional games would provide.

The genuine ownership rights that users are granted over the in-game items they purchase are what assign the in-game farms its worth. Each NFT character in WEB3 X Farm has specific benefits, rarities, and distinctive qualities. These elements can be traded on the cryptocurrency market and NFT markets and are regarded as valuable digital assets.

These digital in-game products, made possible by blockchain technology, have actual value. Beyond monetary rewards, they let users to engage more emotionally while playing the game, discovering the delights of stunning WEB3 X Farm, interacting with other players, and caring for virtual characters. By offering new advantages in terms of game economy; user experience that will completely change for players, WEB3 X Farm is elevating the gaming and blockchain industries to a whole new level.

WEB3 X Farm Ecosystem

One of the most common ways for people to invest will be in real estate. Currently, virtual land plots are being sold at unbelievable prices in Decentraland; there are more record high prices seen in the sales of virtual lands. WEB3 X Farm envisions to enable a business owner to purchase a Farm which may later be expanded to grow different varieties of crops.

Furthermore, the scarcity of virtual Farms would greatly increases the value of these digital assets. In a game or metaverse, only a certain number of Farms are available for purchase. Finally, Farm ownership through NFT expedites users’ rights, enables them to take control of their digital assets, and enables them to make a claim in anything they are interested in.

WEB3 X encourage players to consider lands as valuable assets or long-term investments for themselves. Knowing what the players do in the WEB3 X Farm universe, the types of organizations that form and the creation and evolution of those Farms is a fascinating experience for the Web3 X Team. Due to their rarity and limitless applications, WEB3 X Farms are extremely valuable.

As more people join the game, the Farms becomes scarcer than ever. The first movers who gained access to the very first WEB3 X Farms will have an opportunity to trade their Farm, become a landlord by collecting a yield on their Farm and be the only person to own that token on the blockchain. The developers of WEB3 X have no ownership in Farms once Farm have been sold to players.

WEB3 X Game Play

To kick start the game, the virtual farm owner need to create an in-game Avatar and needs to connect to his / her MetaMask wallet containing Ethereum for the set-up of Avatar and also the purchase of $WEB3X tokens to swap WEB3 X Farms.

To purchase the WEB3 X Farms, players would need to go to WEB3 X Farm marketplace. Such Farms have limited supply and are created as NFT. Alternatively, such Farm may be rented out to new virtual Farmers for yield and you would receive $WEB3X in exchange. As the Farm are rented via a Smart Contract, the person who rented the Farm would not be able to put the Farm up for sale. Upon expiration of the rental period, the Farm would return to the rightful owner.

In-Game Assets

There are several assets native to WEB3 X ecosystem and it is as per the following:-

1) Farms

2) Avatars

3) Seeds

4) Crops

Farms and Avatars are the building blocks of WEB3 X Farms, akin to the land and in-game character of the virtual reality. The value of the Farm is determined by the rarity of Crops that the Farmers produced which in turned are derived by the quality of Seeds that are planted during the various seasons.

Different varieties of Crops harvest well depending on the seasonality and irrigation level. There are four seasons in WEB3 X ecosystem : 1) Spring, 2) Summer, 3) Autumn and 4) Winter and each season would affect the type of Crops that you would yield. Likewise, the different level of irrigation would have an impact on the rarity of Crops yielded. As the Farmers progress in the game, he/she would be able to establish the types of seasonality and irrigation required to obtain Godlike Crops, which would drastically enhance the value of the WEB3 X Farms rental value.

Crops Rarity

WEB3 X Farm was created with the goal of simulating the farming industry as realistically as possible in order to give game proprietors the most lifelike experiences. Every Farm will have a varied potential for exploitation, and the more crops a Farm has, the more valuable it is. One of the first in-game commodities that players must possess in order to develop their farm economy model is a crop. With crops, players can simulate a real farmer’s everyday tasks by tending to their garden in order to maximize the amount of agricultural items they can gather. There will also be a maximum number of crops that can be placed on your plot of land depending on your Farm type .

WEB3 X NFT Marketplace

A non-fungible token (NFT) marketplace would facilitate the transaction of Farm, Seed, Avatar where NFTs could be sold either directly with $WEB3X on the Ethereum chain.

DAO Governance

No matter how much they own, $WEB3X token owners have the ability to vote on numerous WEB3 X Farm future roadmap activities. The governance reward, future in-game events and potential staking rewards may be voted by $WEB3X holders. These parameters can be accessed on the WEB3 X website’s DAO tab.

Ultimately, WEB3 X community would be able to drive the growth of the WEB3 X Farm trajectory by encouraging more engagement in future proposals and for the betterment of WEB3 X community.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store