Somnium Times - Somnium 3.0 Marketplace and VR Transaction Pipeline: A New Era for Virtual Commerce

Somnium 3.0 Marketplace and VR Transaction Pipeline: A New Era for Virtual Commerce

Written by Anora

Somnium Space is furthering its commitment to fueling creators and their endeavors with their scheduled Somnium 3.0 update. The update is packed with a range of mind blowing feature enhancements and new functionalities that will propel this VR platform into the future. Especially the Marketplace and VR Transaction Pipeline will have a significant impact, providing creators a perfect platform to monetize their assets and consumers with seamless shopping experiences.

First look of the Marketplace in the Somnium Space Client.

Picture this: You’re strolling along the virtual shores of Deep Oasis Lake within Somnium Space’s immersive VR landscape. As the sun dips below the distant mountains, casting a mesmerizing sunset, your eyes catch a quaint shop adorned with a vibrant neon sign above its entrance. Intrigued, you decide to step inside, and what greets you are rows upon rows of exquisite outfits and dazzling wearables, glistening with allure. After trying on a few outfits, you make your selection, swiftly complete the purchase, and exit the charming boutique.

Later, as you reflect on your VR excursion, you can’t help but wish you had also snagged those cool glasses that caught your eye. Determined not to miss out, you revisit the same wearable collection using the Somnium Client later that day and make the desired purchase.

These seamless browsing and shopping experiences effortlessly transcend realities. Whether you prefer the convenience of the PC client or crave the immersive thrill of a Metaverse shopping spree within VR, the choice is entirely yours.

Powering this Marketplace and VR transaction pipeline is CUBE, Somnium’s utility token, in conjunction with Polygon, the Ethereum sidechain. Notably, it incorporates a built-in royalties system, allowing creators to establish a perpetual income stream triggered each time their NFT assets change hands.

Somnium Space wrote this:

One of the key upgrades to our Marketplace is the addition of the Creators Royalties system. This groundbreaking feature allows creators to activate a perpetual 5% royalty on their items, which is applied each time an item is resold. What makes this especially notable is its transparency and on-chain operation. This not only ensures creators are fairly rewarded for their work over time, but it also strengthen the entire process with an unparalleled level of transparency, engraving trust and security in every transaction

Assets within this ecosystem are minted as NFTs, a foundational feature that continues to empower creators. This approach ensures a clear separation between platform and community creations. While asset ownership has always been a cornerstone of Somnium Space, the introduction of the Marketplace and VR Transaction Pipeline unveils the full potential of blockchain and NFT technology, bringing it to the forefront of the experience.

I asked our editor of the Somnium Times, Marc Demar, his thoughts on the matter, in which he professed the following:

These updates are going to put a lot of power in the hands of the community. There is no doubt that it will seriously fuel the in-world, Metaverse economy. It will allow for a fully native trading experience, which is great news for creators and consumers alike. Brands and stores will find their way to Somnium. The next creative explosion is upon us, and rest assured that even existing brands in physical reality will be bound to find their way to Somnium to offer state of the art digital shopping experiences for their customers.

About Somnium Space

Somnium Space is a blockchain-based virtual reality platform that allows users to create, experience, and monetize content and applications. The platform is committed to building a decentralized and immersive VR world that offers users a unique and engaging experience.

Web: https://somniumspace.com

Authencity: https://authencity.io/user/somniumspace

Twitter: https://twitter.com/SomniumSpace