AlterVerse Research Report Web3 Sandbox Game Based on Binance Chain

AlterVerse Research Report Web3 Sandbox Game on Binance Chain

Table of Contents

1. Research Points

1.1. Core Investment Logic

1.2. Valuation

2. Project Overview

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2.1. Project Scope

2.2. Past Development and Roadmap

2.3. Team Information

3. Business Analysis

3.1. Target Audience

3.2. Business Categories

3.3. Business Details

3.4. Industry Space and Potential

3.5. Business Data

3.6. Project Competitive Landscape

3.7. Token Economy Model Analysis

4. Preliminary Valuation

4.1. Core Issues

4.2. Risk Analysis

5. References

AlterVerse

Date: Issue 12, July 31, 2023

Project Introduction (Cover)

AlterVerse is an interlinked metaverse game and AAA-level game creation platform based on the Binance Chain (will integrate Polygon, ETH chain in the future). It will create a revolutionary MetaServers technology that allows players to navigate between different 3D game worlds like browsing webpages. At the same time, with the help of MetaServers, it empowers creators by providing a no-code Web3 game production tool, allowing players to create their own games using AAA game graphics, conversational AI, decentralized game servers, and real-world reward advantages and distinctive features. It offers a unique gaming experience that allows anyone to easily create an immersive and interconnected virtual world.

1. Research Points

1.1. Core Investment Logic

AlterVerse is a metaverse game platform and development platform built on Unreal Engine 5, incorporating innovative MetaServers technology.

Currently in the early testing and access phase, it is planned to conduct public testing and token issuance in 2023.

Project vision: To launch one million Web3 games and become the world’s largest metaverse game platform, providing a secure, fair, and fun gaming environment for creators and players.

• Team: The team has strong game development experience and can gradually advance the project according to the roadmap. However, their metaverse platform, AlterVerse, has not yet been officially launched, and the team’s capabilities still need to be verified. In 2019, the team developed a multiplayer online sandbox game called Disruption, which was released as an early access version on Steam at the end of 2020 with a price of $17.99. However, the game’s market performance was poor, with only 5 user reviews and mixed feedback, indicating insufficient playability and appeal. The team later expanded their vision to a complete metaverse platform but needs to improve user experience and retention after the game is launched to prove their competitiveness in the metaverse field.

• Game Aspect: The advantage of the game lies in its exquisite scene construction, rich game modes, high degree of character customization, and the ability to attract different types of players, with a certain degree of playability and retention rate. The game’s economic model also conforms to the trend of Play to Earn, as game props and tokens can be traded on internal or external markets, increasing players’ earnings and engagement.

The disadvantage is that it has not been officially launched yet, only undergoing a testing phase of 4 days every two weeks. The stability and completeness of the game still need to be observed. The game’s support for VR devices is also not perfect, which may affect the experience of some players. At the same time, the metaverse field where the game is located is facing fierce competition, and the number of racing players is also worrisome. The daily active users of the two leading metaverse projects, Decentraland and The Sandbox, are 38 and 522 respectively. AlterVerse needs to continue observing the game’s user play and retention to determine its attractiveness.

• Financial Aspect: The project stood out in the fourth quarter of the Binance incubation program and became one of the 14 finalists out of 500 projects. It received the lead investment from Binance Labs and follow-up investments from multiple investment institutions, including Polygon Ventures, Ankr, EnjinStarter, Baselayer Capital, PolkaBridge Ventures, etc. The project has not disclosed the specific amount of financing, but according to the white paper, it is estimated to be $1.6 million, which may not be sufficient for a narrative-rich metaverse platform. The project needs to allocate funds and develop progress reasonably. The project is expected to conduct token TGE in August/September 2023, but there is no announcement regarding public offering, so it needs to be followed up. With the endorsement of well-known institutions such as Binance and Polygon, fundraising should not be difficult. Keep an eye on it.

• Partnership Aspect: The project is very active in terms of partnerships and often updates partnership resources on Twitter, increasing the project’s exposure and credibility. The project has announced 100+ strategic partners on its official website, covering investment institutions, media platforms, game developers, NFT markets, and other fields, demonstrating the strong marketing and promotion capabilities of its team, as well as extensive industry resources. Some well-known brands are among the project’s partners, such as Binance, Polygon, Ankr, Enjin, etc. These brands are leaders or participants in the metaverse field, providing the project with advantages in terms of technical support, market promotion, and user traffic.

In summary, AlterVerse has excellent overall strength and is a metaverse game platform with high growth potential and competitiveness, worth paying attention to.

1.2. Valuation

According to its official website, AlterVerse previously completed a private placement financing in October 2022, but did not disclose the financing amount and valuation. However, based on its disclosed economic model, this financing round may be a Series A private placement, with a financing amount of $1.6 million and a valuation of $20 million, with a token price of $0.02.

In addition, according to its announced financing plan, the upcoming financing plans are as follows:

Private placement Series B, planning to raise $3 million, token financing price of $0.03, financing valuation of $30 million;

Public offering round, planning to raise $400,000, token financing price of $0.04, financing valuation of $40 million;

Let’s make a simple comparison between the market performance when similar projects were launched and the current market performance:

We can make a simple prediction of AlterVerse’s potential secondary market performance. Of course, considering the current market environment of metaverse projects and the market environment when SAND and MANA were launched, we can increase the valuation appropriately. The predicted price is for reference only.

Assuming that ACE can achieve performance comparable to SAND and MANA when it goes live, its fully circulating market value prediction is between $50 million and $100 million, and the secondary market launch price may be between $0.05 and $0.1.

2. Project Overview

2.1. Project Scope

As an interconnected metaverse and AAA game creation platform, AlterVerse allows users to play and create an unlimited number of interconnected games and worlds. The business scope of AlterVerse includes the following aspects:

 Providing a game and world development platform based on Unreal Engine 5 (similar to “Minecraft”) and Metasevers, allowing creators to easily build their own games and worlds without programming or design experience. Creators can use various templates, tools, resources, and tutorials provided by AlterVerse to customize the appearance, functionality, rules, and logic of their games and worlds.

 Providing an NFT creation and trading platform supported by Enjin and Altura&NFT, as well as various DeFi services, allowing users to own and trade unique digital assets in games and worlds, as well as participate in various financial services. Users can use ACE or other cryptocurrencies to buy, sell, lease, or auction various NFTs, such as SKYCITY, characters, equipment, props, etc. Users can also use ACE or other cryptocurrencies to participate in various DeFi services, such as lending, liquidity mining, etc.

 Providing a community-based game and world operation platform, allowing users to engage in various activities in games and worlds, such as exploration, shopping, entertainment, socializing, learning, and earning money. Users can join or create their own communities, interact and cooperate with other users, participate in various competitions and activities, earn rewards and reputation, and become managers of games and worlds, managing their own games and worlds and inviting other users to join for entrance fees, etc.

2.2. Past Development and Roadmap

2.2.1. Past Development

2.2.2. Current Development Progress

2.2.3. Development Plan and Roadmap

 2023: AlterVerse plans to achieve the following goals in 2023:

① Launch the public test version of Sky City: Sky City is the center and entrance of AlterVerse, a free Metaverse hub where users can engage in social, shopping, entertainment, and other activities in virtual space. Sky City will be open to all users in 2023, allowing more people to experience the Metaverse gaming platform of AlterVerse.

② Launch the public issuance of $ACE token: $ACE is the token of AlterVerse, which can be used to purchase, trade, and earn in-game NFTs. $ACE will be listed on mainstream exchanges in 2023, enabling more people to participate in the economic system of AlterVerse.

③ Launch 12 Metaverse games with different themes and gameplay: AlterVerse will launch 12 Metaverse games with different themes and gameplay in 2023, such as SLianGuairta, Caerule, etc. These games will be interconnected with Sky City, forming an infinite Metaverse network. Users can customize their characters, spaces, and items in these games and convert them into NFTs.

④ Collaborate and promote with more industries and sectors: AlterVerse will collaborate and promote with more industries and sectors in 2023, such as retail, e-commerce, media, sports, finance, etc. It provides these partners with opportunities to establish their own brands and services in the Metaverse, offering users more choices and experiences.

 2024: AlterVerse plans to achieve the following goals in 2024:

• Launch the official version of Sky City: Sky City will be officially launched in 2024, providing more features and optimizations, such as the NFT market, game lobby, activity center, etc. Sky City will become the core and most important Metaverse gaming platform of AlterVerse.

• Launch more Metaverse games: AlterVerse will launch more Metaverse games in 2024, covering more themes and gameplay, such as history, science fiction, horror, etc. These games will be interconnected with Sky City, forming an infinite Metaverse network. Users can enjoy more adventures and fun in these games.

• Support more NFTs and cryptocurrencies: AlterVerse will support more NFTs and cryptocurrencies in 2024, allowing users to create, trade, and earn virtual assets using different platforms and protocols. AlterVerse will collaborate with Enjin, Efinity, Polygon, etc., providing more efficient and convenient NFT and cryptocurrency services.

• Interconnect with other Metaverse gaming platforms: AlterVerse will interconnect with other Metaverse gaming platforms in 2024, allowing users to freely travel and explore different game worlds and use their own NFTs. AlterVerse will collaborate with Decentraland, The Sandbox, Axie Infinity, etc., to create an open and decentralized Metaverse ecosystem.

2.3. Team Information

2.3.1. Overall Situation

According to the official website and the project DECK display, the AlterVerse team is composed of experienced professionals in the gaming industry, with more than 20 members including game designers, programmers, artists, marketing personnel, consultants, etc. The team members have rich experience and background in game development and blockchain technology, such as Unreal Engine, Enjin, Efinity, Polygon, etc.

Games they have collaborated on include: “The Witcher”, “Call of Duty”, “World of Warcraft”, “Starcraft”, “Destiny”, “Guitar Hero”, “Crash Bandicoot”, “Spyro”, “Tony Hawk”, “Diablo” and “Medal of Honor”.

Companies they have worked with include: Activision/Blizzard, Electronic Arts (EA), CD Projekt Red, Acclaim, Sierra Entertainment, etc.

2.3.2. Core Members

Scot Kinney is the founder and CEO of AlterVerse. He is a senior game developer and entrepreneur who has founded multiple successful game companies such as Kinney Interactive, Kinney Games, Kinney Studios, etc. Scot Kinney has over 30 years of game development experience and has been involved in multiple well-known game projects such as Star Trek Online, Star Wars Galaxies, EverQuest II, etc.

Michael Reino is the co-founder and CTO of AlterVerse. He joined the AlterVerse team in 2012 and is responsible for game technology development and optimization.

LianGuait Gerleman is the COO of AlterVerse. He has 17 years of experience in the gaming industry and has worked at Activision Blizzard, managing well-known game brands such as Call of Duty, Destiny, World of Warcraft, Overwatch, etc. He also has experience working with giants like GameStop, selling various games, expansions, season passes, in-game currencies, and collectibles.

Simon Kertonegoro is the CMO of AlterVerse. He is a digital marketing and community management expert with 10 years of experience and has held important positions in multiple well-known blockchain and cryptocurrency projects such as Enjin, Axie Infinity, Decentraland, etc. Simon Kertonegoro has a deep understanding of games and metaverses and has been involved in the promotion and operation of multiple game and metaverse projects such as The Six Dragons, Lost Relics, The Sandbox, etc.

The AlterVerse team also includes excellent programmers, artists, sound designers, community managers, etc. The team members come from different countries and regions such as the United States, Canada, the United Kingdom, Poland, Australia, etc. The team members share a common vision and passion, and are committed to building an open, free, and inclusive metaverse platform.

AlterVerse also has the support of some well-known advisors and investors, such as Nicholas Longano (former President of Majesco Entertainment), PolkaBridge Ventures (a leading cross-chain investment institution), Samurai Starter (an incubator focusing on metaverse projects), etc. AlterVerse has also established close relationships with multiple partners, such as Enjin (a leading NFT platform), PolkaBridge (a cross-chain bridging protocol), Altura (an intelligent NFT platform), Capshort (a social financial platform), TOPGOAL (a sports NFT platform), etc.

2.3.3. Financing Situation

AlterVerse was an early participant in the Binance Labs incubation program and was one of the 14 finalists in the fourth quarter incubation program. After completing the program, it received private financing from multiple investment institutions such as Binance Labs.

In October 2022, AlterVerse’s private financing round was led by Binance Labs and received follow-on investments from Polygon Ventures, Ankr, EnjinStarter, Baselayer Capital, PolkaBridge Ventures, and other investment institutions. The amount and valuation of AlterVerse’s private financing round have not been disclosed, but it is reported that the financing will be used to accelerate the development and promotion of its Metaverse gaming platform.

3. Business Analysis

3.1. Service Targets

AlterVerse mainly serves two types of entities: creators and players.

3.1.1. Creators

Creators are users who use the AlterVerse platform to build their own games and worlds. Creators can easily create game worlds with their own styles and features using the tools and resources provided by AlterVerse, without the need for programming or design experience, and publish them on the AlterVerse platform for other players to enter and experience.

Game creators can showcase their creativity and talent in AlterVerse, attract other users to join or purchase their games and worlds, and gain income and recognition. They can also collaborate or compete with other creators in AlterVerse, learn and exchange various skills and experiences to improve their level and influence.

3.1.2. Players

Players are users who use the AlterVerse platform to experience different game worlds. Players can browse and select game worlds of their interest on the AlterVerse platform and enter them for exploration, competition, and cooperation. They can also own, trade, and earn unique digital assets such as characters, equipment, items, and land in the games. Additionally, they can interact and cooperate with other players, participate in various competitions and activities, and earn various rewards and reputation in AlterVerse. They can also own and trade various NFTs and DeFi in AlterVerse to increase their income and wealth.

3.2. Business Classification

AlterVerse’s business can be classified into the following categories:

3.2.1. Game Creation Platform

This is the core business of AlterVerse and the biggest difference between it and other Web3 gaming platforms. AlterVerse provides a functional creation platform for games based on Unreal Engine 5 and an innovative Altura NFT platform, allowing creators to easily build their own game worlds without programming or design experience, and easily convert game assets into NFTs. AlterVerse provides a wealth of templates, materials, tools, and services that allow creators to freely customize and optimize their game worlds and publish them on the AlterVerse platform for other players to enter and experience.

3.2.2. Game Projects

This is the main business of AlterVerse and an important way to attract and retain players.

AlterVerse will be divided into four stages, including the upcoming three game projects (Sky City, OutPost, and Raiders) and its own Metasevers. These game projects are game worlds created on the AlterVerse platform, with different themes and gameplay, providing players with rich gaming experiences.

At the same time, nine worlds are under development. Creators will be able to mix and match these new assets with flagship game templates to create infinitely scalable content.

3.2.3. Game Platform

This is the ancillary business of AlterVerse and an important way to support and enhance its core and main businesses. AlterVerse provides a game platform that supports NFTs and cryptocurrencies, allowing players to own, trade, and earn unique digital assets in the game, enjoying true ownership and benefits. It also adopts a DAO model for governance, allowing users holding ACE to influence the platform’s development direction through voting.

3.3. Business Details

3.3.1. Game Creation Platform

The core of AlterVerse is the groundbreaking MetaServer infrastructure, which is the cornerstone of a truly decentralized metaverse, where creators retain absolute control over their games and experiences. This infrastructure provides seamless access to all games, including MetaServers, through the AlterVerse platform. It facilitates free inter-dimensional teleportation and provides a multiplayer gaming experience with up to 200 players per server.

Utilizing the capabilities of Unreal Engine 5 and the innovative Altura NFT platform, AlterVerse will launch Metasevers to the world, which are not just servers, but creation platforms that allow anyone and everyone to build their own AAA-quality games, all with integrated NFT utilities.

The AlterVerse game creation platform offers the following features and functionalities:

1) Based on Unreal Engine 5

The AlterVerse game creation platform utilizes the state-of-the-art Unreal Engine 5, allowing creators to enjoy the highest quality graphics, physics, sound effects, and animations. They can also leverage the various features and optimizations provided by Unreal Engine 5 to enhance the performance and experience of their game worlds. They can also conveniently use asset tools from the UE Marketplace for game building.

2) GPT Integrated Conversational AI

AlterVerse is integrating conversational AI into its core infrastructure, allowing creators to build interactive, voice-compatible non-player characters (NPCs). These NPCs can provide players with endless dialogue content, helping them find their way in the game.

Creators can personalize the appearance, background story, actions, and knowledge base of each character, making their game unique and engaging.

3) Physical Rewards

AlterVerse incorporates real-world rewards into the game, allowing players to purchase and earn tangible goods from in-game stores, win practical items that improve real-life experiences, and have an immersive business experience.

4) Decentralized Game Servers

Creators have full control over their game servers. This unique approach, combined with the plug-and-play Web3 integration, makes AlterVerse the most decentralized game creator in the world.

Here, players have complete autonomy over their experiences, and customizable game templates provide a foundation for designing unique content quickly and easily.

5) No Programming or Design Experience Required

The AlterVerse game creation platform uses a simple and user-friendly visual editor that allows creators to create and edit game worlds on an intuitive interface without writing any code or designing any graphics. Creators can arrange environments, buildings, vehicles, characters, and props through drag-and-drop, zooming, rotating, and other operations, and set their attributes and behaviors.

6) Rich Templates and Assets

The AlterVerse game creation platform offers a wide range of templates and assets covering different types and styles of environments, buildings, vehicles, characters, and props, allowing creators to choose and modify their preferred templates and assets. These templates and assets are high-quality NFTs representing unique digital assets that creators can own by purchasing or earning them, and can generate revenue by selling or exchanging them.

7) Powerful Tools and Services

The AlterVerse game creation platform provides a range of tools and services that make it easier for creators to create and manage their game worlds. For example, the script tool allows creators to write the logic and interaction of the game world in a simple programming language; the testing tool allows creators to test and debug the game world in a simulated environment; the storage and publishing services allow creators to save and publish their created game worlds on the AlterVerse platform, and earn revenue from their created game worlds. It also provides built-in voice chat functionality, allowing users to communicate and collaborate more conveniently, and interact with other users through comments, ratings, favorites, shares, and more.

3.3.2. Game Projects

AlterVerse will be divided into four stages.

Stage 1: Sky City — 85% completed

Sky City is the first city server and central hub of AlterVerse. It is an aerial city consisting of 17 massive platforms where users can explore various attractions, shops, apartments, clubs, etc. Users can also drive cars or hovercrafts to travel between different platforms. Sky City also offers various game modes such as racing, shooting, and capture the flag, allowing users to engage in intense battles and collaboration in the sky. Sky City also supports users to purchase land to build their own homes and businesses, as well as buy and trade various NFT items such as cars, weapons, and clothing.

Inner Circle: The Inner Circle is the best real estate in Sky City. It features a mini-mall with many shops and the Rocket Shop.

Here, users can find sky cars, hovercrafts, and town cars. The Pit, Sky City Club, City Hall, and Arnold’s Restaurant are also located in this area.

Stage 2: OutPost — 70% completed

OutPost is a shooting game developed based on Unreal Engine 5. Users can engage in deathmatch or team capture the flag modes in a space station with other players. OutPost offers a high degree of customization, allowing users to choose different characters, weapons, equipment, and skills to adapt to different battlefield environments and strategies. OutPost also supports users to buy and trade various NFT items such as weapons, equipment, and skills, making it suitable for game guilds.

Stage 3: R e k t — 70% completed

R e k t is a hardcore survival game and part of the AlterVerse series. The story takes place in a sci-fi world where players must survive on a ship that has lost its way near the Three Sisters Galaxy. Players must face dangers such as radiation, anomalies, mutants, and other players. They can also own and operate their own game servers and trade with $ACE. This game is expected to be released later this year.

Stage 4: Metaservers — 40% completed

What are Metaservers?

As a revolutionary innovation at the core of AlterVerse, Metaservers make it possible to access interconnected, NFT-driven 3D worlds from anywhere, just like web hosts on the internet. This technology allows users to “teleport” between these different worlds through an interactive server list in AlterVerse, turning each server into clickable gateways similar to internet hyperlinks.

Metaservers are servers that can be modified and sold to cities, clubs/associations, and game guilds, allowing them to enter the metaverse. There are three types: city servers, club servers, and game servers, each with different functions, scales, and themes. Owners can profit from them using $ACE, such as selling items, hosting events, and providing game services.

In addition, there are nine games currently under development.

Viken: Viken is a game set in the Viking era, where players can explore, battle, and trade in a world full of adventure and legends. Players can also build their own ships, villages, and fortresses, engage in wars or alliances with other players or hostile forces, and participate in various missions and activities.

SLianGuairta: SLianGuairta is a game set in ancient Greece, where players can experience epic battles and adventures in a world full of myths and heroes. Players can choose different city-states and factions, compete or cooperate with other players or gods, and participate in various challenges and rewards.

Caerule: Caerule is a game set in a futuristic sci-fi world, where players can explore, survive, and create in a world full of wonders and dangers. Players can pilot different flying vehicles and robots, travel and battle in the air and on the ground, as well as collect and craft various resources and items.

Maya: Maya is a game set in ancient American civilizations, where players can experience ancient cultures and legends in a world full of mystery and magic. Players can build their own pyramids, temples, and cities, communicate or confront other players or supernatural powers, and participate in various rituals and ceremonies.

The Bog: The Bog is a game with a theme of horror survival, where players can try to escape or resist in a world full of fear and suspense. Players can use various weapons and items, search for clues and a way out in swamps, forests, and ruins, while avoiding encounters with various monsters and traps.

Mytriel: Mytriel is a game with a theme of fantasy adventure, where players can experience different characters and stories in a world full of charm and miracles. Players can choose different races and professions, cooperate or compete with other players or NPCs, and participate in various quests and events.

Sudarak: Sudarak is a game with a theme of Eastern martial arts, where players can experience different styles and sects in a world full of martial arts and the martial world. Players can learn different martial arts and internal skills, travel and struggle in the martial world, as well as participate in various martial arts competitions and bounties.

Illura: Illura is a game with a theme of ocean exploration, where players can experience different underwater creatures and environments in a world full of beauty and danger. Players can pilot different submarines and underwater equipment, travel and research underwater and on islands, as well as collect and trade various rare and useful items.

LianGuaingaea: LianGuaingaea is a game set in prehistoric times, where players can experience different survival and adventures in a world full of ancient and dinosaurs. LianGuaingaea players can build their own camps, tools, and weapons, interact or battle with other players or dinosaurs, as well as participate in various hunting and gathering activities.

These games are all part of AlterVerse and will be connected to Sky City to form an infinite Metaverse network. Users can customize their characters, spaces, and items in these games and convert them into NFTs.

3.3.3. Game Platform

AlterVerse provides a game platform that supports NFTs and cryptocurrencies and adopts a DAO model for governance, allowing players to own, trade, and earn unique digital assets in the game, enjoying true ownership and profits. At the same time, users holding ACE can influence the platform’s development direction through voting.

• 3.3.3.1. Game Economy System

The game economy is roughly divided into three categories: Alpha – Beta – Gamma

1) AlterVerse Alpha

AlterVerse Alpha is the in-game economy, which distributes and destroys $ACE through various game activities such as earning through exploration, battle games, PvP, PvE, racing, mini-games, mystery boxes, weapon-clothing-vehicle skin sales, billboard advertising sales, restaurant/food sales, NFT art sales, home goods sales, etc.

It mainly includes the following:

• Visit various casinos and game halls in Sky City, play various classic casino games, bet with stablecoins or ACE, and win prizes.
• Purchase premium passes at Club Sky City to participate in various activities, performances, concerts, or showcase your dance moves.
• Purchase, craft, harvest, and buy various consumables and food to provide higher energy for walking or fighting creatures in AlterVerse.
• Obtain ACE through hunting, fishing, and food cultivation, which can be used to purchase skins, weapons, equipment, loot boxes, etc.
• Place bets in multiple events and mini-games that occur in AlterVerse to win more ACE.
• Rent advertising space on billboards to showcase your brand or project, and pay advertising fees with ACE.

AlterVerse Alpha also has a decentralized engine, which is a smart contract that distributes a portion of the game’s revenue to players, developers, and the community. The goal of the decentralized engine is to incentivize more people to participate in and create content for AlterVerse.

2) AlterVerse Beta

AlterVerse Beta is the economy before acquiring skills or entering the game. It mainly includes banks, land sales, apartment and office sales, city server sales, game server sales, club server sales, partner programs, etc. Players can experience the game’s features in the following ways:

• Pledge ACE in AlterVerse Bank to earn annual returns without a lock-up period, and rewards and principal can be withdrawn at any time.
• Borrow various assets by using ACE as collateral. Other cryptocurrencies can also be used as collateral to borrow ACE.
• The platform integrates with various DeFi lending platforms, allowing ACE holders to get better interest rates than the market for borrowing and lending various cryptocurrencies.
• Purchase or lease land in AlterVerse to build your own home or office. The purchased land can be subleased or resold. Using ACE to purchase land also enjoys discounted prices.
• Build your own store or home on the purchased or leased land. Use custom portals and choose various aesthetic options. Using ACE to customize stores or homes also enjoys discounted prices.
• Purchase or lease city servers and club servers to run your own city and events. All servers will use ACE as currency.

AlterVerse beta also has a decentralized engine that distributes a portion of the game’s generated revenue to players, developers, and the community. The decentralized engine aims to achieve the same goal.

3) AlterVerse Gamma

AlterVerse Gamma focuses on governance. The DAO will decide the distribution of surplus funds collected from all activities in AlterVerse Alpha and Beta. It is the next stage of game development that allows players to participate in governance, voting, and decision-making in more scenarios. Players can experience the following features in the game:

• Join the DAO and participate in various important decisions, such as collaboration with projects, integration of multiple chains, selling Sky City versions, setting up staking rewards, acquiring game studios, deploying reward pools, burning ACE, using the decentralized engine, harvesting farm rewards, and protocol upgrades.
• Join special instance DAOs and participate in local political, tax, and military affairs, such as electing mayors and council members, restructuring tax policies, allocating budgets, building defenses, and purchasing weapons and special vehicles.
• The DAO’s income mainly comes from AlterVerse NFT sales, MetaServer NFT sales, NFT marketplace fees, land transaction fees, fees from partner in-game stores, Ace Royale membership fees, e-sports betting fees, event and exhibition fees, and profit sharing from partners.
• The DAO’s expenses mainly include reward distribution of the decentralized engine, token buyback and burn, funding of community proposals, and integration costs of protocols.
• The governance role of the DAO is to determine the allocation and use of ACE, as well as the development direction and strategy of AlterVerse.

Meanwhile, AlterVerse Gamma also has a decentralized engine that distributes a portion of the game’s generated revenue to players, developers, and the community. The decentralized engine aims to achieve the same goal.

• 3.3.3.2. NFT Marketplace

The NFT Marketplace is an important component of the AlterVerse ecosystem, providing users and creators with a convenient, secure, and fair platform for NFT transactions. In the NFT Marketplace, users and creators can buy and sell various types of NFTs using ACE, including NFTs officially produced by AlterVerse, NFTs produced by MetaServer creators, and NFTs produced by other partners. The NFT Marketplace has the following characteristics and advantages:

1) It supports various types of NFTs, including game items, artworks, collectibles, music, videos, etc., to meet the needs and preferences of different users and creators.

2) It provides a user-friendly interface that allows users and creators to quickly browse, search, filter, publish, buy, and sell NFTs. They can also view detailed information, transaction history, ownership proof, and more.

3) It implements a reasonable fee mechanism, charging a certain percentage of fees for each NFT transaction and distributing these fees to the corresponding stakeholders, including beneficiaries, creators, and the AlterVerse DAO.

4) It encourages interaction and community building among users and creators, allowing them to express their opinions and feelings through comments, collections, sharing, etc. They can also participate in various activities and competitions to earn rewards and honors.

• 3.3.3.3. Ace Royale Community

Ace Royale Community is an exclusive VIP community of AlterVerse, which provides a range of benefits and rewards for ACE holders. The purpose of the Ace Royale Community is to motivate users to engage in more games and interactions in AlterVerse, and to enhance their status and influence in AlterVerse. The features and advantages of the Ace Royale Community are as follows:

• A paid community where users need to pay 29 USD worth of ACE every month to join. This ensures the high quality and high level of participation in the community, and provides financial support for the operation and development of the community.
• A gamified community where users can enhance their level in the community by completing various interesting in-game activities, and can receive corresponding rewards and honors. The Ace Royale Community has seven levels, namely LianGuaitron, Pioneer, Prodigy, Luminary, Visionary, Champion, and Titan.
• A community with generous rewards, where users can obtain various rewards by increasing their level in the community, including exclusive NFT drops, in-game drop multipliers, discounts at the AlterVerse NFT store, and ACE transaction discounts.
• An interactive community where users can communicate and interact with other community members through comments, favorites, shares, etc., and can participate in various community activities and contests to increase their reputation and influence in the community.

It provides users with a unique and interesting gaming experience, while also providing a powerful value capture mechanism for ACE.

3.4. Industry Space and Potential

3.4.1. Classification

AlterVerse belongs to the gaming sector, specifically the sandbox game subsector.

3.4.2. Market Size

• 3.4.2.1. Gaming market size

The metaverse could be the next generation of the internet – combining the physical and digital worlds in a persistent and immersive way – rather than just a virtual reality world. A device-agnostic metaverse that can be accessed through PCs, game consoles, and smartphones could form a very large ecosystem. It is estimated that by 2030, the total addressable market of the metaverse economy could grow to between $8 trillion and $13 trillion.

According to a report by Newzoo, by 2023, the number of global gamers will exceed 3 billion, an increase of 11.1% compared to 2.69 billion in 2020. Among them, mobile gamers will reach 2.85 billion, accounting for 94.4%; PC gamers will reach 1.47 billion, accounting for 48.8%; and console gamers will reach 0.91 billion, accounting for 30.2%. The Asia-Pacific region will continue to be the largest gaming market, with 1.84 billion gamers, accounting for 60.9%; followed by the Middle East and Africa, with 0.56 billion gamers, accounting for 18.5%; Europe has 0.42 billion gamers, accounting for 13.9%; North America has 0.31 billion gamers, accounting for 10.3%; and Latin America has 0.25 billion gamers, accounting for 8.3%.

Game players can be divided into the following types based on their motivations and behaviors:

• Achievers: These players set game-related challenges for themselves and strive to accomplish them. This means they need to accumulate a large amount of resources, experience, etc.
• Explorers: These players require a high degree of freedom, they will try various experiences that the game can provide and collect game equipment, etc. Collectors also belong to this type of game player.
• Socializers: These players enjoy communicating with other players during the game and like to enhance their social presence through guild or team mechanisms.
• Killers: They hope to use the tools provided in the game for destruction (including PK with NPCs/other players), or to use weapons to help others.

In traditional games, a competitive game meets one or several of the following characteristics: it can meet the needs of one or more types of players, has strong playability, top-notch art style, and can create profits for game players, etc.

Sandbox games have two main themes. The first theme is the ability to change, influence, and create the virtual world in the game. The core is to delegate the creative rights to the players, giving them a high degree of freedom, thereby greatly enhancing the playability of the game and reducing dependence on game operators. Another theme is socialization. The socialization in sandbox games is more small-scale and tends to occur among acquaintances.

The creativity of users is also one of the key factors for the sustainable development of sandbox games.

AlterVerse is a metaverse platform for game and world building, where users can play and create an infinite number of interconnected games and worlds. The most prominent competitive advantage of AlterVerse is its ability to meet the needs of various types of players and has high playability. Due to its high sandbox freedom and the provision of various tools and templates, it can attract a large number of advanced players, enabling re-creation within the ecosystem, forming a good cycle. AlterVerse supports single-player games and multiplayer servers. Users can experience different game modes on different servers, including Sky City, OutPost, etc. Sky City is a free-to-play central hub, a floating city with various entertainment facilities such as shops, bars, casinos, cinemas, stadiums, etc., as well as some unique game activities. Sky City can meet the needs of explorers and socializers. OutPost is a new version of the Disruption game based on Unreal Engine 5, renamed as OutPost. It is a multiplayer FPS game where players can explore and battle in space. OutPost can meet the needs of achievers and killers. Multiplayer servers usually have forums and guilds and can establish small-scale socialization within sandbox games. There are nested games in the virtual space, some of which are created by advanced players. The content created by players can be freely priced and sold, giving players the opportunity to profit from game resources.

• 3.4.2.2. NFT Market Size

NFT types are mainly divided into digital collectibles and game equipment.

According to the Nonfungible website, in the first half of 2023, the number of active addresses in the global NFT market was 87,897, an increase of 11.4% compared to the first half of 2022, which was 78,881. In the first half of 2023, the global NFT market’s transaction volume was $290 million, a 26.1% increase compared to the first half of 2022, which was $230 million.

Collectibles

Types include digital art, cards, images, etc., without any practical use.

There are many types of collectibles, including art, antiques, stamps, luxury goods, etc. Their value depends on: 1) historical value, the age and cultural connotation of the item cannot be replicated; 2) celebrity effect, the association with celebrities will enhance its value; 3) aesthetic value, the artistic level and creativity of the work will be recognized and appreciated by the public; 4) rarity, the quantity of the item and the supply-demand relationship will affect its price.

People’s motivation for buying collectibles can be divided into 3 categories: 1) hobby; 2) expectation of appreciation; 3) preservation of value.

In 2022, the global art auction market was approximately $16.3 billion, with about 750,000 pieces of art auctioned. Among them, the top 100 global auctions averaged about 20 pieces of art per person, indicating that the auction market is dominated by a few wealthy individuals. The secondary market for art NFTs on platforms such as SuperRare, Known Origin, and Makers Place had a total transaction volume of approximately $35.72 million in the first quarter of 2023; the number of transactions was about 165,000; and the number of active addresses involved in the transactions was about 9,040. These data indicate that the digital art collectibles NFT market is also participated by a small number of people. Only collectibles with high liquidity and consensus of value can be called “digital gold”.

However, the value support for collectible NFTs is currently insufficient. Many rely on artificial hype and speculation to maintain prices and have not formed a widespread consensus of value, with low liquidity. In order to increase the value of collectible NFTs, the future development trend is to use the celebrity effect and cooperate with well-known brands or large institutions to launch limited-edition NFTs, such as Binance anniversary commemorative NFTs, etc. The main reason why blockchain users purchase NFT digital collectibles is to expect them to appreciate in value and profit from them.

Game Equipment

Represented by virtual properties (LAND) in Sky City, weapons and equipment in OutPost, card games such as Gods Unchained, virtual reality games such as Decentraland, etc.

Game equipment NFTs are NFTs that can be used in game scenarios. They allow users to have real ownership of game assets without being affected by the centralized server data loss of game service providers. This type of NFT is particularly important in virtual reality games, with virtual properties (LAND) being the most representative NFT asset, allowing users to deploy content on land they purchase or lease and generate income from it. It is estimated that the global gaming market revenue will reach $20-30 billion in 2023, making game equipment NFTs a sub-market with enormous potential.

The playability of a game is the foundation for attracting game players, forming consensus on the value of game assets, and ensuring the sustainable development of the game. Only with enough players can game equipment have high liquidity.

3.5. Business Data

3.5.1. Social Media Data

As of July 26, 2023, ALTERVERSE has performed relatively well on social media platforms. Currently, ALTERVERSE’s Twitter account has attracted nearly 60,000 followers, becoming one of the most popular channels with frequent Twitter updates. At the same time, users actively participate in discussions in the Discord community, creating an active community atmosphere. Here are the specific data for each platform:

• Twitter: 58.3K followers
• Discord: 8.1K followers
• Telegram: 10.6K followers

3.5.2. Partnerships

ALTERVERSE is very active in terms of partnerships and often updates partnership resources on Twitter. The project has announced 100+ strategic partners on its official website, covering investment institutions, media platforms, game developers, NFT markets, and other fields, demonstrating its team’s strong marketing and promotional capabilities, as well as extensive industry resources.

3.6. Project Competition Landscape

According to the comparison information disclosed on the ALTERVERSE official website, the reference competitive projects for ALTERVERSE include The Sandbox, Roblox, Minecraft, Fortnite, and Decentraland, demonstrating its competitive advantages.

The comparison is mainly based on realistic graphics, integration of artificial intelligence, decentralized servers, decentralized currencies, interoperable assets, game templates, average player age, and game engines. It can be seen that AlterVerse has comprehensive advantages in innovative technology.

3.6.1. Competitive Projects

• 1. The Sandbox

The Sandbox is also a virtual reality sandbox game based on Ethereum, using pixel-level graphics to reduce the difficulty of game construction for game developers. Players can use the token SAND to purchase LAND (land plots) and other equipment. The Sandbox is led by Hashed, the largest crypto asset fund and accelerator company in South Korea. The Sandbox has a total of 166,464 land plots, contained in one map and divided into multiple regions, forming The Sandbox Metaverse.

The existing products of The Sandbox include Vox Edit (content editor), Marketplace (trading platform), and Game Maker (game creation tool). The project allows users to initiate transactions on Ethereum through the ERC-1776 standard, with gas fees paid by the platform, optimizing the overall user experience.

• 2. Roblox

Roblox is an online game platform and game creation system developed by Roblox Corporation. It allows users to program games and play games created by other users. Roblox was officially released in 2006 and uses Lua as its programming language. The platform is mainly targeted at children and teenagers, with over half of the children under 16 in the United States being Roblox users. Roblox is free to play, but users can purchase in-game items and services using a virtual currency called Robux.

Roblox allows players to create their own games, called “experiences,” using its proprietary engine, Roblox Studio. Users can use basic building blocks called bricks to build game scenes with different shapes and colors. They can also use some pre-made models and tools to add functionality and interactivity to their games. Users can create purchasable content, such as “game passes” and “developer products,” to increase their income. Over 20 million games are made using Roblox Studio every year, with the majority being developed by minors.

• 3. Minecraft

Minecraft is a sandbox game developed by Mojang Studios. It allows users to explore, build, fight, and create in a 3D world made up of blocks. Minecraft was released in 2009 and uses Java as its programming language. Minecraft is available on various platforms, including Windows, macOS, Linux, iOS, Android, Xbox, PlayStation, and Nintendo Switch. Minecraft is a paid game, but users can purchase in-game content such as skins, texture packs, and maps using a virtual currency called Minecoins.

Minecraft offers two main game modes: survival mode and creative mode. In survival mode, players need to gather resources, craft tools and weapons, build shelters, and fend off enemies and hunger. In creative mode, players have unlimited access to various blocks and items, allowing them to freely build their desired scenes and structures.

Users can also create custom game modes and rules or join servers and worlds created by other users. Minecraft also allows players to create their own content using its built-in code editor or external software, known as “mods.” Mods can be used to change the game’s appearance, behavior, mechanics, or add new elements and features.

Users can create their own maps and adventures or download maps and adventures shared by other users to play. Each year, millions of mods and maps are created and shared by Minecraft users.

• 4. Fortnite

Fortnite is a multiplayer online shooting game developed by Epic Games. It allows users to cooperate or compete in a large open world. Fortnite was released in 2017 and uses Unreal Engine 4 as its game engine. Fortnite is available on various platforms, including Windows, macOS, iOS, Android, Xbox, PlayStation, and Nintendo Switch. Fortnite is free to play, but users can purchase in-game clothing, weapons, and items using a virtual currency called V-Bucks.

Fortnite also allows players to create their own content using its built-in Creative Islands or external software. Users can use Creative Islands to create their own games and maps, or explore games and maps created by other users. Users can also use a feature called Replay Royale to record and edit their own gameplay videos and share them with other users. Millions of Creative Islands and Replay Royales are created and shared by Fortnite users every year.

• 5. Decentraland

Decentraland is a blockchain-based virtual reality world developed by the Decentraland Foundation. It allows users to create, experience, and monetize in a 3D world owned and controlled by the community. Decentraland was officially launched in 2020 and uses the Ethereum blockchain as its infrastructure. Decentraland’s platform can be accessed through a web browser or virtual reality devices. Decentraland is free to play, but users can purchase land, items, and services within the game using a virtual currency called MANA.

Decentraland allows players to play on a 2D grid consisting of 90,601 parcels of land, with each parcel called a LAND, representing ownership and control of the land. Players can build various scenes and applications on their own land, or sell or rent them to other players. Players can also combine multiple parcels of land into a larger area called an ESTATE, or join a community organization with a specific theme or goal called a DISTRICT. Users can also participate in regular activities and competitions, or watch virtual art exhibitions and concerts.

Decentraland also allows players to create their own content using its built-in editor or external software, called Scenes. Users can use Scenes to create their own games and applications and share them with other users. Users can also use a feature called Snapshots to take and share photos of themselves in Decentraland and interact with other users. Millions of Scenes and Snapshots are created and shared by Decentraland users every year.

• 6. Gameplay Comparison

In summary:

AlterVerse, Sandbox, and Decentraland all use LAND as a limited, tradable, user-owned, and user-controlled virtual space, but they also have the following differences:

• AlterVerse does not focus on land and instead emphasizes game and creation platforms. Its land is server-based, with each server able to accommodate multiple players. Players can create their own worlds on servers or join other players’ worlds. Players can purchase or sell servers using in-game currency or cryptocurrencies. AlterVerse has not yet disclosed the total amount of land or its prices.
• Sandbox’s land is blockchain-based, with each parcel of land being a unique NFT. Players can create their own games and assets on the land or join other players’ games. Players can purchase or sell land using the SAND token. Sandbox currently has 166,464 parcels of land, with each parcel covering an area of 96 square meters.
• Decentraland’s advantage lies in being one of the earliest metaverse platforms to go live, with the largest user base and most active community. Its land is also blockchain-based, with each parcel of land being a unique NFT. Players can create their own scenes and interactive systems on the land or join other players’ scenes. Players can purchase or sell land using the MANA token. Decentraland currently has 90,601 parcels of land, with each parcel covering an area of 10 square meters.

The main problem currently faced by blockchain virtual reality games is that the land in blockchain virtual reality games is owned by individuals/communities, and the content creation rights belong to individuals/communities, resulting in a large amount of unused land. On the one hand, the number of landowners is limited, and it is difficult to support the development of the game solely relying on landowners. Although users without land can also play the game, their participation is relatively low. The quality of the game depends on the level of content on the land, that is, the creative ability of the landowner. If the content level is not high, it is difficult to attract users to play, and the quality of users needs to be improved, so it is difficult to increase user stickiness. On the other hand, users are the foundation of the game. If user stickiness does not improve, landowners will find it difficult to obtain income other than the appreciation of land value, resulting in a decrease in the number of people wanting to purchase land, forming a vicious cycle that may lead to a lack of liquidity of assets such as spaceships and NFTs.

Compared with other blockchain virtual reality platforms/sandbox games, AlterVerse’s approach is based on self-created games and development platforms, aiming to attract and retain players through playability and creativity.

3.7. Token Economy Model Analysis

3.7.1. Token Total Supply and Distribution

• Native token ACE
• Maximum supply: 1 billion

Initial Distribution

Token total supply and distribution: The total supply of AlterVerse’s token is 1 billion, with a circulating supply of 23.5 million (2.35% of the total token supply) after listing. The specific distribution is as follows:

3.7.2. Token Value Capture

The main utility of ACE tokens is for various in-game transactions, purchasing LAND, clothing, and other NFTs, and participating in voting governance. At the same time, a burning mechanism has been introduced to increase the value of the token as a deflationary model.

The value capture of ACE tokens is mainly reflected in the following aspects:

1) ACE is the universal currency within the AlterVerse ecosystem. Holders can use ACE to purchase various NFTs, items, and participate in various activities and services, and can enjoy certain discounts and benefits. It has a wide range of use cases and applications.

2) ACE is the governance token of AlterVerse DAO. Holders can participate in AlterVerse’s decision-making by staking ACE and can receive rewards from AlterVerse DAO’s revenue.

3) ACE is a scarce resource in AlterVerse. Holders can use ACE to obtain rare NFTs and items in AlterVerse and can benefit from the burning of ACE.

3.7.3. Core Demand for Tokens

Based on the above information, the core demand for the tokens (ACE) of the AlterVerse project mainly includes the following aspects:

1) Users: Users are the consumers and users of ACE. They need ACE to purchase various NFTs, items, and participate in various activities and services, and can enjoy certain discounts and benefits.

2) Creators: Creators are producers and suppliers of ACE, who need ACE to sell the NFTs and items they create in AlterVerse, and can generate income from the AlterVerse Store or MetaServer Store.

3) Partners: Partners are promoters and expanders of ACE, who need ACE to collaborate and integrate with AlterVerse, and can generate income from partner stores or game portals.

4) Governors: Governors are managers and decision-makers of ACE, who need ACE to participate in the governance of AlterVerse DAO and can receive rewards from the income of AlterVerse DAO.

4. Preliminary Valuation

4.1. Core Questions

What stage of the business cycle is the project in? Is it in the mature stage or the early to middle stage of development?

According to the provided website content, the AlterVerse project appears to be in the early to middle stage of development. The project is still actively seeking partners and investors, and the company is promoting its upcoming games such as Sky City, Outpost, and REKT, which are still under development with release dates ranging from 2023 to 2024. Additionally, the company is actively promoting its unique features such as a no-code web3 game builder, conversational AI integration, and decentralized game servers. Overall, the project is in a growth stage and striving to establish its position in the gaming industry.

Does the project have a reliable competitive advantage? Where does this competitive advantage come from?

1) Technological Advantage: The AlterVerse project is developed using Unreal Engine 5, which is a leading game engine in the industry that can provide high-quality graphics and physics effects, allowing users to enjoy realistic and immersive gaming experiences. It also integrates GPT conversational artificial intelligence, enabling creators to build interactive, voice-compatible non-player characters (NPCs).

2) Innovation Advantage: The AlterVerse project is not just a game, but a metaverse composed of multiple interconnected worlds and communities. In the project, users can experience different roles, scenes, stories, and missions in different games, and can transition to other games or platforms through portals or MetaServer. It allows users to engage in various activities in virtual space, such as socializing, shopping, exploring, creating, and earning, and can prove their ownership and identity through NFTs and ACE.

3) Team Advantage: The team behind AlterVerse consists of experienced game and entertainment professionals who have been involved in well-known game projects such as God of War, Call of Duty, Titanfall, Overwatch, and Apex Legends. They have rich game development experience and innovation capabilities to create a high-quality and diverse metaverse platform.

4) Capital Advantage: The AlterVerse project has received investments and support from well-known institutions such as Binance Labs, Polygon Ventures, Ankr, EnjinStarter, and Baselayer Capital, all of which are leaders or participants in the metaverse field, providing technological support, market promotion, user traffic, and other advantages to the project.

What are the main variable factors in the operation of the project? Are these factors easy to quantify and measure?

1) User count: This is an important indicator for measuring the popularity and influence of the game. User count can be divided into active users (DAU, MAU, etc.), registered users, paying users, etc., reflecting the attractiveness, retention rate, conversion rate, etc. of the game.

2) User behavior: This is an important indicator for measuring the user experience and satisfaction of the game. User behavior can include game duration, game frequency, game content, social interaction, spending habits, etc., reflecting the user’s interest, participation, loyalty, etc. in the game.

3) Revenue and profit: This is an important indicator for measuring the economic benefits and sustainability of the game. Revenue and profit can include total revenue, average revenue (ARPU, ARPPU, etc.), costs, profit margin, etc., reflecting the game’s profitability, cost efficiency, competitiveness, etc.

4) Technical performance: This is an important indicator for measuring the technical level and stability of the game. Technical performance can include loading speed, latency, error rate, crash rate, etc., reflecting the game’s usability, reliability, scalability, etc.

These factors can all be quantified and measured, but it requires appropriate data collection and analysis tools, as well as clear goals and standards.

What is the management and governance of the project? What is the level of DAO?

AlterVerse has transitioned from early centralized operations to DAO governance. AlterVerse DAO is an innovative and collaborative DAO that is committed to building and developing the AlterVerse meta-universe game platform, as well as actively cooperating and integrating with other NFT games, crypto platforms, retail and e-commerce brands, DAOs, NFT artists, etc., to create an open, interconnected, and decentralized meta-universe experience platform.

AlterVerse has officially partnered with Community DAO, a DAO that fractionalizes real estate ownership. It will build a high-rise apartment building called CommTower in AlterVerse, allowing users to buy and rent virtual properties and enjoy various community services and activities. This collaboration can not only add more content and value to AlterVerse but also provide more exposure and influence to Community DAO.

4.2. Risk Analysis

Based on the provided information, the updated risk analysis of the AlterVerse project is as follows:

1) Risk of failure to launch the game: The project has not yet officially launched, and the development progress of the game may be affected by various factors such as technical challenges, team changes, insufficient funds, etc. These issues may result in the game not being launched on time or not being launched at all, which would lead to a loss of trust and support from users and investors. However, based on the official progress update, this possibility is relatively low.

2) Risk of underperformance and user insufficiency/loss: The success of the meta-universe platform relies heavily on user activity and retention. The two leading meta-universe projects, Decentraland and The Sandbox, currently have very poor daily active users. The user base of AlterVerse is still to be tested. Although the project has a grand vision and rich game content, if the quality and experience of the game do not meet users’ expectations, or if the gameplay and innovation of the game are not sufficient to attract users, users may lose interest and loyalty to the game, thus choosing other better meta-universe game platforms. This would result in user loss and reduced revenue.

3) Technical Risk: The project uses technologies such as Unreal Engine 5 and NFT, which may have some issues with instability, incompatibility, insecurity, and immaturity, such as system crashes, data loss, hacker attacks, code vulnerabilities, etc. These issues may affect the normal operation of the project and user experience.

4) Competition Risk: As a metaverse gaming platform, it faces competition from other metaverse gaming platforms such as Roblox, Epic Games, Decentraland, etc. These platforms may have more users, better content, stronger innovation, or more partners. These issues may affect the market share and revenue sources of the AlterVerse project.

5) Content Moderation: The game needs to manage user-generated content to ensure that it complies with rules and standards.

5. References

https://www.alterverse.com/ AlterVerse Official Website

https://bit.ly/AlterversePitchDeck Project Pitch Deck

https://bit.ly/AlterverseTokenUtility Project Token Utility

https://twitter.com/AlterVerse AlterVerse Official Twitter

https://newzoo.com/resources/blog/games-market-engagement-revenues-trends-2020-2023-gaming-report/ Newzoo Gaming Data

https://nonfungible.com/reports NFT-related Data

https://medium.com/alterverse Official Medium

https://enjin.io/showcase/alterverse Enjin Official Website

https://www.youtube.com/AlterVerse Official YouTube Channel

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