Pax.world is a metaverse project built on top of the Ethereum blockchain where owners of land NFT hold a real stake in shaping the future of the community around them by crafting their customized version of the virtual world they own.
The team is committed to connectivity and inclusion, which is why they partner with the world’s top architects and other industry leaders. They are trying to create an environment where users actively develop the land as a space that has genuine community utility, attracts real community engagement, and improves lives.
Pax.world was given the title of the “metaverse of the year” in 2021 and is once again on the list of “top 5 metaverses” in 2022.
The team, which is fully doxxed, comes from Switzerland. The Founder and CTO of pax.world are Frank Fitzgerald, and the CEO is Matthias Wyss. There is also Brian McClaferty (Head of Marketing), Florian Krueger (Chief Commercial Officer), Sara Popov (Art Lead), Tijana Trifunović (Animator), and Gaby K.Slezak (CCSO). Besides the core team, more than 52 other people are actively working on this project.
The pax.world metaverse is being built using the Unity 3D game engine. It has face-scanning features to create 3D life-like avatars. Users can experience it through desktop, VR, and mobile devices with zoom-style video and audio streaming capabilities and high-definition video and audio broadcasting for massive virtual events.
They also have an extensive list of partners and backers, which can be viewed on their official website. The platform’s public launch is expected sometime in Q4 of 2022, along with the DAO.
In total, 1180 land plots are currently available on OpenSea with a floor of 0.97 ETH. The land sale was initially made in April of 2022, and the NFTs can now be obtained on secondary markets.
Holders of these land plots will be able to design them as they see fit. This metaverse is not as gamified as others we have reviewed in the series (for example, Illuvium, Ember Sword, or Arcade Land) but is tailored more towards VCs, project leaders, and other people in business. It is often referred to as a “mature metaverse” where holders will be able to:
- Host concerts with live shows
- Design educational institutions
- Create team-building events for remote workers
- Use the land plots for HD video conferencing
- Display and auction high-value NFTs
- Build academic centers for an interactive learning experience
- Immerse themselves in gaming centers with a variety of activities
- Set up virtual business headquarters
Once the metaverse is fully operable, it will use its native utility token, $PAXW, as the primary means of transactions within the metaverse and act as a governance token for the DAO, where holders will have voting rights to the network’s development.
PAXW is an ERC-20 token initially sold for 0.049 dollars per token on the 24th of February, 2022. The sale lasted until April, and upon completion, the team managed to raise 5.8 million dollars through token sales.
They managed to raise 5.8 million in the presale of the PAXW tokens. Presale in march, First auction for land plots was done in April of 2022.
The total supply is 1.000.000.000, and the brief tokenomics breakdown is as follows:
- 50% allocated to the development of technology and product,
- 30% for marketing,
- 10% reserved for operations and
- 10% given to exchanges for liquidity and listings
The metaverse was designed to be user-friendly and thoughtfully built, requiring low-tech capabilities to connect to most features.
One thing that is a bit concerning is an insufficient number of unique wallets in possession of these NFT land plots – at only around 14%.
But on the other hand, this collection is a bit on the small side when it comes to metaverse land NFTs, with only 1.180 land plots. For reference, it is not unreasonable to have more than 20.000 NFTs in the collection when it comes to land NFTs, with some larger ones containing as many as 100.000 plots – most notably Otherside Deeds, Decentraland, and Sandbox. It will be interesting to see how such a small amount affects the floor price in the future.