BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home GAMING

Somnium Space Overview

BlockNews Team by BlockNews Team
August 31, 2022
in GAMING, GUIDES, NFT
Reading Time: 3 mins read
1
SHARES
18
VIEWS
Share on XShare in TelegramShare on Reddit

Somnium Space is an open social virtual reality world built on the Ethereum blockchain. They aim to create a metaverse where people can socialize, design, build or import objects, buy and sell in-game items and land plots and even monetize them.

The virtual world they are building will be experienced through PC VR headsets; currently, Somnium Space is compatible with all significant headsets such as Oculus, HTC, VIVE, HP, and Valve.

The founder and CEO are Artur Sychov, and the CFO is Tatsiana Sychov. The rest of the core team, with their roles ranging from Lean UI designers to community managers and blockchain developers, are also all doxxed.

Land Plots

Somnium Space is a collection of 5844 assets ranging from land to avatars and cosmetics that are bundled into one NFT set.

Inside this diverse collection, you will find two types of NFTs that represent “land” – there are Parcels, and there are Worlds. The main difference is that Parcels are located in the main world that all players share (and view the same setting), whereas Worlds function like “portals” to other realities where owners can customize their landscape. Parcels are also much more abundant. In total, there are:

  • 2472 M-sized parcels, that have a floor of 1.9 ETH
  • 1751 XL-sized parcels, that you can buy for 5 ETH
  • 777 S-sized parcels, which are available for 1.8 ETH even though they represent the minority of this collection.

Then we also have “Worlds,” which are one of the scarcest NFTs in the entire collection, and they come in three different sizes:

  • Small, which has a floor price of 5 ETH and can store 75MB of data.
  • Medium, which you can buy for 15 ETH and can store 200MB of data.
  • Extra Large, which is available for 18,5 ETH and can store 500MB of data

Token 

Somnium Space has its native ERC-20 token, ticker $CUBE, that is currently sitting just slightly above the $20 million market cap at a price of $1.8. It has a fixed supply of 100 million. Like many other metaverse-related tokens, its price peaked (around $12) in November 2021, when most projects of this sort had a historic run.

The token is essential to the game’s economy as all in-world transactions, land purchases, renting, and e-commerce can be conducted using $CUBE. Holders can monetize the land parcels they own and yield the token for the services they provide on their land.

The team has also stated that they have plans to add Polygon smart contracts to the token in the future and make it available on both chains.

Links

Website: https://www.somniumspace.com/
Twitter: https://twitter.com/somniumspace
Discord: https://discord.com/invite/somniumspace
Opensea: https://opensea.io/collection/somnium-space
Documentation: https://somniumspace.com/files/Somnium%20Space%20Economy%20Paper.pdf
Token: https://coinmarketcap.com/currencies/somnium-space-cubes/

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: metaverseNFTNFTsWeb3
TweetShareShare
BlockNews Team

BlockNews Team

DON'T MISS THESE! HOT OFF THE PRESS

How to Go From Zero to Your First Profitable Trade in Crypto (2025)
BITCOIN

How to Go From Zero to Your First Profitable Trade in Crypto (2025)

September 17, 2025
What is Arbitrum? Why ARB is an Underpriced Crypto Gem Hiding in Plain Sight
CRYPTO

What is Arbitrum? Why ARB is an Underpriced Crypto Gem Hiding in Plain Sight

September 17, 2025
Top 3 Crypto Gems You Need to Buy Before Q4 2025
CRYPTO

Top 3 Crypto Gems You Need to Buy Before Q4 2025

September 16, 2025
What is Verasity? Why VRA Could be the Most Undervalued Crypto of 2025
CRYPTO

What is Verasity? Why VRA Could be the Most Undervalued Crypto of 2025

September 16, 2025
Alex Becker Crashes PumpFun with STRSZN Token Launch: Here is What Happened
CRYPTO

Alex Becker Crashes PumpFun with STRSZN Token Launch: Here is What Happened

September 15, 2025
Top 5 Crypto Fundamentals Every Trader Needs Before the Next Bull Run
CRYPTO

Top 5 Crypto Fundamentals Every Trader Needs Before the Next Bull Run

September 12, 2025
Load More

Related News

Solana Price at Critical $250 Breakout Zone — Will Bulls Push Higher or Crash Back to $230?

Solana Price at Critical $250 Breakout Zone — Will Bulls Push Higher or Crash Back to $230?

September 18, 2025
Kraken Teams Up With Legion to Launch MiCA-Compliant Token Sales – Here’s What It Means for Crypto Investors

Kraken Teams Up With Legion to Launch MiCA-Compliant Token Sales – Here’s What It Means for Crypto Investors

September 18, 2025
XRP and Dogecoin ETFs Launch in U.S. – Here’s Why Investors Are Watching Closely

XRP and Dogecoin ETFs Launch in U.S. – Here’s Why Investors Are Watching Closely

September 18, 2025
Shibarium Hack: $4.1M Exploit Forces Bridge Shutdown – Here’s What You Need to Know

Shibarium Hack: $4.1M Exploit Forces Bridge Shutdown – Here’s What You Need to Know

September 18, 2025
Ripple’s RLUSD Explodes 10x as DBS, SBI & Templeton Unveil Tokenized Yield System – Here’s What It Means for Investors

Ripple’s RLUSD Explodes 10x as DBS, SBI & Templeton Unveil Tokenized Yield System – Here’s What It Means for Investors

September 18, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews