The New Metaverse Presented On CryptoWorldCon 2022 Visionary and disruptive holding company UMetaWorld presented by the founder Daniele Marinelli at CryptoWorldCon

By Helena Ross

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Daniele Marinelli

At CryptoWorldCon 2022, a conference that took place recently, Daniele Marinelli, the founder of DT Socialize Holding, took the stage to share some truly exciting ideas relating to his company's new project: UMetaWorld. He began his presentation with an analysis of current ways that "social' platforms syphon personal data, and how his projects have traditionally looked for ways to combat this, with messaging apps such as UUp allowing people to connect without sharing any of their personal data; a public key and a QR code is all that is needed. As suggested, these ideas contrast with the openness that we see in the quickly approaching era of metaverses, and Marinelli has assured us that using blockchain technology, UMetaWorld will maintain an emphasis on user privacy and data obfuscation techniques. So, let's take a look at DT Socialize's latest project in closer detail.

Based on some truly cutting-edge VR tech, UMetaWorld is effectively a duplicate of the actual world. The team have built a new environment, a whole getaway, where reality is plunged into the virtual, where the entire world is literally at your fingertips. For this, they use interactive augmented reality AR technology, which enables anybody with a smartphone to scan and import buildings, objects, and landscapes into UMetaWorld. Moreover, this takes place in seconds, rather than minutes or hours. The digital environment features many real-world activities that ensure consumers not only get the best virtual experience but also their most basic requirements met. Inside UMetaWorld, you can chat with other users and take part in genuine emotional experiences. Marinelli has assured us that if an experience exists in the real world, it'll be waiting for you in UMetaworld.

The project has set the goal of improving the virtual experience by rethinking how people navigate between the real and virtual worlds. Anywhere around the globe, there is a place where work and pleasure are one, and the possibility for learning is limitless. In the metaverse, the possibilities are endless - you'll be able to host and attend live performances, educational seminars, and even travel to places you've never visited before. UMetaWorld provided us with a beautiful cinematic trailer at the conference that demonstrates these features of the metaverse in detail.

Marinelli makes it clear that personalisation, creativity and NFTs are all intrinsic pillars of the project. After all, it's necessary to create your own unique avatar, a version of you that exists in the virtual environment, in order to engage in UMetaWorld activities. In UMetaWorld, it's not only possible to create your own virtual 3D avatar, but you'll be able to equip it with one-of-a-kind NFTs that can be traded on the platform's marketplace to earn some serious money in the real world. Moreover, you can purchase things in the metaverse, such as a pair of shoes, that will be available to your avatar in the form of an NFT, and will arrive at your real-world door so you can wear them personally. On the topic of trading, you'll be able to create, purchase, and sell your digital assets on a global scale. For example, users of UMetaWorld will be able to design their own digital apparel and art, all fully tradable within the virtual world.

During the cinematic trailer, we're greeted with a virtual character walking into a bank; indeed, UMetaWorld will be able to conduct digital financial transactions within the Metaverse, whether that relates to the payment of bills directly via a private banking system or shopping throughout the virtual world. UMetaWorld seems to have its own cryptocurrency, UMW. With it, you'll be able to conduct financial transactions in the Metaverse. This is your key to the digital bazaar of one-of-a-kind NFT and physical items being traded across the metaverse. There are many ways that UMW's NFTs may be generated and transformed into truly memorable metaverse-based experiences. All of this is tied up with a big red bow, in the sense that the metaverse is based on the Polygon Network and enables regular users to carry out transactions in a timely and reasonably-priced manner.

In its mission statement, UMetaWorld points out that they were founded as a fun and exciting way of introducing people to the undiscovered joys of the metaverse. However, its ultimate goal is to make life around the world better, improving connectivity and providing communities with access to services that they would otherwise be unable to obtain in the real world. Additionally, they have created a fund to which they will donate a portion of their profits. The fund itself will be focused on ocean rescue endeavours and tree planting.

UMetaWorld comprises five major branches:

  • The first is the main DAO, which anybody with UMW tokens may access. Holders may generate ideas for the DAO's governance as well as vote on how the organisation's funds are used;
  • The second is an elected body that distributes funds from the treasury and ensures that UMetaWorld's DAO is aligned decisively;
  • The DAO's principles, risk issues, and continuity are then discussed by a body established to foster conversation. It also has the authority to examine and halt some choices for the sake of the metaverse's safety;
  • Then, there's an elected committee that oversees any essential technical changes, as well as evaluates, updates, and implements suggested changes to UMW's software;
  • The Court is the last branch. The Court resolves any disputes and enables all token holders to reject unsavoury ideas and protect themselves from hacking.

Ideally, in just a few years, UMetaWorld will provide millions of individuals with the opportunity to live a "second life" of their choosing. But we're not just talking about your everyday Joe Bloggs here; it'll also provide various businesses with a platform on which they can grow and diversify. Marinelli has been quick to assure us that the bus of a new reality is shortly departing – so make sure you're on it!

Note: Investment in cryptocurrency and crypto assets is subject to financial risk and readers should do their own due diligence. Entrepreneur Media does not endorse any such investment.
Wavy Line

Helena Ross is a crypto, financial journalist based in London. She is a believer in decentralized finance and supporter of innovations.  

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