Industry Comparisons

Taking a look at other PFP, Metaverse, and DeFi Projects

The VOX project is one that is ambitious, with multiple proposed utility types and ways that the community will be able to engage with the offering. Here we want to outline a few projects that operate in similar spaces to that of what VOX is striving for to give some additional context for those new to the Web3 and NFT space.

Bored Ape Yacht Club

Bored Ape Yacht Club (BAYC) is a collection of 10,000 unique digital collectibles living on the Ethereum blockchain. Each Bored Ape is a non-fungible token (NFT) that features a cartoon ape with a different combination of over 170 traits. BAYC was launched by Yuga Labs in April 2021 for around $200 each, but now they sell for over $400,000 on average. Owning a Bored Ape NFT grants access to members-only benefits, such as a collaborative graffiti board called THE BATHROOM and a metaverse where apes can socialize and play games. BAYC is one of the most popular and influential NFT projects in the industry, with many celebrities and content creators supporting the project. There has been increasingly new utility supposedly being brought to these NFTs, such as a “temple run” style game most recently, that are aiming to give the collection value outside of so-called digital art.

DeFi

NFTs, or non-fungible tokens, are digital certificates of ownership that can be used to represent unique and scarce assets on the blockchain. One of the emerging applications of NFTs is in decentralized finance (DeFi) gaming, where players can own, trade, and earn from their in-game items and characters. DeFi gaming combines the features of traditional video games with the benefits of decentralized protocols, such as transparency, security, and interoperability. Some examples of DeFi games that use NFTs are Axie Infinity, a Pokémon-style game where players can breed and battle creatures called Axies; KokoSwap, a platform where players can collect and customize avatars; and Symbiogenesis, a sci-fi game where players can evolve and mutate their own lifeforms. NFTs in DeFi gaming enable players to have true ownership and control over their digital assets, as well as create new opportunities for monetization and participation in the gaming ecosystem.

Decentraland

Decentraland is a virtual world where users can create, explore and trade digital assets. It is the first fully decentralized world, meaning that it is controlled by its users through a DAO (decentralized autonomous organization) that owns the most important smart contracts and assets of Decentraland. Users can buy and sell parcels of land (called LAND) in Decentraland, as well as estates, avatar wearables and names. They can also build scenes, artworks, games and applications on their LAND using a simple Builder tool or a more advanced SDK. Decentraland hosts various events, competitions and activities for its users to enjoy and participate in. Some examples are Metaverse ReFi Week, Metaverse Fashion Week, live music shows and art exhibitions. Decentraland is a platform for creativity, socialization and innovation in the digital realm.