UFORIKA, a next-gen metaverse platform

UFORIKA

Next-gen metaverse platform

About the client

The client is an ambitious startup inspired by the metaverse ecosystem and the multiple opportunities in the 3D-based universe it offers to users. Their goal is to become a key location for communities and individuals to enjoy social networking, entertainment events, and play-to-earn opportunities.

Details

  • Website:https://www.uforika.io
  • Location:UK
  • Date:2021
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About the client

The client is an ambitious startup inspired by the metaverse ecosystem and the multiple opportunities in the 3D-based universe it offers to users. Their goal is to become a key location for communities and individuals to enjoy social networking, entertainment events, and play-to-earn opportunities. Details Website: https://www.uforika.io Location: UK Date: 2021

PixelPlex helped the client finalize their project vision and establish the technical architecture for their metaverse platform comprising multiple cities with different experiences as well as assisted with project development.

Team

  • Blockchain developer2
  • Blockchain consultant3
  • Backend developer
  • Frontend developer
  • QA engineer
  • Business analyst
  • UI/UX designer

Business opportunity

The client saw strong potential in the metaverse concept since it introduces users to the blockchain, decentralized systems, and NFTs, while incorporating gamification and entertainment. Moreover, the metaverse opens up a lot of revenue streams such as selling merchandise, setting up hubs for playing VR games, token trading, and advertisement placement.

  • Native gaming loop
  • Educational gamification and interaction
  • Business and retail advertising
  • Social networking
  • Entertainment and events
  • Play-to-earn opportunities

With only a rough idea for the project, the client needed help finalizing their project vision, analyzing the market competitors, specifying functionality, and creating platform architecture.

After evaluating several vendors, the client entrusted their project to PixelPlex due to our solid expertise in blockchain and metaverse development.

Project goals

  • 1
    Finalize solution idea and define project scope
  • 2
    Develop an efficient token economy model
  • 3
    Deliver consultancy on implementation options
  • 4
    Create platform architecture and define suitable tech stack
  • 5
    Provide development services

Work done

  • A set of discovery sessions & idea finalization
  • Token economy development
  • Features specification
  • Tech vision implementation, including tech stack selection and microservices architecture design
  • Polygon smart contract development
  • Crypto wallet implementation
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Solution

The PixelPlex team helped the client establish the project vision and scope for UFORIKA — a decentralized metaverse presented as a web application.The UFORIKA metaverse will comprise 7 cities, each with a specific focus, including a battle stadium, residential area, fitness center, entertainment activities, and an educational area.Our team established the key features for the solution’s MVP and subsequent releases, and finalized the project's tech vision. We also helped the client develop smart contracts and a UFORIKA wallet.

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Details

Discovery session & market research

To finalize the project vision and map out relevant features, our consulting team performed a thorough discovery session during which we:

  • Analyzed the client’s requirements and business needs
  • Performed market research to identify the current state of the metaverse market, evaluate public expectations, and analyze key challenges
  • Performed competitor analysis to define their weak and strong points and identify best practices

Suggestions & improvements

Based on the results of the discovery session, our technology and business consultants provided the client with recommendations on establishing a solid project vision.

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Client’s initial idea

Start with the development of the metaverse-based game right away.

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PixelPlex recommendations

Follow an incremental approach.

Start with the development and audit of smart contracts and the creation of solid documentation.

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Reasons behind

This will help minimize risks and distinguish the project from fake initiatives and increase trust in it. It will also help build a strong community around the project.

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Client’s initial idea

Use the project’s native tokens —$FORA — as a part of their monetization strategy.

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PixelPlex recommendations

Create a $FORA contract and implement a crypto wallet in advance.

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Reasons behind

This way the client will be able to efficiently organize presale rounds by enabling users to purchase $FORA tokens through a crypto wallet.

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Client’s initial idea

Implement NFT staking to enable users to generate passive income while increasing the token price as more users buy $FORA.

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PixelPlex recommendations

Design the staking strategy with fixed and dynamic annual percentage rates, withdrawal fees, and payout rules.

Add new strategies, such as adding staking rewards particular to each city in UFORIKA, implementing a DAO pool with participation in DAO granted to real estate token holders, etc.

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Reasons behind

The developed strategies will help incentivize users and maintain their interest in the project while creating additional revenue streams for the client.

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Token economy & monetization strategy development

One of the client’s requirements was the creation of the platform’s native token and token economy. Therefore, our team prepared a token vesting and allocation strategy that included:

  • The number of $FORA tokens and their price
  • $FORA initial release in percentage
  • Token distribution percentage
  • Monthly token release
  • Scenarios for how users can buy tokens (seed, private and public sales, etc.)

Token use cases

Our blockchain consultants came up with efficient token use cases and monetization methods for UFORIKA. These included:

Functionality & scope specification

Together with the client, we elaborated on each feature of the platform and defined the functionality that would be a part of the MVP and subsequent releases.

Some of the key features of the project are:

  • Real estate plots. Allow users to construct buildings on their plots and sell them on a marketplace. Our team has also recommended that the client add some more use cases to motivate users and create new monetization opportunities. These include renting buildings/plots to other users, creating their own mini-games using the metaverse tools, and more.
  • IKA characters. IKAs will be used primarily in the game battles. The client planned to use IKAs as one of the monetization scenarios by allowing users to purchase them via the marketplace. Our team helped the client extend this idea by offering new revenue opportunities such as differentiating IKAs by their rarity (which would consequently affect their pricing) and selling different IKAs’ attributes (e.g., breathing fire) on the marketplace.
  • Crypto wallet. Developed by our team, it allows users to access UFORIKA and purchase platform tokens, see transaction history, access information about wallet rules and regulations, send and receive tokens, and view the list of purchased NFTs.
  • NFT marketplace. A place where users can purchase and trade NFTs, including plots, game characters such as IKAs, or game items such as hoverboards. Planned to be delivered by our team as a part of the next project phase.
  • Admin panel. Provides user and NFT marketplace management functionality and shows client transaction history and key stats, including user activity and NFT item analysis.

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Tech vision implementation

The client entrusted the entire tech vision implementation to our team, including choosing the optimal blockchain, designing platform architecture, and mapping out tech stack and third-party integrations.

Blockchain selection

Our team performed an analysis of more than ten of the most popular blockchains on the market, considering criteria such as consensus mechanism, transaction speed and fees, NFT minting costs, etc.

Then we mapped the client’s requirements to our findings, ultimately choosing the Polygon blockchain for implementing the solution. Some of the key reasons for selecting Polygon included:

  • Polygon is faster, cheaper, and more secure compared to many available blockchains.
  • Can scale quickly and offers staking rewards.
  • Compatible with ETH, one of the most popular cryptocurrencies among users.
  • Has a fully customizable tech stack.
  • 60% of today’s NFT and blockchain-based web3 games (Decentraland, The Sandbox, etc.) have chosen Polygon as their preferred scaling solution.

Microservices architecture

Based on the required functionality and future scalability plans, our tech specialists suggested adopting a microservices development approach.

As a result, the components of the system will be developed as independent modules that have certain limited functionality and external interfaces for communicating with each other.

The future platform will have 4 main levels:

  • Client level. Encompasses a web application, landing page, and admin panel, and is accessible to users.
  • Backend level. Comprises the business logic of the application and includes databases and services for organizing communication between microservices.
  • Third-party services level. Includes providers of connections to the blockchain, external user wallets, and an analytics system.
  • Monitoring level. Responsible for analyzing statistics from the environment on which the application backend is running; analyzing the availability of external interfaces, microservices health checks, etc.

Tech stack & third-party integrations

Our tech architects have compiled a list of technologies suitable for solution implementation, including:

Our team has also offered third-party solutions required for the project’s development, such as

  • MetaMask as a reliable and user-friendly crypto wallet and gateway to blockchain solutions
  • tor.us as a secure custodial solution for traders
  • Shufti Pro, Socure, Jumio, Init21, and IdentityMind as recommended KYC providers the client can choose from

Smart contract development

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The audit confirmed that the smart contracts codebase is straightforward and conforms to the latest security guidelines.

Project features

  • Multiple metaverse cities with a specific focus (game battles, education, fitness, etc.)

  • Engage-to-earn mechanics

  • Real estate plots providing users with different revenue opportunities

  • NFT marketplace where users can buy plots, animal-like creatures for battles, and other game attributes

  • Crypto wallet for seamless transactions and token trades

Contact us

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