In recent years, the concept of a metaverse has quickly evolved from a niche idea to a significant player in the digital world. Projects like The Sandbox (SAND) and Decentraland (MANA) have garnered considerable attention, promising virtual realities where users can interact, create, and own digital assets. With the metaverse market projected to reach a value of US$74.4bn in 2024, many envision a future reminiscent of “Ready Player One”. However, the reality is that we are still far from achieving that level of sophistication.
Despite the soaring land values in these digital realms, which have increased from $50 to over $100,000 or even millions, skepticism abounds. Critics argue that the metaverse and cryptocurrencies, in general, are scams. The meteoric rise of cryptocurrencies and blockchain technology has indeed led to a flood of new projects, some of which have failed to deliver on their promises, fueling this skepticism.
This article examines why people might hold such views and what it means for EarthMeta, a new entrant in this market. We conducted a thorough investigation of EarthMeta by engaging with their community, and analyzing their project details.
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Whitepaper and technical documentation
EarthMeta has two whitepapers (one for the token, another one for the project) available for download, detailing their mission, vision, and technical framework. After reading the entire whitepaper we can say that it explains the project and its vision simply and in detail, making it accessible even to those unfamiliar with NFTs, metaverses, and cryptocurrency.
In short, this Metaverse project initially duplicates the earth geo information. Once a city is purchased, users can subdivide it into various NFT assets such as landmarks, monuments, and buildings. These assets can then be traded on EarthMeta’s marketplace. Additionally, after making a profit from the sale, the original owner earns 1% transaction fees each time an asset is resold within their city, ensuring a continuous income stream (e.g., if you own New York, you can sell the Statue of Liberty and earn 1% every time it is resold). If you acquire more or strategically important cities in a country, you can become president and earn 0.5% of all transactions made in that country.
Since all promises come with clear explanations on that, there are no red flags. Unlike scams that simply claim, “You will win!” without explaining how, EarthMeta transparently details the 1% and 0.5% earnings mechanics and from the mechanism that can guarantee that. There is no magic.
The staking
It is always important to examine the presale promises and see if the mechanisms behind are economically healthy or they are just promises made to catch you. A promise of “+186% APY STAKING” for exemple, could be a red flag, as high returns are often hard to get. However, when we dig deeper in this case, the 186% APY are guaranteed only for the 10% tokens in the tokenomics and they are provisioned in a 13% of “staking peel”. This high percentage is only available to those participating during the first stages of the presale, and the percentage will go lower in the next stages until it’s null at the end of the presale. Meaning only a few people will have access to it which makes it sustainable for the participants and the project.
The tokenomics, outlined below, make everything clear:
- 10% of the tokens were allocated to the presale.
- 13% was allocated to staking, which fully covers the promised staking returns of the presale and gives value to each token when staked over time.
Furthermore, the largest percentage is allocated to development, which makes sense in a serious project that requires significant development and innovation. In contrast, scam projects often have poorly designed tokenomics (e.g., 60% or more allocated to the presale, leading to dumps) or allocate over 40% to marketing, mistakenly equating marketing with development.
The bonus
The presale promised up to a 30% bonus on token purchases (this was on stage 1), which could raise concerns about sustainability. However, a detailed examination shows that these bonuses are well-integrated into the overall tokenomics of the project.
The bonus percentages vary across different stages of the presale, with the highest bonus of 30% available at the initial stage and gradually decreasing to 0% by the final stage. This staged approach incentivizes early participation while maintaining a balance in token distribution.
We made the calculations to verify the bonus structure. The total amount of tokens allocated for the presale, including the bonuses, aligns with the 10% allocation specified in the tokenomics. This planning ensures that the presale bonuses are fully covered, maintaining the integrity of the project’s financial model.
This approach demonstrates a thoughtful and calculated strategy to attract initial investments without compromising the project’s financial health.
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Timing and Hardcap of the presale.
While scam projects typically lack clear timelines or hard caps, aiming to raise as much as possible and as long as possible, legitimate projects have clear timelines and hard caps. On the FAQ of their website, it is clear that EarthMeta’s presale ends either when the hard cap is reached or by December at the latest – It is also stated on their Token Roadmap.
A notable sign of legitimacy is their plan to launch the platform before the presale ends, a rare move in the crypto space. This demonstrates that EarthMeta has probably a working product and isn’t just selling a dream. For potential big investors, this early launch is an opportunity to see the platform in action before committing more funds, reducing the risk associated with investing in a purely speculative venture. This approach differentiates EarthMeta from many other projects in the space, which often delay product releases until after their token sales.
Transparency of the team behind a crypto project is the most important in assessing its legitimacy. Scams typically have hidden teams to avoid accountability, for them to be able to delete their website, the social media accounts and disappear. And since it’s crypto, nobody will be able to find them.
EarthMeta’s team is fully doxxed, with the founder having passed KYC (Know Your Customer) verification with AssureDefi, a reputable KYC aggregator. This transparency reduces the risk of the project being a scam, as the founders’ reputations are at stake. We also tried to find if he or the team was linked to other known scams, but nothing was found.
The team’s transparency extends beyond just revealing their identities. Their backgrounds, expertise, and previous experiences are available when you look for them on LinkedIn, allowing everyone to gauge their qualifications and competence. This level of openness is essential for building trust among the community, as it demonstrates that the team is not only serious about their project but also accountable for its outcomes.
Furthermore, the team composition is an important factor to assess on what the project is relying. With over 60% involved in development, indicating strong technological capabilities. The involvement of a significant portion of the team in development is a positive indicator of the project’s focus on building a robust platform. A well-balanced team with the right mix of skills and expertise is crucial for the successful execution of any complex project such as the one of EarthMeta. By prioritizing development over other areas, EarthMeta showcases its commitment to delivering a high-quality product.
Now that we have verified the team, let’s also verify their advisors. Many scam projects either lack advisors or feature the same advisors, who are often paid and easily recognizable to those familiar with the crypto presale world. In contrast, EarthMeta’s advisors appear to have strong market expertise and no prior involvement with questionable projects.
For instance, one of their advisors is the CEO of Brickken, which successfully conducted a presale raising over $2 million. His project is backed by numerous companies, and he is a reputable professor of tokenization who frequently speaks at events. Edwin Mata’s experience in blockchain development and the crypto market will likely be valuable to EarthMeta.
Another advisor is the CEO and founder of ITAK, an agency that collaborates with renowned brands like LVMH, Richemont, and PUIG groups. This connection indicates that EarthMeta likely has a real plan to work with companies and brands, as outlined in their roadmap. It also suggests that they are already establishing contacts within this industry.
After careful check, the project passed its KYC verification with AssureDefi, a reputable KYC aggregator. This transparency significantly reduces the risk of the project being a scam.
Also, they passed their smart contract audit successfully as well, everything seems good and verified; so they won’t have security problems afterwards.
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History and background check of the project
When it comes to history, a scam NEVER EVER had a history. Why ? Because it comes from nowhere one day and disappears the other day.
For EarthMeta, the history of the project, verified using Web Archive, demonstrates development over several years. Additionally, tweets from 2022 from the founders reveal that the founders and the team behind have been actively working on the project for at least two years.
When scam projects don’t have a proper company or don’t put this information public, when we look at the company registrations in Hong Kong, we quickly realize that the company EarthMeta is there and that it does indeed exist. Additionally, from what we know, the card payment verification adds an extra layer of credibility as payment service providers perform thorough checks on the legitimacy of the business.
In short : the use of Web Archive to verify the project’s timeline provides an objective record of its development, indicating a sustained effort rather than a hurried launch. The active social media presence from as early as 2022 further supports the claim that EarthMeta is a well-thought-out project with a clear vision and consistent progress.
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Roadmap and scope of achievement
In many scam projects, the roadmap typically includes vague milestones like: Presale, Listing, Marketing, and “To the moon.” These lack clear definition and coherence. There are no specific dates or detailed plans, resulting in a roadmap that lacks consistency and credibility.
A realistic and achievable roadmap is essential for any legitimate project. EarthMeta’s roadmap is clear, with well-defined milestones and achievable deadlines. The roadmap avoids over-promising and under-delivering, a common problem in many scam projects. Each step is strategically planned, showing that the team understands the technical and business challenges ahead.
We can see that it provides a detailed overview of the project’s development timeline, outlining key milestones and their expected completion dates. This transparency allows everyone to track the project’s progress and evaluate its adherence to its stated goals. The clear delineation of tasks and deadlines demonstrates a structured approach to development, which is crucial for the successful execution of complex projects.
Note that the roadmap also reflects the team’s understanding of the various challenges associated with building a metaverse platform. By setting realistic goals and avoiding overly ambitious promises, in our point of view, EarthMeta establishes itself as a credible project with a focus on achievable results. This level of detail and foresight is often lacking in scam projects, which tend to promise rapid, unrealistic returns without a clear plan for achieving them.
Conclusion
EarthMeta presents a promising vision for the future of metaverse platforms. With a detailed and accessible whitepaper, transparent tokenomics, a clear roadmap, and an active community, the project shows many signs of legitimacy. The decision to launch the platform before the end of the presale is a strategic move that showcases the project’s readiness and capability. The fully doxxed team, with a significant portion dedicated to development, further adds to the project’s credibility.
The bonus structure, with up to 30% bonuses, is correctly integrated within the tokenomics, ensuring sustainability and attracting early users without compromising long-term value. Potential users can feel reassured by the thorough planning and transparency of the project.
However, users must consider the inherent risks associated with the volatile crypto market, regulatory uncertainties, and technological challenges. Conducting thorough due diligence and staying informed about the project’s progress and market developments is crucial.
In summary, EarthMeta appears to be a well-structured and transparent project with a clear vision and a committed team. While it faces several challenges, its strategic approach and community engagement provide a solid foundation for potential success in the metaverse space.
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