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MetaPlanetary Launches Decentralized Metaverse Platform … – EIN News

MetaPlanetary launches decentralized metaverse platform for secure digital identity and financial transactions using BNB Liquidity Hub and Soul Bound Tokens

MetaPlanetary (NASDAQ:MPY)

MetaPlanetary is a game changer in the digital world, providing a decentralized platform for secure digital identity and financial transactions”

— MetaPlanetary

ABU DHABI, EMIRATES, January 19, 2023 /EINPresswire.com/ — Metaplanetary is a decentralized platform that aims to create a decentralized metaverse, striking a balance between the traditional financial systems with their many hindrances and the native crypto solutions that typically lack necessary KYC and AML measurements. It utilizes a dual approach for digital identities, represented by a Soul Bound Token (SBT) that tenants a decentralized ledger (aka blockchain) and following and contributing to the open standard set forth by W3C Decentralized Identifier Working Group and the Decentralized Identity Foundation (DIF). It also has a decentralized governance structure facilitated by the indigenous token named META PLANETARY.

The platform will be built on Binance Smart Chain and Ethereum. It will have inherent support for digital assets from global crypto markets and will be EVM-compatible, allowing the merge between legacy systems with the smart contracts incorporating decentralized finance business logic on the blockchains.

One of the main features of Metaplanetary is the use of a Soul Bound Token (SBT) that tenants a decentralized ledger. SBTs are issued and bound to unique blockchain accounts or wallets associated with specific individuals. This ensures that the digital identity of users is secure and cannot be tampered with.

The platform will also provide a Consolidated ID (CID) for users, which amalgamates all of their existing Web 2.0-based IDs. This allows for a streamlined and secure way of managing digital identities. In addition, the platform will have a Currency Auto-Conversion functionality, which allows users to pay for services and goods in META PLANETARY’s native currency.

The Metaplanetary team is composed of seasoned entrepreneurs and engineers who have held various leadership positions in their respective fields. They have set the project’s strategy and are in charge of product development, user experience, business development, editorial, content creation and customer operations.

The Metaplanetary token sale will be divided into four stages and will run consecutively. Users who partake in the ICO in the earliest stages will receive time-fractioned percentages once the ICO stages are completed. MPY Token will go live on the Binance Smart Chain Blockchain and the Presale Tokens will be unlocked.

Metaplanetary aims to create a decentralized metaverse that is accessible to everyone and not controlled by a select few big tech companies. It is built on a decentralized ledger technology and has a decentralized governance structure. It offers a unique approach to digital identities through the use of Soul Bound Tokens and a Consolidated ID. The platform will also provide a wide range of features such as a mobile user-agent application, standard KYC procedure, Currency Auto-Conversion, and an Omni Bridge that connects all platforms together seamlessly. The team behind Metaplanetary is composed of experienced entrepreneurs and engineers, and the project is currently in its ICO stage.

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