By Petrache Ionut Jun 5, 2022
The MGH DAO is the center for Open Metaverse Experiences, focusing on the development of metaverse infrastructure and tools as well as the acquisition of metaverse assets.
Development and monetization of a large portfolio of metaverse assets (primarily LANDs) from different metaverses, including The Sandbox, Decentraland, and Somnium Space, which the MGH community governs and subsequently gains revenue through, for example, GameFi applications, advertisements, event venues, art galleries, and cultural hubs.
Restoring ownership to users and hence to MGH DAO members is the main goal of the protocol while creating and aggregating simple tools to aid users in seamlessly navigating the metaverse.
The $MGH Token
The MGH token aims to be deflationary, which means that the supply of tokens will occasionally be reduced, providing an embedded sense of scarcity. This is accomplished by incorporating cutting-edge buyback and burn mechanisms into the token flow.
The MGH token grants access to a wide range of resources, goods, and services provided by the MGH DAO to its holders. It is used to exchange value and pay fees for using some of the MGH's dApp universe's services.
Some of the benefits include:
- Take part in the governance of the MGH DAO LANDs and metaverse assets
- Unlocking premium features in the LAND Valuation Interface (B2C)
- Granting Access to the LAND flipping bot
- Qualifying for unique Metaverse NFT airdrops
- Access to MGH gamified experiences in blue-chip metaverses
- Getting custom access to MGH's Metaverse Tools (B2B)
You are a member of the MGH DAO and qualified to take part in its governance if you own MGH tokens. Voting and proposals submitted on Snapshot are open to your participation.
Since its establishment, the MGH DAO has worked to develop tools that will enable its users to move about the open metaverse with ease. Establishing a decentralized state through the creation of numerous projects and experiences in the most pertinent virtual worlds is one of the key objectives of the DAO.
Finding reasonably priced lots was one among the main challenges MGH had when purchasing the LANDs required to realize its mission. The expertise in AI and algorithmic trading of its collaborator, ITRM, allowed the DAO to create a valuation model that accurately values LAND parcels.
The Opensea's and Etherscan's APIs are used to retrieve all of the historical LAND sales from various metaverses. The information is used to determine the historical daily median of sales on any particular day. The correctness of the model is evaluated using this statistical metric as a standard.
The prices are input to a machine learning algorithm when all the data has been collected, and the algorithm is then trained using all the previous price changes for the item in question. Prediction of the daily median of LAND sales on t+1 is made possible by the training process. The valuation of each individual lot is based on the daily median.
There are some parallels between the real estate market and the virtual real estate market. One of them is that prices differ according to the location of a property. Because of this, the MGH Team devised a neighborhood weighting technique, which greatly improved the model's accuracy. The algorithm evaluates the historical prices for the nearby LANDs and assigns them a weight based on how frequently the nearby LANDs have sold in the past. A LAND's weight and influence on the LAND being reviewed increase with how much it has been sold.
By training neural networks with various neighbor combinations, the weighting process is improved. To test combinations between 1 and 34, the AI was thoroughly trained. After several training cycles, it was shown that 11 neighbors worked best to minimize the median average percentage error (MAPE).
You can read more about this HERE.
The Land Valuation tool interface is set to release soon.
The MGH Developers are actively working to develop tools such as the Decentraland SDK editor for which they received a 250k USD Grant to keep improving and releasing more updates.
DCL-Edit was developed to make it easier for you to work with the Decentraland SDK. Objects can be placed and moved in DCL-Edit much like in any other cutting-edge gaming engine. A scene's modifications take effect right away and can be tested on your local server right away. Identifiers can be assigned to entities so that they can be quickly referred to in your code. This spares you from performing tedious, time-consuming operations that were required in order to perfect your game entities.
(link to video https://dcl-edit.com/wp-content/uploads/2021/11/CodeDemo01.mp4 embed)
The first Metaverse Pricing Data Oracle has been developed and a Node was deployed in order to enable the NFT price oracles, which will give dApps and developers more precise information for pricing NFTs on-chain, the MetaGameHub Chainlink node serves as the right infrastructure. The node offers real-time pricing information on NFTs connected to the metaverse. The Sandbox and Decentraland's 1x1 parcels' valuations can currently be retrieved by this Pricing tool.
The MetaGameHub Team is heavily focusing their efforts on metaverse development. They have a team of over 15 Game Developers, Designers and 3D Modelers that create metaverse experiences on Decentraland, Sandbox and the Somnium Space.
Here you can see how they are in the process of testing the Fire Physics.
An example of 3D Modeling of a character in Blender.
Some Decentraland Interiors designed by the MGH Team.
MetaGameHub has been working on the MGH Beachland piece of land within The Sandbox where players will be able to visit multiple locations and participate in quests while exploring the zones. The feel and look of these intertwined Land Spaces is inspired by Los Angeles, featuring a baseball court, a beach, a west side villa, east side highrises and a party club underground. As a fun fact, Snoop Dogg owns some Land right near MetaGameHubs Land so he might even pay a visit and participate in events in the future.
The beach looks cool and will feature various activities.
The ‘cherry on top’ of the cake is the MGH Spaceship that is packed with custom designed MGH Assets and will overlook the beachland. It will be the final destination in the questline, giving the visitor a final contact point with the MetaGameHub DAO.
We think MetaGameHub is a huge ambitious project that will keep innovating the Land and NFT GameFI space for years to come.
MGHDAO is currently organizing a Zero-emission Decentraland Event
The era of the zero-emission Metaverse is beginning with this milestone event. The event attracts a sizable community of web3 enthusiasts from the fields of sustainability, fashion, power, and mobility and is open to everyone. The MGH Team is very energy conscious and is joining the fight to improve sustainability across the metaverse and blockchain.
Website - https://www.metagamehub.io/
Twitter - https://twitter.com/MGH_DAO
Discord - https://discord.gg/8WJVMDXZwH
Docs – https://docs.metagamehub.io/