On June 19, 2022, AL-DRAGON, an Algorand NFT avatar project from Japan, began sales. Two collections (1/1 NFT of 112) are now sold out. This section provides an overview of the background leading up to AL-DRAGON and the project.
The purpose of this project originally started a year ago with the launch of the “Degital Planet”, a metaverse project. Degital Planet aimed to create an economic sphere by bridging the real world and digital assets in both directions, and was planning to build a platform to link the value of its digital assets to the real world and its real assets to the digital world.
【Why do we think of the Metaverse?】
“Degital Planet” is a coined word for digital and design.The purpose of this project originally started a year ago with the launch of the Degital Planet, a metaverse project. Degital Planet aimed to create an economic sphere by bridging the real world and digital assets in both directions, and planned to build a platform to link the value of digital assets to the real world and real assets to the digital world. The idea behind this project was to provide a tool to improve the inequality caused by the inflation and deflation caused by the paper money economy and the excessive logic of capitalism. As you know, since the start of capitalism, the exchange process of value for our sphere of life has been based on the process of “labor”, with “paper money” issued by financial institutions based on credit. We can also get the same compensation by buying and selling the property value of the item. However, it is undeniable that there is often an inequality in the exchange of value that cannot be easily resolved by effort in order to obtain a certain level of value. This can be seen in the disparity of incentives between workers and management in a centrally controlled society, the low wage compensation due to the lack of an infrastructure environment, and other possible issues. Our project team turned to blockchain and NFT for a process other than paper money that could distribute these flatly and provide value exchange. We concluded that if it is possible to bridge the two-way digital and real exchange process of value through these two means, we can transcend physical space barriers and create an economic sphere in which cryptographic assets are paid for in exchange for value, thus creating a metaverse. The next step is to create a metaverse.
【Why do we choose Algorand?】
During our conceptual phase, we selected a blockchain to serve as the foundation for our metaverse; in 2021, NFTs were being talked about and ethereum was spreading into the mainstream. We also have BTC and Ethereum in our crypto holdings. On the other hand, we faced the following challenges in investigating the possibilities and applications These are environmental issues and processing performance. We operated various chains such as $SOL, $AVA, $SAND, $MANA, $GALA, and $AVX and tested their uses. The conclusion was not satisfactory. In doing so we were impressed by the papers of Dr. Silvio Micali, who is serious about his philosophy and ideas, and the projects he is involved with in Algorand. While investigating Argoland we experienced its uses and NFT.
【Project Concept】
Once the blockchain base has been determined, the decision was made to conduct a demonstration experiment by phasing in the construction of the metaverse. The purpose is to create a successful model case for bridging real and digital assets, and to aim for a tool to disperse economic disparities by popularizing it as a national project, rather than a private project. Therefore, Georgia, which is not a member of Europe, was selected as the region where the project team is concentrated, and the demonstration experiment will proceed in the metaverse by reproducing the space in VR on a limited basis.In addition to the growth of the economic effect, we also aim to reproduce its beautiful landscape on VR so that visitors can enjoy its realistic sensation.
Next comes the concept of creating that economic zone. In the real world, the unit of ownership of those assets may be real estate, cars, clothes, food and drink, luxury goods, etc., but the unit of ownership will be one, as a matter of course. For example, in a condominium, it is one room. The real estate token loftyai, which was implemented last year on the Algoland blockchain, was a breakthrough in this area. We aim to apply this concept to a space where we can enjoy the division of ownership and value exchange of real assets both in our metaverse and in the real world.
【The Birth of AL-DRAGON】
Our next challenge was to promote the concept in order to get people to understand it. We interpreted this explanation of bridging assets and value exchange around the world as a financial product, tied to NFTs and on the metaverse, as very difficult to understand and especially difficult to be accepted at this stage in the Japanese community (including the promotion of Argoland). Therefore, we decided on an approach where avatars would play the role of bridging assets in order to give users a game-like experience, and by developing a story using dragon avatars and manga as part of the community marketing. That is the birth story of Aldragon.
Even if users are not aware of it, becoming a dragon holder will be the future creator of the economic sphere in the metaverse.Based on this concept, we gave a presentation on May 14 at a pre-event of the Argoland Japan Accelerator Program. We will continue to enhance the promotion of our project and make it a valuable experience for our users. Thank you for your continued support.AL-DRAGON now has the white paper available on our website as well and will update it as it becomes available.
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