In October of 2021, our perspective of reality shifted when Mark Zuckerberg announced his vision for the mind-bending technology known as the Metaverse. However, in the same month, another project rose from the shadows with plans to make the then-newly bizarre Metaverse – and various other decentralized projects – a future reality. Not by itself, however – all in one. This project is known as Byepix, and the team is developing the first MetaFi project in the crypto market. Let us dive into what this all means.
What is MetaFi?
While the concept is new, do not worry. With the principles in place, it is relatively simple to understand. MetaFi is metadata and decentralized finance (also known as DeFi). Metadata sounds complicated, but it is all around us whether you notice it or not. While various articles define it as data about data, this does not mean much to the person that is not adept at data science. So, a better definition is this:
A piece of information that provides context to something we wish to understand.
For example, a library would hold a vast amount of metadata. Whenever you look for a book, you would use the genres of each row to determine the type of book – metadata. Furthermore, if you wanted a specific author of that genre, you would look at the alphabetical last name about that author of that genre – metadata. Not too complicated, right?
Then we have decentralized finance, otherwise known as DeFi. As you most likely know, DeFi is the distribution of financial ledgers to anyone in the world that has a computer and internet connection, making it open, transparent, and amendable. As a result, this eliminates the need for a central authority – for example, a bank or corporation that regulates your financial assets.
When we put the two together – Metadata and DeFi – we get MetaFi. According to Binance, MetaFi is “a concept that provides advanced and sophisticated DeFi Infra to all the different types of projects such as metaverse, GameFi, SocialFi, Web3, and NFTs and puts them under one umbrella – MetaFi.”
Alright! We have a simple understanding of MetaFi, as well as DeFi. Now, we can navigate to what Byepix is. Let us begin!
What is Byepix?
The project’s purpose is one of idealism and child-like inspiration, being “for the benefit and comfort of humanity” because we aim “to develop applications that will carry these miracles beyond the imagination soon.”
The vision is “to produce sectoral solutions by contributing to the development of Metaverse with the virtual star system it will create using Virtual Reality and Augmented Reality.” Who does not love the beauty of the universe and the prospect of becoming a spacefaring civilization?
Because it aims to use these technologies, you will be able to explore the nine planets of the star system. These nine planets were discovered by pioneering space explorers, believing they should distribute the star system across the galaxy. The reason? Because centralization can lead to rather unpleasant complications. A brief overview of each planet:
This planet contains information that answers all the questions in people’s minds about the system’s functioning.
The inhabitants of the star system have to actively use this planet for swaps, ICOs, stakes, and many financial transactions.
Pioneers planted seeds on this land for people who wanted to earn money through Yield Farming. They reclaimed the land and turned it into farmland.
On Life Planet, people will build their dream homes, participate in activities, get to know the unlimited item design, and enjoy living here forever.
Fun Planet is a cold and mechanical planet where you can have fun anywhere, and you will feel the Las Vegas experience to your bones.
This unique place will bring out the artist inside you and boost your creativity! A planet where creativity meets no boundaries for artists and creators.
Are you a social person and want to meet all kinds of people? Community Planet is here for you!
Is having fun an indispensable passion for you? Do you also like board games? Do you trust yourself in dice games? Game Planet is the planet for you!
Tasks on this planet will be updated every week, and these tasks will provide you with high financial returns!
This space travel story is built and delivered by the various teams of this project, such as:
This team develops the ideas and applications of all the technological infrastructure you see. It includes many developers, programmers, engineers.
This team works on the subject that Byepix gives the most importance in principle, namely ‘security.’ Your investment is in the hands of people with significant experience in system security and cryptography.
This team is a fast and solution-oriented ‘executive’ team.
This team manages the design task with its creative and talented staff. Andromeda team finds content ideas, prepares scenarios for Byepix, plans the implementation phase of the scenarios, and design the whole Byepix galactic system.
This team is in charge of announcing all products to the masses. They manage all processes such as growing, communicating, and sharing with the Byepix community and partners. They play a crucial role in the team, inspiring the development of strategy and products.”
If you are not excited already, perhaps the features of this project will get your creativity racing. Here are a few of them:
Features of Byepix
Governance Token and Play2Earn
As a decentralized platform, some tokens will enable you to vote on the present and future of the project – EPIX. Because you will be able to participate in programs such as hunting, you will receive tokens which essentially serve as an incentive to keep playing.
If this sounds like a Play2Earn system, that’s because it is. Not only will you receive rewards in-game, but you also transfer them into the real world.
To extend on this point, other ways to earn are via “in-system transactions to social media tasks,” such as having users “share the Byepix’s hashtag on their social media platforms or swap between coin pairs.”
By using Byepix’s marketplace, you can engage in NFTs. Furthermore, the process is simple. If you choose to, carry out these five steps:
- Connect to the same network as the NFT.
- Hover over the NFT, displaying an option to trade.
- Select buy.
Not only can you do the above, but you will also be able to swap NFTs, search for NFTs in the marketplace (via using hashtags), stake NFTs, and perhaps best of all – especially for you creatives out there – create NFTs.
A cool thing about creating NFTs here is that there will be zero fees associated with it.
Decentralized Autonomous Organizations
Governance rights will be prevalent for the participation of DAOs built for various functions. All rules, incentives, and transactions will be visible to everyone and used in place of traditional contracts. Below are a few of the DAOs for specific users:
Artists and Creators
Creatives will have the opportunity to monetize their work by putting it up on marketplaces for a customer to buy. Furthermore, there will be a voting system to determine the favorability of each piece of artwork. This system will have a score of 1-10, with options such as “I like this!” and “I want this!”
Programmers, software developers, and engineers will build innovative projects that everyone will have a chance to experience. However, they will not be created and distributed blindly. Three values will encompass each one: productivity, collaboration for the common good, and freedom.
Since the Metaverse will be a fundamental component of this project, the team will have a 3D-modeling builder that can give you features to create a character with other objects that can resemble life. When finished, you may share your creations across the star system if you want to.
Initial Coin Offering
While writing this, we are on PreSale Stage 3. A couple of details on how we plan to allocate the funds will be like this: 40% towards marketing, 25% towards exchange listings and development, and 10% towards DEX liquidity. Our website and social media platforms have more information.
Liquidity Pools, Staking, and Swaping
Anyone can choose to be a liquidity provider via staking your coins, and by doing so, you can earn money by the fees you would create in the pools. By doing this, there is an incentive to continue. Furthermore, you can swap any assets you own with another on the platform.
The Embodiment of MetaFi
The vision is to elevate your level of joy, creativity, and prosperity in our ever-changing world. Through a technological competence that breeds confidence, we will do this. Through an empathy for humanity, miracles will go from ideality to reality.
If this revolutionary innovation interests you, make sure to check out the website for more information.