Metaverse Thailand partners with Bitkub to release tradable NFTs

Metaverse Thailand has announced a partnership with Bitkub with plans to launch a metaverse on the Bitkub Chain. The land on this metaverse will be issued in the form of non-fungible tokens (NFTs), and the same will commence on May 30.

Metaverse Thailand partners with Bitkub

The virtual land on Metaverse Thailand will be a replica of some areas of Bangkok. The company noted that some of the areas on this metaverse include Phrom Phong areas and Thong-Lor-Ekkamai-Sukhumvit Soi 71.

The co-founder of Metaverse Thailand, Parin Sathianpagilanagorn, was speaking in a panel discussion during the Thailand Crypto Expo 2022 with the CEO of Bitkub Blockchain Technology where they will talk about the upcoming development of this metaverse.

Through this partnership, there will be a connection between land or hexagons, which will be issued on Metaverse Thailand. Once they have been listed, the items can be bought through the Bitkub Metaverse.

As part of this deal, it will be possible for the two companies to set the agreements on how the metaverse will operate. The companies will be referred to as the “Lands department”. They also confirmed that hexagons would be available for trading on the Bitkub Metaverse. Holders will also receive yields through staking in the platform.

Metaverse Thailand focuses on a metaverse that will provide value and utility to the users. The platform is currently working on building infrastructure that will boost additional utilities and build use cases for hexagons. This will increase the value of the hexagons in the future.

The team is also planning the launch of hackathons to create more use cases for the project. Hackathons will allow users to win rewards, and this could grow the value of the project by attracting more users.

Metaverse Thailand is also planning to release the second phase of this project on May 30. The Hexagons for this project will be bought for 33 KUSDT, 3 KUB and 333 MVP. Parin noted that the team has been working on creating three new specific items known as “metaverse technology, the kubchain, and the kuboin.”

The growing use of the metaverse

The metaverse is becoming a highly competitive space. Because of this, it has attracted a wide range of companies and users across different industries. Some prominent traditional companies are also moving into the space despite previously opposing the concept.

In April, Fidelity, one of the largest financial service providers globally, announced that it had launched a virtual property in the metaverse. The goal of this project was to offer financial education and dancing classes to users.

Fidelity Stack was created on the Decentraland metaverse. Fidelity Stack is a web application that mimics a metropolitan area that features commerce districts, offices and spaces used for events.

The application targets the young demographic aged between 18 years and 35 years. The Fidelity Metaverse exchange-traded fund (ETF) allows investors to access companies created in virtual environments, including the metaverse. It will allow users to work together, socialize and play together while working on a wide range of devices part of Fidelity Stack.