Make Money Making Food NFTs?

Web3 entrepreneurs’ race to be the first to build the most popular metaverse sometimes yields curious results. For example, the Indian entrepreneurial couple Gaurav Gupta and Supreet Raju want to use OneRare to create a digital world for food lovers, where users can make money by … making virtual food.

When we think of the meta-verse, images of Mark Zuckerberg wearing VR glasses can spontaneously come to mind. But the thriving industry that is developing metaverser needs to get more and more creative in order to compete with big players like Meta. The race to build the world’s first popular metavers has raged for several years.

Indian Web3 entrepreneurs Gaurav Gupta and Supreet Raju gave the concept a whole different spin with their OneRare metaverse. They hope to create a virtual world where amateur and top chefs and food lovers will feel at home and hopefully also pump money into it. Small footnote for those who are not fully aware: Web3 is said to be the next development of the Internet, characterized by its decentralized nature and economic co-ownership among users.

“The idea is for OneRare to become a virtual world where foodies and players in the food and beverage industry can interact with each other. We want to use the simplicity of our curiosity about other food cultures to demystify the blockchain and remove the major technical barriers around it, ”said Raju. Business AM

Why would anyone want to stay in a foodverse?

OneRare’s concept is very niche, but it sounds appealing to those who are really avid fanatics of the more sophisticated forms of supplies on the planet. But why should these people spend their time in the metaverse instead of cooking or eating out?

“Not all food activities are related to eating them,” Raju explains, “In existing video games you can buy skins for your character, and all the money goes to the game publisher. In this blockchain-based metaverse, all the money goes to the community that has created the content. ”

And then we come to the main incentive that would attract food-loving users to OneRare: the ability to play through to make money and other benefits.

Whoever plays the game will be able to buy NFTs of food ingredients or virtually cultivate their own land on a piece of land with OneRare coins, the cryptocurrency used to do business in this metavers. NFTs are unique blockchain tokens that are non-fungible or non-replaceable. Each NFT is therefore unique. With the ingredient NFTs, users can then venture into a virtual kitchen to make one last dish.

“Making the same dish will require more and more ingredients. This is how the NFTs of the earliest dishes become valuable. Of course, we regularly publish new dishes, so it is not too expensive for new players, ”explains Raju. So whoever makes the first pizza on OneRare could well make some money on it. Or so the Indian entrepreneurial duo hopes.

You should be able to sell the NFTs of the dishes to other users who want to collect them. Furthermore, in the long run, you should also be able to exchange them for cooking courses or other activities that food companies arrange in the meta-verse. You can even swap them out with real food in chain restaurants one day.

Angel Investor of Lego Games

The OneRare coins themselves are already on sale at several virtual marketplaces. At the time of writing, a OneRare coin would be worth about 11 cents. The coins are built on Polygon, an application found on Ethereum, the world’s second most valuable cryptosystem after Bitcoin.

The metaverse itself has not been launched yet, though there will be a game page test of the project over the next few days. Raju states that she expects the metaverse to need a little fiddling before it is completely ready. What OneRare will actually look like in the end is impossible to fathom. “The idea is to explore the technology now and along the way find out what’s happening and what we can improve,” says Raju.

The Web3 application certainly attracts the attention of major investors. Abhinav Sarangi, product manager at Lego Games, joined the project as an angel investor. “He helped us a lot with the game side of the project,” Raju said. Sandeep Nailwal, co-founder of Polygon, also threw his full weight behind OneRare.

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