[Round 10 Proposal] MGH: Unleash NFT Market Data

Ocean DAO Grant Proposal [Round 10]: Datasets on Metaverses

Part 1 Proposal Submission

Name of Project:

MetaverseGameHub

Proposal in one sentence:

Offering datasets on the Ocean Marketplace revolving around data from metaverse based assets such as LANDS that are generated by analytic algorithms powered by AI models which allow a fair and transparent price evaluation of the NFT market.

Description of the project and what problem is it solving:

The MGH DAO strives to foster the convergence of DeFi, NFTs, the metaverse,
oracles and data by combining utility, governance and data within one holistic ecosystem. The initial focus will be on metaverse related NFTs as this evolving market has some of the most auspicious digital assets (e.g. LANDS). Here the MVP of a pricing algorithm is finished and allows the creation of valuable datasets that for instance enable the discovery of undervalued LANDS on e.g. Opensea or other NFT marketplaces.

Generally, MGH DAO will allow access to decentralized NFT Pools and NFT Pool Tokens (synthetic assets tracking the pool value) and thus enhancing the value factor of NFTs without the sacrifice of ownership for NFT holders - they can stake their NFTs but do not have to sell them. Additionally, token holders collaboratively acquire, govern and monetize metaverse based LANDS. Furthermore, MGH DAO provides analytic algorithms powered by AI models that allows the analysis of the respective NFT’s fair value and seamless, transparent integration into the NFT Pool. Here the pricing oracle becomes relevant which is developed in collaboration with Chainlink.

MGH addresses the problems of intransparency, illiquidity, high risk and high entry barriers in the metaverse based NFT market.
As Ocean Protocol opens up the massive market of data to the public, MGH DAO aims to provide access to a broad community and not only to big companies looking to extract value from the metaverse. In a nutshell, the MGH DAO will leverage its community to curate the creation of different datasets revolving around metaverse NFTs that are then offered on the Ocean marketplace.

Grant Deliverables:

  • Create datapool with data from the Sandbox virtual real estate market which will be updated weekly
  • Use the pool as the initial automated market maker for our own utility token => OCEAN/MGH trading
    pair
  • Further development of the pricing algorithm to offer more data about similar assets such as
    Decentraland lands
  • Posts on the MGH social media channels regarding the integration
  • Start of the data economy podcast by Nicolas Weber
  • Article published on multiple Korean and Chinese media outlets about MGH and its connection to the
    Ocean Protocol
  • AMA focused on the Ocean Marketplace and the respective MGH/Ocean pool
  • Youtube videos introducing MGH and its connection to the Ocean Marketplace

Which category best describes your Project?
primary/secondary:

  • Unleash data
  • Outreach / community / spread awareness

Which Fundamental Metric best describes your project?
primary/secondary:

  • Data Consume Volume
  • Total Value Locked

What is the final product?

We will create at least 2 data pools, update the datasets every week, use the Ocean Marketplace with the underlying balancer protocol as our initial AMM for trading the MGH utility token and bring publicity to the Ocean Protocol within the metaverse community where MGH DAO has strong connections and reach.

The datasets will contain key variables such as the LAND price fluctuation of the last 1,7 and 30 days, the algorithm’s forecasted price, suggested operation (buy, offer, bid), placed orders history, origin contract- metadata as well as a price manipulation index. The index will be based on a table where market actors are considered nodes and every unique transaction between them is recorded. The table will be populated with all transactions between nodes as count values. Finally, all values from the table are added together and then divided by the total amount of transactions, creating an index of price manipulation for the analyzed asset.

Bang:

Assuming the price of the sets to average 50 $OCEAN and approximately 75 interested buyers per week, which might be optimistic at the moment, but will scale very well with the increasing attention on the metaverse topic and the Sandbox launch coming up next year.
With a fee of 1%, the value created for liquidity providers will be
50 $OCEAN75241% = 300 $OCEAN / month from data acquisition.

Additionally the MGH / OCEAN trading pair on the Ocean Marketplace will generate an estimated volume of 10000 $OCEAN per day resulting in another 3000 $OCEAN monthly for the Ocean liquidity providers.
Furthermore we will lock value in the Ocean Marketplace by providing 40k $OCEAN as liquidity for the initial MGH / OCEAN datapool.
=> Overall value added to Ocean Protocol in 6 months will be 40k $OCEAN in TVL and 6 months*(3000 + 300) $OCEAN/month in fees for the ocean ecosystem.

=> BANG = 59800 $OCEAN.

The monthly revenue should continue to scale much longer than 6 months.
Keep in mind that value added by creating publicity for the Ocean Marketplace and in general the Ocean Protocol on our social media and through our community comes on top of that.

Chance of success:

The rising NFT market has a key problem: lack of infrastructure. Currently, there aren’t any models available to the public that analyze and value NFT related data. Taking into account the rise in popularity of topics such as the metaverse and virtual reality, we expect the demand for NFT related datasets to rise exponentially. Providing the market with such data will increase its efficiency and transparency, leading to an increased adoption of the metaverse and the creation of digital native value.

The MGH DAO was summoned to collaboratively acquire and curate Metaverse based NFTs while providing fair NFT valuations through the implementation of a pricing oracle. The MGH token is used to access the MGH ecosystem (NFT pools, games and virtual land basket), make relevant decisions on which lands are acquired and how they are developed, as well as allowing access to NFT related dataset in the Ocean ecosystem. This gives MGH a unique property: Being the first utility, governance and data token. The public launch of the MGH token is scheduled for November 14th and the Ocean/MGH pool will be the first pool where MGH will be publicly traded. This demand driver will lead to a positive feedback loop between MGH and the Ocean ecosystem.

The first draft of the algorithm for Sandbox lands is already finished and has been used to identify undervalued lands on the Opensea marketplace for the MGH DAO to buy. Nevertheless it still has to be adjusted and retrained to generate more data from multiple virtual worlds. MGH is at a stage where the first Sandbox land is about to be acquired and community engagement is already picking up traction. Meanwhile the interest in Sandbox and other metaverses is continuously rising. 28.5k Ether have already been traded to purchase Sandbox lands on OpenSean although the launch will be next year. Therefore, it is fair to assume that data relating to fair price estimations and suggested actions is perceived as valuable by a lot of NFT traders and Sandbox enthusiasts.

Project leader Nicolas Weber is well connected in the crypto ecosystem and has already experience with crypto projects, like e.g. Amazing Blocks and the Tokenization Working Group at European Blockchain Association as well as working with players such as Prof. Dr. Phillipp Sandner with whom he also wrote an article on data tokenization which was published on Forbes. The MGH core team is diverse as well as committed to the project and has direct access to multiple continents and languages. ITRM is an established AI and big data company that has successfully provided FinTech to multiple big institutional players in the past.

Estimation: 80 %

Funding requested: 9000 USD

BUCK: 9000 USD ~= 12857 $OCEAN (0.7$ / OCEAN)

ROI = Chance of Success * BANG / BUCK = 3.72

Proposal Wallet Address: 0x51bD9f5B2562ac622eb50DFd0F0D604558C7819f

Have you previously received an OceanDAO Grant (Y/N)? No

Team Website: metagamehub.io

Twitter Handle: @MGH_DAO

Project lead Contact Email: nicolas.weber@thedac.info

Country of Residence: Germany and Columbia

Part 2 - Team

Core Team

Nicolas Weber

  • Role: Founder
  • Relevant Credentials:
  • Background/Experience:
    • Co-founder at EUTOK (European Blockchain Association)
    • Head of Business Development at Amazing Blocks AG
    • Founder & CEO DAC
    • Founder MGH DAO

Camilo Echeverri

Fredy Saul Teheran Tovar

Santiago Hernandez

Camilo Alaguna

Part 3 - Proposal Details

Project Deliverables - Category:

The Ocean/MGH collaboration will focus on two directions: Community engagement and technical development

The outreach/ community deliverables will be in the following categories: Website, Blog, Twitter and Youtube. To start off, we will write an article about the importance and value of virtual real estate data in conjunction with the data economy and algorithms. Our website will be updated to reflect our data driven focus and collaboration with the Ocean Protocol. This will be followed by weekly updates regarding the development of our pricing algorithms as blog and twitter posts. Additionally, we will post Youtube videos to explain the uniqueness of the Ocean Marketplace in relation to the MGH utility, governance and data token as well as metaverse related data. Since our launch pools will be open to the public during one month, we will create one article that will be published in Korean and Chinese media outlets about our collaboration with Ocean Protocol together with an AMA focused on the Ocean Marketplace and the respective MGH/Ocean pool. We will discuss Ocean Protocol with our community on 3 - 5 educational Twitter Posts and in an open discussion on Telegram at least until the 14th of November. We will announce the launch of each Datapool on all our social media platforms. Finally, the project lead will do a weekly podcast talking about the metaverse, crypto and data economy to increase awareness of the importance of data as an asset in the digital era.

Our technical deliverable is based on curating datasets for The Sandbox followed by Decentraland and other virtual worlds. These datasets are generated automatically by scripts that extract the data generated by a metaverse, and then process the data through analytic algorithms powered by AI to obtain valuable information and store it where it is required. Additionally, these scripts are checked regularly to ensure the data is kept up to date. Moreover, the AI models are reviewed on a monthly basis to identify whether they are performing well or if a retraining is needed. Then, to avoid overfitting during the training process, we randomly split the data in two sets, one training set (80%) and one testing set (20%). Finally, we train the models until getting a correlation of at least 70% in both sets.

The Sandbox datasets will be published by November, until then we will work to increase the quality of the data set by expanding the dimensions of analysis and improving our AI models. We will start working on the Decentraland market dataset that will be published on the Ocean Marketplace until EOY.

Project Deliverables - Roadmap

Prior Work: The team has been working since May of this year on the vision of creating a DAO for the collaborative governance of virtual real estate and the metaverse. We studied our direct and indirect competitors to determine our market niche and our potential users. We quickly realized the big need of providing NFT infrastructure along with the democratization and monetization of metaverse related data. Given that the Ocean marketplace has the best infrastructure to fulfill those two goals we always had the protocol in mind to make the integration. With this in mind, the team has been gaining exposure in the cryptocurrency market with different publications such as the Forbes article that project lead Nicolas Weber co-wrote with Prof . Dr. Philipp Sandner.

What is the project roadmap?

Q4 2021:

  • Technical
    • The Sandbox datasets will be published until the 14th of November, until then we will work to up the
      quality of the data set by expanding the dimensions of analysis.
    • We will start working on the decentraland market dataset that will be published on the Ocean market
      place until EOY but likely earlier.
  • Communication
    • Engage community through social media campaigns
    • Attract potential users of the Datasets published on the platform
    • Establish partnership with the Ocean Protocol
    • Expand social media outreach with AMAs
    • Start of the data economy podcast by Nicolas Weber
      (all happening until end of year)

Future Plans and intentions:

We are looking forward to having a long-term collaboration with the Ocean protocol by publishing multiple data sets on different digital assets from the OpenSea marketplace. As MGH continues to grow, we want to fork the Ocean marketplace and integrate it with the MGH DAO.

7 Likes

@Philantrop funding requested is 9000usd, correct?

Please make clear in your proposal. thank you!

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Yes, 9000 USD as we are a completely new proposer :slight_smile: . Edited it to make it more clear.

3 Likes

At MGH DAO we are excited to provide transparent Metaverse based NFT pricing data to the Ocean ecosystem! Further, while the concept of utility, governance and data token in one is a not yet “navigated water”, we strongly believe that it will together with the metaverse convergence provide further adoption for the Ocean Marketplace as the demand for LANDS especially in the Sandbox is high, yet it is hard to find fairly evaluated ones. We aim to change this and strongly believe in the developed algorithm which will then in turn enable also more retail investors to participate in this unique asset class. With current trends such as GameFi and MetaFi being major drivers of adoption, we believe this comes just at the right time! If there are any questions, please do not hesitate to contact us anytime, also happy to hear your feedback on the model as well as the proposal!

7 Likes

Yes, absolutely correct! You will have access to a diversified NFT Pool where you participate in the performance of many virtual worlds with only a single investment instead of doing it manually. This is nearly impossible for private investors and for the long-term, its the only rational thing to diversify properly.

6 Likes

MGH’s metaverse pricing algorithm is not only sophisticated and very impactful to retail investors, but it makes it easier to be accessible to your everyday participant to curate a new innovation! We want to have a transparent outlook on our community & surrounding ecosystems. The only way to do that is to progress through pioneering diversity in the metaverse via LAND within the Sandbox :slight_smile:

6 Likes

Hey! I’ve enjoyed reading your proposal and ideas.

+1 on the votes! Good luck :+1::four_leaf_clover:

4 Likes

The more I read about this project the more I get excited about it. Such a fast-scaling, yet still immature market like the one of NFTs needs players like MetaGameHub to bring in a broader value proposition, democratization, and transparency. This approach is going to be part of the DNA of future NFTs development. MGH has just dared to be one of the first to hop on this rocket! Fantastic!

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Thank you so much for the support! Keep up the good work fostering education about Ocean :smiley:

1 Like

Really looking forward to downloading those datasets. Let’s add some price transparency to the NFT market :slight_smile:

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The metaverse is where the layman and the dev converge. MGH DAO has done an outstanding job at conveying their core concepts to the average person with some interest in the metaverse. They are successfully communicating how anyone can participate in the nascent MetaFi LAND economy and LAND valuation. NFT valuation is a pressing topic as we see the NFT market breaking through top signals into the realm of paradigm shift. OCEAN and MGH would be the first mover in this type of valuation between the oracles and the datasets made available on the data marketplace. All of this would be communicated in laymans terms to the people that want exposure to the metaverse.

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Thank you so much, John! Keep up the great work educating people on crypto! :slight_smile:

MGH metaverse has designed an effective model to take into account all types of investors, they are developing many alternatives for the MGH end user giving effective tools and smart solutions. :grinning: :grimacing:

1 Like

thank you for the positive feedback and happy to have you on board of our journey to democratize access to NFTs :slight_smile:

Hey MGH Team,

We just submitted our vote for this proposal and we’re excited to have you here as part of the OceanDAO! Good luck in your journey and ship ahead!

If you have time, go ahead and review our Proposal on the Port. Let us know whether you have any comments.

Cheers,
Data Whale

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thank you so much for the support! equally good luck with you proposal!

1 Like

Modest “ask”, ambitious targets. Looking forward to seeing the results and a follow-up funding request when successfully delivered.

3 Likes