Research is not easy, welcome friends to like it before reading it
First summary:
SecondLive will occupy a central hub position in the future BSC ecosystem.
Why do you say that? Because this project provides an important destination (consumption scenario) for a large number of NFT issuers on BSC.
Third-party NFT issuers cooperate with Secondlive to issue NFTs, and C-end users purchase and hold NFTs to participate in space activities (entertainment (concerts), AMA, social networking). By extension, the project party can provide a channel for NFT conversion to SBT (soul proof) before the entertainment activities start. Users will destroy the purchased NFTs and hold SBT to participate in the activities. Later, SBT can become a loyalty certificate to allow users to obtain more VIP benefits.
Third parties issue NFTs (tickets, rights) - users consume entertainment - project parties make profits - continue to develop more virtual economic businesses. Here is a complete business flywheel with practical use cases.
Providing actual consumption scenarios for NFTs and building a healthy and effective virtual entertainment economy are important development directions for the Metaverse.
Currently, Secondlive has established cooperative relationships with 24 brand project parties.
Judging from the number of third-party projects it has cooperated with, the diversity of Live spaces it has built, the number of people interacting with it, and the BSC weekly report, SecondLive has received a lot of resources from Binance. The project is operating well and developing steadily, and it deserves special attention. There is a chance that it will be listed on Binance IEO in the future.
Important events currently being held: Cooperating with Cocos-BCX, SoulSaver, BetFury, Live4, BinaryX, Meta Apes Task, and BurgerCities to host a World Cup theme space, where you can watch live broadcasts of World Cup matches in the space, and you can also predict the matches to share a prize pool of $55,000.
1 Project Introduction
1.1 Introduction
SecondLive is a metaverse social project led by Binance Labs that allows anyone to create a 3D virtual space, providing entertainment venues and social network infrastructure for large-scale online virtual events.
1.2 Basic Information
Project establishment time: 2021.7
Section: Social
Token Symbols: $LIVE (governance), $BEAN (utility)
Fundraising situation: Seed round financing, the amount of financing was not disclosed.
2 Project Details
2.1 Products
2.2.1 Space
Space is the cornerstone of the SecondLive metaverse ecosystem. It is an open 3D scene that hosts all possible digital entertainment activities such as AMA, parties, games, exhibition halls, brand stores, exhibitions, live broadcasts, concerts, etc.
The spaces are divided into three categories. The first category is the officially designed exhibition hall, which is a special space customized for specific projects or large-scale events. The second category is the officially released NFT space, where users can participate in mining and limited activities. The third category is the space scene created by creators and artists using Unity and the official editing package.
2.2.2 Market
The official NFT trading market can trade any virtual items created on the protocol, including but not limited to: space, avatars, character accessories (clothes, shoes, hair, earrings), pets, etc. (Currently not open to the public, only supports NFT products on the SecondLive ecosystem)
2.2.3 Task System & Event System (Play to earn & Event)
The Play and Earn system is an important link between projects and players. In addition to the official daily interactive tasks, third-party projects are also allowed to apply for events and space usage rights. Projects initiate events, and users enter the space to participate in event activities and receive incentives ($BEAN, NFT, third-party tokens).
Currently, $LIVE is not on sale. Players can obtain $BEAN by completing weekly tasks and participating in third-party project activities. By placing $BEAN into the official staking pool, they can get at least 6 $LIVE per week.
The detailed tutorial is quite long, so I made a separate interactive guide for pulling hair. Please click on the author's avatar to view it.
2.2.4 Creator Tools
It consists of space editing tools, space decoration tools, and avatar editing tools. The tools can be used freely, but you need to apply for the creator whitelist from the team before uploading to SecondLive.
The official documentation has detailed tutorials, so I won’t go into detail here. From the documentation, it seems to be quite friendly to ordinary players and has a low threshold.
After the creator completes the image design (avatar, 3D head, clothing accessories) and space design and obtains official approval, he can sell his products in the market. (There are successful cases of clothing accessories NFT, but space design has not yet appeared. Currently, the creator's income mainly comes from the design competition held by the official)
2.2 Team (undisclosed)
2.3 Funding
On November 3, 2021, SecondLive completed its seed round of financing, which was jointly completed by BSC's $1 billion growth fund plan and Binance's venture capital and incubator Binance Labs, with a valuation of $30 million. Other investment participants: ArkStream Capital, Bullet Labs, GBV Capital, LucidBlue Ventures, Magic Ventures, Multiplex Ventures, Old Fashion Research, Pow Rise Capital, SEJO Asset and Yuanyuzhou Ventures. (The amount of financing is not disclosed)
Considering the frequency of the project’s official exposure and publicity on BSC, it can be regarded as a key project of the Binance system, and there should be no problem with operating funds.
2.4 Business data (social data, number of interactive users)
Twitter: 365,000 followers.
Discord: 200,000 members.
Telegram: 70,000+ members
Unique addresses interacted with in a single day in November: 5K
November data monthly interaction unique address: 16K
2.5 Economic Model
The SecondLive economic system consists of two tokens: the governance token $LIVE and the utility token $BEAN.
The governance token $LIVE (not yet publicly sold) has a total supply of 1 billion and is used for DAO governance. It has no other uses for the time being. Currently, 100,000 $LIVE are airdropped to $BEAN staking pool users every week.
$LIVE's tentative distribution plan:
Sponsors and advisors, 25%, 250,000,000, locked for two years, released quarterly.
Public sale, 5%, 50,000,000, unlocked immediately.
Ecosystem construction: 15%, 150,000,000, locked for three years and released every quarter.
20% for the team, 200,000,000, locked for three years and released every six months.
The community incentive is 35%, 350,000,000, which will be gradually released within ten years.
The total supply of the functional token $BEAN is unlimited and is currently used to incentivize user interaction protocols. The output methods include but are not limited to playing mini-games, holding officially issued spaces, various specific tasks, and interactive incentives for activities initiated by third-party curators.
The economic model design has not yet been finalized, and the above is for readers’ reference only.
The following are the author’s suggestions and ideas:
$BEAN exists in various consumption scenarios. Artists and creators consume $BEAN to create and mint NFTs, and users consume $BEAN to purchase NFTs and enjoy entertainment experiences. Each consumption scenario is classified and a separate transaction tax (for example, 10%) is formulated. The transaction tax automatically enters the closed $BEAN pledge pool through the protocol according to the interactive address in the transaction. SecondLive officials retrieve the participating addresses of the transaction tax every week and airdrop $LIVE to creators and users in proportion.
At the same time, a public $LIVE long-lock period staking pool is provided to earn $BEAN, and the $BEAN income can be withdrawn at any time to reduce the consumption cost of users. This can provide good inflation for ecological economic circulation.
Under this design, $BEAN serves as the main circulating currency for metaverse activities, and $LIVE serves as a governance token and interest-bearing asset with higher gold content.
2.6 Ways to break the impasse
The author believes that there are roughly three important nodes. The first is mature basic technical support, using NFT as a carrier to realize the practical application of various NFTs. Here are a few examples:
Movie distributors authorize paid broadcasts on SecondLive and hold NFTs as movie viewing vouchers. Users can share movies and TV shows with friends in their own space.
For music NFTs, in addition to the right to play and collect the songs themselves, SecondLive should also support song special effects at the bottom layer, just like DeadMau5's virtual concert in MANA, where the special effects of the entire space change with the rhythm of the music. Users can easily customize their personalized entertainment needs through modules in their own space.
The author believes that the biggest advantage of metaverse digital entertainment over offline real life is the free, rich, and easily customizable personalized entertainment experience.
Second, the reshaping of user consumption concepts. Obviously, it is impossible for users to satisfy the actual needs of the flesh, such as appetite, through the Internet. The metaverse represents more of a physical upgrade at the spiritual level. Imagine a scene where creators and artists in a virtual bar space collaborate to create cocktails with gorgeous special effects that look like works of art. These cocktails consume a certain amount of $Bean to cast, and users consume $BEAN to buy cocktail NFTs and experience a fantastic experience designed by digital technology (displaying the production process in the form of art and providing other VIP benefits to drinkers). Ultimately, cocktails enter the user's wallet as SBT, and can become digital collections displayed in their own private space, or become a topic of conversation in the metaverse social world, and a consideration indicator for subsequent loyalty programs.
Third, the maturity of VR hardware facilities. In the future, whether SecondLive can be highly compatible with various VR devices and bring users a smooth and comfortable experience has become the key.
3 Development
3.1 Development History:
On September 1, 2021, we joined hands with Binance to provide a large online virtual venue (MVB Pavilion) for the BSC one-year anniversary celebration.
2021.9.7, reached cooperation with transparent privacy payment layer2 infrastructure Suterusu.
On September 19, 2021, we reached a cooperation with Treasureland, a multi-chain NFT issuance and trading platform, and created an exclusive space for it.
On September 21, 2021, Secondlive reached a cooperation with the open source blockchain infrastructure NULS, and will create an exclusive space for it.
2021.9.22, reached cooperation with LP lending platform Channels.
On September 28, 2021, we reached a cooperation with NFT’s IDO and Gamefi incubation platform YooShi and created an exclusive space for it.
2021.9.25, reached a cooperation with the Web3 data certificate network Project Galaxy and created an exclusive space for it.
On October 2, 2021, we reached a cooperation with the digital game economic platform Cocos-BCX and created an exclusive space for it.
On October 14, 2021, Secondlive released the first batch of 1,000 limited personal virtual spaces.
On November 3, 2021, SecondLive completed its seed round of financing at a valuation of US$30 million, jointly completed by BSC's US$1 billion growth fund and Binance Labs. (The amount of financing is unknown).
On January 1, 2022, SecondLive and BSC held a Christmas celebration at the MVB Pavilion, airdropping tokens and NFTs worth $150,000.
On January 19, 2022, Secondlive released a limited edition of 200 island virtual spaces.
2022.4.13, reached a strategic cooperation with AI virtual idol platform Metaverse AI.
On April 15, 2022, the music NFT community Innocent Cats and European and American hip-hop superstar Quavo jointly held the first metaverse virtual concert. The peak number of online people in a single virtual space exceeded 5K, with a total of 52K viewers.
On May 12, 2022, Secondlive released a limited edition of 300 MIX virtual spaces.
On May 2, 2022, Cocos-BCX and BinaryX sponsored the live broadcast of Grandtheft's electronic music festival at the concert venue.
2022.6.2, Avatar Editing Tool is launched.
On June 14, 2022, we jointly organized a uniform design competition with Cocos-BCX, Meta Apes, BetFury, BurgerCities, TopGoal, NFTb, Thetan Arena, Baryon Network, Element, LEND, MillionWinner, and Zebec.
2022.7.12, 1211 x Jayson Atienza jointly launched 2,000 limited sets of wearable Cyberboot shoes at SecondLive.
2022.8.10, the general private art gallery space will be opened.
On August 18, 2022, the full version of the creator tool SecondLive Creator Program was launched, including space editing tools, space decoration tools, and avatar editing tools.
On August 23, 2022, the first personal clothing NFT asset created by community creator Multi (TwitterID: @Multidesign9) was launched on the market.
On October 24, 2022, a Halloween-themed event space will be launched. Players who participate in the event can cast themed costumes and receive candy.
On November 15, 2022, SecondLive will join hands with Cocos-BCX, SoulSaver, BetFury, Live4, BinaryX, Meta Apes Task, and BurgerCities to host a World Cup themed venue, where you can watch live broadcasts of World Cup matches in the space and predict the matches to share a $55,000 prize pool.
On November 26, 2022, SecondLive will collaborate with Metaverse artist Miso to create an online concert for a two-dimensional virtual idol.
3.2 List of SecondLive’s past important virtual events:
On August 31, 2021, the BSC anniversary celebration was held at SecondLive, and the BSC DeFi Pavilion space was jointly launched. During the celebration, a total of 30+ BSC chain DEFI, NFT, and Gamefi projects participated in opening exhibition halls and holding airdrop activities.
On September 7, 2021, SecondLive and Binance jointly held the Metaverse Virtual Expo, with airdrop rewards worth $15,000 and 20 exclusive SecondLive 3D NFTs.
On December 21, 2021, we will join hands with BSC to organize an exclusive space for Christmas activities.
On March 28, 2021, SecondLive and European and American hip-hop superstar QuavoYRN (3.81 million followers on Twitter) successfully held the first online metaverse virtual concert. The peak number of participants in a single space exceeded 5K viewers.
On July 11, 2022, the SecondLive Central Event Plaza will be launched, and it will become a space transit station in the SL metaverse system.
Important ongoing activities:
On November 15, 2022, SecondLive will join hands with Cocos-BCX, SoulSaver, BetFury, Live4, BinaryX, Meta Apes Task, and BurgerCities to host a World Cup themed space, where you can watch live broadcasts of the World Cup games in the space and predict the games to share a $55,000 prize pool.
On November 26, 2021, SecondLive will collaborate with Metaverse artist Miso to create an online concert for a virtual idol. One will be held at 14:00 UTC on November 26, and the other at 3:00 UTC on November 27. Watching the performance will earn you a lot of airdrops.
