What is HighStreet?
HighStreet is a play-to-earn metaverse that combines gaming, shopping, NFTs, and traditional and crypto brands into one unified MMORPG game. Users can earn real money by completing quests, socialising with other users, attending social events, and shopping for NFTs from real-world brands.
As the first commerce-centric metaverses, HighStreet aims to revolutionise e-commerce and retail. They execute this vision by tokenising real-world products and changing them into “phygital” (physical plus digital) objects that users can trade for a physical product or partial NFTs. Thus, enabling customers to purchase just the digital component or the entire phygital item. For example, when a user purchases a designer bag, they’ll be able to wear the bag in real life and add it to their avatar’s wardrobe in the virtual world.
HighStreer’s marketplace is accessible through web browsers, so it’s easier for users to spend time with a community with the same interests and hobbies. Additionally, users will even have opportunities to mingle with celebrities who release their products and merchandise on HighStreet.
The virtual world of HighStreet houses the continent of Solera and an archipelago of mystery islands and regions that will continue to expand in the future. Market forces will shape all areas within the metaverse. Users can buy land tiles within the metaverse and get an opportunity to earn income.
History of HighStreet
The founder of HighStreet is Travis Wu. The core team of the metaverse began as LumiereVR, a computer vision-based VR retail company established in 2015. Over the years, the team has built a commerce-based metaverse by bringing components created by different companies together. These companies include Hershey’s Chocolate, L’Oreal, Victoria Secrets, Madison Square Garden, and more.
Since the team comprises die-hard gamers, HighStreet is inspired by some of the team members’ childhood favourites, like Maplestory, One Piece, Avatar the Last Airbender, and Treasure Planet. Their objective is to create a link between the digital and the physical worlds by reinventing how financial products are used, consumed, and sold. They want users to be able to explore a multifaceted metaverse, own and expand virtual reality estates, purchase tokenised products, and be a part of a thriving community.
Since its beginning, HighStreet already has major thought leaders, from chains like Avax and exchanges like Binance to funds like Animoca and Republic integrated with the metaverse as a Service layer. In Q3/2021, HighStreet raised 5 million USD in funding. The funding round was led by both traditional and crypto venture capital firms, such as Mechanism Capital, Palm Drive Capital, NGC Ventures, Cherubic Ventures, GBV, Jump Trading, Shima Capital, and Panony. In addition, influencers and community builders like Miss Bitcoin, Encrypt Club, and Mr Block also participated.
HighStreet plans to hold Initial Home Offering (IHO) and open its public alpha in Q1/2022. The first wave of partnership content integration and initial user testing for HighStreet Mobile Companion App is planned to launch in Q2/2022.
Popular Areas in HighStreet
Below are the five core regions in HighStreet:
- HighStreet City - HighStreet City is the de facto centre of HighStreet World, as well as the landing Zone for both new players and players. It’ll be a bustling metropolis where everyone in the metaverse comes together to conduct trade or to simply hang out. It’s where most real-world brands will start to grow their presence in the metaverse. HighStreet City will expand continuously as more brands enter the metaverse and more players join the game. Users can expect to find modern condos in HighStreet City.
- Binance Beach - Binance Beach is an explorable beachfront where users can find a marketplace for buying, selling, and bidding Binance NFTs directly within the game. A small subsection of the area is dedicated to big BNB fans who want to buy private residences. The architecture of the area resembles that of Greek houses. Here, residents and visitors can feel relaxed while enjoying their time in the sun.
- AVAX Alps - Located in the northernmost region of the HighStreet World, AVAX alps is a frozen tundra filled with residential igloos. With year-round snowfalls, the region is a permanent winter wonderland.
- Animoca Archipelago - Off the coast of the main continent of Solera, users can find a trans-archipelago highway that runs through the network of islands. Each island on the archipelago represents a game or a brand under the Animoca Brands Umbrella.
- Republic Realm - Republic Realm is an island enveloped in a mysterious veil. It hangs in the sky like a mirage, making it seem unreal from a distance.
Types of Property in HighStreet
- Virtual Real Estate - The HighStreet World is built up of hexagon-shaped tiles spreading across the map. Each Hex is 44 metres in diameter. Users can buy the tiles individually or in a collection across the various locations in Highstreet World. Owners of these land tiles can develop anything they want, such as homes, clubs, and shops.
In HighStreet’s Initial Home Offerings (IHO), users can buy limited edition residents across the world’s five core regions: HighStreet City, AVAX Alps, Binance Beach, Republic Realm, and Animoca Archipelago. Each region has different types of properties offered. For example, the first type of property to be unveiled from HighStreet City in the IHO is Vive Tower, which HTC powers. Those who want to purchase a property in the remaining four regions need to complete a small questionnaire, which will be used by the team to sort prospective players to the most fitting region.
Owning a home in the HighStreet world will give players plenty of opportunities to earn income from transactions and economic activity in their homes. Owners can customise everything from walls to decorations and furniture based on phygital items. Additionally, owners can display their NFTs, invite friends over, and more.
- Forever Fomo Duck Squad (Ducks) - Forever Fomo Duck Squad or Ducks are the official mascots and avatar NFTs of the HighStreet World. The 2D NFT ducks will transform into 3D ducks in-game. Those who own Ducks will be able to access exclusive clubs in the HighStreet World, as well as exclusive drops and vaults. Since Ducks are unique NFTs living on the Ethereum blockchain, owners can trade and sell them in various marketplaces.
Native Tokens Used in HighStreet
HighStreet is fueled by two primary native tokens: HIGH and STREET. Both of these tokens will be listed on exchanges. Thus, owners will be able to exchange them for either fiat or cryptocurrencies.
- HIGH - Users who acquire HIGH will be able to purchase products on HighStreet’s limited edition marketplace and earn transaction fees when their HIGH is staked into the pool. Users can also use HIGH for real estate purchases in the metaverse. Additionally, HIGH allows users to engage in the world’s governance. In the future, owners of HIGH tokens will also be able to vote on merchant concerns.
- STREET - STREET tokens are the in-game currency of HighStreet that helps ensure that all players have equal opportunities to enjoy the game without hyperinflation. It’s used as the main currency that facilitates all transactions in the game, such as buying from other players, buying from NPC characters that represent brands, and repairing in-game items. Another use case of STREET is play-to-earn. Players can earn this token by completing quests and hunting monsters.
Top 3 Reasons to Invest in HighStreet
- The first of its kind – HighStreet is the first commerce-centred metaverse with a DeFi marketplace for limited edition products. Its hybrid model of virtual experience — half virtual and half physical — truly sets it apart from other existing metaverses. It allows brands to interact with their customers in a fun and innovative way, making it an exciting experiment. Besides, with its instant liquidity feature known as StreetSmart Bonding Curves, users can directly buy and sell product tokens at a dynamic fair market value 24/7.
- Backed by remarkable investors – A great list of investors backs highStreet, including HTC, Cherubic Ventures, Palmdrive Capital, Jump Trading, Mechanism, and NGC.
- Highly experienced teams – The team behind HighStreet consists of veterans from DeFi, VR, fine art, and hype markets. They are known to have years of experience, world-class resources, extensive knowledge, and precise execution.