Blockchain has been fostering the development of new and often unpredictable markets and economies driven by demand for innovation. From unprecedented crowdfunding mechanisms to play-to-earn (P2E) and move-to-earn (M2E) models, decentralized technology is empowering communities like never before.
One of the next big things in today’s tech revolution is the so-called Map2Earn — an emerging and fast-growing trend revolving around an economic model that incentivizes people to scan physical locations and buildings for 3D mapping. While this is not an independent market yet, Map2Earn may play an essential role in augmented reality and the Metaverse. Both are multibillion-dollar markets and are expected to expand rapidly in the following years.
Some analysts expect the Metaverse market to exceed the $1 trillion mark by 2030. The AR and virtual reality market may grow to about $500 billion by that time.
Many AR and Metaverse use cases involve simulations of a map. The ecosystem will soon require Google Map-like alternatives. The Map2Earn model will accelerate the creation of quality 3D maps with the help of communities, with participants being incentivized for their effort. While the requirements differ from case to case, most often, users are invited to take pictures of physical locations with their smartphones.
What’s different about Map2Earn
Map2Earn has some great benefits that anyone with a smartphone can leverage. Unlike other similar trendy economic models, such as P2E and move-to-earn, which require more effort, Map2Earn can reward users simply for taking a few shots while taking a walk, going to the office or traveling for fun.
Thanks to Map2Earn, blockchain and Metaverse projects with large communities can build detailed 3D maps of the physical world and deliver unique AR and Metaverse experiences. Currently, one of the problems with most virtual world projects is that GPS accuracy is limited when geolocalizing an AR asset, falling within six meters at best. Besides that, it’s almost impossible to place AR assets indoors. A super detailed map built with the Map2Earn feature can increase the localization precision to only 20 cm. This could enable creators to superimpose AR assets to existing buildings, walls or statues more precisely, generating experiences that weren’t possible before.
Since Map2Earn is a relatively new concept and is still not very popular, it comes with great income-generating opportunities for users who can contribute at an early stage of map creation.
All users have to do is find genuine Metaverse and AR projects creating detailed maps by implementing the Map2Earn model. One of the best examples today is OVER, a decentralized, blockchain-powered infrastructure for the AR Metaverse. The platform merges the physical and virtual worlds to provide unique AR experiences, opening the door to multiple use cases.
The Metaverse is fueled by its native token with the ticker OVR. Holders can use the token to buy OVRLand, a 300-meter-squared hexagonal piece of land that is mapped one-to-one to an actual geographic location and is represented by a nonfungible token.
The goal of OVER is to build the most extensive and detailed Web3-based 3D map of relevant locations across the world, both indoors and outdoors. Map2Earn is playing a key role in this ongoing process. In fact, OVER is the project that has contributed the most to defining and promoting the Map2Earn model.
Anyone with a smartphone can spend about five minutes filming any OVRLand piece to contribute to the map’s creation. By default, every time a user maps a location, they will own the generated data through an NFT (OVRMap), like a crowdsourced version of Google Maps owned by its contributors. Users are also rewarded with OVR tokens for their efforts through competitions and subsidized mapping initiatives. Any OVER user can become a mapper in this way. During the process, users generate three key elements represented by an NFT:
- A 3D point out that gives creators a visual representation of the 3D structure of the location they want to augment.
- AI Neural Render — this feature can be used to create a digital twin of the mapped location.
- Precise geolocalization of AR assets both indoors and outdoors.
The future of Map2Earn
OVER launched the Map2Earn Beta program in December 2022, which can be viewed as the most important trial for the model. It is still an emerging concept and is expected to be implemented by other AR and Metaverse projects looking to empower their communities while boosting the precision of geolocalization.
The precision of the new localization feature will enable creators to link specific digital experiences to physical objects, including buildings, walls and statues. For example, one can bring a statue to life thanks to 3D animation or deploy unique experiences on each floor of a multi-storey building as part of the AR journey.
Map2Earn is a powerful model poised to help merge the physical and virtual worlds at an accelerated pace.
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