MetaFabric, a next-generation messaging service, has debuted the first of its Metaverse IDs. A new type of digital identity created expressly for use in the virtual world.
The IDs will serve as the platform’s backbone, allowing users to connect all aspects of their digital persona. This is accomplished through the use of an NFT, which symbolizes a unique handle and web address. Users can then customize this character with a variety of digital decorations.
When completely implemented, the goal is to provide a single hub for accessing and storing digital products such as wallets, NFTs, avatars, and personal data, resulting in a rapid and efficient entry point to the metaverse where the information contained within belongs only to the owner.
The launch is divided into two stages, the first of which is presently happening in the form of a Dutch auction. Prices begin at $1000 and will gradually decrease until they reach a plateau, with the final figure determining the price for the second phase, a public sale. However, because user IDs are completely unique, the most popular names will be the first to vanish.
Users must have an ETH wallet loaded with $FABRIC, the platform’s native coin, in order to participate. Then go to the MetaFabric website to generate the user ID. The fee paid, however (excluding gas), will be burned by the MetaFabric team, reducing the total number of tokens in circulation.