P.S:- The article is not financial advice
My friend Oliver Jones Music has a new Earth 2 song that shares its title with this article (link to the song at the end of the article). Once an Earth 2 dev (ex-dev now) casually mentioned:- 'If you are rich on Earth 2 you won't be poor on Earth 1'. Those words may just be taking shape.
Consider the recent developments and announcements made around Earth2's first anniversary. Put all these together and you have new millionaires in the making right here on Earth2. But let's see the top 4 big game-changers:-
1. Essence - The new Metaverse Crypto
The long-awaited native token of Earth 2 was announced in addition to the retrospective rewards in the form of promised Essence. For several weeks before it was announced, I had pointed out why Essence is the perfect token for Earth2 and also added it in one of my recent articles last month (read here:- https://www.e2.news/post/more-essence-than-outstanding-earth2-tiles). More importantly, Earth 2 has kept it simple and you have one currency on the platform which makes it easy to transact and support a vibrant economy on Earth 2.
2. Land Tiering If I'll be honest, it took me a while to come to terms with what this means for Earth2 and whether there are unforeseen risks with Tiering. For example, one of the big utilities of land is the ability to build on it or the location aspect of the plot where its located. Therefore, being able to purchase Tier-2 land at 1/100th cost - whether it dilutes the desirability of Tier-1 Land.
However, a closer look might reveal why Tiering could work.
First, there are several exclusive benefits to Tier-1 land - Jewel Production (boost resources, +2 Ether boost, etc), Guaranteed Essence conversion, etc. - but one of the most important benefits is full access to 'Governance'. This might be a footnote at present in the long list of T1 land benefits, however, its value will increasingly become apparent as the platform grows. Consider this similar to the voting right class shares of a listed company.
Tiering also enables more users to participate in land ownership and who simply want to build within Earth 2. This allows the platform to grow in terms of landholders but more importantly, it gets them 'invested' in Earth 2. For Earth 2 to become truly successful, attract meaningful ad dollars down the line, or simply put to build and grow its ecosystem revenue - the platform would need tens of million users. Just a quick look at Roblox's numbers would make one realize this. Roblox is on-course to pay its developers (people who create experiences inside Roblox) over $500 million this year alone. Such numbers would not have been possible without Roblox's hundreds of millions of monthly active users.
3. Blockchain Partnership, Decentralization - and why Polygon is perfect
A few days before this announcement, I was arguing (in Earth 2 discord VC) why Polygon is the perfect blockchain for Earth 2. Low gas fees, and more importantly exposure to the vast Ethereum ecosystem - largest by a massive margin compared to any other blockchain ecosystem. To learn more about polygon and why I say it's perfect see - https://polygon.technology.
Consider the opportunity - massive digital assets will be created inside Earth 2, many of them user-generated. Many of these assets could form the bedrock of the Earth2 economy in future. With a chain like Polygon, it would be easy and cost-effective to list them or move them around. All this with access to the massive crypto/ NFT community already transacting on Polygon and Ethereum.
Finally, the blockchain paves the way to decentralize Earth 2 which enables it to evolve as a community-driven Metaverse project, which could be very desirable from a value creation perspective.
4. Crypto Deposits
For the longest of times, this has been at the top of the wish-list for many Earth 2 users, and to be honest its really a no-brainer (See:- https://www.e2.news/post/crypto-deposits)
While Shane has hinted at BTC deposits and says they have contracts in place, maybe more could follow in future. However, enabling BTC itself will be huge or for that matter any top crypto. We already know there is so much capital sitting in crypto - it's only a matter of time before this door unlocks and the demand for Earth 2 land and other assets could increase massively.
So, are you ready to be the Earth 2 millionaire? - the journey has already begun. Until then enjoy this great piece from OJM