What is Highstreet? All You Need to Know About HIGH

Introduction

Highstreet has emerged as a captivating project in the burgeoning web3 space that incorporates blockchain-based gaming, e-commerce, and the metaverse. As technology advances and the desire for immersive experiences grows, Highstreet has carved a niche by offering a unique blend of play-to-earn mechanics, real-world brand collaborations, and a thriving ecosystem where digital and physical realms intertwine.

This article takes a close look at Highstreet and explores why it is a significant player in the metaverse. It breaks down different aspects of Highstreet that contribute to its influence in the virtual world. From the mechanism and immersive gameplay experiences to the utility and tokenomics of the HIGH token.

What is Highstreet?

Source: Highstreet

Highstreet is an innovative platform that integrates shopping, gaming, NFTs, and traditional brands, providing users with an immersive experience that combines exploration, and entertainment within a decentralized metaverse. It allows brands to transform their products into gaming collectibles while providing players with a unique virtual shopping adventure that extends into the physical world. Highstreet prioritizes interoperability, partnering with key players in the web3 industry to enhance the user experience within the metaverse.

Highstreet also embraces the popularity of non-fungible tokens (NFTs) and enables brands to create their NFTs for engaging their audience and fostering customer loyalty. With its growing presence online and offline, Highstreet’s metaverse expands through land sales and captures the imagination of players worldwide, bridging real-world fashion with in-game customization and offering a robust foundation for immersive gameplay experiences.

Founders of Highstreet Metaverse Game

Highstreet was established in 2015 by its visionary founders, Travis Wu, and Jenny Guo. Travis Wu brings extensive expertise in the realm of virtual reality, having previously co-founded LumiereVR, a prominent VR company with successful projects spanning the United States, Canada, and China. Alongside his background in virtual reality, Wu is renowned as a prolific investor in the crypto and web3 space, showcasing his deep understanding of emerging technologies and their potential to reshape industries.

Complementing Wu’s background, Jenny Guo brings her remarkable achievements and recognition as a Forbes 30 Under 30 honoree. Together, Wu and Guo have been instrumental in driving the vision of Highstreet forward, leveraging their diverse skill sets and industry knowledge to redefine the retail experience within the metaverse.

The Highstreet Ecosystem

Highstreet World

Highstreet World is the heart of the Highstreet ecosystem because it houses other components of the ecosystem. It offers an expansive metaverse that combines gaming, NFTs, traditional brands, and crypto brands to create a captivating MMORPG (Massively Multiplayer Online Role-Playing Game) experience. Within this virtual world, users have the opportunity to engage in quests, participate in social events, interact with fellow players, and purchase NFTs from renowned real-world brands.

Highstreet World provides a fully immersive gameplay environment where users can enjoy themselves, discover new areas, and receive valuable rewards. It offers gameplay options for virtual reality (VR) and personal computer (PC) platforms. Locations on Highstreet World include Highstreet City, Animoca Archipelago, Avax Alps, Land of Tomorrow, etc.

Highstreet Market

Source: Highstreet

The Highstreet Market is a key feature within the game that provides players with a virtual marketplace to engage in buying and selling phygital products and NFTs. It offers various virtual goods and assets, including exclusive digital merchandise, fashion items, and accessories from real-world and crypto brands. It is a place where people can be part of the Highstreet digital economy.

Highstreet Lands and Homes

Highstreet World offers users the chance to purchase virtual homes and acquire land within the game. Through Initial Home Offerings (IHOs), users can personalize and own Highstreet Homes located in different areas of Highstreet World. The Highstreet Land is divided into various sizes, from single hexes to megaplexes, which can be commissioned by real-world brands to develop in-game infrastructure like shops, clubs, homes, and unique experiences.

Forever Fomo Duck Squad (Ducks)

Source: Opensea

The Ducks serve as the avatar NFT and the official mascot of Highstreet World. They offer various functionalities, including 2D-to-3D transformations, in-game access to an exclusive FOMO Duck club, and opportunities to participate in exclusive merchandise drops and vault openings.

How Does Highstreet Work?

Highstreet operates at the intersection of various innovative concepts and technologies, including the Play-to-Earn model, the Phygital concept, Product tokenization, Street Smart Bonding Curves, and VR technology.

Play-To-Earn Model

Play-To-Earn represents a model where the in-game currency possesses real-world value and holds the ability to be traded on public exchanges. This system allows for the withdrawal of funds from the game, establishing a two-way currency flow between the virtual and real worlds. Highstreet takes this concept further by not only enabling currency flow but also allowing products and in-game items to move between realms.

Phygital Concept

Source: Highstreet

The concept of “phygital” is central to Highstreet, where products have both a physical and digital component. One illustration of this is how a shirt within the game can transform into armor for the player’s virtual character or avatar, while the actual shirt can be sent to the player if they decide to redeem it. This fusion of digital and physical elements enriches the gaming journey and offers real-world rewards to players.

Product Tokenization in the Highstreet Marketplace

Source: Highstreet

Highstreet Marketplace focuses on limited edition goods, often featuring collaborations between celebrity-led brands and established artists. It also encourages the community to use its marketplace for product launches or to establish new brands.

Source: Highstreet

Products are tokenized as ERC 721 NFTs, divided into two fractions. For example, a $35 Panty may be divided into a $5 digital fraction and a $30 physical fraction. Players can purchase the digital fraction to access the in-game wearable version of the product. If they choose to do so, they can also purchase the physical fraction, which triggers an order on the brand’s e-commerce backend. The real product will then be shipped to the player’s address.

Street Smart Bonding Curves

Highstreet’s Street Smart bonding curves solve a common problem in the world of NFTs which is that a lot of people end up with NFTs that they cannot easily sell because there is no demand for them. However, Highstreet changes this by using a smart pricing system whereby with every NFT purchase, the price gradually rises, guaranteeing sufficient funds for individuals seeking to sell their NFTs. Highstreet also makes things easier for collectors because, instead of dealing with complicated processes, they can simply burn their tokens to get the physical product shipped directly from the brand to them. This feature provides a safer and more convenient experience for participants in the NFT market

Highstreet VR Technology

Highstreet VR technology focuses on creating a great virtual reality (VR) experience by combining immersive virtual worlds with the latest VR hardware. They work closely with top manufacturers like HTC to improve their platform. Highstreet uses special software called Tafi Avatar to represent users’ body movements in the virtual world accurately. They also explore other tools to customize avatars and make the experience even better. Highstreet makes sure that players can interact with each other by using a game engine called Unity Multiplay. This engine keeps everyone’s movements synchronized and allows for smooth communication. They also use a technology called gaze analytics to collect useful data and improve the VR experience.

Advantages of Highstreet

• Unique Shopping Experience: Highstreet offers a fun-filled and rewarding shopping experience.
• Brand Integration and Profit: Highstreet allows brands to integrate, establish a presence, and profit in the Highstreet World.
• Creative Expression and Customization: Highstreet empowers players to customize avatars, homes, and properties, expressing unique identities.
• Community and Social Interactions: Highstreet fosters a vibrant community for socializing and forming connections.

Disadvantages of Highstreet

• Learning Curve: Complex metaverse, requires time and effort to understand.
• Technical Requirements: Specific hardware, internet, and VR equipment may be necessary.
• Market Volatility: Cryptocurrency and NFT values can fluctuate, affecting rewards.
• Limited Availability: Being a developing project, it may have limited features, experiences, and platforms accessible to users.

What is HIGH Token?

Source: Highstreet

The HIGH token is the native utility token of Highstreet and exists as either an ERC-20 token on the Ethereum network or as a BEP-20 token on the BNB Chain serving multiple purposes within the Highstreet ecosystem. It is essential for in-game access, enabling progression, and granting admission to special events.

HIGH tokens can be used as currency to acquire exclusive items such as real estate and limited edition products from the Highstreet Marketplace. HIGH holders can actively participate in governance by creating and voting on on-chain proposals that shape the future of Highstreet.

What is STREET Cred?

Source: Highstreet

STREET Cred is an in-game token within the Highstreet World, earned through gameplay actions like monster hunting and quests. It is used for commerce, buying from NPC Fomo Ducks, and peer-to-peer trades. STREET Cred is also spent on in-game entertainment, such as bidding for songs in Highstreet Clubs and purchasing various items. It is a crucial currency that enhances the gameplay experience in Highstreet World.

Tokenomics of HIGH

The token economy of Highstreet is managed and developed to create a balanced gaming ecosystem while incorporating the use of blockchain technology. This unique approach allows players to not only enjoy the gameplay but also earn rewards through the game’s dual currencies: HIGH Tokens and STREET Cred.

The HIGH token has a total supply of 100 million. The allocation is as follows: 1% is distributed through an equity airdrop, 5% is dedicated to the initial DEX offering (IDO), 10% is vested with the team, 30% is allotted to investors, and 54% is held in treasury.

On the other hand, STREET Cred operates differently as an in-game currency that players can earn by playing the game. Unlike HIGH Tokens, the supply of STREET Cred can increase as more people join and play the game. This dynamic supply allows the amount of STREET Cred available in the game to grow over time.

It is interesting that the STREET CRED can be used to purchase digital and real-world items. Players can use their tokens to buy virtual items for their game characters and to purchase real-world products that can be shipped to their doorstep.

The combination of a fixed supply currency like HIGH token and an increasing supply currency like STREET Cred, along with the ability to buy digital and physical items, distinguishes the economy of Highstreet World from other metaverse games. Further, a multi-token system is not uncommon in the world of cryptocurrencies, as seen in games like “Axie Infinity” and “Star Atlas.”

STREET Cred is however not an ERC-20 token and is exclusive to the Highstreet gaming ecosystem. While players can acquire STREET Cred using HIGH token, only authorized merchants can convert it to HIGH tokens.

Recent Developments

Formula FOMO: Animoca RV Racing Rally

On May 4, 2023, Highstreet announced the Formula FOMO: Animoca RV Racing Rally, a thrilling event taking place from May 15 to May 21, 2023. The rally is hosted in the Animoca Archipelago and Circuit de Monaco, offering participants the opportunity to compete for up to 50,000 HIGH tokens and a chance to win a ticket package worth over $10,000 to the in-person event at the 2023 Monaco Grand Prix from May 25 to 29. The festival encompasses community challenges, pre-race qualifiers, a rally race, and a podium ceremony.

Highstreet Partners with BNV Fashion

Highstreet partners with BNV, a platform known for its expertise in fashion NFT development. The collaboration brings BNV Fashion to Highstreet World, providing the Highstreet community access to exclusive designer-brand digital wearables. To enhance the fashion experience, BNV will establish a dedicated storefront within Highstreet World, catering to designers, brands, and fashion enthusiasts within the community.

Is Highstreet (HIGH) a Good Investment?

Highstreet (HIGH) presents an enticing investment opportunity due to its unique blend of immersive gaming experiences, real-world brand collaborations, and the integration of NFTs. The project’s Play-To-Earn model, Phygital concept, and emphasis on brand integration contribute to its appeal.

Furthermore, the HIGH token holds promising prospects for investors, with the potential for increased demand driven by factors such as successful brand collaborations, innovative gameplay features, ecosystem expansion, increased user engagement, and positive industry developments. Before considering the HIGH token or any cryptocurrency investment, investors must diligently research, evaluate their investment objectives, and acknowledge the inherent risks involved.

How to Own HIGH

To own HIGH, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account, and get it verified and funded. Then you are ready to go through the steps to buy HIGH.

Useful References

For the latest updates about Highstreet (HIGH), you can visit:

• The official website
• Twitter
• Telegram
• Medium
• Discord
• GitHub

Take Action on HIGH

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• HIGH/USDT

Source: Gate.io