Somnia Unlocks New Metaverse Use-Cases and Experiences

22 Jun 2024

Somnia’s high performance blockchain and set of omni-chain protocols will unlock a whole new world of use cases and experiences. This includes on-chain AI, efficient asset trading, dynamic marketplaces for user-generated content, new utility for NFTs and much more. 

On-chain agents

With the performance characteristics of the Somnia blockchain, more logic that currently exists off-chain can finally be moved on-chain.

This could give rise to AI that operate on-chain. This AI could move between virtual worlds, interacting with users and other AI. This can get very interesting on-chain, because now AI can actually have their own wallets and become economically active. What will they get into? 

Onchain central limit order book

Somnia’s high-performance blockchain can also improve trading. Current on-chain exchanges have taken an Automated Market Maker (AMM) approach. This AMM creates liquidity pools (LPs) of two assets, both valued relative to each other.

As one asset is traded for the other, the relative prices of the two assets shift, and a new market rate for both is determined. In this dynamic, a buyer or seller trades directly with the pool. On the other hand, centralized exchanges use a Central Limit Order Book (CLOB) system where buyers and sellers put in their bid and offer for an asset and are matched.

The reason they do this is because it creates a much better user experience with more efficient and accurately priced trades. The problem today is that blockchains are not performant enough to put a CLOB on a chain.

Somnia will have the capabilities to run these kinds of order books, allowing users to trade between on chain assets efficiently. This feature will be essential in a metaverse ecosystem with many different worlds and currencies, and is just another example of how Somnia will enable interoperability between various platforms. 

New marketplace for components of objects

Somnia’s protocols will enable an explosion of user-generated content, which will lead to the development of new marketplaces. The Somnia protocol allows composability of logic and state. This essentially means that creators can now make building blocks which others can use to more easily create new things.

Imagine creators building elements like digital instruments, stages and lights that other creators can put together to create a metaverse concert. These components can be modified and used by others and the creator will be able to gain royalties for this, or they can even sell the components if they want.

Upgradeable and dynamic NFTs

Upgradeable NFTs: Somnia can upgrade existing 2D NFTs, giving them a soul in the metaverse as 3D objects, and is currently offering free upgrades to established NFT projects. Now NFT collectors can explore the metaverse as their favorite profile picture NFT, and builders can create metaverse themes based on existing collections. Imagine the top NFT collections running around in the unified metaverse, or building worlds with themes centered around these collections.

Dynamic NFTs: By extending existing NFTs, Somnia’s protocols could enable them to have dynamically updatable metadata. This would allow the NFT to change over time giving in new characteristics and rarity. Imagine a tradable creature that evolves as a player uses it in an experience.

The future

This is only the beginning. With these new capabilities, the hive mind of Somniacs will be able to build experiences that no boardroom or focus group could come up with. Come join our community and share your vision of the metaverse, and check out our litepaper to learn more about the project!

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