NEW PROJECT: The Meta Key
Mr. Fox breaks down the latest addition to his NFT collection, The Meta Key.
Hello all and welcome back. I have been travelling and haven’t been able to write as much as I’ve wanted, but today I am happy to bring you a new NFT investment that is not a digital avatar.
Remember that this is not financial advice, you should do your own research into anything you put your money into and should not make investment decisions simply based off of what Mr. Fox does. That being said, today I present The Meta Key.
In order to fully understand the potential of The Meta Key, you have to have a basic understanding of the concept it was created for - The Metaverse. I have addressed The Metaverse in the past, but let’s go over it again in a little bit more depth.
The Metaverse is the future of the internet and digital world. If you are serious about taking full advantage of the generational wealth that is about to be built in crypto, you should watch Steven Spielberg’s READY PLAYER ONE released only a few years ago. I rewatched it on the plane and I must say it is the perfect depiction of our prospective future in The Metaverse. The film will be studied by future generations.
Let’s paint a little bit of a picture of what The Metaverse will look like if you haven’t watched the movie.
To get to The Metaverse, you will be in a room in your physical world house and put on a Virtual Reality headset (think Facebook’s Oculus). You’ll be transported to a massive lobby where you’ll have the choice to transport to any of the likely millions of places that will be available to you. You can meet friends to watch movies, play in fully immersed shooting games, go to dance clubs, theme parks, everything and anything.
And what will you look like? We’ve talked about this before - you will be wearing your digital avatar and so will all your friends. Your entire library of clothing and personal possessions will be available to pull up at the snap of your finger (they will all be NFTs in your wallet). They will follow you wherever you go.
Social media and other personal technologies will be readily available floating above and around the head’s of everybody in The Metaverse should you want to look through them.
People will make full-time incomes in The Metaverse, servicing amenities, building on virtual land, renting out their plots of land, etc.
Our real world will also change through Augmented Reality. Augmented Reality contact lenses will be the norm, where parts of our world will augment digitally. Old buildings will be updated through computer-generated facelifts, people will sport digital hairstyles and clothing, and nature will even be represented, all visible through the contact lenses.
But why do we need this? The opening lines of READY PLAYER ONE tell us:
“People come to The Oasis for all the things they can do, but they stay because of all the things they can be. Tall, beautiful, scary, a different sex, a different species, live-action, cartoon. It’s all your call”.
The Metaverse is the great equalizer, a blank slate. It matters zero who you are and where you come from in the real world, The Metaverse offers the chance to build anew. It also gives us the chance to express ourselves in all the ways we can’t in the real world.
And people are already preparing for this reality. A digital version of Gucci’s Dionysus bag sold in Roblox’s digital universe for $4,115, more than the price of the physcial item. Balenciaga presented its Fall 2021 collection within a playable video game, and companies like RTFKT Inc. are already selling digital sneakers that pair with an identical real world pair as well. 1
Ok, so you understand at least loosely what The Metaverse is. What’s this new project Mr. Fox is invested in to help him in The Metaverse then?
It’s called The Meta Key, and it was created by one of the leading minds in the NFT and Metaverse world, Matty (@DCLBlogger on Twitter) (No, I do not know his last name, this is NFT world).
What does The Meta Key do? It’s an access token. One Meta Key will give you access to hundreds of areas, collectibles, and communities in The Metaverse. The Meta Key is focused on building as many partnerships with Metaverse brands and companies to give holders of a Meta Key as much utility as possible.
Their slogan: “1 key, 100+ use cases”.
The Meta Key is not limited to digital world uses, they are also working on giving holders access to courses, ad space, special discord servers and groups, and access to different data.
They are building lots of utility for Metaverse avatar clothing, including allowing you to print exclusive designs with Metaverse merchandise designer The Metafactory, get wearables across Virtual worlds, and explore other physical-digital integrations.
In terms of virtual games and experiences, you can have access to special cars, special weapons, access to VIP rooms, and perks across the biggest digital universes.
The Meta Key will also partner with existing and new NFT brands to give holders discounts and airdrops (what is an airdrop you ask? I wrote an article about them that you can find here).
As you may be sensing, this seems to be more of a utility play than a collectible play, which would be an accurate assumption with the information you’ve been given.
The Meta Key has also added value to their key(s) from a collectible angle by releasing the keys in different editions with different supply and designed by famous digital artists. The first Meta Key was known as Genesis, and there were only 500 released. Edition 2 and Edition 3 have both since released, with 750 and 1000 keys released, respectively. The only difference between each key is its respective supply and design + designer. In terms of utility and access, all keys are the same. You will get the same perks from a Meta Key a part of the Genesis Set as you will a Meta Key released as part of the seventh edition.
All of this information can be found on their website, themetakey.com.
Now to the buying. The Meta Key releases each new edition on their website. Once they sell out, they move to the secondary market on sites such as OpenSea where they sell at the price set by the market of holders.
I recently bought Edition 3 of The Meta Key for 0.35 ETH on the secondary market, a 0.15 ETH premium for what they were sold for initially. In the few days since, the market price of an Edition 3 rose as high as 1.5 ETH before coming down to 0.95 ETH at the time of writing.
How do you make your decision? It depends on how much risk you want to take. If you’d like to hold a Meta Key to simply collect its perks, you should wait till they release their Edition 4, which you’ll be able to pick up for somewhere around 0.2 ETH. If you want the perks as well as a greater chance of future appreciation, you should buy one of the first three editions available on secondary markets. As demand for Meta Keys increase over time, the ones most scarce will experience the most growth in price.
The Meta Key is the project which I am currently most bullish on. I think the team is one of the best in crypto and the concept has extreme long-run potential. We are talking about a Key to The Metaverse created by one of the biggest minds in The Metaverse. Apart from its obvious value, many of its holders are not in it to flip the Keys, they are here to hold for a long time. I think this has a positive affect on price as demand increases. Finally, the community is so intelligent. The best minds in NFT are holding and getting involved in Meta Keys.
You can look through Meta Keys on OpenSea. Remember to always buy from verified collections, there are lots of people looking to scam out there.
As always, if you have any questions please reach out by email or Twitter (@f4ntast1cmrf0x). Please send the newsletter to anybody you think would find value in it.
Further, if you would like to get involved in investing in NFTs seriously but don’t have the time to properly research, contact me and we can potentially set up a scenario where I manage your money.
And down the Rabbit Hole we continue.
Mr. Fox.
https://www.bloomberg.com/news/features/2021-06-16/non-fungible-tokens-and-the-metaverse-are-digital-fashion-s-next-frontiers