For us at Metagate, OVER the Reality is currently the metaverse we are developing the most on. In fact, from our point of view, Augmented Reality offers many more use cases than Virtual Reality, and OVER the Reality is the only metaverse that is pushing in this direction. The solution he proposes allows you to geolocalize AR experiences without scanning qrcode or using links; this is possible by scanning the location in advance (map2earn function), recreating within the metaverse Unity builder, a neural map on which to build the experiences and which will then be recognized by the end user's device. To do this, the globe was divided into 300M2 hexagons: OVER's NFT lands. These Lands can be purchased (starting from $10) or rented to load AR (or even VR) experiences.
From our point of view, this dynamic makes the OVER lands very interesting for 2 reasons in particular:
1. They allow us to experiment and create at a very low cost
2. They insist on real-world geolocations with everything located there. This in our opinion makes certain lands certainly more attractive than others (the lands near the Colosseum will certainly be worth more than those in the middle of the ocean). This also frees us from the risk of purchasing land whose value is dictated only by proximity to other important brands (dominant dynamic over other metaverses)
(A side reflection is that the sole sale of these lands allows OVER to have revenues unrelated to the development of the single project on its platform; it may seem trivial but this allows the OVER developers to concentrate on the development of the platform and not of the individual events .)
Why we developed this tool
We decided to develop this tool because it was primarily for ourselves. A big difficulty in investing in Metaverse Real Estate is finding the right information to carry out a market analysis as is customary for real estate valuations in the real world. In particular for the OVER lands this problem was particularly significant due to the geographical correspondence of the Lands with the real world.
Therefore, being able to precisely track which geographical areas are attracting the most investors or which ones have still unexpressed potential can certainly be useful for us to best define our value proposition on the individual customer who will inevitably have some geolocalised interest in some part of the globe.
The identification of anomalies or particular opportunities on the global market could also become an important use case. Finally, the possibility of monitoring the market by identifying its trends gives us the possibility of creating customized reports which can be of great interest for those wishing to invest in OVER or need to carry out a comparative analysis with other metaverses.
The development of this dashboard was in fact an investment for Metagate, but above all it required time to identify the data sources, collect the necessary skills and tools, integrate them and create the final UX. A company that wants to enter the market may not have such budget resources, skills or time; which is why we propose ourselves as suppliers of such reports.
Thanks to our dashboard we are currently able to analyze Land trades on OVER by filtering by:
1. Date range
2. Continent, state, city
3. Primary or secondary market
4. Single wallet
5. Pricing in OVR or USD
We also monitor some data that OVER releases with a monthly history only, in order to give depth to the historical evolution of this data (number of scans with map2earn, number of scenes loaded, number of total OVR-Lands owners). Eventually we would like to extend the service to also monitor Land rentals on OVER and/or monitor Land sales on other metaverses.
How we developed it
For development we have systematized skills and knowledge already present in Metagate, with the skills of Samuel Church, developer Solidity which lent itself to collaboration for the creation of this dashboard. To collect the data we reviewed the OVER documentation identifying some main data sources:
1. The OVER website
2. The Polygon blockchain
3. The IPFS protocol
4. Token pricing platforms
5. Geographic databases
Each of these data sources naturally required a different approach and sometimes specific skills. The integration of all this data was instead possible thanks to business intelligence software which allowed us not only to integrate the different databases, but also to insert specific and transversal filters, as well as recalculate specific KPIs for the use case in question.
It is important to underline that we have set up the job so as not to have to re-download all the data every time but updating the database only with the missing data. This is because land sales on OVER have already exceeded 800k transactions and assuming an increasing pace of the same it was unthinkable to always start from scratch.