Map2Earn is going to play an essential role in augmented reality and the Metaverse.
It has been reported that both are multibillion-dollar markets and are expected to expand rapidly in the following years. Some analysts expect the Metaverse market to exceed the $1 trillion mark by 2030.
However, the AR and virtual reality market may grow to about $500 billion by that time. Many AR and Metaverse use cases involve simulations of a map. The ecosystem will soon require Google Map-like alternatives.
The report said that the Map2Earn model will accelerate the creation of quality 3D maps with the help of communities, with participants being incentivized for their effort. While the requirements differ from case to case, most often, users are invited to take pictures of physical locations with their smartphones.
Likewise, Map2Earn has some great benefits that anyone with a smartphone can leverage. Unlike other similar trendy economic models, such as P2E and move-to-earn, which require more effort, Map2Earn can reward users simply for taking a few shots while taking a walk, going to the office or traveling for fun.
One of the problems with most virtual world projects is that GPS accuracy is limited when geolocalizing an AR asset, falling within six meters at best. Besides that, it’s almost impossible to place AR assets indoors. A super detailed map built with the Map2Earn feature can increase the localization precision to only 20 cm. This could enable creators to superimpose AR assets to existing buildings, walls or statues more precisely, generating experiences that weren’t possible before.
Thus, the Metaverse is fueled by its native token with the ticker OVR. Holders can use the token to buy OVRLand, a 300-meter-squared hexagonal piece of land that is mapped one-to-one to an actual geographic location and is represented by a nonfungible token.