SushiSwap Metaverse 101: All you need to know
SushiSwap is an acclaimed decentralised exchange (DEX) which is transforming into an ecosystem of DApps. Unlike many other DEXs, it does not only support Ethereum but several different blockchains. This interoperability gives SushiSwap an edge over its competitors.
One of its innovative services is the SushiSwap Metaverse. The unique thing about this is that it is an intermix of the NFT marketplace and the Metaverse. Its ecosystem is entirely backed by Sushi and is built to serve both; artists and art collectors.
This article will discuss everything you need to know about the SushiSwap Metaverse!
The ShushiSwap Metaverse - Shōyu
The SushiSwap Metaverse is named Shōyu and was launched in November 2021. The platform, which merges the 3D virtual environment and an NFT marketplace, is shaped by the decentralised Finance (DeFi) firm Sushi on the Ethereum mainnet. It works like an Automated Market Maker but also has cross-chain features. It can support L2 solutions like Polygon.
It introduces 3D art galleries, where art appreciators can participate in exhibitions via VR devices. Collectors and artists can communicate with each other in a virtual setting, creating a dynamic experience for all.
You are also able to trade your NFTs via these 3D galleries. You can bid in several ways, including English auction, Dutch auction, or simply buying at the fixed price. It also creates accessibility for the collectors by introducing NFT shares.
Features of SushiSwap Metaverse
Compatible with the Sushi ecosystem Shoyu, the NFT marketplace and Metaverse, is powered by the Sushi platform. This makes it a unique platform that combines DeFi with art. Moreover, Sushi has helped Shoyu to deviate from the conventional structure of marketplaces. It has introduced the 3D immersive environment of Metaverse in NFT trading.
3D art galleries
As this NFT platform also shares the features of a Metaverse, it also has 3D art galleries. Artists can showcase their digital art collection in a customised, immersive environment. It changes the traditional grid-like display of collectables to more like a real exhibition mode. For this purpose, it supports various VR devices to make them more accessible for the collectors.
On this platform, you can also have shares in a non-fungible token. As NFTs are quite expensive, not all art lovers can afford them. It solves this problem of inaccessibility by introducing NFT shares. That’s why multiple collectors can claim part ownership of an NFT simultaneously, and its price is shared among them.
Low gas fees
A low transaction fee is another advantage of using SushiSwap Metaverse. It is an automated market maker (AMM) on the Ethereum blockchain with the multi-chain feature. This allows the platform to support several L2 protocols like Polygon. These solutions are much cheaper and less congested in comparison to Ethereum. That’s why you can enjoy cheaper transactions on it.
The L2 solutions also make it an eco-friendly option. Since Ethereum’s main net consumes more energy, it has more emissions. So, it takes operations off the Ethereum blockchain to other energy-efficient blockchains.
Shōyu by Sushi is a highly dynamic NFT market that incorporates virtual reality experiences for both; artists and collectors. It has revolutionised the traditional setup of NFT marketplaces. Besides, it creates more accessibility for digital art collectors by offering the option of acquiring shares in a digital art token.
In addition, it has cross-chain features too. Therefore, it can support the Polygon network, which allows lower gas fees and is eco-friendly. Because of such features, the SushiSwap Metaverse is a novel alternative to popular NFT marketplaces.
Author: Wasay Ali
Wasay Ali is a versatile professional writer with global experience and a background in mechanical engineering and social science. He is adept at crafting news and informational content for the crypto space and has experience writing for other niches. He is a professional SEO content writer who has worked with several digital marketing agencies and clients in the US, UK, Pakistan, and Europe. He is a dedicated volunteer and enjoys reading, writing, poetry, and going to the gym. He is an INFJ-A personality type dedicated to positively impacting the world. Wasay has a passion for writing as it allows him to express his creativity, share his knowledge, and connect with people worldwide.