Impossible Finance Research Report #4 – Highstreet
Dearest Bulls,
Dearest Bulls,
Introducing Highstreet, a commerce-centric metaverse that allows players to explore a vast MMORPG world where in-game items are real products by real brands.
In 2020 alone the gaming virtual goods market in the US was estimated to be a $40 billion market annually. These are in-game items that provide users with a visually appealing aesthetic to lay over their in-game items. CS:GO or Fortnite, for example, are prime examples of games that create a market entirely based on aesthetics; however, there’s a caveat: it only exists within a closed space only available to users while playing the game. All this begs the question of whether this is worth “true value” out of the context of Fortnite.
What if a user is able to bring items from the likes of Fortnite or CS:GO to create an identity built in the Metaverse? Similarly, what if physical goods like a pair of Jordans create a part of your digital identity in the Metaverse and in real life?
During the pandemic, we’ve been edging closer to a virtual reality, spending countless hours at home, and mostly online. This is why the Metaverse is going to change the way we fundamentally interact, and others are already catching on as sales of digital lands are returning close to a million dollars in Decentraland.
Project Overview
“In a virtual world, brand expression is limitless, bound not by building costs nor physics. The ultimate retail experience will debut soon, right here on Highstreet,” said Travis Wu, CEO of Highstreet.”
Highstreet is building the first metaverse that combines virtual reality and crypto, allowing brands to interact with users. From a user’s perspective, it should feel just like any other MMORPG game, with monsters to fight, quests to complete, with the only exception that the shops within the world are very much real products from real brands and that it’s built with native VR support. What the Metaverse needs is a bridge to blur the lines between the digital and physical realms. Impossible’s fourth IDO launchpad project, Highstreet (HIGH) is how we envision life in the Metaverse should be.
Highstreet’s metaverse consists of islands and residential areas, providing accessibility to gaming, entertainment, real estate, crypto and more. Users can also purchase physical and digital products sold as NFTs. Highstreet just launched their own NFT series, FOMO Duck, that is also their mascot within the Highstreet metaverse.
With Highstreet, we’re beginning to actually see movies like ‘Ready Player One’ come into life. Users can shop, earn and interact together with friends in a growing metaverse. Citizens of Highstreet’s metaverse will be able to earn $HIGH by playing their favorite games through our unique proof-of-play system. Plus, $HIGH can be spent on purchases of some of the hottest goods in the world.
Project Highlights
Investors include HTC, Palmdrive Capital, Cherubic Ventures, Mechanism, GBV, Jump Trading, and NGC
Quick Metrics
Public Sale Price: 1.00 BUSD
Total Token Supply: 100,000,000
Launchpad Sale (Unlimited Pool & Standard Pool): 1,000,000 USD
Investment Thesis
The Highstreet IDO is Impossible’s first step in our journey to redefine the future of markets for collectible products and set a bar for our NFT staking track in the future.
Play-to-Earn
To incentivize users and players to ‘live’ on the Highstreet platform, Highstreet is committed to developing Play-to-Earn (P2E) games within the metaverse. These games enable users to play the game and earn a reliable source of income, a concept that has been familiar to crypto natives but has started to attract a much larger crowd.
For example, Axie Infinity, a P2E game that has garnered a lot of attention lately, has recently closed a $152 million Series B round, at a valuation of roughly $3 billion. Daily players of Axie can make roughly $1,665 in monthly earnings, which is especially attractive for players in countries like Malaysia and Philippines, who on average typically expect to earn a monthly minimum wage of $285 and $254 respectively.
We’re excited to see what Highstreet can bring to the table for the Play to Earn economy, by adding physical goods into the equation, and a cohesive metaverse that enables an immersive and rewarding economy for its users.
Immersive Shopper Experience
Within Highstreet, anything is possible. Brands can curate an entirely customized experience, and products can be a combination of digital and physical goods. This is significant because it was extremely difficult to justify value for previous virtual merchandise.
Highstreet is a key bridge for e-commerce to succeed in the Metaverse, with the ability to upgrade users from 2D online shopping to a fully immersive experience, even beyond the boundaries of a physical store, disregarding any laws of physics.
E-Commerce for Metaverse
Highstreet manages the entire value chain from price discovery to logistics. Price discovery is standardized, fair and transparent. Liquidity is guaranteed through StreetSmart, a set of bonding curves designed by Highstreet, which ensures buy-back of any digital or physical product at the given price, thus providing a solution for commerce that is fast, smooth, easy, and fair.
We’re also excited about what the metaverse can offer for e-commerce. Highstreet is working on a collaboration with Animoca that can bring Formula 1 racing to the metaverse with virtual cars. Imagine if we can live in a world where we can race F1 in a Ferrari on Highstreet and be able to purchase the car within the metaverse, at a market price, and have it shipped right to your door.
Truly Authenticated Products
Highstreet not only reimagines the high-end and luxury purchase but also guarantees authenticity. Products come directly from the brands themselves which remedies concerns over authenticity and third-party handling.
Confidence in a Team of VR Veterans
At Impossible Finance, we are strong believers that a team’s ability to BUIDL is the most integral part of what makes a project successful, and at Highstreet this is no different. The core team has been together for 6 years, initially starting off as a traditional equity-based VR company called LumiereVR. Within those 6 years, the team has built experiences for various household names from brands like Hershey’s Chocolate to Victoria’s Secret, L’Oreal, and Madison Square Garden. This level of consideration for both user experience and brand accommodation is why we believe that Highstreet is a strong candidate for users and brands alike when looking for a different shopping experience in the metaverse.
What’s more, the team understands the pain points that both users and brands encounter when trying to create an immersive experience and having this incessant drive to provide the best experience in the metaverse gives them the greatest opportunity to succeed.
$HIGH Token Metrics
Total supply: 100,000,000 HIGH
Tokens Allocated to Impossible Launchpad: 1,000,000 HIGH (1% of Total Token Supply)
Public Sale Tokens Released on Day 1: 50% unlock of claimed tokens
Public Sale Tokens Released after a 4 month cliff: 50% unlock of remaining claimed tokens*
Public Sale Token Price: 1 HIGH = 1.00 BUSD
*Tokens will be automatically airdropped into the same wallet address
Read more about Highstreet’s Philosophy and Tokenomics on their Whitepaper
About Highstreet
Highstreet is a commerce-centric metaverse that allows players to explore a vast MMORPG world where in-game items are real products by real brands. Highstreet’s merchant portal enables the shopify-for-gaming experience for brands where an easy-to-use user interface built upon the Metaplex protocol allows companies to easily set up shop both on Web 3.0 as well as in Highstreet World.
Website | Whitepaper | Medium | Twitter | Telegram | Discord
About Impossible Finance
Impossible Finance is a multi-chain incubator, launchpad, and swap platform led by Ex-Binance & DeFi veterans. It offers a robust product-first ecosystem that supports top-tier blockchain projects to targeted user audiences. With extensive support from key leaders in the crypto industry, Impossible Finance simplifies DeFi for users to enjoy fairer investing, cheaper trading and better yields.
Website | Whitepaper | Medium | Twitter | Telegram |
Impossible Tokens
$IDIA token is the core governance and access token for allocation into our launchpad IDO sales.
$IF token is the core governance and fee accrual for the swap and other non-launchpad products within the Impossible family.
Thanks for your amazing support and let’s buidl the Impossible together!
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