Make money doing food NFTs?

The race of Web3 entrepreneurs to be the first to build the most popular metaverse sometimes produces curious results. For example, Indian entrepreneurial couple Gaurav Gupta and Supreet Raju want to use OneRare to create a digital world for foodies where users can earn money… by making virtual food.

When we think of the metaverse, images of Mark Zuckerberg wearing virtual reality goggles can spontaneously come to mind. But the burgeoning industry that develops metaverses has to get increasingly creative to compete with big players like Meta. The race to build the world’s first popular metaverse has been raging for several years.

Indian Web3 entrepreneurs Guarav Gupta and Supreet Raju put a completely different spin on the concept with their OneRare metaverse. They hope to create a virtual world where amateur and top chefs and foodies feel at home and hopefully also pump money into it. Small footnote for those who are not fully informed: Web3 is said to be the next evolution of the Internet, characterized by its decentralized nature and financial co-ownership among users.

“The idea is for OneRare to become a virtual world where food lovers and food and beverage industry players can interact with each other. We want to use the simplicity of our curiosity about other food cultures to demystify the blockchain and remove major technical barriers around it,” Raju said. AM Business

Why would anyone want to stay in a foodverse?

OneRare’s concept is very specific, but sounds nice to those who are avid fans of the most sophisticated forms of provisioning on the planet. But why would those people spend their time in the metaverse instead of cooking or eating out?

“Not all food-related activities are associated with eating food,” explains Raju. “In existing video games, you can buy skins for your character and all the money goes to the game publisher. In this blockchain-based metaverse, all the money goes to the community that created the content.”

And so we come to the main incentive that would attract food-loving users to OneRare: the ability to play for money and other benefits.

Whoever plays the game will be able to buy NFTs of food ingredients or virtually farm their own land on a plot of land with OneRare coins, the crypto currency used to do business in this metaverse. NFTs are unique tokens on the blockchain that are non-fungible and non-exchangeable. Therefore, each NFT is unique. Using NFT ingredients, users can venture into a virtual kitchen to craft a final dish.

“Remaking the same dish will require more and more ingredients. This is how NFTs from first courses become valuable. Of course, we regularly release new dishes so that it is not expensive for new players”, explains Raju. So whoever makes the first pizza on OneRare might as well make some money from it. Or so the Indian entrepreneurial duo hopes.

Therefore, you should be able to sell the NFTs from the dishes to other users who want to collect them. Plus, eventually you should also be able to redeem them for cooking classes or other activities that food companies run in the metaverse. I might even trade them for real food at chain restaurants one day.

Investor angel from Lego sets

OneRare coins are already for sale in various virtual markets. At the time of writing, a OneRare coin would be worth around 11 cents. The coins are based on Polygon, an application that exists on Ethereum, the second most valuable cryptosystem in the world after Bitcoin.

The metaverse itself has yet to be released, although there will be a test of the project on the game side in the coming days. Raju indicates that he expects the metaverse to need some tweaking before it’s ready. How OneRare will actually come out in the end is impossible to understand. “The idea now is to explore the technology and gradually find out what is going on and what we can improve,” says Raju.

The Web3 application certainly attracts the attention of major investors. Abhinav Sarangi, product lead at Lego Games, joined the project as an angel investor. “He helped us a lot with the gaming side of the project,” Raju said. Polygon co-founder Sandeep Nailwal also threw his weight behind OneRare.


Leave a Comment