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Economy support

1        Introduction

This section Identifies the functionalities that a Metaverse Instance may make available to support economic activities in its Instance.

Activities
Assets
Agreements
Transactions

2        Activities

This subsection identifies and defines the Functionalities related to the Rights to perform Actions on an Entity.

Area 9. Economy
Subarea 9.1 Activities
Title 9.1.1 Activity Rights
Functionality A User acquires the Rights to develop an activity in a Metaverse Environment.
Comment The activity may be not for profit or for profit.

The User becomes an Operator of a Metaverse Manager or a Partner of a Meta­verse Operator.

The Rights include to offer Services.

Services may be provided inside the Environment or outside (other Environments in the same or different Metaverse or the Universe).

 
Area 9. Economy
Subarea 9.1 Activities
Title 9.1.2 Rights to act on Entities
Description A User acquires the Rights to act on an Entity.
Comment The Actions include:

1.      Actuate

2.      Animate

3.      Authenticate

4.      Ban

5.      Compose

6.      Create

7.      Destroy

8.      Discover

9.      Edit

10.  Export

11.  Import

12.  Instantiate

13.  Interact

14.  Interpret

15.  Post

16.  Register

17.  Remove

18.  Render

19.  Select

20.  Sense

21.  Store

22.  Transact

3        Assets

This subsection identifies and defines the Functionalities related to Assets in a Metaverse Instance.

Area 9. Economy
Subarea 9.2 Assets
Title 9.2.1 Asset Creation
Description A User creates an Asset from an Entity.
Comment Rights enable Actions on an Asset.
 
Area 9. Economy
Subarea 9.2 Assets
Title 9.2.2 Rights acquisition
Description A Metaverse Environment offers Users the means to acquire Rights.
Comment Rights may be acquired as a reward for doing something in the Metaverse Environment or by paying a fee.
 
Area 9. Economy
Subarea 9.2 Assets
Title 9.2.3 Data access Rights
Description A Metaverse Environment makes Data accessible to a User based on their Rights.
Comment A User experiences a current or past Event of a Metaverse Environment subject to them having acquired specific Rights.
 
Area 9. Economy
Subarea 9.2 Assets
Title 9.2.4 Asset Monetisation
Description A User can monetise an Asset based on the the Rights to the Asset.
Comment The User having created the Asset has the Right to request immediate payment and/or subsequent royalties for their NFTs.
 
Area 9. Economy
Subarea 9.2 Assets
Title 9.2.5 Asset Monetisation Right
Description A User obtains the Rights to monetise an Asset.
Comment A User purchases an Asset with the Rights to resell it.
 
Area 9. Economy
Subarea 9.2 Assets
Title 9.2.6 Asset trading
Description A User acquires, leases, alienates, or exports Assets.
Comment A Metaverse Instance may set rules governing the life cycle of Assets.
 
Area 9. Economy
Subarea 9.2 Assets
Title 9.2.7 Blockchain-enabled Asset trading
Description A Metaverse Instance relies on a Blockchain to enable Asset trading.
Comment A Metaverse Instance may use an existing Blockchains or deploy a proprietary one.
 
Area 9. Economy
Subarea 9.2 Assets
Title 9.2.8 Marketplace-oriented Asset trading
Description A Metaverse Instance offers or relies on a Marketplace to enable Asset trading.
Comment The Marketplace may use a Smart Contract to enable Asset trading.
 
Area 9. Economy
Subarea 9.2 Assets
Title 9.9 Asset renting
Description A User has Rights to an Asset for a duration of Time.
Comment A User can occupy a Location excluding other Users for a duration of Time.

4        Agreements

This subsection identifies and defines the Functionalities related to Agreements in a Metaverse Instance.

Area 9. Economy
Subarea 9.3 Agreements
Title 9.3.1 User agreement
Description Users make agreements between and among themselves.
Comment Users may use Smart Contracts to govern the terms and condition of the participation in the agreement.
 
Area 9. Economy
Subarea 9.3 Agreements
Title 9.3.2 Environment Agreement
Description Users make Agreements while being in an Environment.
Comment Users may be in the same or different Environment or Metaverse. The case of a User being in the Universe should also be considered.

5        Transactions

This subsection identifies and defines the Functionalities related to Transactions in a Metaverse Instance.

Area 9. Economy
Subarea 9.4 Transactions
Title 9.4.1 Asset posting
Description A User posts an Asset to a Marketplace offering Rights to the Asset.
Comment The User should have the Rights to post to the Marketplace.
 
Area 9. Economy
Subarea 9.4 Transactions
Title 9.4.2 Rights in Transactions
Description By executing a Transaction, User1’s Rights to act on an Asset are transferred to User2 while an agreed Amount is transferred from a Wallet of User2 to a Wallet of User1.
Comment Transactions may involve:

1.      Fungible Tokens (fiat or virtual currency).

2.      Non-Fungible Tokens (NFT).

The Amount transferred to the Wallet of User1 may be less than the Amount leaving the Wallet of User2.

 
Area 9. Economy
Subarea 9.4 Transactions
Title 9.4.3 Intra-Metaverse Transactions
Description Users make Transactions while being in an Environment.
Comment Users may be in the same or different Metaverse Environment of the same Metaverse.
 
Area 9. Economy
Subarea 9.4 Transactions
Title 9.4.4 Inter-Metaverse Transaction
Description The object of the Transactions concerns different Assets in one or more Metaverse Instances or in the Universe.
Comment Objects subject to transactions may be Environments, Objects, and Assets.

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