The SENSO token has been the center of attention lately, for several reasons. They include the upcoming launch of the Sensorium Galaxy digital metaverse with its VR concerts, a migration to Substrate and the Polkadot ecosystem, implementation of NFTs, and the largest-ever token burn.
Why did David Guetta put on a MoCap suit?
Electronic music star David Guetta is dressed in a tight black suit studded with sensors. Even his fingers have over ten sensors attached to them, while on his head Guetta is wearing a helmet with cameras that track his eye movements.
The star is standing behind a DJ controller and playing a set for an unusual audience: a team of motion caption specialists. Their task is to track, scan, and digitize all of Guetta’s signature moves and even his facial expressions watch the video here.
The data is needed to create Guetta’s avatar, or digital twin. Just a few months from now, the artist – or, rather, his avatar – is going to play a concert in virtual reality – and not just any VR space but on a different planet.
This very special event will take place in PRISM, an exotic and alien world that is part of the Sensorium Galaxy digital meta-verse.
Guetta is just the first of a half-dozen famous musicians who have already signed up to perform in Sensorium Galaxy. The exact dates haven’t been set yet, but the online store where you will be able to buy the tickets is already operating.
Tickets to VR concerts will be much cheaper than regular ones, especially if you pay with SENSO tokens, the native in-platform currency of Sensorium Galaxy. SENSO holders will get a 20% discount on everything in the store: not just concert tickets but avatars, cabins, and accessories.
A starship voyage towards PRISM
Sensorium Galaxy and SENSO are among the largest and most interesting projects in the burgeoning digital meta-verse space. Sensorium Galaxy combines AAA-grade VR content, AI, music, dance, social mechanics, and blockchain technology.
The result is a vast array of immersive virtual experiences that are accessible to both VR headset owners and regular desktop and mobile users.
A few months ago, a team of volunteers in the form of avatars boarded the Sensorium Starship and set out towards the planet where PRISM is located. The starship has an immense lounge space with a bar that offers a lot of opportunities for networking or even flirting.
The graceful avatars were created by the prominent 3D artist Jason Ebeyer. Before the official release, every user who registers gets two standard avatars for free.
If you’d like a more original digital twin, you can choose among more than 20 characters in the online store, as well as buy a comfortable starship cabin for your avatar.
As we pointed out earlier, everything in the store costs 20% less when paid for with SENSO tokens; a single avatar will cost you less than $10. However, virtual shopping and concert tickets aren’t the only applications for SENSO.
The 5 key SENSO use cases
A few weeks ago, the project published a new light paper, an engaging and richly illustrated document that describes various aspects of the digital meta-verse and of the SENSO tokens. The Light Paper lists the following ways to use SENSO.
1. Senso as the in-platform currency
With SENSO, users will be able to shop both in the built-in store and in the NFT marketplace, as well as pay for event participation and for on-demand content, streamed from various worlds of Sensorium Galaxy. Tokens will also allow users to access limited-edition avatars and customization options.
2. NFT minting
Users will be able to create (mint) unique virtual assets, including avatars, and sell them in the integrated NFT marketplace or earn royalties. In addition, one will be able to verify and protect one’s digital identity (avatar). The fees for minting, listing, and selling NFTs will be paid in SENSO.
3. Gamification and exclusive content
Much of the content and activities featured in Sensorium Galaxy will be accessible only to SENSO holders, including exciting quests, closed VIP events, and even whole unlockable worlds. Moreover, users will earn rewards in SENSO for successful participation in such activities.
4. Decentralized autonomous organization (DAO) and voting with SENSO
SENSO owners will be able to take part in the decision-making process and influence product development. They will vote on adding new assets and avatars to the digital meta-verse, prioritization of new features, and so forth. Apart from voting, SENSO holders will be able to submit their own proposals.
The synergy of SENSO and NFTs
Perhaps the most important innovation of those described in the Light Paper is the implementation of NFTs, or non-fungible tokens. The NFT technology is one of the main blockchain trends of 2021, in the case of Sensorium Galaxy, their use is not a marketing trick but a fully justified and even necessary step.
NFT tokens represent unique digital objects on the blockchain, turning them into assets that can be monetized. Many NFTs sell for millions of dollars, especially 3D works of art.
Artists, opinion leaders, and content creators can use NFTs to authenticate their authorship, verify the authenticity of each work, and earn a revenue from its licensing and use.
For example, in the digital meta-verse of Sensorium Galaxy 3D designers will be able to exhibit their works, as long as they are of high quality. In the lounge space of the Sensorium Starship and sell them as NFTs right there and then, just like they would sell works during an art show at a real gallery.
For now, Sensorium Galaxy’s online store doesn’t feature NFTs, but things will change after the launch of the new Substrate-based blockchain.
The migration from Ethereum to Substrate
In its present form, SENSO is an ERC-20 token that runs on the Ethereum blockchain. This was a logical choice in the early stages of the project since all blockchain users are familiar with ERC-20 and have cryptocurrency wallets that support such tokens.
However, Ethereum would be a poor choice for the protocol that will power Sensorium Galaxy’s NFTs and DAO. The reason is Ethereum’s low processing capacity and high mining fees. As of May 2021, it costs over $20 to send any ERC-20 transaction, which hardly makes sense when buying and selling NFTs worth between $10 to $20.
Excessive mining fees are a serious barrier on the way to mass NFT adoption, causing projects to turn to alternatives, primarily Substrate and Polkadot.
The planned migration to Substrate will not only ensure fast and cheap transactions but also integrate Sensorium Galaxy into the larger Polkadot ecosystem. This ‘internet of blockchains’ can eventually grow into a massive decentralized network where users of different blockchains can exchange assets.
Sensorium Galaxy and SENSO have the potential to win one of the leading positions in the entertainment and communication segments of this network, meaning that SENSO will be used as a means of payment across many different projects.
The first look at the underwater world of Motion
While the PRISM world launch and the first VR concerts are scheduled for the autumn of 2021, the second world, Motion, is also almost ready. Instead of distant planets, users will find themselves in the ocean depths, surrounded by mermaid-like creatures.
The first Motion trailer demonstrates the superb quality of graphics, the richness of detail, and the creators’ fantasy.
As explained in the Light Paper, Motion is centered on self-development and creative expression. The gorgeous underwater locations will host guided meditations, mindfulness sessions, coaching, conferences, and other events dedicated to personal improvement.
Just like in PRISM, premium activities will be payable with SENSO.
SENSO price dynamics after the largest token burn in cryptocurrency history
The original SENSO emission in May 2020 amounted to 5.9 billion tokens. This number had been calculated based on the targets for the closed (private) and public token sale rounds. However, the private round turned out to be far more successful than expected, and it was decided not to conduct a large-scale public sale at all.
Eventually, the team of Sensorium Galaxy decided to burn all the extra tokens – 70% of the whole initial emission. The token burn was executed on April 30, 2021 by sending the tokens to a special eater smart contract, which cannot be accessed by anyone, including the administration of the project.
After the burn, only 1.7 billion SENSO remain. This number much better corresponds to the project’s needs, especially considering the token’s appreciation between February and April 2021. Right now SENSO is available on six cryptocurrency exchanges, including KuCoin and Poloniex.
Digital immortality is possible with AI avatars
The use of AI is just as important for Sensorium Galaxy as the use of blockchain. Most of the characters populating PRISM and MOTION are powered by an artificial intelligence so sophisticated that you have a difficult time distinguishing them from real users.
NPCs will have two communication modes: general friendly chat and flirting. This opens up possibilities for so-called AI dating, yet another innovation by Sensorium Galaxy.
You can get an idea of how AI dating works from the mobile app teaser.
What’s more, each human user’s avatar will continuously learn to imitate the owner’s manners, conversation style, and preferences. After a while, the avatar will become able to act and talk with others in the digital universe autonomously while its owner is offline.
The avatar will become the user’s real digital twin: the creators even call this ‘digital immortality’.
The development of SENSO and Sensorium Galaxy has really sped up in the past couple of months. Contracts with famous performers, fresh video trailers and VR demos, the token burn, the Light Paper release: these and other important news kept coming with an impressive frequency.
The stream of updates will continue, starting with a revised white paper, which will likely contain many surprises. You will find more updates in the official blog.