Simeta serves as the next generation Shop-to-Earn eCommerce marketplace that allows multiple vendors to sell their products with cryptocurrency in the metaverse. It strives to bridge the gap between the cryptocurrency world and the physical world to satisfy consumers who previously couldn’t shop while using their crypto assets. Simeta will start from the US and service the whole world in future.
Shopping in metaverse
Shop to Earn
- 1.Buyers will be rewarded 65 $SMT while 35 $SMT for sellers for each completed order that is greater than 10 USDT. The number of rewards will be adjusted with the progress of Simeta ecology accordingly to maintain the sustainability of the ecology.
2. All users in the ecology will be rewarded 2 to 6 $SMT on a daily basis for the clock in Simeta crypto eCommerce platform:
Rewards for 5 consecutive days are as follows: 2 $SMT, 2 $SMT, 3 $SMT, 3 $SMT, 4-6 $SMT
Rewards for accumulated 10 days, 20 days, 30 days, 60 days and 90 days are 10 $SMT, 15 $SMT, 20 $SMT, 30 $SMT, 40 $SMT respectively
Simeta consists of four parts:
- 1.Simeta Virtual Space is a virtual 3D space for landowners (sellers) to build shopping malls or stores where they can list either physical or digital products or services and for users to shop for, like NFTs and physical products that are available on traditional eCommerce marketplace, like electric toothbrush, headphone, clothes, toys, book and so on.
- 2.A decentralized ledger for land ownership, landowners (sellers) decide what products are listed in the mall or store they built on their portion of land, which is identified by a set of cartesian coordinates (x,y), an owner, and a reference to the content description file, which encodes what the landowner wants to serve there. The land is a non-fungible, transferrable, scarce digital asset stored in an Ethereum smart contract.
- 3.A management system where landowners (sellers) can not only modify their shopping mall or store but also manage their listings, inventory, orders, advertising campaigns etc. Sellers get the payment right after the buyers confirm to receive the goods. Simeta will charge an 8% service fee for every completed order.
- 4.SMT is a standardized token that provides economic circulation and governance mechanisms. Land parcels can be acquired by spending a certain amount of SMT. SMT is the only currency that can be used for advertising campaigns for sellers within Simeta ecology. Special offers can be obtained by SMT on a regular basis. More utilities of native token SMT will be equipped during development.
Simeta will provide a series of basic frameworks and standards for landowners (sellers) to build their own shopping malls or stores. What's more, social networking, decentralized finance and other online virtual scenes will be introduced to diversify Simeta metaverse ecology.