Parabox

Parabox was the first metaverse built on the Radix Ledger but has since been disbanded. Developed by Parabox Studios, the team were on a quest to deliver the ideal metaverse experience.

Overview

Parabox featured a traversable virtual world that is free to play for everyone. Users could leverage their digital assets in a 3D environment, fostering an ecosystem of gamified experiences.

To begin the Parabox journey, 10,000 unique Genesis Avatars were minted into existence. These Genesis Avatars were the first playable NFT avatars of Parabox.

Vision

Parabox aimed to be the first self-sustaining Web3 virtual world ecosystem that is owned, operated, and built upon by its community. The infrastructure of Parabox is powered by Distributed Ledger Technology (DLT), which allows users to have genuine autonomy over their digital assets and experiences. The virtual world of Parabox aimed to avoid the threat of a centralized entity or single-point failure that could hinder the user experience.

Genesis Avatars

Parabox will mint 10,000 unique Genesis Avatars into existence at the beginning of its journey. Commonly abbreviated as GAT, these are unique 3D voxel avatars that will exist within a Smart Contract of 10,000 uniquely identifiable DLT-backed tokens called NFTs. They are the first 10,000 playable Avatar NFTs on the Radix Ledger and will be playable within all the experiences of the original Parabox virtual world application. To reserve a Genesis Avatar, 300 $XRD (Radix's cryptocurrency) must be sent to a specified address.

In the pre-Babylon phase, the Parabox community is reserving GAT in exchange for fungible placeholder tokens called GENAV. Post-Babylon, the GENAV tokens will be redeemable for GAT NFTs. The distribution ratio of GAT is 80% to the Parabox community, which initially purchased GAT in a public sale, and 20% to developers of the Parabox ecosystem.

$PARA

$PARA is a gamified currency token in Parabox's in-world economy, allowing the Parabox virtual society to exchange what they think is of equal value. It serves as a unified DAO treasury token across multiple Parabox DAOs and may be used for trading, gamified prize pooling, art galleries, events, and more. The initial distribution ratio of PARA was: 80% to each initial GAT holder, 0.5% to Ociswap DEX with 50k in $XRD as liquidity, and just under 40% to developers of the Parabox ecosystem.