The easiest way to understand what Rebase is about is by thinking of it as the Web3 Pokemon Go for urban exploring.
At its core, Rebase employs geolocation technology to overlay a virtual world onto the physical world, creating immersive experiences similar to a treasure hunt.
We now live in a world in which the boundaries between the digital and physical worlds are constantly blurring.
Through the high accessibility that technologies like mobile devices, the Internet of Things (IoT), virtual and augmented reality, artificial intelligence, and blockchain provide, the digital realm is an ever-present one.
Augmented Reality (AR) is probably the technology that better reflects this shift. As demonstrated by the immense success of games like Pokémon Go, humanity strives for something bigger.
Not only did the game’s seamless blend of the virtual and physical worlds captivated millions of people when it launched in 2016, it still does today.
With the AR software industry being projected to be worth over $31.1 billion this year, investing and innovation are still going strong.
An area that has sparked special interest is that of Web3, which promises to increase the performance, security, privacy, and more importantly, functionality of all software that relies on connectivity. Now, Rebase is seeking to deliver on that promise… today.
What Is Rebase?
Those using Rebase will get to find NFT-based rewards in locations near them, which they will be able to collect by getting close enough to them. This means that users must physically move and explore their surroundings to discover and mint their favorite collectibles.
Not only are all of these assets limited to a specific location but their Non-fungible nature also means all of them are unique, making the collection experience even more rewarding-
Unlike other web3 AR projects, Rebase is more about just collecting NFTs. While these NFTs certainly have collectible value, they will also enhance your experience.
Rebase’s approach is also gamified, meaning that users will get to compete with other players in different ways both in 2D and 3D. By collecting NFTs, users will get upgrades and competitive benefits, incentivizing them to further explore and collect.
With NFTs being entirely owned by their holders, powerful Web3 infrastructure, a crypto-based economy, and the means to bring fulfilling experiences to its users, Rebase could very well be for Web3 what Pokemon Go was for AR.
What Sets Rebase Apart?
As previously mentioned, Rebase is not the only geolocation-based project currently in the Web2 or Web3 markets. However, it is seeking to differentiate itself by bringing more value to its users in different ways. By doing so, the project is able to attract multiple audiences at once, something many projects are not able to do so.
Rebase is already setting itself apart from traditional geolocation-based applications by addressing the problem of ownership. By using NFTs and Web3 infrastructure, Rebase is already appealing to a growing community of blockchain enthusiasts. People want to truly own the assets they rightfully earned, which is something Rebase allows.
By focusing on ease of use, Rebase also serves those who have turned away due to crypto and Web3’s complex technical nature. Not only does this include everyday people but also gamers who dislike the use of NFTs with no purpose beyond capitalizing on a trend. In the Rebase world, NFTs play a role that goes beyond collecting as they are integral to experience.
Furthermore, Rebase plans to integrate with multiple blockchain networks also make it impervious to the blockchain network race.
Starting with Solana, Rebase will be expanding to Ethereum and Binance Smart Chain in the near future, some of the biggest networks in the blockchain space. This brings more interoperability to Rebase’s NFTs and native tokens, translating to added value for the end user.
Additionally, the platform’s native token is more than just a cryptocurrency, it also plays a crucial role in governance, staking, and earning/rewarding its holder’s interaction with the Rebase world. The token also makes the experience financially rewarding, joining the sense of exclusivity and thrill of treasure hunting to create a compelling experience.
$IRL: The Heart of the Rebase Economy
Rebase’s token is $IRL, which serves as the governance, financial, and utility token of the whole ecosystem.
With a total supply of 500 million, 35% of these tokens will be destined specifically for the ecosystem’s rewards. This ensures the long-term sustainability and growth of the Rebase economy by incentivizing continued play by its players by adding a layer to player satisfaction.
In addition to being used to acquire in-game assets and premium content, the token will also be used to pay for the fees of adding geolocated incentive points, bringing more value to the ecosystem.
This makes it possible for business owners, government agencies, and other private players to gain visibility by attracting players. As these incentive points still have to play by the ecosystem’s rules, the player experience won’t be negatively affected.
The $IRL token also has staking capabilities that allow players to generate gains passively while contributing to the ecosystem. By doing so, stakers will also be able to access more features and benefits like a priority for events or exclusive access to incentive points, making staking about much more than just passive gains.
Finally, IRL holders will get to participate in the governance of the Rebase projects via voting. A user’s vote will always be proportional to the “weight” of their holdings, ensuring that those more invested in the ecosystem’s success are more likely to have a say in its future.
The New World
There are more and more AR/VR tools out there, and despite a slow start, metaverse development is ongoing. The world will need platforms like Rebase that join technologies across platforms, and make the global online world.
As of now, Rebase is in the beta phase. While this means that functionality is limited at this time, the project has already attracted over 20,000 users across 23 countries, who have collectively explored over 200,000 miles.
Not only is this enough to walk the equatorial circumference of the earth 8 times but almost enough to walk to the moon.
Requiring interaction that goes beyond social media and crypto exchanges, this feat reflects a great interest by the community that goes beyond what other projects have achieved.
Investors have also been quick to support Rebase, with important names like Animoca Brands, Defiance Capital, Spartan Group, and Tribe Capital participating in a $7.5 million funding round.
With a great idea, and funding, Rebase is well placed to grow in the coming years.
The Past, Present, and Future of Rebase
Rebase’s future seems promising when looking at its roadmap. With the slow rollout of the beta taking place earlier this year, the team is now focusing on launching the $IRL token via its Token Generation Event (TGE) and Initial Dex Offering (IDO) this quarter.
The official app will also be launching in IOS and Google Play, as well as the introduction of Rebase’s cross-chain capabilities. AR simulations, geo-fencing incentives, new NFT collections, and more are scheduled to occur in the third quarter.
Rebase should work with every popular technology, and be inclusive.
With a unique proposition that promises to bring rewarding and compelling experiences to its users, Rebase could very well reach the status of projects like Pokemon, Axie Infinity, and Crypto Kittens.