With so many web3 products on the market, it can be difficult to distinguish between all the different systems. SuperVerse hopes to solve this problem by creating a single, easily identifiable organization that can manage a broad range of different designs. Where did SuperVerse come from, and is it offering a noteworthy product? Read this guide to find out the answers to these questions and more.
Key Takeaways:
SuperVerse (previously known as SuperFarm) is a decentralized autonomous organization (DAO) that manages a variety of web3 products.
Its users can seamlessly interact with a variety of games, NFTs and digital collectibles.
Looking to trade SuperVerse tokens? Bybit now offers SUPERUSDT Perpetual contracts for trading.
What Is SuperVerse?
SuperVerse (previously known as SuperFarm) is a decentralized autonomous organization (DAO) that manages a variety of web3 products. Its cohesive ecosystem allows users to seamlessly interact with a variety of games, NFTs and digital collectibles.
History of SuperVerse
SuperVerse got its start as SuperFarm, a cross-chain NFT gaming platform. Founder Elliot Wainman was initially a crypto YouTuber before realizing that there was a huge amount of potential for combining blockchain technology with the gaming landscape. Launched in 2021, his SuperFarm system was all about farming NFTs and staking crypto to earn digital assets.
As he worked on the SuperFarm project, Wainman began to explore more areas of the digital world. Eventually, his project grew to include so many things beyond NFT farming that it was time for a name change. In 2023, SuperFarm decided to rebrand as SuperVerse. Though it still uses the same token, the organization has greatly expanded its goals. SuperVerse now contains all the former products of SuperFarm along with additional products and software.
What Does SuperVerse Aim to Achieve?
According to SuperVerse, its main goal is "to accelerate global crypto adoption by building and delivering web3 products." This is a fairly broad mission that can cover a wide range of different activities. Currently, SuperVerse is choosing to focus on a few specific concepts:
Offering a simple interface that even those unfamiliar with blockchain technology can use
Making web3 games that are both fun and inclusive
Adding social features to crypto technology while still preserving privacy
Designing a functional and scalable marketplace for NFTs and other digital assets
Finding ways to attract more users to the SuperVerse ecosystem
Setting up a community-led DAO to run the ecosystem
How Does SuperVerse Work?
The core of the SuperVerse digital universe includes its token and its DAO. These two mechanics, some of the only components over which SuperVerse has direct control, help to run the rest of the project smoothly. Many of the other aspects of their system, such as the software used for games, are left up to individual developers.
SuperVerse seamlessly manages all payments and funding via the SUPER token, which provides a secure way of rewarding users who take part in the SuperVerse gaming landscape. It's also used to collect funding for the new era of features, and to facilitate payments on the SuperVerse digital marketplace.
Meanwhile, the SuperVerse DAO helps to manage the operational side of the SuperVerse system. It allows all holders of SUPER tokens to participate in running the ecosystem. People can vote on new mechanics and help make decisions about launching new projects.
Features of SuperVerse
SuperVerse’s digital world currently contains a blend of investing, gaming and social features. Here are the main products its users can explore.
Impostors
Impostors is the first game created for the SuperVerse ecosystem. It's a social deduction game in which players interact with each other to find impostors. The game also contains several applications for fans of NFTs. Players can design characters and own their digital assets. As they play, they earn rewards that provide more digital collectibles. In addition to earning digital assets, players can also buy NFTs to better their gameplay. Players who hold certain NFTs get extra perks in the game.
GigaMart
GigaMart (GM) is an NFT marketplace where SuperVerse users can go to invest in NFTs. It offers a variety of helpful tools, such as an Ethereum block explorer and customizable analytic software and dashboards. In addition to its trading tools, GigaMart also functions as a community for NFT investors. Verified holders can chat with each other in an exclusive forum, and other users can interact through options such as commenting on NFTs or voting on trends.
However, in November 2023, the SuperVerse team announced that they’d be pausing operations on GigaMart in order to focus their efforts on expanding SuperVerse as a gaming platform.
SuperVerse DAO
The SuperVerse DAO gives users the chance to provide input on the company and interact with others. To join the DAO, users need to purchase SUPER and then stake it in a designated DAO pool, which provides one vote for each staked token and features a forum for users to discuss ideas and submit proposals.
Staking
To help maintain token value, SuperVerse has a staking program. Anyone who holds SUPER can choose to temporarily lock their tokens. In return for helping to prevent inflation, stakers receive incremental rewards for their participation. SuperVerse's staking program distributes rewards in the form of ETH.
SuperVerse Road Map
Since its transition from SuperFarm to SuperVerse, the company has mainly concentrated its efforts on setting up its DAO and teaching the public about its new branding. Now that the operational side of the digital universe has been set up, SuperVerse wants to refocus in 2024 on what made it popular in the first place: gaming. While the company has been vague about its upcoming plans, it’s hinting at some sort of big announcement. Users speculate that it will be launching new games to help populate the SuperVerse ecosystem.
SUPER Tokenomics
SUPER tokens have many uses within SuperVerse’s ecosystem. These ERC-20 tokens manage everything from in-game rewards to SuperVerse DAO voting. Initially released by SuperFarm in 2021, SUPER tokens have retained the same name and structure after the transition to SuperVerse.
SUPER’s total supply is 1 billion tokens, of which roughly 800 million have been unlocked so far. The SUPER tokens are being distributed in the following manner:
Founders and advisors: 100 million
Development: 100 million
SuperVerse ecosystem: 90 million
NFT drops: 50 million
Staking rewards: 250 million
Liquidity: 10 million
Seed money: 50 million
Initial DEX offering: 10 million
Phases 1 through 3: 340 million
SUPER Price Prediction
The SUPER token has varied substantially in price. When the coin was first released in 2021, it quickly reached an all-time high of $4.74. However, by October 2023, it had dropped to an all-time low of $0.070397. As of Dec 12, 2023, its price is sitting at around $0.57.
CoinMarketCap has highlighted the debate as to whether SUPER’s price will keep increasing or not. Many posts have a bearish outlook, referring to SUPER’s lack of real-world utility. However, others are bullish, citing SuperVerse's rumored upcoming announcement. This mixed outlook is also supported by an analysis of historical pricing data. CoinCodex's research suggests that SUPER will likely sit at around $1 for the next few years, but could experience a few price spikes.
Where to Buy SUPER
Looking to trade SuperVerse tokens? Look no further than Bybit, a reliable crypto exchange where you can trade SUPER in the form of USDT Perpetual contracts. To get started, you’ll first need to create a Bybit account and fund it with cryptocurrency. Then, you can navigate to the SUPERUSDT Perpetual contracts page.
Is SUPER A Good Investment?
While some aspects of SuperVerse look exciting, the project isn't necessarily the type of investment that will appeal to most investors. It hasn't offered a lot of information about its designs or plans for the future, and most of its website and social media are filled with abstract phrases and crypto buzzwords. Without its platform offering many useful products to people, the SUPER token’s price is almost entirely reliant on market hype.
Right now, it looks like SUPER might be better as a short-term investment that capitalizes on the brief public interest in NFT gamification. However, there’s always a chance that SuperVerse could release a unique and appealing project and eventually end up making a lot of money. If you're interested in high-risk investments, SUPER might work for you. Just make sure to approach the project cautiously and avoid investing money you can’t afford to lose.
The Bottom Line
The SuperVerse web3 ecosystem has the potential to bring a lot of gamified crypto products to users. In the past, it’s had some success marketing digital collectibles like NFTs, but only time will tell whether its new era will be equally successful. Regardless of how things turn out for the SuperVerse company, its token’s volatility may create some great opportunities for investors.
