a revolution of blockchain use under supervision

Non-fungible tokens (NFTs) started out as what are essentially tamper-proof ledgers to verify authenticity and guarantee collectors’ ownership rights over artwork. Since their appearance several years ago, however, NFTs have become much more than that. Now many projects claim to seek to deliver new forms of value and utility. So far, many have been centered around community building and intellectual property. So far, no notable projects have attempted to concentrate the building around the potential of the core technology that is blockchain.

At the same time, growing grasp of the Metaverse concept and Web3 culture has led many enthusiasts to identify themselves using NFTs as profile pictures (often called PFPs as shorthand). While this has proven to be an interesting way for holders to represent their growing collection and involvement in the Web3 space, there seems to be potential for something more meaningful. Namely, NFTs are often static unless the creators, and not the holders, choose to push updated or adjusted designs to the chain. In turn, PFPs only represent what we have, not what we are or how we have truly evolved as digital natives and Web3 participants. This is somewhat ironic given the ever-changing nature of the Web3 space.

Enter Project Arcana, a Web3 project that aims to innovate blockchain use cases through dynamic, comprehensive and enduring virtual profiles that grow with users’ real and virtual world identities. If successful, they may just redefine the integration between real life, Web2 and Web3, and even reshape how NFTs can be used as digital identities.

These dynamic avatars will be able to represent the various gaming and social achievements of holders. Additionally, the web2 gaming experiences of players will also be captured as their builds solidify, via a partnership with Clicktheir oracles of identity. These will simultaneously connect with Arcana’s proprietary technology to pull web3 gaming experiences. The end result is a comprehensive overview of users’ online games and social experiences.

Games reshaped thanks to soulbound tokens

At its core, Project Arcana believes that more needs to be done to legitimize and bring real value to the space. That’s why they’re building a digital identity platform that allows users to customize their NFTs. Such customization will be achieved with assets that reflect real and virtual activities and achievements.

A blend of advanced data mining algorithms and Soulbound Tokens (SBTs) will enable this vision. These SBTs represent players’ achievements and serve to unlock expansions for base avatars. In turn, the base NFT becomes dynamic and truly tailored to the person’s original digital identity. Project Arcana aims to first build game-related data streams before extending identity and customization services to social media in general.

For those curious to learn more, Soulbound Tokens are a relatively new concept, originating from NFT technology. It is worth noting that SBTs have the potential to introduce new use case paradigms to the Web3 space. After all, in the digital realm, every action we take leaves a trace. Take games as an example: everything from high scores to one too many times we accidentally clicked on a skill at the wrong time, everyone has a digital record. Some of these records are used by game creators to reward you with in-game achievements.

However, most if not all of these achievements have no real-world or even digital benefits outside of the game they originate from. Moreover, many of these records are not used at all. Project Arcana sees such underutilized data pools and lack of integration outside of specific games as an opportunity, and SBTs are what could enable them to bridge these gaps.

As SBTs take NFT application to the next level, digital natives will be able to capture their identity and achievements in games (and social media come later build iterations). These data points can then be stored and displayed on immutable and verifiable virtual portfolios. Not only that, Arcana aims to take this dynamic identity concept a step further by allowing players to connect based on similar achievements, interests and goals, all enabled by SBTs issued on the blockchain. What falls is the transformation of underutilized data, into captured memories, into meaningful achievements to be proud of.

ArcanaHQ’s vision of identity heritage

As a starting point for its ambitious dynamic virtual identity project, Arcana will release a collection of unique NFTs. These avatars are designed to serve as the foundation of the greater Arcana ecosystem.

Drawing inspiration from various games and virtual worlds, the Arcana Collection consists of eight distinct character classes defined by elements of lore, including personality traits and equipment. The division of classes seeks to reflect the diversity of wonderful people who populate the world, and the diversity of talent sets each of us possesses.

Arcana is built by Promisphere, a web3 company that wants to evolve the intersection of social, gaming and NFTs for the better. Thanks to the support of their investors, the upcoming NFT collection will lay the foundation for a much larger identity-building effort that will span both the Web2 and 3 gaming communities before eventually expanding to cover digital natives at large.

Dynamic NFTs will usher in a new era of Web3 communication. Aside from purely game-based use cases, SBTs have the potential to completely reshape the Web3 landscape. These tokens act as dynamic identifiers, and can help communities come together in much more productive ways.

Bring digital identities into real life

As part of its ambition to elevate digital identities, Project Arcana also collaborates with ChapterX, which designs and manufactures accessories powered by Web3 technologies. ChapterX’s flagship Web3 network card uses decentralized identity technology to bridge the offline and online worlds. Users can showcase their blockchain-verified identities in physical settings by tapping the card on a mobile phone, then effectively engage with and manage all connections made.

Arcana and ChapterX will introduce a new form of gaming identity by bridging the realms of the Arcana card. With it, owners and players will be able to showcase their online achievements and connect with anyone with a single tap.

Project Arcana is pioneering this concept in the context of the blockchain gaming ecosystem. Nevertheless, the potential for further implementation is practically unlimited. Those who believe in the true potential of blockchain can check out the platform’s official website and follow Arcanas Twitter to keep up-to-date.

“We believe that going far in Web3 requires cooperation and support from the entire ecosystem. Projects, founders, communities and content creators all play an important role. With such foundations, we hope to introduce new technology use cases to legitimize the potential of blockchain and instill greater cohesion in our ecosystem.”

Stanley (CEO Promisphere)