BNB Chain Spotlight: SecondLive

BNB Chain Project Spotlight continues to shine a light on the great builders in our midst with SecondLive. As one of our dApp Stars in May, SecondLive is the most active Metaverse infrastructure project on BNB Chain with over 800,000 registered users and millions of active community members.

Catch up with the latest developments in our interview with the SecondLive Team.

IMPORTANT: Please note the following content does not constitute an endorsement or approval of any of the products or services of the project, organization, or individual.

1. Please describe SecondLive to those unfamiliar with it. What's your vision and mission?

SecondLive is the most active Metaverse infrastructure project on BNB Chain with over 800,000 registered users and millions of active community members. The team continues to iterate and enrich the platform’s Avatar style, space-building templates, and various low-code rule engines. Currently, virtual live broadcasts, virtual concerts, large-scale online conferences, and business display scenarios can be realized.

In the future, SecondLive will further open up PUGC, UGC tools, and the space-based main universe and sub-universe structures, and is committed to introducing more content scenarios, making it the first choice for players to enter the Web3.0 Metaverse world. With the support of the economic system based on token and NFTs, creators, players, and platforms can continue to benefit in this environment. Effective productivity tools combined with efficient production relationships can make Web3.0 projects sustainable and value-accumulated.

In the long run, we aim to be an open Metaverse with abundant content to serve 1 billion users, creating a perfect living place in the virtual world.

2. When was the idea behind SecondLive born, and what led to it?

Our team has been working in the crypto industry for five years. We have experience in doing public chain, DeFi, NFT. They are good but not outstanding. We have a higher expectation for our achievements. So when we were thinking about what to do next, we noticed the Metaverse track.

We believe that with the progress of technology and the improvement of infrastructure, the threshold for entering an immersive virtual world is getting lower and lower, and the experience will get better. In the future, the virtual world will become a very important part of real life. Therefore, its commercial value and ceiling will be high enough. This is our insight on the prospect of Metaverse. That’s why we started. The team began to plan this project in May of 2021, and officially kicked off in July. In September, we released the first version and have been keeping a high speed to push R&D iteration.

As for why SecondLive is currently taking the form of space, and why it was named SecondLive, it’s because we believe that the content in the future Metaverse should be tremendously rich. It should not be restricted or limited to land, so we use space to deliver an infinite concept. In addition, we think that the Metaverse is a parallel world of physical life and the second scene of life. So we call it SecondLive.

3. Tell us something about your team's background.

The SecondLive team entered the crypto industry around 2016. We experienced the full cycle of bulls and bears and survived well till now. There are three co-founders, and we are very complementary in professions and have clear responsibilities and assignments – one for product and R&D, one for strategy and commercial resources, and the other one is mainly in charge of investment, marketing, and BD.

4. What are the main advantages of SecondLive for the users compared to a similar project from a mainstream Metaverse market?

There will be more and more Metaverse projects. We think SecondLive has some unique advantages. Firstly, SecondLive was designed to start with a PC client rather than a dapp on a webpage. So it allows SecondLive to be able to accommodate up to 10k online users when there is a large-scale event, like Quavo’s concert we hosted in April. So SecondLive is equipped with a strong extendibility.

Secondly, SecondLive is a rare, realistic graphic-style Metaverse. Of course, the pixel and voxel are also stylish. But SecondLive is closer to the way the real world looks. One day, when Metaverse goes more into our daily life, the realistic style is easier to be widely accepted and used.

The third one is that we have a very clear go-to-market strategy. First of all, we will start with the application scenarios of Web3 areas. Our space and space functions are very suitable for Web3 projects and other institutions to do marketing, including but not limited to AMA, airdrop, branding, promotion, etc. This is an essential demand and is also a widely-used scenario. After we launch our PUGC tools, we will do some large-scale Web3 events to promote its function and the SecondLive brand. At that time, I believe SecondLive will upgrade to a new level in terms of both practical function and branding.

Apart from this marketing perspective, the other special thing is SecondLive chose the entertainment industry as a starting point to connect with the non-crypto world, and we made it. And this way can be very promising.

So that is how we distinguish SecondLive from other Metaverse projects and how we’ll go for the next step.

5. Let's say I want to start using SecondLive. Where do I start? Where can I find some how-to guides?

It’s pretty easy to start your journey in SecondLive. Come to find our detailed tutorial: https://docs.secondlive.world/get-started

6. Why did you decide to migrate to BNB Chain?

There are several reasons behind this:
1.  BNB Chain has a huge user base and high level of activity.  It is essential for a project during the cold-start stage.

2. BNB Chain has a strong advantage in performance and cost. The social Metaverse project involves a large number of user interactions and trade transactions, which calls for low fees and high TPS. BNB Chain meets our needs very well.

3. Our team was doing development on Ethereum previously. It is very easy to technically migrate to BNB Chain.

7. What do you hope to see next from the BNB Chain community?

We hope that there will be more collaboration campaigns and SecondLive-related information to be displayed in the BNB Chain community in the future.

8. What do you see as the main challenge for the future of Metaverse?

At present, the construction of Metaverse is still in a very early stage, no matter in terms of technical infrastructure or content expansion. In the future, on the one hand, the Metaverse development depends on the technical strength and whether it can really allow users to have a smooth virtual experience. On the other hand, it depends on the enrichment of content and whether it can generate the application scenarios that can meet the real needs of Metaverse users, attracting them and keeping them to stay.

9. Where do you position your brand in the Metaverse space?

First of all, we hope that we are the most well-known Metaverse project on BNB Chain. Secondly, we will continue to expand the multi-chain ecosystem and expand into the non-crypto field based on the existing user base. In the future, we certainly hope that we are the top Metaverse project in the entire Web3 world.

10. Do you have a roadmap, whitepaper, or relevant links to share?

https://docs.secondlive.world/roadmap

11. Can we talk about the tokenomic model?

SecondLive tokenomics consist of two kinds of tokens: governance token $LIVE and incentive token $BEAN.

$LIVE is the adhesive that binds all members of the SecondLive community together, and the governance token of the whole platform.

$BEAN is used to stimulate the output of various user behaviours on the platform, including operating space, playing games, creating content, completing specific tasks, participating in operational activities, etc.

SecondLive will provide a certain amount of $LIVE every week (currently 100,000 per week) and the number will be modified with the increase of users and DAO governance. $LIVE will be put into the income pool for the incentive of staking $BEAN. Users can stake $BEAN to get $LIVE rewards. The $BEAN in the income pool will be burned. Please stay tuned and we’ll release more updates and details on our official website.

12. Is there any upcoming event you would like the BNB Chain community to know about?

Our next milestone is to launch our UGC and PUGC tools. Once it goes live, professional designers and general users can create NFTs based on their own preferences, and the whole SecondLive world will have more and more interesting content, like space, buildings, avatars, accessories, etc.

With the launch of PUGC tools, we will organize large-scale marketing activities to attract talented creators to SecondLive to create and earn profits from their creations. Furthermore, we will enrich the marketing and entertainment activities on the platform. Stay with us!