Join Camnang24h to learn about the project “What Is Highstreet (HIGH)? What Makes Highstreet Unique? How does Highstreet work? What is the Highstreet World?” through the article below.
Highstreet (HIGH) Price Live Data
Camnang24h invites you to consult the latest updated Highstreet (HIGH) price chart today. If you would like to know where to buy Highstreet at the current rate, the top cryptocurrency exchanges for trading in Highstreet stock are currently Binance, BTCEX, BingX, Phemex, and MEXC. You can find others listed on our crypto exchanges page.
To find out even more about this project, check out our deep dive of Highstreet.
What Is HIGH (Highstreet)?
HIGH Token (Highstreet) is a native token of a decentralized commerce-centric play-to-earn metaverse built with virtual reality (VR) support. Apart from realizing a two-way currency flow within physical and virtual worlds, Highstreet (HIGH) introduces a market where in-game items can be redeemed for real-life products. During gameplay, users have an opportunity to explore the metaverse, fight monsters and complete quests all the while acquiring goods that have both digital and real-world utility.
The project aims to define the new generation of retail and offers an effortless, secure and entertaining way of making online purchases.
Apart from HIGH, the game features a utility token STREET, acquired through completing various tasks in the game. While HIGH is considered a governance heavy token, giving gamers an opportunity to vote on major decisions on the platform, profit through stacking and buy products on the marketplace, STREET serves as the primary currency facilitating the commerce in the game and can be used to buy armor, weapons, heals, travel tickets and hotel stays. HIGH is paid to owners of properties in taxes and is also obtainable through participation in metaverse’s special events.
As stated in the official sources, the token first went live in October 2021. The company’s twitter feed reports that the game is currently as of November 2021 in private alpha testing with the public beta testing coming towards the end of the year. Highstreet market is already accessible to users via browser.
Related: What is Axie Infinity (AXS)?
Who Are the Founders of Highstreet?
Highstreet (HIGH) was rebranded from a computer vision company LumiereVR. Established in 2015, it was focusing on elevating retail experience through incorporation of VR technology. The co-founders of LumiereVR and Highstreet are Travis Wu and Jenny Guo.
Travis Wu is an experienced software developer and blockchain enthusiast with a background in VR. He studied entrepreneurship at Draper University in San Mateo, California and computer science at Queen’s University in Ontario, Canada.
Jenny Guo majored in electronic art and political studies at Bard College in Annandale-on-Hudson, New York and studied creative producing at Columbia University in New York. She is an award-winning VR film producer, a devoted art collector and a successful entrepreneur. Guo also has an extensive background in art dealing between China and the United States.
What Makes Highstreet Unique?
Highstreet (HIGH) is an MMORPG game that blurs the boundaries between physical and virtual worlds. All the in-game items are represented on the platform as ERC-721 non-fungible tokens (NFTs) divided into two fractions. While the purchase of the digital fraction gives players an opportunity to use the item within the metaverse, buying the NFT as a whole allows gamers to also receive the item in real life.
The project ensures the legitimacy of every product sold on the market. The gamified marketplace’s authentication process guarantees that only verified trustworthy sellers can join the platform.
A bonding curve is a mathematical function used to set a relationship between the price of an asset and its available supply. Highstreet (HIGH) implements bonding curves to provide product liquidity for buyers and offer an automated price discovery for sellers.
As video games are currently taking over the industry of group entertainment for the young audience, creation of the in-game presence provides brands with an opportunity to expand a consumer market. Although Highstreet (HIGH) mainly features limited edition products by high-end brands at the present time, the platform encourages both startup and established companies to apply to launch their creation.
How does Highstreet work?
Over the course of this decade, consumer behaviors have shifted drastically, with each generation becoming more digitally inclined than the previous. Highstreet is offering an easy entry to the metaverse with very little expenditure.
Physical products like t-shirts and sneakers can now be tokenized into NFTs and reach more customers around the world. To transit their products into the metaverse, Highstreet will tokenize the item into two fractional NFTs. The first fraction is sold for a relatively lower price and serves as an in-game item for players in the Highstreet World. The brand will profit from the sale of this NFT with no decrease in inventory or added expense.
The second fraction acts as an e-commerce event trigger. Once a player purchases the second fraction, an order will be placed to the brand’s existing e-commerce backend system. The Shopify integration feature allows players to redeem the physical products they purchased from virtual shops at the brand’s offline stores. This seamless transition from physical stores to the web Highstreet is pioneering a novel phygital business model that bridges department stores to Web3 like never before.
Highstreet also features a launchpad for newer and influencer-lead brands looking to expand their businesses. Highstreet Market is a curve-based marketplace for limited-edition products. It uses Street Smart bonding curves to ensure the liquidity of products. Under the automated price discovery mechanism, an item’s price will move with every purchase. This means that the hype, community, or following can directly affect the price. At the same time, brands can customize their own bonding curves to be steep or flat to incentivize more transactions or offline product redemptions.
What is the Highstreet World?
Highstreet World is the gaming layer on top of Highstreet’s e-commerce infrastructure. It’s made up of hexagonal tiles that spread across its entire map. All regions are built in collaboration with brands as an extension of their existing e-commerce presence. As of September 2022, commercial regions in Highstreet World include Binance Beach, AVAX Alps, and Animoca Archipelago.
Players can level up their Player Level and Class Level by completing quests. They can also acquire properties in the regions via the Initial Home Offerings (IHOs). In addition, Highstreet offers an immersive experience by allowing them to visit their homes via compatible VR headsets. Moreover, they can decorate their homes with in-game items, hang out with friends, stream videos at their virtual homes, and hatch their virtual pets.
Homeowners can also enjoy in-game benefits and potential earning opportunities in the Highstreet metaverse. For example, they are entitled to a portion of the 3% transaction fee allocated to residents for every transaction that occurs in the region.
What is HIGH?
HIGH is the native utility token of Highstreet. It’s a multichain token with a maximum supply of 100 million that gradually unlocks as the project develops.
HIGH tokens can be staked to earn rewards, and can be used to purchase in-game items on the Highstreet Market and real estates in the Highstreet World. It is also used for progressing to various regions in the gameplay and accessing exclusive events in the Highstreet metaverse.
How to buy HIGH on Binance?
You can buy HIGH on cryptocurrency exchanges like Binance.
1. Log in to your Binance account and click [Trade] – [Spot].
2. Search “HIGH” to see the available trading pairs (e.g., HIGH/BUSD).
3. Go to the [Spot] box and enter the amount of HIGH you want to buy. In this example, we will use a Market order. Click [Buy HIGH] and the purchased tokens will be credited to your Spot Wallet.
Highstreet offers an easy way for brands to extend their online presence to attract new customers and seamlessly establish virtual storefronts within the metaverse. As the project matures, the phygital experience it creates could potentially change the landscape of e-commerce platforms and onboard more users to Web3.