The metaverse is in the hands of the builders. After the initial hype in metaverse token madness, there has been an appropriate retracement. Yet the lull will not be idle. Thousands of metaverse projects working tirelessly create interconnected virtual landscapes that may well define much of our future societal interaction. By leveraging the ownership economies of the blockchain, these companies, DAO, projects and communities will be future linchpins of our Web 3.0 world.
They need to use their treasuries. A huge array of crypto projects have built up substantial on-chain treasuries as a result of token, NFT, and P2E gaming launches. This in addition to crypto angel capital and speculators adding their funds to the pot. They already have a loyal community, a great team, and the money to start building – then the problems begin.
Virtual Worlds; Real Costs
Building the worlds of the metaverse – gaming, social, and VR – incurs plenty of expenses. Licensing a game engine, buying hardware, renting office space, paying workplace subscriptions, and much more besides. Even sending your project to a Web3 conference can be a nasty expense for project leads, who are wielding a giant on-chain treasury but have zero IRL funds. They want to take their mission to the next level, have the funds to do so, but can’t use them.
Sticking to a decentralised ethos and releasing those funds for directors through on-chain voting can be cumbersome, and communities get suspicious when the team are drawing down shared treasuries to pay for real world expenses. It’s no way to run a business, especially one at the cutting edge of technological advance.
How Rain Acts as Native Metaverse Payment Rails
Rain is a corporate crypto credit card that helps DAOs and web3 projects professionalise and use a native metaverse payment rails that helps deploy on-chain capital seamlessly for real world business expenses. Fine-grained spending controls can be applied to the card through community proposals on a decentralised wallet, and Rain’s architecture means clients can access Visa or Mastercard rails to buy from merchants globally.
It requires no centralised exchanges, bank accounts, or crypto to fiat swaps, eliminating these fees and ensuring capital efficient spending right across the entire business. The efficiency derived will directly impact the treasuries bottom line, saving the community money and time.This is essential for the builders of the metaverse to unlock the true potential of both their treasuries and their communities.
With access to Rain, teams can pay the business expenses they need to thrive, but with secure spend management and direct path from decentralised wallet to merchant still in place. DAOs and web3 projects need plenty of tools, SaaS, and B2B payments in order to create the new metaverse, and Rain lets them sign up for subscriptions straight out of their on-chain treasuries.
Credit Rain for Metaverse Success
As old web2 systems merge into web3, the interoperability between traditional finance and the metaverse will continue to break down. Web3 promises not a few corporate institutions owning everything, but thousands and thousands of key players in a broader corporate ecosystem, serving the needs of naturally diverse communities. Banks will not be comfortable working with the huge army of DAO customers that the metaverse demands. They are not prepared.
Rain’s integrated foundational Web3 finance is the on-chain to off-chain payment rails needed for the metaverse to thrive. It’s a crypto-native, decentralised solution to deploying web3 capital and crypto in the business world, and by doing so build the defining future worlds of our time. The metaverse is made of money, and Rain manages it.