Metaverse Token Caduceus to Launch on ByBit

Metaverse protocol Caduceus is set to launch its native token CMP on digital asset platform ByBit this month.

Billed as the "world's first decentralized edge rendering metaverse protocol," Caduceus promises to marry the technology of edge computing with blockchain, bringing more immersive experiences to the metaverse while ensuring user privacy through decentralization.

"After almost three years of research and development, Caduceus has created a robust protocol to provide an infrastructure layer of future Metaverse development," said Caduceus co-founder Tim Bullman in a recent interview, describing the platform as "a Metaverse productivity tool with the ability to unlock the the potential of the creator economy."

CMP will be available on ByBit and other trading platforms from Monday July 25.

What is Caduceus?

The open blockchain platform aims to overhaul the existing infrastructure of the metaverse, which is heavily reliant on centralized data centers. Edge computing, in which data is processed locally, delivers reduced latency, increased graphical fidelity and greater immersion for metaverse experiences.

With the metaverse set to gather vastly increased amounts of user data, edge computing also promises to increase user privacy, since data processing will be conducted locally rather than on cloud services controlled by tech giants such as Amazon and Google.

Caduceus also promises to leverage the unique capabilities of blockchain and decentralized infrastructure. Digital objects within the metaverse will be represented by non-fungible tokens (NFTs) that offer true ownership to users of the platform; by using decentralized storage platform IPFS to host the content of NFTs, Caduceus' metaverse will be censorship-resistant.

Caduceus will also support open-source XR (extended reality) hardware including 1080p streaming glasses, an Android-based operating system and 3D user interface, and the Caduceus XR-Box, a blockchain smart hardware box. An XR-SDK with support for head tracking, face recognition and gesture detection will also integrate with Unity's 3D AR engine to support metaverse game development.

The platform has already partnered with 3D NFT fashion brand HAPEBEAST, with founder Digimental lauding the Caduceus blockchain's "easy adoption, fast transaction speeds, and super low gas fees," as HAPEBEAST prepares to "implement CMP tokens in our ecosystem to start to create a seamless metaverse experience." With the launch of the platform's "virtual city" Cadu set for Q3 2022, users won't have to wait long for their first glimpse of the Caduceus metaverse in action.