What is Highstreet?

Highstreet (HIGH) is a decentralized, commerce-focused metaverse that integrates gaming with shopping. It is built with virtual reality (VR) support and aims to redefine the online retail experience. Highstreet uses its native token, HIGH, and a utility token, STREET, to facilitate in-game transactions and governance. The platform allows users to explore the metaverse, complete quests, and acquire goods that have both digital and real-world utility. The aspect of Highstreet that sets it apart is its concept of "phygital" products, which are physical items bonded to corresponding digital tokens, providing additional utility within the metaverse.

How does Highstreet work?

Highstreet operates as a play-to-earn metaverse where users can engage in various activities such as exploring the virtual world, fighting monsters, and completing quests. The platform uses two tokens: HIGH, which is a governance-heavy token, and STREET, which serves as the primary currency for commerce within the game. Users can earn STREET by completing tasks in the game. HIGH is used for voting on major platform decisions, stacking for potential returns, and purchasing products on the marketplace. Highstreet also implements bonding curves to provide product liquidity for buyers and offer automated price discovery for sellers.

What are the potential use cases for Highstreet?

Highstreet provides a blend of gaming and shopping, offering a different dimension to the online retail experience. Users can purchase "phygital" products, which are physical items bonded to corresponding digital tokens, providing additional utility within the metaverse. This allows users to use items within the metaverse and also receive the item in real life. Highstreet also provides a platform for brands to establish their presence in the virtual world, providing an avenue for consumer engagement. Furthermore, the platform's governance model allows users to participate in decision-making processes, fostering a sense of community and ownership among its users.

What is the history of Highstreet?

Highstreet was rebranded from a computer vision company, LumiereVR, established in 2015. The co-founders of LumiereVR and Highstreet are Travis Wu and Jenny Guo, both of whom have extensive backgrounds in software development, blockchain technology, and VR. The Highstreet token first went live in October 2021. The platform has since been in private alpha testing and is currently in the process of public beta testing. Highstreet's approach to integrating shopping with gaming positions it as a player in the metaverse space.