Written by Rick Woo on Digilah (Tech Thought Leadership)
My name is Rick Woo, born in Hong Kong and graduated from Australia. To me, I did experience the journey from Web 1.0, Web 2.0 and now Web 3.0. What I see is we must embrace technology. Also, I pretty much tend to use the buzzword “gamification”, here is the reason.
I started up LOST in 2013, a real-life escape game that gives gamers an all-rounded experience (www.losthk.com).
Introduction
LOST will launch a play-to-earn and play-to-learn mechanism, which has been made viable by blockchain economics. Play-to-earn model enables players to be rewarded by playing LOST games; and the play-to-learn model enhances players to attain knowledge throughout LOST games. Together with our existing stores and future stores, this revolutionary model will disrupt the market and create a different income stream by the OMO (online merge offline) concept, plus LOST Token and NFT assets, the ultimate GameFi & SocialFi world is born.
Escape in Metaverse
Now, LOST officially announced its entry into the Metaverse, creating the world’s first Metaverse escape room. Founded in 2013 and headquartered in Hong Kong, LOST (www.losthk.com) currently has 14 branches around the world, together with its sub-brand LOST Junior, offering players an unique game experience throughout different story themes and self-developed auto-gadgets. From children to adults, individual to corporate, shopping malls to schools, indoor to outdoor, and now offline to online to create an OMO (online merge offline) Metaverse game experience.
The 4E business model
The entire business model is a combination of virtual and reality, via our ESCAPE game, connecting the physical store and the virtual store, which enhance the user experience on ENTERTAINMENT. For instance, players can continue to challenge the rest of the escape game after they did the online / offline one. Every time when they cracked the riddles or unlocked the chests may receive a limited NFT, this will be an integration for online / offline customers to have a greater user experience. Besides, any kind of brands / products can also be promoted through this experiential EVENT, such as sports brands, can issue NFT or Tokens of limited edition sneakers and store them in the treasure box, allowing challengers to win it by unlocking, as a result to to increase the sales and strengthen brand effect. Furthermore, together with our sub-brand LOST Junior, we will create an experiential EDUCATION, let the child learn while playing, like story-telling, science explanation, strengthen social skill through our escape game, a comprehensive play-based learning experience.
NFT in the escape game
LOST will have different themed rooms in Metaverse, and various virtual props / tools / gadgets will be used to unlock each mission level. These unique props are exactly NFTs, which can upgrade the player’s level for cracking the harder levels; on the other hand, those NFT items will have a potential market value. Digital assets in Metaverse could be a painting, a key, weapons or equipment. It is also your certificate of passing the escape game level, as you need it to reach the higher level with these items, as a result the value of these NFT items is created. Moreover, the crypto currency “LOST Token” will be hidden in different places randomly, players can collect them and redeem it at LOST physical stores as tickets. This crypto currency can also be used for purchasing equipments, items to equip your avatar in Metaverse and convert them into digital assets. In the future, players can create their own escape game rooms in Metaverse and build their own revenue stream.
The future of LOST Island
The whole concept of LOST is to create play-to-learn and play-to-earn. Throughout the escape game experience not only the players will attain the knowledge, but also gaining the NFT / Token. Moreover, brands’ joint promotion can also be benefited by riding on this OMO (online merge offline) business model, creating brand awareness and increasing market value. In the future, LOST looks forward to building a virtual world based on Web 3.0 and will be named as LOST Island.
An Edutainment world with education and entertainment, a gaming ecosystem with infinite possibility.
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