Highstreet (HIGH)

About Highstreet (HIGH)

What is Highstreet (HIGH)?

Highstreet (HIGH) is a decentralized, commerce-focused metaverse that merges gaming, shopping, NFTs, and virtual reality (VR) to create an innovative online retail experience. The platform is designed to allow users to explore virtual worlds, earn rewards through play-to-earn mechanics, and purchase phygital products—physical items that are linked to corresponding digital tokens within the game. Users can also interact with traditional brands, engage in social activities, and vote on platform decisions via the governance token, HIGH.

Highstreet’s ecosystem revolves around two main tokens:

• HIGH: The governance and utility token, which is used for voting, staking, and purchasing in-game products.
• STREET: The currency used for transactions within the game, including purchasing virtual goods, paying for quests, and engaging in other commerce-related activities in the metaverse.

Key Features of Highstreet (HIGH)

1. Commerce-Focused Metaverse:
   • Highstreet merges gaming and shopping, creating a virtual space where users can explore, interact with others, complete quests, and purchase both digital and physical items that are tied together through blockchain technology.
2. “Phygital” Products:
   • One of Highstreet’s standout features is its focus on phygital products—physical goods that are tied to digital tokens within the metaverse. This innovation bridges the gap between the virtual and real worlds, allowing users to not only experience items digitally within the game but also receive the physical product in real life.
3. Play-to-Earn Model:
   • Users can earn STREET tokens by completing quests, exploring the world, and fighting monsters. Highstreet implements a play-to-earn model where in-game achievements and activities translate into rewards, creating a dynamic economy.
4. Dual Token System:
   • HIGH Token: Primarily used for governance and decision-making within the platform, allowing token holders to vote on key changes and upgrades. It is also used for staking and marketplace transactions.
   • STREET Token: Serves as the main currency within the Highstreet ecosystem for commerce. Players can earn STREET through gameplay and use it to purchase virtual goods and services in the marketplace.
5. Virtual Reality Integration:
   • Highstreet integrates VR to offer an immersive shopping and gaming experience, allowing users to interact with the platform in a fully immersive 3D space. The incorporation of VR also enhances the metaverse experience, allowing users to socialize, shop, and play in a more lifelike and engaging environment.
6. Automated Price Discovery & Liquidity:
   • Highstreet employs bonding curves to manage the pricing of products in its marketplace, providing liquidity and allowing for automated price discovery. This ensures that buyers and sellers can engage in transactions based on transparent market conditions.
7. Brand Integration:
   • The platform offers a space for traditional brands to enter the metaverse and engage with consumers in new ways. Highstreet acts as a bridge between established retail and the metaverse, giving brands the opportunity to create branded experiences and sell digital/physical goods to a new, tech-savvy audience.

How Highstreet (HIGH) Works

1. Exploring the Metaverse:
   • Users can explore Highstreet’s virtual world, which blends elements of gaming with shopping. The platform offers a range of activities such as quest completion, monster hunting, and social interaction. As players progress, they earn STREET tokens that can be used within the ecosystem.
2. Earning and Using Tokens:
   • Players earn STREET by completing tasks, participating in events, or engaging in commerce within the virtual world. These tokens can be spent on in-game items, upgrades, and phygital products. HIGH tokens, on the other hand, are primarily used for governance (voting on platform decisions) and for staking within the ecosystem.
3. Phygital Products:
   • One of Highstreet’s unique features is the ability to purchase phygital products—physical goods that are tokenized and linked to a corresponding digital version within the metaverse. Users can receive physical versions of items they buy in the game, which could range from fashion products to electronics or branded merchandise.
4. Governance and Community Participation:
   • HIGH token holders can vote on critical issues such as platform upgrades, game rules, new partnerships, and other important changes. This governance structure helps ensure that the community plays a vital role in shaping the future of the platform.
5. Brands and Retailers:
   • Traditional retailers and brands can create virtual storefronts within Highstreet, selling both digital-only goods and phygital products. This provides a new revenue stream for businesses while enabling them to tap into the growing trend of virtual goods and metaverse engagement.
6. Automated Price Discovery:
   • Highstreet uses bonding curves for pricing its products, creating a system where prices are determined by the market’s demand and liquidity. This helps provide fair pricing for buyers and allows sellers to discover competitive prices for their products automatically.

Potential Use Cases for Highstreet (HIGH)

1. Metaverse Shopping:
   • Highstreet redefines e-commerce by enabling users to shop for physical and digital goods in an immersive virtual environment. Users can not only purchase virtual items but also receive corresponding real-world items, which provides added utility and creates a more tangible connection between the digital and physical worlds.
2. Gaming and Earning:
   • Highstreet offers a play-to-earn model where users can earn tokens by completing quests and activities within the game. This gives players incentives to spend time in the metaverse, completing tasks and fighting monsters to earn STREET tokens.
3. Virtual and Real-World Brand Engagement:
   • Highstreet provides an avenue for brands to engage with consumers in a novel way. Traditional retail brands can create interactive, virtual storefronts that allow customers to explore and purchase products in both the digital and physical realms, driving brand engagement and revenue in new ways.
4. Governance and Community Decision-Making:
   • HIGH token holders have a say in the development and future of the platform. From voting on new features to deciding on partnerships or platform upgrades, users actively participate in shaping the direction of the Highstreet metaverse.
5. Phygital Goods Market:
   • The concept of phygital goods—physical items tied to digital tokens—opens up entirely new opportunities for the metaverse economy. Users can buy virtual goods that have tangible real-world value, bridging the gap between virtual and real-world retail.

History of Highstreet (HIGH)

Highstreet was originally LumiereVR, a computer vision company founded in 2015 by Travis Wu and Jenny Guo, both of whom have extensive backgrounds in software development, blockchain technology, and VR. LumiereVR was rebranded to Highstreet as the company shifted its focus to building a commerce-driven metaverse that integrates gaming, shopping, and NFTs.

The HIGH token was first launched in October 2021, and since then, Highstreet has been in private alpha testing with plans to move into public beta testing. As the platform continues to develop, its integration of traditional brands, gaming, and the concept of phygital products positions Highstreet as a leading player in the metaverse space, offering a unique blend of e-commerce and gaming experiences.