Huobi Launches Dominica Metaverse Bound Token (DMBT), Advancing Globalization of Web3 and the Metaverse

THE BLOCKPublished on 2023-03-29Last updated on 2023-03-29

Abstract

Huobi, the virtual asset trading platform, has announced the launch of the Dominica Metaverse Bound Token (DMBT).

Huobi, the virtual asset trading platform, has announced the launch of the Dominica Metaverse Bound Token (DMBT). The launch of DMBT is part of the rollout of the Dominica Metaverse Digital Citizen (DMDC), which was authorized by the government of Dominica in collaboration with TRON and DMC Labs.

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DMBT serves as an on-chain identity for users who have completed their Level-3 KYC verification on Huobi. It serves as a credential for verified DMDC members and is a type of soulbound token (SBT) that is unique, non-transferable, and revocable.

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After successfully completing the Huobi KYC process, users can obtain their Dominica Metaverse Digital Identity (DDID) and become a DMDC. DDID holders are eligible for a physical Dominica Metaverse Identification Card (DMIC). The potential benefits of DMDC membership may cover a variety of on-chain and off-chain use cases utilizing the DDID, including the facilitation of online KYC processes across international crypto trading or financial service platforms subject to local regulations, and collaboration with various membership programs shared by real-life consumer businesses globally.

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Furthermore, users can mint DMBT on the TRON blockchain with their DDID, which can be viewed on any wallet that supports TRON NFT protocols.

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H.E. Justin Sun, Founder of TRON and Global Advisor to Huobi, commented, "DDID will serve as the building block for Web 3 and a bridge connecting the real and virtual worlds. Essentially, the on-chain digital identity system lays the foundation for a future metaverse world that is truly capable of servicing the global population across physical boundaries and national borders in mankind's pursuit toward inclusive digital freedom."

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