Metaverse ETP is a platform that enables the creation of smart-assets, which are digital tokens that represent real world assets. According to the project’s whitepaper, once a smart asset is registered on the blockchain, a Proof-of-Asset mechanism is used to confirm its existence through “Oracle Intermediaries,” which can be network users themselves or trusted institutions. Even though the existence of the real-world asset backing the smart-asset is supposedly verified by this mechanism, Metaverse does not allow delivery. Registration fees, as well collateral for assets listed on the Metaverse blockchain will be paid in ETP, the network’s native currency. In its initial implementation, Metaverse will have a Proof-of-Work consensus mechanism, a target block creation time of 24 seconds and a block reward of 3 ETP. The same document states that, “as the project matures,” the consensus method will be changed to Metaverse’s implementation of Delegated Proof-of-Stake.