Identity 20XY is building an innovative project that connects the blockchain protocol with alternative emerging technologies like non-fungible tokens (NFTs) and augmented reality.
Among many other notable utilities, Identity 20XY enables face-to-face virtual meetings while hiding the identity of the user via a customized mask that is represented by an NFT.
In this Identity 20XY review, we explore everything there is to know about this upcoming project.
What is Identity 20XY?
Identity 20XY is a blockchain startup that strongly supports online privacy. The project aims to enhance its views on privacy by using virtual masks. This allows users to participate in video calls and stream videos and photos without showing their faces.
Instead, those viewing the respective video will be able to see a fully-customized mask that replaces the face of the individual. The underlying technology ensures that the virtual mask is aligned fully with the user’s face and thus – remains visually appealing even when the individual moves.
As per the beta release of this project, it appears as if the user is actually wearing a mask. This innovative concept will perhaps appeal to those that wish to speak with people via a video conferencing platform – such as Skype or Zoom while keeping their appearance private.
The technology itself is based on augmented reality and there are more than 5,000 unique artworks that have been created by the team. Moreover, Identity 20XY enables users to fully customize their mask so that it aligns with the personal requirements of the individual.
Another key part of the Identity 20XY project is that its masks will be represented as NFTs. This means users will own their unique mask designs, which can be verified on the blockchain. Identity 20XY has chosen the Ethereum blockchain for this purpose, so each NFT is represented by an ERC-721 token.
This means that users will have the option of selling their mask NFT to buyers via an online marketplace like OpenSea. To ensure that the Identity 20XY augmented technology is accessible across multiple streaming platforms, users will be able to download a native desktop app. While not stated on the website itself, it is assumed that there will also be a mobile app further down the line.
How Does Identity 20XY Work?
In terms of the specifics, below we offer a simplified overview of how the Identity 20XY ecosystem will work.
Mask Minted
The first thing to note is that in order to get hold of an Identity 20XY mask, the user will need to mint an NFT. As noted above, the NFT will ensure that the user owns their mask outright and this is validated on the Ethereum blockchain.
Customization
Although there will be more than 5,000 unique designs, Identity 20XY notes that each mask can be fully customized to the user. This will likely include the ability to change metrics surrounding colors, patterns, and more.
Desktop App
Once the investor has customized their mask, the next step will be to download the Identity 20XY desktop app. This is with the view of accessing legacy video conferencing programs anonymously, such as Skype and Zoom.
Connect to a Call
At this stage of the process, the user should have everything ready to begin making video calls without revealing their identity. As soon as the respective video call is connected, the other user will not be able to see the face of the Identity 20XY NFT holder.
On the contrary, just like in the image above, the user will be able to view the Identity 20XY NFT holder as normal – but with a mask replacing their face.
The mask remains visually attached to the user’s face via augmented reality. This means that irrespective of what movements are made, it appears that the virtual mask is attached to the user at all times.
Identity 20XY Top Features
In this section of our Identity 20XY review, we take a closer look at the top features offered by the project.
Augmented Reality
There are several mobile apps across both the iOS and Android ecosystem that enable users to apply a virtual filter over their faces. However, this is super-basic in design – especially when it comes to aligning with the user’s face.
In the case of Identity 20XY, augmented reality ensures that at all times – it appears as if the user is actually wearing a mask. The virtual mask adapts in real-time based on any movements made.
A More Realistic Metaverse
Another top feature to consider is that the underlying Identity 20XY technology has the potential to offer a more realistic take on the metaverse.
In its current form, first-generation metaverse projects like Decentraland and the Sandbox only support virtual avatars. While avatars can be customized, this offers a somewhat juvenile approach to the virtual world.
In comparison, Identity 20XY could enable users to explore the metaverse and socialize with other users in real-time via video streaming. The identity of all Identity 20XY users will still remain private, as faces will be replaced with a virtual mask.
Facial Motions
To take things to the very next level, Identity 20XY even incorporated facial motions via its augmented reality framework. For example, if the user laughs during a video call, in real-time, the mask will adopt the very same motion.
Once again, this offers a realistic experience when video conferencing while at the same time – protecting the identity of the user.
Forging
Another top feature that the team at Identity 20XY will be working on is the ability to ‘forge’ a mask NFT.
In a nutshell, this will enable two NFT holders to merge their masks together, with the view of creating an entirely new design. The subsequent mask that is created will be represented a newly minted NFT.
While the specifics of the forging process are yet to be released by Identity 20XY, it is possible that ownership of the new mask NFT will be split by both parties.
Exclusive Virtual Carneval
Identity 20XY will also be launching virtual experiences that will enable users to network with other people in an anonymous setting, but in a fully personalized way.
For example, users will be able to attend networking events while wearing their Identity 20XY mask or even engage in live auctions.
Crucially, the idea is to retain a personal communication experience while at the same time, ensuring that the user’s privacy is respected.
Ethereum Network
As the team at Identity 20XY has opted for the Ethereum and ERC-271 framework, this ensures that mask NFTs remain under the sole ownership of the holder. Moreover, this will ensure that NFTs can connect seamlessly to popular marketplaces like OpenSea.
Why Invest in Identity 20XY?
In this section of our Identity 20XY review, we explore some of the key reasons why buying a virtual mask NFT could make sense.
Public Team
Although the Identity 20XY concept is all about respecting privacy, it is notable that the team behind the project are fully transparent.
In fact, the project lists information about its core team members and partners – which can then be further verified through independent research.
For example, the Identity 20XY project is a collaboration between Minyma Technologies and Galaxis.
The former is an established research-based company that explores the innovation of machine learning, blockchain, and fintech. Galaxis, on the other, is a platform for decentralized communities and Web 3.0 technology.
Ultimately, it is notable that the team behind Identity 20XY are willing to reveal their identities, which is often in stark contrast to other NFT projects in this space.
Cross-Platform Adoption
As the Identity 20XY concept becomes more mainstream, there is every chance that the technology will be adopted by other platforms.
For example, the likes of Decentraland and the Sandbox could have an interest in the more realistic social experiences that Identity 20XY masks offer.
In addition to metaverse projects, Identity 20XY masks could also be adopted by social media sites and forums – especially those that adopt an anonymous framework, such as Reddit.
Utility
Unlike many NFTs in this space, the Identity 20XY collection actually offers real-world utility.
After all, the overarching purpose of buying an Identity 20XY NFT is to be able to engage with video calls and streaming with a virtual mask that is backed by augmented reality.
With that said, the utility of Identity 20XY NFTs extends further, with holders having access to ongoing perks – such as exclusive invites to events – both in the real and metaverse worlds.
Future Airdrops
By holding an Identity 20XY NFT, users will be eligible for future airdrops. In a similar nature to crypto airdrops, this means that the NFT holder can earn additional rewards – simply for having the ERC-721 token in their wallet.
One such example includes mask airdrops, whereby some NFT holders will earn unique and exclusive designs.
Early-Bird Advantage
According to the Identity 20XY website, there will be two campaigns enabling users to buy an NFT mask from its limited collection.
The first will come in the form of a presale – which is only available to whitelisted participants. Details of how to become whitelisted will be posted in the Identity 20XY Discord channel in due course.
Nonetheless, those that have access to the presale will have the opportunity to gain exposure to the Identity 20XY project before the masses.
After the presale has concluded, only then will Identity 20XY masks be sold to the general public.
Read More: Learn how to trade NFTs by reading our beginner’s guide.
Identity 20XY Price Prediction
At this moment in time, the team at Identity 20XY is yet to release information on how much its mask NFTs will sell for via the presale and main launch. As a result, it is challenging to make any sort of price prediction at this stage.
With that being said, if there is a limited supply of Identity 20XY masks that will be minted, this comes with the benefit of a fixed supply.
In turn, if the Identity 20XY concept takes off, this offers every opportunity for the value of its NFT to rise in the open market.
How to Invest in Identity 20XY
Those that believe in the long-term vision of Identity 20XY of its augmented reality mask framework can invest in the project by purchasing one of its NFTs.
The specific investment process is yet to be announced, but the basics will likely be as follows:
Step 1: Join the Identity 20XY Discord
It is important to note that the Identity 20XY presale launch will only be available to those that get whitelisted. And, in order to do this, investors will need to join the Identity 20XY Discord channel.
The presale event takes place on September 5th, 2022 – albeit, spaces will be limited to just 2022. It is likely that the presale allocation will be determined on a first-come, first-serve basis.
Step 2: Get an Ethereum-Compatible Wallet
Irrespective of whether investors have access to the presale or the main launch, access to a crypto wallet is a bare minimum requirement.
This can be any crypto wallet that is compatible with the Ethereum blockchain and ERC-721 NFTs. For the most seamless user experience, consider MetaMask.
Not only is MetaMask user-friendly and utilized by more than 30 million crypto investors, but it can be accessed via a browser extension for Google Chrome, Firefox, and Edge.
After downloading MetaMask, the investor will need to set it up by choosing a strong password and writing down the backup passphrase.
Read More: Read our guide on the best crypto wallets to find a suitable option.
Step 3: Deposit Ethereum Into the Crypto Wallet
Once again, Identity 20XY NFTs are built and operational on the Ethereum blockchain. As a result, in order to buy an Identity 20XY NFT, the investor will need to have some ETH tokens in their MetaMask wallet.
Those without any tokens right now can buy Ethereum at a leading online broker like eToro – which supports debit/credit card payments and a user-friendly interface.
Then, the investor will need to transfer the ETH tokens to MetaMask, by copying and pasting the unique Ethereum wallet address.
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Step 4: Connect the Crypto Wallet to Identity 20XY
With just 2022 whitelisted spots on offer, users will need to act first to have a chance of getting in on the Identity 20XY presale.
Those that are successful will likely need to connect their crypto wallet to the Identity 20XY platform when the launch goes live.
For security purposes, MetaMask – and any other wallet for that matter, will ask the user to confirm that they wish to connect to Identity 20XY.
Step 5: Complete Identity 20XY NFT Purchase
Once the investor has connected the wallet to the Identity 20XY presale or main launch dashboard, the final step is to complete the purchase.
As long as the investor has enough ETH tokens in their wallet, it’s just a case of confirming the order and the underlying smart contract will take care of the rest.
This means that the smart contract will deduce ETH from MetaMask and subsequently deposit the Identity 20XY NFT into the same wallet.
The NFT will then remain in the MetaMask wallet for safekeeping.
Identity 20XY Community and Socials
Identity 20XY is currently using Discord as its main communication channel. This is where the team behind the project release updates and developments regarding Identity 20XY – including the upcoming NFT launch.
Joining the Identity 20XY Discord is free of charge and the platform can be accessed via a standard web browser or the native mobile app.
Alternatively, Identity 20XY is also active on Twitter, Instagram, and TikTok. Across all three of the aforementioned social media platforms, Identity 20XY can be found with its username: identity_20xy
Conclusion
In this Identity 20XY review, we have explained everything there is to know about the project.
The overarching concept is that Identity 20XY will enable people to engage in video streaming calls anonymously, as faces as replaced by virtual masks via an augmented reality framework.
Crucially, those buying an Identity 20XY mask will retain ownership via an NFT that operates on the Ethereum blockchain as an ERC-721 token.
To find out more about the Identity 20XY project and its upcoming NFT launch – be sure to join the Discord channel for real-time updates.