Sushi Store in Metajuku Shopping District in Decentraland

Sushi Store in Metajuku Shopping District in Decentraland

Dear Sushi fam,

I’ve been speaking to Republic Realm who recently opened the new Metajuku shopping district in Decentraland and I’ve reserved a five-story building which I think would make for an interesting sushi experience.

This is a proposal to open a sushi space that would require ~$10,000 or more investment to make it how we want.

Imagining the space

Ground floor - SushiSwag store which sells metaverse wearables and physical merch

Second floor - Learning space on sushi products (Miso, kashi, Inaru, shoyu etc.)

Third floor - Sushi inspired NFT, meme, and art museum curated by the community

Fourth floor - I don’t know to be honest but I’m sure we could think of something

Fifth floor - A sushi bar has to be on the top floor, right?

This black building is the largest available and I believe the fascias are fully customisable. If this is too big there are smaller options. You can check out the buildings here.

What are Republic Realm’s terms?

Tenant’s obligations

  • Provide merchandise to sell in the store and collaborate with developers to implement merchandising and display in the store.
  • Operate and publicise the store

Lease term

  • 1 year commencing on the opening of the store, with automatic 1-year renewal options, up to a maximum of five years

Base rent

  • $0 per month

Percentage rent

  • After the first month of the lease term, 10% of all attributable store sales in excess of $10,000 per month

Security deposit

  • None

Premises

  • Landlord will deliver a __sf store in Metajuku in “plain vanilla shell” condition
  • Landlord will implement Tenant’s designs, subject to design limitations and constraints of the metaverse and also subject to the Tenant Improvement Alliance outlined below.

Tenant Improvement Allowance

  • Landlord will provide
    – Design-build consultation: to assist tenant in determining what is reasonable and practical
    – Design: delivering a set of plans for 3D development
    – Implementation and deployment including up to four hours of store customisation (3D developer and implementation)
    – Additional hours of 3D development billed at $200/hour to the Tenant and payable prior to deployment

Signage rights

  • Tenant will have the right to provide better signage to the exterior of the store subject to design standards

IP rights

  • Landlord will own rights to the code source-file for the store, but not any merchandise
    or signage owned by Tenant. RR agrees to protect Tenant IP to the extent that it is
    commercially reasonable.

Publicity

  • Landlord will have the right to announce the Tenant in press and marketing materials.

For

  • We could be the first DEX with a metaverse presence
  • Metajuku is a fitting name that takes its inspiration from the Harajuku shopping district in Tokyo
  • This location was the largest land sale in DCL history which has made the rounds on crypto news sites. Example: Republic Realm is building a virtual shopping district in Decentraland
  • Opportunity to sell metaverse wearables which avatars can wear all across Decentraland
  • Informational area can provide an interactive and educational experience for Sushi products
  • A chance to hang out with friends at the sushi bar
  • More brands could come into this district to occupy other stores. It’s an interesting space that lends itself to launching your flagship metaverse store.

Against

  • The footfall in Metajuku doesn’t appear to be great at the moment. There are only two other tenants, occupying only 2 out of 6 buildings
  • $200/hour design fee for the 3D design work to make it look how we want. I asked what the typical design time looks like and I was told 40-50 hours. This differs in the complexity of fixtures, fittings, animations etc. I suspect ours would be quite complex since it should be special
  • This isn’t a permanent lease. We are guaranteed up to 5 years but what happens after? If we like the idea of being in DCL is it worth actually purchasing our own land instead of leasing?

Promoting the store

  • Free wearables to first-time visitors to encourage traffic
  • Republic Realm will include us in press and marketing
  • We could host product events. POAP NFT’s to visitors? Could host the weekly sushi forum there?

Disclaimer: I plan to design and sell sushiswag wearables in this store and I would take all sales profit as compensation for time spent.

Overall

I believe this is a good opportunity to provide a different layer of experience for the sushi brand. The total costs for the 3D design work relative to what the protocol is earning per day is very small. The net gain is questionable as we are in the very early days of the metaverse. It may get little to zero traffic, however we can influence how successful it will be with a unique building and interior design, cool and desirable NFT wearables, hosting events and through promoting on social media. It is the first shopping district like this in Decentraland, we may get lucky if big brands come to occupy neighbouring buildings. If we like this idea but would rather buy our own land to do this I think that would also be a smart idea.

I think this deserves a discussion at least. What do we all think?

  • I like this idea
  • I’m against this idea

0 voters

2 Likes

Cant wait to go NFT shopping at the shoyu store on level 3!

2 Likes

To address any concerns about the current footfall at Metajuku, please bear in mind this is very new and marketing hasn’t kicked in yet. RR have implemented POAP and plan to create activations to bring traffic here.

Interesting. I don’t have the resources to invest in this myself at this point, but thanks for the tip about Decentraland. My computer is not strong enough to run Decentraland, but Decentraland could be big going forward. I picked up a little bit of MANA, the Decentraland currency, ahead of the Decentraland “To The Moon” music festival this coming weekend.

Love this. Super cutting edge. Especially considering SushiSwap’s entrance into NFTs with Shoyu, I think this is a great move.

It could also be a great space to host virtual events/parties, which would be beneficial for community building.

If there’s a slightly smaller building I’d favor that to start off. I don’t think five floors are needed. Otherwise, I think it’s fine. Certainly, I wouldn’t sacrifice a prime location. It’s still wayy early days, footfall will come in time…

4 Likes

I’d assume anyone this early in the metaverse is going to be a WHALE or an enthusiast.

Either way they are the correct audience! :partying_face:

1 Like