cryptoknowmics.com
Virtual reality (VR) is a technology that has so much potential but it just seems like some things are keeping the technology from mainstream adoption. In 2018 alone, the global augmented and virtual reality market was valued at around $26.7 billion, and this figure is expected to reach approximately $814.7 billion by 2025, at a CAGR of 63% from 2019 to 2025. By 2022, the VR gaming market is expected to reach $45 billion in value and the VR market revenue is expected to grow past $26.8 billion. With all these increases in numbers, the global VR user base is also expected to grow from 70 million users in 2020 to 216 million by 2025.
Even with all these positive numbers going for the Virtual Reality space, there are still a couple of hindrances holding the space back at the moment. There's the issue of the lack of quality content within the VR space. High standards for entry and a lot of complexities surrounding content creation for the newbie or average user are also an issue. App creation is also very expensive and even after a user manages to pull through all these, there's a lack of ways to monetize VR activities.
There are a few solutions out there to these problems. Setting up a social VR ecosystem that offers impressive tools for creation and infrastructures to aid easy creativity, sharing, experiencing, and monetizing VR. Also, offering an unlimited amount of unique VR world's that are fully interactive. Offering a new and endless interest in VR that is sure to increase consumer growth. Providing platforms where users at all levels can create VR applications for businesses or fun without necessarily having any technical knowledge. And finally, offering avenues for monetization and rewards and ensuring all VR users (including businesses) benefit by capitalising on these means of monetization. All of these solutions and more is what the guys at NetVRk are offering.
What is NetVRk?
NetVRk's shared Virtual Reality platform is built based on the model of the universe. With everything including planets, cities and social activities. And after dedicating a lot of time and effort to creating the best Virtual Reality experience, the team behind NetVRk has created a platform that allows its users to copy real-world interactions and create VR content by integrating their 3D, codes or visuals to the NetVRk platform. Or users can simply use NetVRk's VR creation tools that are easily accessible on the platform.
The in-game commerce mechanism of NetVRk stands out impressively. Users can buy, sell and trade virtual lands, and these are all held via Non-Fungible Tokens (NFTs). The NFTs can be sold in the in-game marketplace or on an open marketplace like Opensea.io. Users can rent, lease or sell their lands and they can also choose to build structures on their lands or reconstruct the terrain using the in-game tools.
NetVRk's Mission and Vision
NetVRk is aiming to offer a new way of consuming and creating immersive experiences while sharing and monetizing content that will result in a virtual Metaverse with the potential to keep expanding. The idea is to become the path in which the internet evolves.
NetVRk Token Ecosystem & its Utilities
NetVRk’s token is the native utility token for the NetVRk platform and some of its use cases include:
- Buying assets
Users can use the NetVRk token to buy assets in the virtual reality world and these assets can include buildings and vehicles among many other assets that will be found in the NetVRk marketplace.
- Buying lands
Land just like in the real world is also a valuable commodity in the VR world on Netvrk. Users can use the NetVRk token to purchase land in VR real estate hotspots overlooking the beach, or right in front of the city.
- Buying Ad space
Tokens can be used to buy space for advertising purposes. These ad spaces can be used to generate passive income and then be sold to other users for healthy profits.
- Generating NFTs
Users can generate Non-Fungible Tokens (NFTs) using the NetVRk token. This is just another way of earning additional income on the platform.
- Staking
By staking the NetVRk token in the network, speakers can earn a fixed percentage. This is another avenue of earning passive income with the NetVRk token.
Tokenomics, Allocations and Vesting
Market Cap at TGE — $678,750
Hard Cap — $2,502,500
- Team (12.5%) — Locked for 8 months and 5% released monthly starting from the 9th month. 28 months vesting.
- Operations (5.0%) — Locked for 3 months and 10% released monthly starting from the 4th month. 13 months vesting.
- Marketing (6.0%) — Locked for 3 months and 10% released monthly starting from the 4th month. 13 months vesting.
- Advisors (4.0%) — Locked for 1 month and 10% released from months 2 to 11. 11 months vesting.
- Pre-seed Sale (6.0%) — 5% released at TGE. 10% released from months 2 to 4, then 20% for months 5 and 6 and 25% for months 7. 7 months vesting.
- Seed Sale (7.0%) — 5% released at TGE. 10% released for months 2 and 3, then 25% from months 4 to 6. with 6 months vesting.
- Private 1 (6.5%) — 15% released at TGE. 25% from months 2 to 4 and 10% for month 5. 5 months vesting.
- Private 2 (7.0%) — 20% at TGE. 30% released for month 2 and 25% for months 3 and 4. 4 months vesting.
- Public Sale (3.0%) — 50% released at TGE and 25% released every two weeks afterwards.
- Staking/Early Incentive Rewards (20.0%) — Staking rewards while the platform builds traction.
- Community Enrichment Wallet (20.0%) — Multiple usages in the community.
- Exchange Liquidity (3.0%) — 100% used at TGE