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Netvrk
Netvrk is a multichain metaverse with tools enabling users to monetize their creations via NFT s and Virtual Land. Built on the Unreal Engine, Netvrk aims to become the next evolution of the internet by offering the world a way to consume and create immersive experiences while monetizing and sharing content that will result in an ever-expanding virtual metaverse.
The Netvrk ecosystem is powered by NTVRK, the native utility token, which can be used to purchase assets within the Virtual Reality World.
In October 2021, Netvrk made over $17 million in less than two months in the sale of a Virtual Land NFT and Transport NFT sales. Both NFT sales took place over several launchpads and venues, including ChainBoost, Ferrum, Poolz, Trustpad, NFTPad, CyberFi / Samurai, BlindBoxes, PolyLauncher, Bondly Finance, Mantra DAO, OxBull, Spores, NFTrade and more.[1][2][3]
Overview
The project was developed by Xmod, a VR simulation studio producing complex simulation for a variety of industries: tech companies, architects, real estate agencies, and more.
Netvrk is a social platform with powerful creation tools and infrastructure, which allows users to easily create, share, experience, and monetize VR with a focus on gaming, education and virtual workplaces built around ownership of virtual land and assets. Netvrk has been in development since 2016, starting with a prototype of VR goggles developed by the founder and CEO Michael Katseli.[4]
Netvrk allows users to create, share, and monetize their creations using an intuitive in game editor, negating the need for any coding skills or special knowledge. Users can buy, sell, and trade land, which is held via Non-Fungible Token (NFT). These Non-Fungible Tokens (NFTs) can be transacted in game or using a third party site such as OpenSea. Besides being able to rent, lease, or sell land, land owners can choose to modify the terrain and build structures using the in game toolset. Users can then host a social scene, a company meeting, or an interactive demonstration.[5]
Tech
Netcrk partners with Polygon (formerly Matic Network) by utilizing it’s side chain solution,to keep user’s transaction fast and secure.
Polygon utilizes a technology called Plasma, which allows it to process transactions off-chain, before finalizing them on the Ethereum main chain. With Plasma Chains, POS Chain, ZK-rollups, and Optimistic rollups, Polygon has a suite of tools that allows it to overcome the built in limitations of Ethereum.[6]
Netvrk VWGen Technology
This technology is capable of generating an unlimited number of unique, fully interactive VR worlds. The ease of creating new worlds as soon as new users join the platform will assist with the addition of diverse content to Netvrk.
User-generated content will be reviewed first, and only then will it be integrated into the database. The platform will use this system to highlight specific users and content within the database for further use and monetization.
The VWGen editor allows everyone to get involved with VR, providing tools and functions to create VR applications quickly and efficiently within a sandbox environment. The fact that users can create VR applications without prior programming or design experience opens the platform to a wide and diverse group of people and businesses who wish to become part of the community and enter the business of VR application development.[1]
Features
Easy to Use/Navigate
Users who wish to participate in Netvrk with a VR device can freely navigate the different regions of the Netvrk universe using their own spaceship, on foot, or via ground and/ or air vehicles. They can also simply select where they want to go by accessing the main menu. All Netvrk content will be available on the marketplace in categories like “TOP”, “NEW” etc.
Smart Ownership and Using Smart Contract
All platforms available in the Netvrk Marketplace or uploaded by creators are presented with the NFT ERC-721 token standard. This means that they contain the owner’s information within their metadata, therefore providing proof-of-ownership. Additionally, users are able to select the kind of ownership they want. The types of ownership include full ownership, partial ownership, and type of license.
Netvrk smart contracts will be exceptionally convenient, allowing users to create and rewrite license agreements with all the required features within a user-friendly interface.y
Scanned 3D Models
Netvrk will provide a 3D scanning mobile app that will allow any user to convert a real product or prop into a 3D model and automatically upload it onto NetVRk.
Adding Content
Users can upload assets they have created using third-party applications, and integrate them into Netvrk by following the platform's compatibility requirements in terms of file extensions, settings, and software setups.
Music, Videos and other Art Medium
Music, sound effects, 2D illustrations, videos, and 2D images can be easily imported into Netvrk as long as they comply with Netvrk’s policies and software requirements.
Selling and Trading Content (NFTs)
Users will be able to Sell and Trade Content on Netvrk, including original content they have uploaded and added to the marketplace, content they own the copyright for, their own virtual real estate in the Netvrk universe, and any other content they own and is stored in smart-contract form associated with their Netvrk blockchain account.
Other Currencies Acceptance
Netvrk will offer users the opportunity to accept a variety of currencies and payment methods in addition to the native tokens of the platform, $NTVRK. It is the user’s choice to set his/her crypto wallet to receive payments in multiple currencies.
NetVRk will charge an extra fee for transactions in other cryptocurrencies, whereas transactions in $NTVRK will incur significantly decreased fees.
P2P Payments
This feature help users desiring to exchange property with each other, to do so directly using their Netvrk wallets. To conduct these types of transactions, both the seller and buyer will be using Netvrk’s user-friendly smart-contract interface, which allows them to access each side of their inventory to choose the item/s they want to exchange, enter the buyer ID, and set the price.[3][4][7]
NTVRK Token
NTVRK is Netvrk’s native utility token for the platform based on the Ethereum Network (ERC20). Users who utilize the Netvrk platform can use the token for many in-game transactions. Also, they have option to receive payments in any form of digital currency. However, transactions that utilize NTVRK will receive significantly lower fees than transactions using other cryptocurrencies.The token has a maximum supply of 100,000,000 NTVRK coins with about 41,079,834.11 NTVRK already in supply.
NTVRK Token Use Cases
Some use cases of NetVRk’s token NTVRK include:
Token Use Cases
- Used to Purchase Assets: The NETVRK token can be used to buy assets within the virtual reality world created by users. Assets can include buildings, vehicles, houses along with many others that will be found in the NETVRK market.
- Can Be Used to Purchase Land: Users can also utilize these tokens to purchase or conduct a NetVRk land sale within the NetVRk VR world. They can do this in prime real-estate hotspots such as those overlooking the beach or those in front of the city.
- Buy Advertising Space: NTVRK tokens can be used to buy advertising space, which can be used in peer-to-peer transactions to display user advertisements to generate advertising income or resell to other parties.
- To Generate NFTs: Users can use the NTVRK tokens to generate Non-Fungible Token (NFT) on the platform, which may be utilized, or traded between players in a peer-to-peer manner.
- Staking: Users can receive a fixed percentage of profits based on the number of NTVRK tokens they have staked in the network.
IDO-Token Generation Event
The token sale campaign is launched with chosen exchanges to provide users with the ability to purchase $NTVRK ERC-20 utility tokens. $NTVRK grants access to the NetVRk platform, will be tradable on public exchanges, and can be used in peer-to-peer transactions between users on the public Ethereum Blockchain.[8][9]
Tokenomics
| Category | Allocation | Price | Tokens | Locked Until | Vesting (Months) | Notes |
|---|---|---|---|---|---|---|
| Team | %12.5 | 12,500,000 | 8 Months | 28 | 5% Monthly starting month 9 onward | |
| Operation | %5 | 5,000,000 | 3 Months | 13 | 10% monthly starting month 4 onward | |
| Marketing | %6 | 6,000,000 | 3 Months | 13 | 10% monthly starting month 4 onward | |
| Advisor | %4 | 4,000,000 | 1 Months | 11 | 10% for months 2 to 11 | |
| Pre-Seed Sale | %6 | $0.040 | 6,000,000 | 7 | 5% at TGE. 10% for months 2 to 4, then 20% for months 5 and 6 and 25% for months 7 | |
| Seed Sale | %7 | $0.070 | 7,000,000 | 6 | 5% at TGE. 25% for months 2,3 and 25% for months 4 to 6 | |
| Private 1 | %6.5 | $0.085 | 6,500,000 | 5 | 15% at TGE. 25% for months 2,3 and 4 and 10% for month 5 | |
| Private 2 | %7 | $0.110 | 7,000,000 | 4 | 20% at TGE. 30% for month2, 255 month 3 and 4 | |
| Public Sale | %3 | $0.150 | 3,000,000 | 1 | 50% at TGE and 25% every 2 weeks afterwards | |
| Staking/Early Incentive Wallet | %20 | 20,000,000 | Staking rewards while platform builds traction | |||
| Community Enrichment Wallet | %20 | 20,000,000 | Community Multiple Usage | |||
| Exchange Liquidity | %3 | 3,000,000 | 100% used at TGE | |||
| Total | %100 | 100,000,000 |
Tokenomics
TGE Circulation Token Type
| Token Type | Tokens |
|---|---|
| Pre-See | 300,000 |
| Seed | 350,000 |
| P1 | 975,00 |
| P2 | 1,400,00 |
| Public | 1,500,00 |
| Total | 4,525,00 |
Netvrk Virtual Land
Virtual Land in Netvrk offers users the opportunity to own a digital asset, free of interference. Virtual Land will be a limited, scarce asset, that can be traded in the Netvrk Marketplace, as well as third party marketplaces such as OpenSea.
User will also have the ability to “give away” or list for rent or sell their land and monetize it. This includes part ownership so they can enjoy the revenue from renting.
Users can sell their virtual real estate by giving full or partial rights of ownership to the buyer, or even temporarily leasing their land in exchange for revenue-sharing. The land a user can own is not limited to a single lot, but could be a whole section in a city, a whole continent, or even the whole universe.
Land enables users to have a virtual presence in the Netvrk Metaverse. Virtual Land is the basis of users building and deploying assets, and NFTs, created and imported via the Netvrk Sandbox Editor.
Land will be limited to a set number of parcels consisting of Standard, Medium, Large, Giant, and Epic. For the Land Presale, only Standard, Medium, and Large will be available to purchase.[1][5]
Virtual Land Uses
1. For Personal Use: Users buy virtual land for personal use. They spend time by themselves or host their friends. If they wish, they can also design with original, free, or paid content from the marketplace.
Netvrk Metaverse Land Reveal
2. Commercial Use: Users also Purchase Virtual Lands for Commercial Uses, to make extra gains.
- Advertising: To monetize their activity on NetVRk, users can integrate advertisements in both commercial and personal spaces. NetVRk will provide several interactive virtual “billboards” per certain size of land for users to experiment with.
- Content: Users will be able to operate virtual stores and offer goods to NetVRk users from their virtual land. NetVRk and third-party partners will provide interfaces with dashboards where users can either integrate their products or choose from lists of suppliers, depending on what they believe will sell best on their land and to their target audiences.
Owning land on NetVRk is similar to owning a website or physical property, whether commercial or private. Property owners on NetVRk will have the ability to monetize and use their land in many other ways.
Netvrk: Genesis Islands
Netvrk’s Genesis Islands are the heart and soul of the Netvrk multiverse.Its vision is a vibrant virtual world, where users can make new friends, build their dream, and participate in a developing economy, utilizing new Play to Earn models, join in interactive mining, take part in music concerts, and much, much, more.
NFT Collection
Land
Netvrk has four different NFT collections which can be purchased on OpenSea.
Land
Virtual Land enables users in the Netvrk Metaverse to deploy assets, monetize their land, as well as receive Netvrk Reserve distributions.
Transporters
Transports offer travel utility in the Metaverse, future body kits unlocked, increased staking rewards, and Netvrk Reserve distributions.
Avatars
Avatars function as either a user's primary avatar or companion. Each avatar grants VIP access to exclusive Netvrk events.
Bonuses
Bonuses Enables unlimited daily resources, boosted ad/referral earnings, free enrollment in NFT Lottery and discounts on featured NFTs.
NFT Sale
In October 2021, Netvrk made over $17 million in the sale of a Virtual Land NFT and Transport NFT sales. Both NFT sales took place over several launchpads and venues, including ChainBoost, Ferrum, Poolz, Trustpad, NFTPad, CyberFi / Samurai, BlindBoxes, PolyLauncher, Bondly Finance, Mantra DAO, OxBull, Spores, NFTrade and more.
The Official Minting Date for the Virtual Land was opened on November 12th, 2021.[10]
Netvrk Marketplace
The Netvrk decentralized marketplace was developed within the Ethereum Blockchain. This solution allows a direct connection between buyer and seller, thereby reducing fees and increasing transaction speed. Within the NetVRk Marketplace, users will be able to securely interact in the virtual reality environment, easily creating their own worlds, universes, and/or VR content. They will also be able to trade or lease it using Smart contracts in the decentralized environment.
Items placed on the marketplace will go through a two-step content filtering system where both the community together with NetVRk’s dedicated team will have to review the item.[1]
Project EVE
NetVRk and VersoView have unveiled the first use case collaboration of their partnership, developing Education in a Virtual Environment (EVE). Project EVE combines the unparalleled user immersion, design and learning tools of social virtual reality platform, NetVRk, with the content delivery capabilities of the publishing, engagement and rewards platform, VersoView.
Currently Project EVE is engaged with delivering MoUs with Universities focused on developing virtual and distance learning spaces and engineering and digital design tools. Project EVE is not just the first step of the virtual education revolution that will be built on Blockchain technology, it is the EVE of a new paradigm in educational engagement, Gamification and rewards that will disrupt every facet of human learning.
Partners and Investors
Partners
- xToadz
- Psilo
- The Red Ape Family
- Kindi Architects
- Creepy Creams
- Witly
- DinoDawg Kingdom
- Inferno
- Travala.com (AVA)
- Jurassic Punks
- CryptoDocs
- FOMO Labs
- Martians vs Rednecks
- MELD
- Gaia Everworld | Blockchain Game
- DeSpace Protocol | DeFi and NFT platform
- MetaWars | Blockchain Game
- PixelVerse | Multichain NFT Ecosystem
- SpaceSip | Blockchain Game
- GameStation | Launchpad and Marketplace
- aiRight | AI x NFT x DeFi
- CryoWar | Blockchain Game
- Vera | NFT Marketplace
- TryHards | Blockchain Game
- CryptoWalkers | Generative NFTs
- PolkaEx | DeFi and Launchpad
- Revolve Games | Metaverse, Blockchain Game
- Sleezy Sloth Syndicate | Generative
- Degen Gang | Generative NFT Series
- Monsters Clan (MONS) | Blockchain Game
- PolyLauncher | Metaverse-centric Launchpad
Investors
Netvrk investors include Gains Associates, Brotherhood, Moon Mafia, Aussie Capital, Dutch Crypto Associates, Kangaroo Capital, FungWeiss, Maven Capital, BCA Investments, DeFi Boost, Fairum Investments, The Crypto Lifestyle, DuckDAO, 3M Capital, Spores, Mantra DAO, and many more.
Team
Team Member
NetVRk project was created by Xmod Studio. Xmod has recruited diversely skilled professionals, from developers to researchers, to VR experts, to create a highly functioning synergy of minds in order to turn the vision to a reality.[11]
| Name | Position | Bio |
|---|---|---|
| Michael Katseli | FOUNDER, CEO | Michael is the founder of Xmod (previously Intvisco), a VR simulation studio. Xmod creates complex simulation, both graphically and software-wise, for a variety of industries such as high-techcompanies, architects, and real estate agencies. The studio has been developing its own API, NetVRk, for the past two years, starting with a prototype of VR goggles self-developed by Michael five years ago. Previously, Michael led and co-founded software development startups in the field of mobile applications, 3D simulations, engineering, and augmented and virtual reality. |
| Linus Chee | CO-FOUNDER, Chief Operating Officer | Linus studied entertainment design under some of the best designers in the world at Gnomon School of VFX in Hollywood, and Brainstorm School in Burbank California. He started working as a graphic designer and art director for Dreamlab Gaming/Studios. After several years, Linus was recruited by Xmod, Inc. where he joined Michael Katseli in founding Xmod’s own IP “NetVRk”. Linusis now part of a development team providing high-end VR solutions and entertainment, and leads the concept design, art direction and management for the company. |
| Jay Shindell | Chief Operating Officer | Jay Shindell has over 25 years of experience in the motion picture industry, in animation, visual effects, and live-action films. He has worked as an artist, creative executive, producer, editor, writer, and director, and has contributed to the success of over 50 motion pictures, such as Spider-Man 3, Minority Report, I, Robot, The Day After Tomorrow, and many other blockbusters. In addition, he serves as a consultant to the industry and as an instructor at the Gnomon School of Effects and Animation. Jay also worked for nine years as an animator at Walt Disney Animation Studios, providing effects animation on The Lion King, Pocahontas, The Hunchback of Notre Dame, Hercules, Mulan, and Tarzan. |
| Sam Wey | Chief Technical Director | With twelve years of experience in the entertainment director industry, Sam Wey is a uniquely well rounded creative and game designer focused on crafting compelling interactive experiences. His passion for video games has fueled a career spanning art, game design, and story development. He began his career at Nickelodeon Animation Studios on shows like the Kung Fu Panda television series. After discovering a passion for crafting experiences, he transitioned to game design for video games like ABZU, Friday the 13th, Star Citizen, and Capcom’s Lost Planet 3. His interest in emerging immersive technologies has inspired his most recent accomplishments; including the AR app, Follow Me Dragon and the VR LBE Jurassic World VR Expedition. |
| Artak Avetisyan | Engine Developer | With a masters in applied mathematics and informatics, Artak is also a programming teacher, and software and game developer with experience in system and network administration. Artak with NetVRk team helps prototype and engineer NetVRk’s custom features. |
| Nii Hideo | Developer | Nii is a smart contract and full stack develop. He is passionate about creating blockchain solutions for optimal usage and user convenience |
| Ryan Jun | Full Stack Developer | Ryan is an innovative, enthusiastic, goal-oriented professional with a sharp technical acumen and a passion for software engineering. With over 6 years of experience in full-stack development and blockchain development, Ryan is poised to leverage keen programming expertise within an Agile environment. |
| Jonathan Wernick | Chief Administrative Officer | Jonathan is a Chartered Accountant with 14 years experience. In that time has held senior finance positions across 6 distinct industry sectors and developed expertise in international accounting. Prior to that, Jonathan also qualified as a barrister, winning a scholarship from Gray’s Inn. Since then, Jonathan has gathered over 4 years of experience in blockchain business development and networking. With the NetVRk team, Jonathan now pursues strategic opportunities, partnerships, and new markets for the company’s expansion. |
| Daniel Kennedy | Chief Marketing Officer | Daniel Kennedy is a cryptocurrency marketing specialist, media copywriter, and author of the upcoming book, Social Media Handbook. Founder of the NFT Association and an active real estate entrepreneur. |
Roadmap
2016
- NetVRk prototyping
- Self-funding
- ompleted POC
2017
- Gathering talent (management, business, marketing)
- Established core concept
- Completed development on immersive VR locomotion
2018
- Expo participation
- China roadshow
- Seed round fundraising
- Developed core mainframe
2019 Q1-Q2
- Blockchain and non-blockchain based environment scaling
- Smart-contract deployment
- New website creation
- Establishment of investor relations
2019 Q3-Q4
- Partnership with HTC
- Completed detailed NetVRk prototype of content creation system.
2020
- Platform development
- Business development
- Fundraising
2021
- Early access release
- Business development and expansion
- Public token offering
2022
- Global NetVRk: migration of all VR/AR content
- Expansion into Asian and European markets.[12]
Netvrk
Commit Info
Edited By
Edited On
August 29, 2022
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REFERENCES
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