What is Polkacity?
Polkacity (POLC) is a groundbreaking NFT marketplace that aims to redefine the concept of virtual asset ownership by introducing the world's first 3D and augmented reality (AR) platform operating across multiple blockchains. This innovative platform enables users to purchase and possess virtual taxis, gas stations, and various services, allowing them to earn interest on their assets. By holding the NFTs representing these virtual properties, users receive weekly payments as the virtual city, enriched with different decentralized finance (DeFi) elements, flourishes. Polkacity is committed to expanding its asset offerings and recently introduced land and infrastructure to its growing metaverse.
Launched in early 2021, Polkacity has already made significant strides by releasing a mobile app and desktop version of its virtual city. In the third quarter of 2021, the project unveiled its marketplace, enabling citizens to trade their digital assets. Looking ahead, Polkacity envisions expanding its presence to various blockchains and introducing additional NFTs, such as neighboring cities or even entire continents, offering a truly immersive and interconnected metaverse experience.
At the helm of Polkacity is Carmelo Milian, the project's lead software developer, bringing his expertise from previous roles at Microsoft and as the co-founder of OneCloud, a prominent cloud computing company. Fatih Atali serves as the team's marketing advisor, leveraging his extensive experience in cryptocurrency and co-founding Blockchain Game Factory. With over five years of involvement in technology infrastructure projects, Murad Aliyev contributes as the technology manager, while Manuel Leal, an experienced web developer, further complements the team.
Notably, Polkacity has formed strategic partnerships to enhance its ecosystem. The project has joined forces with former NBA star Baron Davis, who serves as an ambassador, and has actively sponsored blockchain-related events in the vibrant city of Miami.
Polkacity distinguishes itself by offering users the opportunity to explore a virtual city brimming with real-world elements, as reflected in the NFTs available for purchase. Currently, players can acquire various assets, including:
- Different types of taxis, ranging from compact cars to luxurious limousines
- Power stations, be it traditional petrol or electric
- Car-related service stations such as car washes, rentals, and repair shops
- Hospitality establishments like hotels, restaurants, and shopping centers
- Entertainment venues, including vibrant discotheques
Each NFT carries a distinct price, with compact taxis available for 1,500 POLC (1,000 units) and shopping centers priced at 105,000 POLC (50 units). Players can recuperate their investments through weekly payments consisting of network rewards, as well as a share of the earnings generated by their assets. For instance, the owner of a compact taxi receives 60 POLC per week, in addition to 16% of the taxi's monthly earnings. Similarly, owning a shopping center yields 13,125 POLC weekly, along with 50% of the center's monthly earnings. This innovative mechanism allows players to participate in the virtual economy and benefit from their contributions to the game.
Furthermore, Polkacity aims to merge trending elements like NFTs and decentralized finance by establishing a cutting-edge 3D and AR platform. With the integration of virtual reality technology, players can fully immerse themselves in the virtual realm and interact with their digital assets.
At the core of the Polkacity ecosystem lies its native utility token, POLC, which facilitates transactions and serves as the primary means of acquiring goods and services within the metaverse. The total supply of POLC is capped at 250 million tokens, distributed as follows:
- Platform rewards: 200 million POLC, with 25% released upon the token generation event (TGE) and an additional 25 million POLC distributed quarterly
- Liquidity and exchange listings: 25 million POLC
- Team allocation: 10 million POLC, subject to a six-month lockup period and monthly release of 5%
- Presale: 7.5 million POLC, raising 500 ETH at a rate of 15,000 POLC per ETH
- Private sale: 2.5 million POLC, securing 125 ETH at a rate of 20,000 POLC per ETH
- Marketing: 5 million POLC, with 20% released during the TGE and an additional 5% unlocked on a monthly basis
POLC operates as an ERC-20 token on the Ethereum blockchain, adhering to the widely adopted token standard for publishing tokens on Ethereum. All Polkacity NFTs comply with the established ERC-721 standard for non-fungible tokens, ensuring their uniqueness and individuality. Ethereum, renowned for its robustness and popularity, serves as the foundation for the Polkacity platform and is secured by a proof-of-work consensus mechanism. This mechanism necessitates miners to validate transactions and mine new Ether, while a decentralized network of nodes ensures the security and integrity of the Ethereum blockchain.
While currently deployed on Ethereum and Binance Smart Chain (BSC), Polkacity plans to expand its operations to other prominent blockchains like Polkadot in 2022, enabling users to explore the metaverse on diverse and interconnected networks.
In conclusion, Polkacity (POLC) is poised to revolutionize the concept of virtual asset ownership by creating an immersive metaverse powered by NFTs and decentralized finance elements. Through the integration of a 3D and augmented reality platform, players can indulge in a virtual cityscape, own and trade various digital assets, and earn rewards based on their contributions to the thriving ecosystem. With a visionary team and strategic partnerships, Polkacity aims to shape the future of virtual experiences, captivating the imagination of individuals eager to explore the possibilities of the metaverse.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
Stay ahead of the competition by accessing high-quality data, advanced tools, and expert research.Try for Free