What is Polkacity (POLC)?

Polkacity (POLC) Token has emerged as a pioneering digital asset, reshaping the concept of virtual ownership and interaction within the metaverse. It harnesses the power of blockchain and non-fungible tokens (NFTs) on the Polkadot network to facilitate the acquisition, trade, and stewardship of diverse digital assets within an immersive virtual environment.

Polkacity, an NFT marketplace, seeks to transform virtual asset ownership by creating the inaugural 3D and AR NFT platform accessible across multiple blockchains. Users can procure and possess virtual taxis, gas stations, and services, earning interest on these assets.

By retaining the NFTs representing these assets, users receive weekly payments as the amalgamation of different DeFi elements within the virtual city expands. Continuously broadening its offerings, Polkacity now includes land and infrastructure among its available assets.

Introduced in early 2021, Polkacity has unveiled both a mobile app and a desktop version of its virtual city. In Q3 2021, the platform launched its marketplace, enabling citizens to trade assets. Future plans involve expanding to diverse blockchains and introducing additional NFTs such as neighboring cities or even continents.

Who are the founders of Polkacity?

The leadership of Polkacity comprises Carmelo Milian, the project’s lead software developer, previously associated with Microsoft and co-founder of OneCloud, a cloud computing company. Fatih Atali, a physics engineer and marketing advisor with over five years in cryptocurrency and a co-founder of Blockchain Game Factory, augments the team.

The lineup also includes Murad Aliyev, a technology manager with extensive experience in technology infrastructure projects, and Manuel Leal, an adept web developer. Polkacity has forged significant partnerships, notably collaborating with former NBA star Baron Davis as an ambassador and sponsoring blockchain-related events in Miami.

What sets Polkacity apart?

Polkacity aspires to emulate a real city virtually, mirrored in the purchasable NFTs. Presently available assets encompass various items such as

• Diverse taxi types, from compacts to limousines;

• Power stations (petrol or electric);

• Car-related service stations like car washes, rentals, and repairs;

• Hospitality establishments including hotels, restaurants, and shopping centers;

• Entertainment spots like discos.

Each NFT holds a distinct price, ranging from 1,500 POLC for a compact taxi (with 1,000 available) to 105,000 POLC for a shopping center (with 50 available). Participants recover investments through weekly network rewards and a portion of the asset's earnings.

For example, owning a compact taxi yields 60 POLC weekly plus 16% of the taxi’s monthly earnings, while owning a shopping center provides 13,125 POLC weekly and 50% of the center’s monthly earnings. This economic model allows players to benefit from the virtual game's economy.

Furthermore, Polkacity aims to blend several trending elements like NFTs and decentralized finance by crafting a 3D and augmented reality platform, allowing users to experience their virtual resources using VR technology.

How Does Polkacity Ensure Network Security?

POLC, an ERC-20 token on Ethereum, adheres to the widely accepted ERC-721 standard for non-fungible tokens for all Polkacity NFTs. Ethereum, a popular blockchain, employs a proof-of-work consensus mechanism, requiring miners to validate new Ether. A network of decentralized nodes verifies transactions, bolstering the security of the Ethereum blockchain.

Presently operating on Ethereum and BSC, Polkacity plans to expand to other blockchains like Polkadot in 2022.

To read more information about Polkacity, visit Suncrypto Price Explorer