Netvrk — Step into the future of the Metaverse

8 min readOct 31, 2021

A virtual-reality space in which users can interact with a computer-generated environment and other users. This is the definition of Metaverse. Currently, Metaverse is the buzz topic in the (crypto) world, in case you missed Facebook’s — I mean Meta’s — latest public move into the ‘Metaverse space’. Excitement is also building around blockchain gaming as more and more quality projects are emerging on the crypto scene. In case you are yet to discover or wrap your head around what ‘a Metaverse’ is, check out Ready Player One to get an idea. I you have and are still not convinced a, or multiple, Metaverse(s) will be part of our lives in the future, stop reading now.

This is where Netvrk wants to lead the charge and in my personal opinion, they stand a very good chance to be at the forefront of development. It is undoubtedly one of the most anticipated Metaverse projects of the year.

Netvrk aims to build a blockchain-based metaverse on the Unreal Engine which makes it easy for game developers to build on top of it, which is a huge component in scaling such a project. It will also provide users the whole ecosystem needed to build and monetize their creations. To be completely honest, it was after watching this video I was really able to envision the possibilities of Netvrk. And I trust they are not stopping development here. Check it out and envision the future.

Netvrk will allow all users to sell and trade content on its VR platform. Gamers can upload their original content and add it to the Netvrk decentralized marketplace. The content they own the copyright for, their virtual real estate/means of transport in Netvrk universe, and basically everything they own is stored in the smart-contract form associated with their Netvrk blockchain account. Every deal in Netvrk marketplace is done through smart-contracts.

All platform assets are represented with the non-fungible ERC721 token standard that contains owner information in its metadata and provides proof of ownership.

$NTVRK token utility

Netvrk token ($NTVRK) is a native token on Netvrk platform. Main $NTVRK token utilities:

Buy LAND with $NTVRK:
With NTVRK you can purchase land in the Netvrk metaverse, whether in major real estate hotspots, or right in front of the city.

Buy Assets with $NTVRK:
You can use $NTVRK token to buy assets in the virtual world. This include buildings, vehicles, houses and many, many more.

Buy Advertising Space with $NTVRK:
You can use $NTVRK tokens to buy advertising space, which can generate you a passive income. It can also be onsold to other parties.

Generate NFT:
The token can also be used to generate Non-Fungible Tokens (NFTs) which can be sold on the marketplace.

Staking $NTVRK:
You can earn a passive income by simply staking your NTVRK token. Stakers get a fixed percentage of profits based on staking their tokens in the network.

Challenges

Entry issues:
It is currently required to learn new skills and adjust the old ones to create VR content.

Also, it is very costly to deploy VR applications.

Lack of Monetization Options:
Currently, there is a lack of options to monetize activities in VR.

Lack of Quality Content:
There is currently a limited amount of quality content in the VR environment.

Solution

To solve the Entry issues, Netvrk created the VWGen editor that will give a chance for everyone to build on the VR platform. It will help Netvrk users to deploy VR applications in a fast and secure way.

Also, those who don’t have coding or design skills will have a chance to deploy VR applications.

Lack of monetization options will be solved by providing its users with tools to create visually attractive worlds which can be virtually explored, populated, and even reshaped to match everyone’s needs.

To solve the lack of quality content, Netvrk will produce high-quality content such as cities and other complex environments as well as powerful creation tools for their users.

Netvrk plan to review all user-generated content and only then integrate it into the database. The review process will be managed by the system’s algorithm and supervised by a dedicated staff member. Also, there will be a rating and review system that will allow other users to share their feedback.

Land
Virtual land is meant to be the centrepiece of the Netvrk ecosystem. It will be represented as a non-fungible token (NFT) ERC-721, with each plot of land being unique and representing a specific parcel on the Netvrk Map. Virtual land can be bought, held, or sold at anytime by the user. The number of land s is limited, what makes it potentially highly valuable and desirable asset. There are total of 15,000 parcels, of which 5,450 were sold during the pre-sale phase. The NFT land sales took place over several launchpads like Ferrum, Poolz & Trustpad to name just a few.

Land will be limited to a set number of parcels consisting of Standard, Medium, Large, Giant, and Epic. As an owner of virtual land in Netvrk, you have full rights to your land. As the Netvrk metaverse develops, virtual land will serve as a base for users, to create, build, and deploy everything from storefronts for e-commerce, to self made games, as well as interactive and educational experiences.Land ownership will also be used as part of the governance model for Netvrk, giving a voice and governance rights to stakeholders.

Virtual Land Usecases

Users can buy virtual land and use it for a variety of purposes, including:

Personal space — Spending time by themselves or hosting their friends. If they wish, they can also design original, free, or paid content from the marketplace. This is greatly underestimated in my opinion. Hosting people in personal spaces will be big for communities, especially if you think of how many people are using meeting services at the moment, taking Discord voice chat and Twitter spaces as an example. Not to mention live streaming services…

Commercial use — Advertising — To earn tokens on their activity, users can integrate advertisements in commercial and personal spaces. Netvrk will offer its users several interactive virtual billboards per certain size of land. Tie this in with other services where users will visit the land, there is most definitely a market for that.

Content — Users will be able to have stores and offer goods to Netvrk users from their land.

Trading Your Virtual Real Estate — Users will be able to sell their virtual real estate. They can choose if they want to give full or partial rights of ownership to the buyer. Also, they will be able to lease their land for a certain amount of time and earn a profit. Imagine owning a plot of land amidst a couple of the most popular regions or most visited lands. Would you think that would be worth something if these lands would like to expand?

Over 40 well respected partners committed to own their virtual locations within Netvrk: Ferrum, Polygon, Elrond, Certik or Dex, just to name a few.

Team

Daniel Kennedy is a partner and CEO at Netvrk. Dan is an expert marketer and experienced in project management. His experience in founding Blockchains PR and general expertise in the cryptosphere will come to good use.

Michael Katseli is a Founder and CTO at Netvrk. Also, he founded XMOD INDUSTRIES (A virtual reality development company). He co-founded HUMAN G@A Ltd (a studio for mobile game development). Michael finished Gnomon School of Visual Effects.

Linus Chee is a Co-founder and COO at Netvrk. Also, he is a co-founder at XMod, Inc. Linus also finished the Gnomon School of Visual Effects.

Jay Shindell is a Chief Creative Officer at Netvrk. Jay is an Instructor at Gnomon School of Visual Effects (Games + Animation). Also, he co-produced, directed, and edited the animated feature film, Bunyan & Babe. He co-produced the feature film Jubilee Girl.

Ian Friend is a co-founder and COO at Ferrum Network. He worked as a strategic advisor for a lot of projects such as Revolve Games, Flourishing Capital, Rocket Vault, Playcent, Project Inverse, Poolz.

Community

Telegram: 22k members
Twitter: 57.2K followers
Facebook: 1k followers

Tokenomics

Raised amount of $2,5M is very reasonable considering the fact that the project is viewed as one of the pioneers of the metaverse, with the whole concept going back to 2016. What may be important for the future investors, is that just 12,5% of the tokens belong to the team with an 8 months cliff and 28 months vesting, which is healthy for the whole ecosystem. Any concerns in regards to run rate with this amount of funding and the giant scope of the project, luckily Netvrk is hosting NFT sales which are very successful.

Ticker: $NTVRK
Platform: Ethereum
Token standard: ERC20
Total supply: 100,000,000 NTVRK

Token allocation

Team — 12.5%
Operations — 5%
Marketing — 6%
Advisors — 4%
Pre-Seed Sale — 6%
Seed Sale — 7%
Private 1–6.5%
Private 2–7%
Public Sale — 3 %
Staking/yearly incentive Rewards — 20%
Community Enrichment Wallet — 20%
Exchange Liquidity- 3%

Investors and Blockchains

Check out the Netvrk Website to get a grasp on the amount of partners are signed. There are so many it didn’t fit properly on a screenshot for this article…

Roadmap

Most of the milestones from the roadmap have been achieved. From completing POC and self-funding in 2016, through blockchain environment scaling, smart-contract deployment in 2019, to platform development, public token offering & business development in 2021. The next stop on the roadmap is migration of VR/AR content and expansion into Asian & European markets in 2022.

Conclusion

Netvrk has an innovative idea to build a blockchain-based virtual reality platform. They plan to tackle all the problems that current virtual reality platforms are facing — entry issues, lack of monetization options & lack of content. As one of the metaverse pioneers they undoubtedly have the advantage in the space, building their product since 2016.

Netvrk has a solid team made of experienced advisors and developers. But we also need to keep in mind, that this is not the only reason why the project gets fully adopted. The other crucial thing is a strong and dedicated community which spreads the awareness and gives good vibes. Netvrk has it all, thus it is highly probable that it will excel in the more and more competitive crypto sector.

Also, mass adoption comes with the listings on the most reputable CEXes, what have not yet been achieved by the Netvrk, as it has been listed only on Hotbit and Kucoin. However, looking at the consistency of the team, Netvrk have high chance to get listed on tier 1 CEXes in the upcoming months.