What Is Polkacity (POLC)?
Polkacity is an NFT marketplace that aims to “revolutionize the ownership of virtual assets” by building the world’s first 3D and AR NFT platform that will be on multiple blockchains. Users can purchase and own virtual taxis, gas stations, and services and earn interest on their assets. By holding the NFTs representing them, users receive weekly payments as the virtual city combining different DeFi elements grows. Polkacity is constantly expanding the available assets, now also including land and infrastructure.
Launched at the beginning of 2021, Polkacity has published a mobile app and a desktop version of its virtual city. In Q3 2021, Polkacity launched its marketplace, where citizens can trade assets. In the future, the project foresees expansion to different blockchains and the addition of additional NFTs like neighboring cities or even continents.
Who Are the Founders of Polkacity?
Polkacity is led by Carmelo Milian, the project’s lead software developer who previously worked at Microsoft and co-founded OneCloud, a cloud computing company. Fatih Atali is the team’s marketing advisor, a high physics engineer and co-founder of Blockchain Game Factory with over five years of experience in cryptocurrency. The team is complemented by Murad Aliyev, the technology manager with over five years of experience in technology infrastructure projects, and Manuel Leal, an experienced web developer.
In addition, Polkacity has sealed several interesting partnerships, such as teaming up with former NBA star Baron Davis as an ambassador and sponsoring blockchain-related events in Miami.
What Makes Polkacity Unique?
Polkacity aspires to be the virtual equivalent of an actual city, reflected in the NFTs available for purchase. Currently, players can buy:
- Different types of taxis, ranging from compacts to limousines’
- Power stations (petrol or electric);
- Car-related service stations like car washes, rentals and repairs;
- Hotels, restaurants, and shopping centers;
- Leisure-related establishments like discos.
Each NFT fetches a different price, from 1,500 POLC for a compact taxi (1,000 available) to 105,000 POLC for a shopping center (50 available). Players recoup the money through weekly payments of network rewards plus an additional share of earnings from the asset. For instance, an owner of a compact taxi will receive 60 POLC per week plus 16% of the taxi’s earnings per month, while owning a shopping center returns 13,125 POLC weekly and 50% of the center’s monthly earnings. In this fashion, players can benefit from the game’s virtual economy.
Moreover, Polkacity aspires to combine several hot-topic elements like NFTs and decentralized finance by creating a 3D and augmented reality platform. Players can enjoy their virtual resources with VR technology.
Related Pages:
Check out Polkadot (DOT) — the blockchain that inspired Polkacity.
Check out Polkastarter (POLS) — a Polkadot-based launchpad.
Read our deep dive into MetaVPad.
Get the latest crypto news and latest trading insights with CoinMarketCap Alexandria.
How Many Polkacity (POLC) Coins Are There in Circulation?
POLC is the game’s native utility token used for purchasing goods and services in the Polkacity metaverse. The total supply of POLC is 250 million with the following distribution:
- Platform rewards: 200 million POLC, 25% released on TGE, 25 million POLC every quarter;
- Liquidity and exchange listings: 25 million POLC;
- Team: 10 million POLC, six months locked, 5% monthly release;
- Presale: 7.5 million POLC, 500 ETH raised at a price of 15,000 POLC per ETH;
- Private sale: 2.5 million POLC, 125 ETH raised at a price of 20,000 POLC per ETH;
- Marketing: 5 million POLC, 20% released on TGE, 5% released monthly.
How Is the Polkacity Network Secured?
POLC is an ERC-20 token on Ethereum; a token standard most new tokens follow when publishing on the Ethereum blockchain. All Polkacity NFTs follow the proven ERC-721 standard for non-fungible tokens. Ethereum is one of the most popular blockchains and the go-to solution for many decentralized applications and exchanges to launch on. It is secured by a proof-of-work consensus mechanism that requires miners to mine new Ether. A set of decentralized nodes validates transactions and secures the Ethereum blockchain.
Polkacity is currently deployed on Ethereum and BSC but plans to expand to other blockchains like Polkadot in 2022.
Where Can You Buy Polkacity (POLC)?
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