Netvrk

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Discover Netvrk's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Netvrk?

NetVRk (NETVR) is a cryptocurrency token that powers a multi-chain metaverse where users can create, own, and monetize virtual assets, including land, items, and experiences. It allows for various activities such as gaming, entertainment, e-commerce, education, and social enrichment within a blockchain-based ecosystem.

How is Netvrk used?

The Netvrk (NETVR) token is the native cryptocurrency of the NetVRk metaverse project. It is available on both the Ethereum and Polygon networks and is traded on several major centralized exchanges (CEXs) and decentralized exchanges (DEXs).

The token serves several purposes within the NetVRk ecosystem:

  • Purchasing Assets: Users can buy virtual land, vehicles, buildings, NFTs, and other items using $NETVR.
  • Advertising: $NETVR is used to purchase advertising space within the metaverse.
  • Minting NFTs: Users can create and mint their own digital assets as NFTs using the token as payment.
  • Token Staking: Holders of $NETVR can stake their tokens once the staking pool is opened, allowing them to participate in the network's governance and earn rewards.

Additionally, the token can be bridged between Ethereum and Polygon, enhancing accessibility and flexibility for token holders.

How do I store Netvrk?

To store NetVRk (NETVR) tokens, you can follow these steps:

  1. Import Tokens to Your Wallet:

    • For Ethereum: Use the token address 0x52498F8d9791736f1D6398fE95ba3BD868114d10.
    • For Polygon: Use the token address 0x3558887f15b5b0074dC4167761DE14A6DFcb676e.
  2. Add Custom Token:

    • In your wallet, navigate to the "Import tokens" or "Add custom token" section.
    • Enter the token address and other required details.
  3. Claim Tokens:

  • If you previously held the legacy $NTVRK tokens, you can claim the new $NETVR tokens by connecting your wallet to the claim site.
  1. Secure Your Wallet:
    • Ensure your wallet is secure by using strong passwords, enabling two-factor authentication, and keeping your recovery phrases safe.

By following these steps, you can safely store your NetVRk (NETVR) tokens in your wallet.

How to buy Netvrk?

To buy Netvrk (NETVR) tokens, you can follow these steps:

  1. Choose an Exchange: Find a reliable centralized exchange where Netvrk is listed. You can refer to CoinMarketCap's Markets section to find the list of exchanges that support Netvrk.

  2. Set Up a Wallet: Download and set up a crypto wallet, such as Trust Wallet, that supports the Ethereum network. Make sure to keep your seed phrase safe and note your wallet address.

  3. Buy ETH: Purchase Ethereum (ETH) as your base currency. You can do this on an exchange like Binance. If you are new to Binance, you can refer to their guide on registering and buying your first cryptocurrency.

  1. Transfer ETH to Your Wallet: Withdraw the ETH from your exchange account to your crypto wallet. Ensure you set the network to Ethereum and provide your wallet address correctly.

  2. Select a Decentralized Exchange (DEX): Choose a DEX that supports your wallet. For example, if you use Trust Wallet, you can use 1inch.

  3. Connect Your Wallet: Connect your wallet to the DEX using your wallet address.

  1. Trade ETH for Netvrk: Select ETH as the payment and Netvrk as the coin you want to acquire. If Netvrk does not appear, find its smart contract address on Etherscan and paste it into the DEX.

  2. Complete the Swap: Once you have set up the trade, click the Swap button to complete the transaction.

Remember to be cautious of scams and ensure you have the official smart contract address. Additionally, consider your investment experience, financial situation, and risk tolerance before making any investment decisions.

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History of Netvrk

NetVRk (NETVR) is a cryptocurrency project focused on creating an immersive metaverse where users can engage in various activities such as gaming, shopping, socializing, and creating virtual assets. The project aims to empower users to monetize their content and experiences within the metaverse.

NetVRk has undergone significant developments since its inception. The project has conducted several fundraising rounds, including IDOs (Initial DEX Offerings) and private sales, raising a total of $2.43 million. These fundraising efforts have helped the project grow and expand its vision.

In terms of tokenomics, NetVRk has a token utility system that allows users to buy assets, generate NFTs, stake tokens, and purchase virtual real estate within the metaverse. The token is designed to be the currency standard for the ecosystem, facilitating transactions and interactions within the virtual world.

The project has also established partnerships with various blockchain platforms, including Ethereum, Polygon, and Solana, which will likely be used to build the metaverse infrastructure. Additionally, NetVRk has a strong focus on community engagement, with a growing team of industry professionals committed to transparency, integrity, and respectful communication.

In 2024, NetVRk launched a token swap to $NETVR, marking a significant milestone in the project's evolution. This swap demonstrates the project's commitment to continuous improvement and adaptation to the rapidly changing crypto landscape.

Overall, NetVRk's history reflects its dedication to creating a comprehensive and immersive metaverse experience, backed by a robust token economy and a strong community.

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How Netvrk works

Netvrk (NETVR) is a cryptocurrency token that operates on the Ethereum blockchain. It is part of the NetVRk project, which aims to create a unique virtual reality (VR) ecosystem where users can create, explore, and interact with VR worlds without requiring explicit VR or 3D software knowledge. Here is a detailed overview of how Netvrk works:

Token Overview
  • Token Name: Netvrk (NETVR)
  • Blockchain: Ethereum
  • Token Type: ERC-20
  • Token Supply: 100,000,000
Key Features
  1. Creation Engine: NetVRk provides a user-friendly interface called the Creation Engine, which allows users to create and profit from their own virtual experiences, assets, and more. This engine is designed to be accessible to users without prior VR or 3D software experience.

  2. NFT Marketplace: The platform supports a marketplace where users can buy, sell, and trade assets such as buildings, cars, and homes using the NETVR token. These assets are represented as NFTs (Non-Fungible Tokens) following the ERC-721 standard, ensuring proof of ownership.

  3. Multi-Purpose Sandbox: The platform includes a sandbox environment that comes pre-loaded with tools and functionalities to help users create new VR worlds easily.

  1. Token Utility: The NETVR token is used for various transactions within the NetVRk ecosystem. It can be used to purchase assets, conduct land sales, buy advertising space, and generate NFTs. Additionally, users can stake their NETVR tokens to earn a fixed percentage of profits based on the number of tokens staked.

  2. In-Game Currencies: There are two in-game currencies: Energy and NetVRk Coin. Energy is gained through in-game actions, while NetVRk Coin can be obtained by exchanging NETVR tokens or fiat money. Some transactions in the game require Energy, while others require NetVRk Coin.

  3. Staking and Rewards: Users can stake their NETVR tokens to earn rewards. The staking process involves approving a specific smart contract, which grants the contract the rights to move the staked NFTs. The rewards are distributed based on the fees collected in ETH or NETVR.

How to Buy and Use Netvrk

To buy Netvrk, users can follow these steps:

  1. Get a Crypto Wallet: Download a crypto wallet like Trust Wallet, which supports the Ethereum network.
  2. Buy Ethereum (ETH): Purchase ETH on a centralized exchange like Binance.
  3. Transfer ETH to Wallet: Transfer the purchased ETH to the Trust Wallet.
  4. Choose a Decentralized Exchange (DEX): Select a DEX that supports the Ethereum network, such as 1inch.
  5. Connect Wallet to DEX: Connect the Trust Wallet to the chosen DEX.
  6. Trade ETH for NETVR: Trade ETH for NETVR tokens on the DEX.
  7. Use NETVR Tokens: Use the acquired NETVR tokens to purchase assets, conduct transactions, or stake them within the NetVRk ecosystem.
Security and Verification

To ensure the authenticity of NFTs, users should only use official links and verify the NFT contract address. Additionally, when staking NFTs, users should be aware that the staking contract will have the rights to move the staked NFTs, but this access can be revoked later.

Partnerships and Growth

NetVRk has attracted several partnerships due to its unique solution to problems in the AR/VR market. The platform continues to grow, offering new opportunities for users to engage with the metaverse and utilize the NETVR token.

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Netvrk's strengths

The token NetVRk (NETVR) has several strengths that make it an attractive investment opportunity:

  1. Metaverse Platform: NetVRk is built on a blockchain-based social virtual world, allowing users to create, explore, and monetize their creations within an immersive metaverse. This platform offers a unique and visually attractive world that can be customized to meet diverse user needs, whether personal or professional.

  2. Token Utilization: The $NETVR token serves multiple purposes within the NetVRk ecosystem. It is used for in-world transactions, such as buying and selling virtual land, assets, and services. Additionally, it provides access to exclusive features, allows participation in governance through the DAO, and can be staked for rewards and passive income.

  3. Technology Stack: NetVRk utilizes the Ethereum blockchain for its core functionalities, ensuring secure and transparent land ownership and transactions. It also incorporates layer 2 solutions for scalability and smoother user experience, with plans for integration with virtual reality headsets in the future.

  1. Decentralized Governance: The NetVRk DAO (Decentralized Autonomous Organization) allows users to participate in shaping the future of the metaverse through voting on key decisions. This decentralized governance model ensures that the platform remains community-driven and responsive to user needs.

  2. Monetization Opportunities: The platform offers various ways for users to earn rewards and generate income, including through activities, content creation, and monetizing their environments. This creates a strong incentive for users to engage actively within the metaverse.

  3. Accessibility and Flexibility: The token has been bridged from Ethereum to Polygon, enhancing accessibility and flexibility for token holders. This allows users to experience the metaverse on different blockchain networks, increasing the overall usability of the platform.

  1. Industry Professionals: The team behind NetVRk consists of industry professionals with experience in electronic entertainment, committed to values of transparency, integrity, and respectful communication. This ensures that the project is well-managed and has a clear vision for its future development.

These strengths position NetVRk as a promising project in the metaverse space, offering a unique blend of creativity, monetization, and community engagement.

Netvrk's risks

Netvrk (NETVRK) is a cryptocurrency project that operates within a virtual reality world. The $NETVR token serves as the currency standard and can be used to purchase various assets, including AI companion enhancements, interactive buildings, gameplay assets, avatars, vehicles, and more. Users can also buy and sell virtual real estate, retain virtual commodities, and generate recurring income within the metaverse.

Netvrk's financial risks are primarily related to its high risk rating. According to InvestorsObserver, Netvrk receives a high risk score due to the potential for price manipulation. The proprietary scoring system analyzes the amount of money required to shift the token's price over a 24-hour period, as well as recent changes in volume and market capitalization. This high risk rating indicates that the token is more susceptible to price fluctuations and market volatility.

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Did Netvrk raise funds?

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Netvrk’s team

  • NetVRk Team Members:
    • Linus Chee: Co-founder of NetVRk.
    • Johan Dahlstrom: Employee at NetVRk Official.
    • Chris Parry: Employee at NetVRk Official.
    • Matt Eckenrodt: Employee at NetVRk Official.
    • Mike Katseli: Involved in the new $NETVR token and its future developments.

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