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What Is Polkacity (POLC)?

Polkacity is an innovative marketplace for non-fungible tokens (NFTs) that aims to revolutionize the ownership of virtual assets. The project is focused on creating the world's first 3D and augmented reality NFT platform on multiple blockchains. Users have the opportunity to purchase and own virtual taxis, gas stations, and services and earn interest on these assets. By holding the NFTs representing these assets, users receive weekly payments as the virtual city, which combines different decentralized finance (DeFi) elements, continues to grow. Polkacity constantly expands the range of available assets, including land and infrastructure.

Polkacity launched its mobile app and desktop version of the virtual city in early 2021. In the third quarter of 2021, the project introduced its marketplace, where citizens can trade assets. In the future, the project plans to expand to different blockchains and offer additional NFTs, such as neighboring cities or even continents.

Who Are the Founders of Polkacity?

The team behind Polkacity is led by Carmelo Milian, the project's lead software developer. Prior to working on Polkacity, Milian gained experience at Microsoft and co-founded OneCloud, a cloud computing company. The team also includes Fatih Atali, a high physics engineer and marketing advisor with over five years of cryptocurrency experience. Atali is also a co-founder of Blockchain Game Factory. Additionally, the team is complemented by Murad Aliyev, the technology manager with extensive experience in technology infrastructure projects, and Manuel Leal, an experienced web developer.

Polkacity has also formed several interesting partnerships, including a collaboration with former NBA star Baron Davis, who serves as an ambassador for the project. The project has also sponsored various blockchain-related events in Miami.

What Sets Polkacity Apart?

Polkacity aims to create a virtual city that closely mirrors the real world, as evidenced by the NFTs available for purchase. Currently, players can acquire various types of taxis, ranging from compacts to limousines. They can also purchase power stations, both petrol and electric, as well as car-related service stations like car washes, rentals, and repairs. Other available assets include hotels, restaurants, shopping centers, and even leisure establishments like discos.

Each NFT carries a different price, with the compact taxis priced at 1,500 POLC (1,000 available) and the shopping centers priced at 105,000 POLC (50 available). Owners of these assets receive weekly payments in POLC tokens, as well as a share of the asset's earnings. For example, the owner of a compact taxi earns 60 POLC per week, plus 16% of the taxi's monthly earnings. On the other hand, owning a shopping center brings in 13,125 POLC weekly and 50% of the center's monthly earnings. Players can benefit from the virtual economy of the game in this way.

Polkacity also aims to combine various hot-topic elements, such as NFTs and decentralized finance, by creating a 3D and augmented reality platform. Players have the option to enjoy their virtual resources using VR technology.

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How Many Polkacity (POLC) Coins Are in Circulation?

POLC serves as the native utility token within the Polkacity metaverse. It is used for purchasing goods and services. The total supply of POLC is 250 million, which is distributed as follows:

• Platform rewards: 200 million POLC, with 25% released on token generation event (TGE) and 25 million POLC released every quarter;
• Liquidity and exchange listings: 25 million POLC;
• Team: 10 million POLC, with a six-month lock-up period and a monthly release of 5%;
• Presale: 7.5 million POLC, with 500 ETH raised at a price of 15,000 POLC per ETH;
• Private sale: 2.5 million POLC, with 125 ETH raised at a price of 20,000 POLC per ETH;
• Marketing: 5 million POLC, with 20% released on TGE and a monthly release of 5%.

How Is the Polkacity Network Secured?

POLC is an ERC-20 token based on the Ethereum blockchain. Ethereum is one of the most popular blockchains and is widely used by decentralized applications and exchanges. It operates on a proof-of-work consensus mechanism, which requires miners to mine new Ether and a network of decentralized nodes to validate transactions and secure the blockchain.

Currently, Polkacity is deployed on the Ethereum and Binance Smart Chain (BSC) networks. However, the project plans to expand to other blockchains, including Polkadot, in 2022.

Where Can You Purchase Polkacity (POLC)?

POLC can be purchased on various exchanges, including KuCoin, Gate.io, Bitget, ZT, and BKEX.