TL:DR
In this blog, we go over the 2024 plan as we see it. We discuss more about the token swap and share some updates to the work on the Alpha release. The AI group has more details about why their work outperforms our competitors, and the blockchain team covers work done in our onboarding. Finally, the community section covers important DAO updates and staking terms. Let’s get to reading!
Studio Update
In January, we will be meeting with significant players in the marketing and PR realms of the crypto space who want to be involved with NetVRk. At present, our highest short-term priorities are attracting new attention to the project, launching the new token, Alpha, and implementing a comprehensive marketing strategy to build momentum.
Generating revenue, securing strategic partners, and maintaining constant funding for such a massive project are always ongoing efforts and are next on the agenda. The initiatives related to AI and NetVRk commerce are currently the primary focus of discussions with VCs and major investors. They understand the original concept of NetVRk as the ultimate goal, but they are particularly interested in investing in technology that is more easily understandable to be novel and ahead of the competition, with the potential to generate revenue sooner rather than later.
Having very well connected and experienced marketing teams expressing the level of interest that they are is having an effect on all of the plans for the coming year. These teams are used to dealing with large, recognizable clients such as Forbes and Coindesk. We are expecting that the project will gain great benefits as long as we work to coordinate with them more thoroughly for things like this Devlog, our social media announcements, teasers drops, and even the Alpha releases. To that end, while we are finalizing the first Alpha release we are talking to these firms to be sure that the release is seen by the largest number of investors and players to support our long-term goals.
Development Update
Not surprisingly, many of the cycles for this past month have been consumed with the token swap. The blockchain team, development team, community team, and leadership group have all had roles to play in the concepting, design, and execution of the swap. Despite the challenges brought forward, we are very happy with both the response internally and from our partner, and happy with the plan being executed. The update to an upgradeable smart contract unlocks potentials that were not available in the first token. Blockchain technology and smart contracts have certainly advanced since our initial offering, as can be expected, and this event gave us the opportunity to take advantage. The community can expect to see more announcements and updates to our white paper in the token area in the coming weeks.
Even while the token swap absorbed those teams, the art and design group was able to spend more time in December preparing the environment for the upcoming Alpha launch. This work again was targeted to improve performance even past where we had brought it, utilizing the Nanite tech available in Unreal 5. Below are some of the screenshot examples rendered from the engine, with lighting and detail that players can expect in the final release.
AI Update
The AI work has centered around making both natural and entertaining characters to compliment players in the first Alpha. One hurdle that other AI has that we are overcoming is the delay in conversational responses from these characters. Beyond overcoming the pauses, we spent the month moving from streaming compressed or encoded MP3 audio segments to streaming PCM segments. We were finding MP3 lossy, so the decoding would degrade the audio quality. Because our designs are going to require that the audio is recognizable, even ‘real world’ recognizable, that degradation was unacceptable. PCM is lossless, so after the encoding and decoding, it always sounds the same. The PCM is a much higher qua lity audio, and in our testing, this system is a vast improvement over the competitors we have come across.
The AI package that is being prepared is earmarked for the larger Creation Engine tool suite. It is the expectation that the ability to populate spaces with curated, specialized AI NPCs will be a huge benefit to the creators who are building experiences in their land parcels. Creators can consider programming an AI store manager to handle the sales in their storefront, or creating a host for your virtual museum, or AI DJ for your club to keep the crowd hopping. And, for those creators looking for a more individualized experience, program your AI companion to compliment the way you game and live.
Blockchain Team Update
As was said in the Development section, the blockchain team was obviously a pivotal group involved in our reaction to the security event. This included the design and rollout plan of the new smart contract as well as the coordination of the ongoing external audit of this new contract.
Prior to the event, the team had a focus on the Mine Runner experience that remains a key component to the NetVRk universe and economy system. We had identified areas for improvements on the onramping, so the team worked on refining the wallet connection for an improved user experience and wide adoption.
Additionally, the team is excited to kick off the distribution of reserve rewards for Q1 2024, demonstrating NetVRks commitment to rewarding our community’s continued support. Stay tuned for more updates as we work towards providing a secure, innovative, and rewarding experience.
Community Update
NetVRk DAO
In our latest DAO proposal, we asked for your guidance on which blockchain(s) you wanted to see NetVRk being on, and your votes have spoken! The top 3 choices by the DAO:
- Avalanche (AVAX)
- Ethereum
- Polygon
What’s next? Get ready to have a say in what the unclaimed rewards from 2023 will be spent on, as well as discuss whether or not we should implement a transaction fee on DEX swaps.
Staking Pools for the New Token
We’ve heard your enthusiastic requests for staking pools loud and clear, and we’re thrilled to announce that we’re in the final stages of preparing them for you! While we can’t reveal all details just yet we can share that we’re ensuring we stay compliant with the SEC, and as a result, they won’t function as a passive income source. Instead, we’re turning to Zealy – a platform many of you are already familiar with.
For those unfamiliar with Zealy, it’s a dynamic platform that empowers the NetVRk community to actively promote our project. By completing tasks (called quests), you’ll earn XP, and the XP earned during the next contest will play a pivotal role in determining your eligibility for different staking pools. Yes, you read that right – your ongoing efforts to spread the word about NetVRk and contribute to our community will be acknowledged and valued when we reward those who truly make a difference!
Pro tip: Complete quests from the Boost Zone category before the next contest starts, and you’ll be able to claim the XP they are worth once the next contest begins!
