TL:DR
Big things are happening at NetVRk! We’ve welcomed the “Crypto Godfather” Michael Terpin as an advisor, and Pantikor has joined us as the Director of Product Strategy. Our new marketing team, led by AvatarBlue_Netvrk, is set to boost our visibility with viral campaigns. Exciting enhancements have been made to the gaming experience, ensuring smoother and more immersive gameplay. Plus, the NETVR token staking feature is nearly ready to launch! Don’t miss the details on our latest updates—keep reading for the full rundown!
Studio Update
We’re thrilled to share some exciting developments within the NetVRk team. As many of you know, Michael Terpin, the “Crypto Godfather,” and his PR firm Transform Group, has joined us as an advisor. If you haven’t caught up on this news yet, check out our X announcement here. Michael’s extensive network and expertise are already proving invaluable as we push the boundaries of what’s possible in the metaverse.
As many of you already know, Pantikor, a long-time community member and investor, joined us as the Director of Product Strategy last month. Pantikor will play a crucial role in strategic planning and ensuring that our future release dates are well-coordinated and met.
Additionally, AvatarBlue_Netvrk is leading our new marketing team. With a proven track record in successful Web3 marketing campaigns, AvatarBlue will focus on viral marketing through influencers, videos, partnerships, and more. Together, Pantikor and AvatarBlue will work towards enhancing management transparency and driving NetVRk to new heights!
Development Update
In this update, we’ve made significant improvements to enhance your gaming experience. We’ve optimized vehicle load times, ensuring you can get into the action faster than ever. For our tech-savvy users, we’ve added new resolution settings, including support for 4K and widescreen displays, so you can enjoy the game in even more stunning detail. Additionally, we’ve introduced a respawn button in the pause menu, perfect for when you get stuck or just want to get back to the starting position. Lastly, voice chat functionality has been extended to work seamlessly both while driving and as avatars, ensuring clear and effective communication in all scenarios.
AI Update
Our metaverse is set to become more engaging and lifelike with the introduction of our hyper-intelligent AI, Silk. We are proud to be the only metaverse incorporating such advanced AI technology, which promises to fill our virtual world with dynamic and interesting conversations.
Discussions with successful VR and gaming investors have confirmed that hyper-intelligent AI is essential for creating an exciting and immersive metaverse. Silk’s intelligence will ensure that our virtual world is not only interactive but also continually evolving, making every experience unique and captivating. Stay tuned as we continue to enhance Silk’s abilities, bringing you a metaverse like no other.
Blockchain Update
We are pleased to inform you that our team has made substantial progress on integrating NETVR token staking features into the current staking platform. The frontend development is nearly complete, and we are in the final stages of developing the token staking smart contracts. Before these contracts are made available to the public, they will undergo a thorough audit to ensure their security and functionality.
Once the token staking feature goes live, users will be able to stake their NETVR tokens and receive synthetic sNETVR tokens. These sNETVR tokens will represent both the staked amount and the rewards accrued during the staking period. It’s important to note that these synthetic tokens are neither tradable nor transferable and will be burned upon the withdrawal of the staked NETVR tokens. For further details on token staking, please refer to our previous devlog.
Please note that the following dates are rough estimates for the next distribution of NETVR tokens for those awaiting the swap from their old NTVRK tokens:
- Polygon Distribution: This week
- Ethereum Distribution: Mid to late August 2024
Community Update
We want to remind you about the participation requirements for this quarter to receive your NFT staking rewards. While the current rewards might be smaller than before, it’s crucial to remember that by staking your Land and Transport NFTs, you will continue to increase your Long-term Holding Multiplier. This multiplier will increase your rewards pool weight the longer you stake, and it’s calculated as follows:
1 Month: 1x
3 Months: 1.1x
6 Months: 1.2x
12 Months: 1.3x
18 Months: 1.4x
24 Months: 1.5x
30 Months: 1.6x
36 Months: 1.7x
42 Months: 1.8x
48 Months: 2x
The more months you stake your NFTs, the higher your future rewards will be.
Additionally, by participating in the quarterly questionnaire, you provide us with valuable insights into the community’s thoughts and feelings. This feedback is vital for us to understand your needs and preferences better, and it helps us implement your suggestions and ideas.
