Posted: Jan 19, 2024 2:28 PM Updated: Jan 19, 2024 2:28 PM
Crypto-based metaverse platform NetVRk has officially launched its anticipated token swap from $NTVRK to $NETVR.
NetVRk is also creating a bridge between Polygon and Ethereum blockchains, making things smooth and easy for users. This bridge helps the different parts of the blockchain work together seamlessly, so users can enjoy a seamless experience no matter which blockchain they use.
Explaining the intent of the rebrand, Mike Katseli, founder and CTO of NetVRk, told Metaverse Post: “We decided to rebrand our company and it clearly outlines everything. We want people to immediately understand what NetVRk stands for. As you can see, the new name was carefully considered. At first glance, it reads as ‘network’. It’s about our commitment to connectivity, which is fundamental to today’s world. But there’s a twist here. If you look closely, you can see the letters VR in capital letters. That’s where the magic happens. Suddenly it reads as ‘net-vr-k’, a subtle yet powerful nod to our primary focus on the fascinating realm of virtual reality.”
“The stock name change from $NTVRK to $NETVR is not just aesthetic, it emphasizes that our token is at the forefront of the VR metaverse,” he added.
The claiming page for token swaps is now open to NetVRk token holders, and previous NTVRK holders can claim new $NETVR tokens fee-free through the company’s claiming portal, available on both the Ethereum and Polygon networks.
“We are committed to improving user experience and community engagement. Our generous two-year billing portal ensures everyone has enough time to participate in the token exchange seamlessly,” said NetVRk’s Katseli.
Additionally, NetVRk has introduced upgradable smart contracts to empower the community directly. In the event of a security breach or unfair gaming practice, community members can now take quick action. A simple and efficient reporting mechanism allows users to blacklist wallets, freeze owner tokens, and more.
According to NetVRk founder Mike Katseli, “This feature serves as a collective policing mechanism to ensure the highest level of fairness, integrity, and security within the $NETVR ecosystem.”
NetVRk’s collaboration and future plans
The company has partnered with KuCoin and MEXC to improve the accessibility and liquidity of the $NETVR token. “The goal is to capture the attention of a wider audience, drive more eyeballs and encourage active participation in the exchange,” Katseli said.
NetVRk also adopts a forward-looking approach by maintaining the $NETVR token on both the Ethereum and Polygon blockchains, providing easy accessibility to users. Ethereum serves as the original birthplace of NFTs, while Polygon contributes to lower transaction fees and a broader user base.
Additionally, plans are in place to support the Avalanche blockchain under the latest DAO proposal, reflecting NetVRk’s strategy to expand its presence across multiple blockchain networks.
“In our upcoming alpha release, we will be unveiling our groundbreaking AI NPC technology with access to community testing. Our AI achieves unparalleled response times thanks to our proprietary server and engine communication solutions, which provide a unique competitive advantage,” NetVRk’s Katseli told Metaverse Post.
“We are advancing emotional intelligence (EI) to create human-like connections beyond immediate interactions. “Unlike current solutions, our AI understands and stores users’ emotions, fostering deep connections and real relationships,” he added.
NetVRk’s ambitious plans extend to its “Creation Engine,” which allows users to easily design games, interactive learning experiences, and business simulations. As the platform prepares for its alpha release and embraces new blockchain partnerships, the company is working to establish itself as a leader in the evolving cryptocurrency-based metaverse landscape.
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About the author
Kumar is an experienced technology journalist specializing in the dynamic intersection of emerging fields including AI/ML, marketing technology, cryptocurrency, blockchain, and NFTs. With over three years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and providing comprehensive insights. Kumar’s expertise lies in producing impactful content, including articles, reports and research publications for prominent industry platforms. With a unique skill at combining technical knowledge and storytelling, Kumar excels at communicating complex technical concepts in a clear and engaging way to diverse audiences.
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Kumar is an experienced technology journalist specializing in the dynamic intersection of emerging fields including AI/ML, marketing technology, cryptocurrency, blockchain, and NFTs. With over three years of experience in the industry, Kumar has established a proven track record in crafting compelling narratives, conducting insightful interviews, and providing comprehensive insights. Kumar’s specialty is producing high-impact content including articles, reports and research publications for prominent industry platforms. With a unique skill at combining technical knowledge and storytelling, Kumar excels at communicating complex technical concepts in a clear and engaging way to diverse audiences.