PolkaCity: A Metaverse Created Like GTA (Grand Theft Auto)

Blockchain technology is evolving at the speed of light and Metaverse is one of the interesting topics that´s under the radar.

A Metaverse is a digital world, similar to a game, where people can explore and interact with other people and places. One thing that a Metaverse has that is game changing is its own economy. Normally every metaverse has its own currency and this currency can be used to buy NFTs, that provide the user a ownership of a land, a service or a business.

One metaverse that has created high expectations is PolkaCity. Lets dive in this metaverse and see what it has to offer.

PolkaCity like every metaverse has a open world built in it and it also has its own currency. The currency is POLC and its a multi-chain currency available on Ethereum and Binance Smart Chain. While transactions on the Ethereum platform have high gas fees, on BSC fees are low making it easier for users to bring their investment to the game. Interactions with the game can be made with MetaMask, users can add BSC RPC to their wallet and start to interact with the game and its NFTs.

Tokenomics

An important step to take before investing in any project is looking at their tokenomics.

Right now POLC is placed on the rank 1062 by market capitalization and has a trading volume just above 2 million dollars. Another thing that can be taken from this is that it has an all time high of $2.83 in November, but has crawled down in price since prices started to drop and it´s now sited at almost $0.29. The price right now is really appealing if the project becomes a major success. If we analyze the market capitalization, it sits only at 12.5 million dollars and we can expect a big upside if adoption really comes to this project.

Analyzing the official chart from PolkaCity we discover that POLC is capped at 250 million tokens, a good number to achieve both scarcity and availability. The team also gives a lot of transparency on what they will do with the tokens, although it seems a lot of tokens are held for private sales, pre-sales and the team, the platform itself is attributed with 80% of the total supply, which isn´t bad considering everything.

Gameplay

PolkaCity aims to be the Grand Theft Auto (GTA) of the Metaverses, to achieve this the team loaded the game with various services like taxis, cars, helicopters, gas stations, various companies, billboards and a lot more. Every one of this things can be obtained by purchasing the respective NFT, once you own the NFT you can use your item in game. This items have a staking APY that varies depending on the item you purchased. This brings the ability for users to earn passive income just by holding their NFTs.

Lets look at the most basic NFT you can purchase on PolkaCity.

A Polka Camera is the cheaper NFT you can get on Polkacity, although it started to be sold at 52 POLC, right know you can only get it for 140 POLC. This item gives you the ability to earn passive income, meaning that you will earn 1 POLC per week. It seems like a high effort to get your return on investment and it is, you would have to wait 140 weeks before you get even and 140 weeks is a lot of time in this space. Speculation on the items price may help you because it can become more valuable in the future and you can sell it for profit. The opposite may also happen, it can go lower in price, it all depends on how much people are willing to pay for this in game NFT, this type of investment has some risk involved and users need to be ready for everything.

A lot of other items are available and some with quicker returns on investment but they are also more expensive, you have to have a lot of money if you want to start big in PolkaCity. A Polka Moto costs at least 2189 POLC ($630) right now and it´s not even close to the really expensive items in the game. You can use the marketplace to search and get an idea of how much things cost on PolkaCity.

Gameplay Images

The game looks a lot like GTA, the layout is similar and everything you can do in game looks similar too. The game is only available in DEMO which means that the full release will only be available later. You can still earn passive income on your NFTs purchases without the game being fully released, and you can check the DEMO to start understanding the game a little better. You also can play in Multiplayer mode and find other people just like on GTA.

This game is extremely well built and its concept is getting a lot of attention, one thing that still didn´t got much attention it´s POLC price, you can still get it cheap. Even if you don´t want to participate in the game, you can purchase POLC on Kucoin, Uniswap or Pancake Swap and maybe enjoy a steady increase in price as the game becomes more popular.

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Best Regards,

Cryptopeach