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NetVRk is positioned as a unique marketplace in which users can create their own worlds, cities, and items in multiple universes. They can also hold ownership, conduct trading, earn rewards, use a range of payment methods, and experience many other opportunities (see below). NetVRk participants have access to a wide range of entertainment and business activities within the multi-functional blockchain-based environment. Find out below exactly what you can experience by participating in the NetVRk universe
All users will be able to sell and trade content on NetVRk, including original content they have uploaded and added to the marketplace, content they own the copyright for, their own virtual real estate in the NetVRk universe, and any other content they own and is stored in smart-contract form associated with their NetVRk blockchain account.
SMART OWNERSHIP AND USING SMART CONTRACTS
All platform assets are presented with the non-fungible ERC721 token standard, which contains owner information in its metadata and provides proof of ownership. When the user places an item for sale on the NetVRk marketplace, it will be linked to the category that best describes their offering. All deals in the NetVRk marketplace are supported by smart contracts.
Types of Ownership
For transactions of digital assets, users will be able to select type of ownership: full ownership, partial ownership, and/or type of license. This includes the following: Types that are for monetization purposes and/or exchangeable/tradable and can be implemented in the land of the user • Personal use (for instance, a 3D avatar to be used exclusively by the buyer. The buyer has no option to sell it to more than one person)
• Public use (for instance, a game created by a developer is sold on the marketplace, and whoever buys it can modify it, offer it on the marketplace, and sell it to others) • Part public custom license (the seller can define the percentage of sales the buyer agrees to pay for each sold item) Types that are for generic apps/games access at the owners land • Other generic types will be Freemium with in-app purchases, paid purchases, and/or a mixture of the two. This includes timebased subscription access to games/apps and services. NetVRk smart contracts will be exceptionally convenient, allowing users to create and rewrite license agreements with all the required features within a user-friendly interface.
ACCEPTING ALL CURRENCIES
NetVRk will offer users the flexibility to accept a variety of currencies and payment methods in addition to the native tokens of the platform, $NTVRK. It is the user’s choice to set his/her crypto wallet to receive payments in multiple currencies. NetVRk will charge an extra fee for transactions in other cryptocurrencies, whereas transactions in $NTVRK will incur significantly decreased fees
TAX AND LEGAL
In order to be able to withdraw large amounts of money from NetVRk, as in other games and platforms, the user will have to send tax information and upload it to NetVRk. It is up to the user to pay his/her taxes, and NetVRk will not report users to the IRS or other tax institutions, just as other games and platforms do not
Getting Paid P2P
Users desiring to exchange property with each other can do so directly using their NetVRk wallets. 05 To conduct these types of transactions, both the seller and buyer will be using NetVRk’s user-friendly smart-contract interface, which allows them to access each side of their inventory to choose the item/s they want to exchange, enter the buyer ID, and set the price.
Selling and Trading Virtual Real Estate
NetVRk also allows users to own “land” in the form of digital locations in the NetVRk universe. Virtual places will also be tradable and purchasable by users (similar to content), with different forms and definitions of ownership for the buyer, renter, or seller. You will also have the ability to “give away” or list for rent or sell your land and monetize it. This includes part ownership so you can enjoy the revenue from renting.
Why Is It Good to Own Land on NetVRk?
Users can buy virtual land and use it for a variety of purposes, including:
PERSONAL SPACE
Users can spend time by themselves or host their friends. If they wish, they can also design with original, free, or paid content from the marketplace. Example of personal use: Users could own a virtual 3D model of their “dream” house with an interactive movie theater to watch their favorite NETFLIX series with their friends. They could access a disco with an AI DJ, where they could set the tracks they want to hear while they and their friends get high on “virtual shrooms.” There could even be a functional tennis court to play VR tennis with friends (or, when they are lonely, with an AI/VR “friend”).
Users can sell their virtual real estate by giving full or partial rights of ownership to the buyer, or even temporarily leasing their land in exchange for revenue-sharing. The land a user can own is not limited to a single lot, but could be a whole section in a city, a whole continent, or even the whole universe.
The NetVRk business model is based upon several main stages, the completion of which will enable us to establish an interactive, global VR platform for users to find, create, experience, and trade their VR content. The NetVRk business model consists of the following elements:
IDO TOKEN-GENERATION EVENT
The token sale campaign is launched with chosen exchanges to provide users with the ability to purchase $NTVRK ERC-20 utility tokens. $NTVRK grants access to the NetVRk platform, will be tradable on public exchanges, and can be used in peer-to-peer transactions between users on the public Ethereum block-chain.
DECENTRALIZED MARKETPLACE
The NetVRk decentralized marketplace was developed within the Ethereum Consortium blockchain. This solution allows a direct connection between buyer and seller, thereby reducing fees and increasing transaction speed. Within the NetVRk marketplace, users will be able to securely interact in the virtual reality environment, easily creating their own worlds, universes, and/or VR content. They will also be able to trade or lease it using smart contracts in the decentralized environment.
PROOF-OF-OWNERSHIP
The VR content created and advertised in the world of virtual reality is owned by creators, and relevant data is stored in hash value in the non-fungible token standard (ERC721). ERC721 tokens represent item ownership, and can be freely sold or leased to delegate ownership rights to another person or business.
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