Unleashed Creativity: Social VR Platform Netvrk To Integrate Elrond Network For NFTs And DeFi
We’re happy to announce that we have started a collaboration with Netvrk, a metaverse built on the blockchain for business, education, and entertainment.
Netvrk is on a mission to make the metaverse mainstream, by enabling anyone to start creating, sharing, and monetizing their creations, utilizing NFTs and virtual land.
The platform offers powerful creation tools and infrastructure that make it easy for the average internet user to immerse themselves into existing virtual spaces, or create their own. Advanced users can create their own experiences or even connected apps, all of them monetizable through the sale of land, items, ads, or NFTs.
We will work together to integrate the Elrond mainnet in the Netvrk ecosystem so that NFTs can be minted on our blockchain. Furthermore, a portion of the Netvrk token will be minted as ESDT on Elrond to participate in DeFi opportunities on the Maiar Exchange. Elrond will also be featured in the Netvrk metaverse, allowing users to visit and interact with our virtual headquarters.
“Virtual Reality and the metaverse is the next logical step for human curiosity to engage in exploring beyond what is possible, into what is imaginable. Creative digital settings can act as enhancers for business, education, and entertainment, and anchoring the experiences in the blockchain is the only solution for them to persist in the long term. We’re looking forward to connecting the Elrond Network with the Netvrk metaverse.” said Beniamin Mincu, Elrond Network CEO.
“Elrond’s unique approach to NFTs makes them truly inexpensive to mint, transfer, and own. This will be interesting for our user base, which we look forward to expanding to include Elrond’s vibrant community and accelerate the growth of the Netvrk ecosystem” said Michael Katseli, Netvrk CEO.
Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
Netvrk is a social virtual world and platform, with powerful creation tools and infrastructure to easily create, share, experience, and monetize creations. With a focus on gaming, education and virtual workplaces, built around ownership of virtual land and assets.