INTRODUCING NETVRK : UNPRECEDENTED VIRTUAL REALITY PLATFORM

INTRODUCTION

Netvrk was established with the intention of exploring the virtual world to help users satisfy their virtual needs for both professional and entertainment purposes. It is based on blockchain smart contracts which will help the participants to monetize their virtual potentials.

Virtual Really is related to the ancient stereoscopic device invented by Charles Wheatstone in 1938. Presently, it has been transformed by modern technology generated through computer device algorithms.

The management of Netvrk has developed a platform that enables its users to easily create VR contents using the platform's visuals/3D/codes or Netvrk VR creation tools. The platform offers various features that enable its users to create VR without much skills or knowledge, thanks to massive technological improvements.

The platform is managed by a team of individuals who have experience in Virtual and VR development, blockchain development, business development and marketing, business advisory and blockchain advisory.

MARKET CHALLENGE

Over the years, the media and entertainment industry have been dominated by AR and VR production which are used for various applications and is fast growing world wide, accounting for over $2 billion transactions by 2020. This massive need for VR contents resulting from the growth in its users across the smart technology industry will provide great opportunities for the virtual Reality market sections, such as :

Device - head-mounted device (HMD), head-up display (HUD), projectors, display wall, tracking device, handheld device etc
Offerings - hardware and software.
Applications - commercial, consumer, enterprises etc.
Vertical - entertainment and media, gaming, healthcare, retail, education, manufacturing etc.

INDUSTRY PROBLEMS AND SOLUTIONS.

There are some problems in the virtual market which the Netvrk platform provides solutions to. Such include:

Poor Quality Contents

Virtual Reality experience is the same thing as having a real life experience of such action. Various VR users are eager to have various experiences of such activity, making it a point of duty to create a great amount of VR content and places in order to the needs of its users. Presently, there is lack of adequate quality VR contents supplied to the users. There are few games for gamers, limited hang out places to relax, and lack of well-crafted design tools.

Netvrk intends to prefer a solution to these problems by providing various uncommon VR contents. The platform will provide an enabling environment and tools for its users to create VR contents which will be reviewed and added to its database. The content will be monitored and appraised by a staff member assigned to it, to ensure it maintains a high-quality for its users.

Entry Issues

Virtual Reality is a computer generated programmed content. It needs continuous acquisition of new skills and modification of old skills. It also cost a lot of money to develop a VR application, posing a financial challenge to some creators.

Every creative user of Netvrk platform will be given the needed tools and support by VWGen editor to develop VR applications easily. This allows every user with complex ideas to present and develop such without the need for coding.

This process attracts various groups to partner with the community in developing VR applications. Useful directions are provided to the participants to make their creations useful.

Challenges of Monetization

VR contents are difficult to monetize presently as a result of lack of solid user base, because of few mainstream industries on VR.

Netvrk provides various avenues for the participants to monetize their developed VR contents. Participants can develop, customize, advertise and sell or lease their products and services to earn some income/royalties.

Netvrk proposes to avail its users a unique platform that will provide great VR development tools, public interaction opportunities and avenues to showcase, and monetize VR products.

The main focus of Netvrk is on gamers who are a very strong community hungry for new experiences. Other groups expected are :

VR enthusiasts
Content creators
Advertisers
Developers
Businesses

BENEFITS OF NETVRK USERS

Content creators/advertisers

Quick and easy generation of VR contents.
Convenient multifunctional user-friendly platform
Secured marketplace for trading goods and services.
Convenient advertising and content monitization environment
Cost efficiency

Developers

Simplified/modified application creation
Accessing template usage in VR content creation process

Businesses

Good cooperation and partnership environment
New frontier for products and ad placement
Ability to create, promote and sell VR contents.
Trading real estate in the virtual environment
Revenue stream generation

Gamers/VR enthusiasts

Possibility to enjoy new experiences in virtual worlds.
Easy communication with family and friends in uncommon ways.
Access to various tools used in game development and adding content.
Easy creation of VR places with the assistant of Netvrk editor
Monetization of skills

Netvrk has strong competitors who are established in the VR industry, but it will apply blockchain technology in its business approach to yield the following:

Additional security features
Total transparency
Traceability
Data accuracy
Accountability of the platform process

FUNCTIONS OF NETVRK PLATFORM

Selling and Trading content

Netvrk presents a perfect marketplace for its participants to trade VR products and services. These transactions are based on smart contracts support.

The VR products are developed with third-party Apps and transmitted into Netvr using non-fungible ERC721 tokens, which comprises detailed information proving the ownership of the VR content.

Types of Ownership

Participants in Netvrk platform VR introduction will choose the type of ownership licence they need, whether full or partial ownership. Such ownership include:

Types for monetization or transaction purposes which can be executed in the user's land.
Types for generic apps/games access at the owner's land.

These VR contents will be scrutinized and examined by the community and Netvrk's dedicated team to ensure that it does not have adult contents that will be morally harmful to the younger ones.

PAYMENT IN NETVRK MARKETPLACE

Payments in Netvrk will be done using its native currency - $NTVRK, other currencies will also be accepted in settling Netvrk transactions based on the user's choice.

The user can opt to set his/her crypto wallet to receive payments in multiple currencies.

Transactions in order currencies will attract a charge of extra transaction fee unlike the ones done with NTVRK tokens.

P2P Payment

Users can easily do free transaction between themselves by using the Netvrk user friendly smart contracts.

TRADING VIRTUAL REAL ESTATE

Netvrk users can acquire "land" in digital form and location in the Netvrk universe.
These land assets can be rented or traded in parts by owners to earn revenue. It can also be used for some purposes like :

It can be personal used to host and entertain friends or to design free or paid VR contents for the marketplace.
It can also be used for paid promotional purposes, thereby earning income for the owner.

NETVRK UNIQUE EDITOR

The Netvrk editor helps users with little or no skills to to develop unimaginable VR contents on their own through active random trials, trade shows and private setups. Confessions of users active interactions with the editor can be accessed on :

https://youth.be/bZGitb3iCDA

Creating Together

This is a feature of Netvrk that enable two or more users with good ideas to come together and develope a VR content.

The users of Netvrk can create the following:

VR Obstacle game
VR Shooter
VR Horror Game
VR Car Race
VR Fun Space
VR Office Space
VR Club VR Store
VR City

TOKENOMICS

NETVRK BUSINESS MODEL

This are set global stages and platforms that help users to create, experience and transact their VR contents. They are :

IDO Token-Generation Event

This is fundraising program executed with selected exchanges to enable users to acquire NTVRK tokens which gives access to Network platform.

Decentralized Marketplace

This marketplace is established through Etherum blockchain. It enhances permissionless contacts between the seller and buyer and empowers increased transactions. Users are free to invent and trade or lease their personal virtual contents using smart contracts.

Proof of ownership

Users in Netvrk prove their ownership title with non-fungible ERC 721 tokens.

Rewards System

There are lots of incentives designed to reward the contributions of participants in Netvrk Platform

Financial Projections

The Netvrk team has projected financial estimates based on professional analytics and user-base contracts, and other use cases of various VR and media platforms across the globe. They projected an estimated average growth of 25% and optimized 35% growth of active participants. They hope to generate revenue from the following activities:

Premium account sales
Subscription mode
Advertising
Sales of available applications
In-app purchase
Studio services for projects

REASON FOR USING BLOCKCHAIN

Blockchain

This is a digital ledger in the form of a spreadsheet that records and updates all valuable transactions across computer networks. It keeps a valid data chain without any manipulation.

Netvrv adopts the blockchain technology to avail its users the opportunity to participate, create, own, and trade multiple VR universes, cities and contents.

Blockchain help to allow Netvrk users to enjoy the following:

Transparency
immutability
High security
Cost efficiency
Decentralisation

DEVELOPMENT STEPS

There are steps of actions taken in the establishment of the Netvrk VR.

The management will initially unveil the planet map in a way of web interface. This will enable early investors to acquire and start trading on the marketplace, thereby gaining the chances of good pricing. Creators and business developers will start showing their interests on the platform and developing their experience on Netvrk VR when it is launched.

After this stage, the MVP will be developed in two phases for blockchain and non-blockchain environments.

The phase for non-blockchain environment include:

development of the platform back end and front end
development of UI/UX design
scaling of the platform
development of internal databases and communication between them
development of off-chain data storage and its communication with the platform
development of communication between the platform and the external environment

The phase for blockchain environment include:

nodes deployment
development of platform smart contracts
development of tokens in the private side chain
development of Oracle nodes for communication with the external environment
development of communication between blockchain

Platform scale-up, full product release.

This stage will witness the development of the following services:

contents updates
extensive analytics
business and developer toolkit
cross-platform : mobile and web
migration of all VR/AR content

The process of platform scaling will also include enhancement of :

opening of platform to B2B
additional point-solution partner integration
establishment of business intelligence
international market.

DISCLAIMER

The contents of the Netvrk white paper is for information purposes and does not represent a contractual agreement.

NTVRK tokens do not constitute security in any jurisdiction and the shares of the company are not currently registered under the security Act of any country or state.

Users must admit to be conversant with the risks involved in cryptocurrencies trading and consult their legal, financial, tax and other experts for professional advice and direction about taking part in the Netvrk platform.

Netvrk will not be liable for any loss or damages incurred by its users in the course of their activities on its platform.

USEFUL INFORMATION :
Website: https://netvrk.co/
Whitepaper: https://whitepaper.netvrk.co/
Telegram: https://t.me/NetVRk_Official
Twitter: https://twitter.com/NetVRk1
Facebook: https://www.facebook.com/NetvrkVR

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