Virtua

About Virtua

Virtua is at the forefront of the evolving metaverse landscape, providing a dynamic and engaging platform where gaming meets the future. This digital universe invites participants to dive into a world rich with Web3 gaming opportunities, vibrant social engagements, and a plethora of digital collectibles. Central to Virtua’s ecosystem is its proprietary currency, TVK, which powers transactions and unlocks unique features within the platform. Our comprehensive coverage delves into the origins of Virtua, its innovative mechanics, visionary creators, and the potential developments that could shape its trajectory in the digital space. Join us as we explore the intricacies of Virtua and its role in defining next-generation online interactions.

History of Virtua

Launched in 2017, Virtua’s innovative journey is steered by its co-founders Gary Bracey and Jawad Ashraf. Gary Bracey, serving as the chairman, brings over three decades of expertise to the table. His prolific career includes roles such as Vice President at Ocean Software and Commercial Director at Kuju Entertainment. He is also known for founding Digimask, a trailblazer in VR development for the entertainment sector.

Jawad Ashraf, Virtua’s CEO, complements the leadership with his entrepreneurial spirit and extensive background in engineering, strategic oversight, and project management. His 30-year tenure in the startup ecosystem is marked by significant achievements in business growth and development.

Supporting this dynamic duo are key figures like COO Doug Dyer and CSO Jeff Holmberg, each bringing their own unique skills to Virtua’s operations.

Under their guidance, Virtua has formed strategic partnerships with major players across the gaming and entertainment industries. Notable collaborations include serving as the official NFT provider for industry giants like Paramount Pictures and Legendary Entertainment. The platform also harnesses advanced technologies through alliances with Unreal Engine, Unity, Polygon, and Arkane Network, further cementing its position at the cutting edge of the metaverse and digital interaction.

How Does Virtua Work?

Virtua has been engineered to revolutionize the world of non-fungible tokens (NFTs), creating a versatile NFT ecosystem that spans across various platforms. This includes a dedicated marketplace website, applications for both PC and mobile, and immersive experiences in augmented reality (AR) and virtual reality (VR) settings.

At the core of Virtua’s operational efficiency is its integration with the Polygon blockchain network, known for its enhanced scalability and robust security features. Initially launched on the Ethereum blockchain, the developers soon expanded to Polygon, a Layer 2 scaling solution for Ethereum that significantly cuts gas costs and boosts transaction capacity. This dual-chain integration ensures that Virtua remains in perfect sync with both the Ethereum and Polygon blockchains.

The ecosystem is further enriched by the use of TVK, an ERC-20 token that serves as Virtua’s native cryptocurrency. TVK facilitates seamless asset transfers across the marketplace, allowing for broad interoperability across different projects and blockchain networks. Ensuring security, the platform adheres to the proof-of-work consensus mechanism foundational to the Ethereum blockchain.

Moreover, the Virtua ecosystem is set to be augmented by the Virtua Wrapper Smart Contract, aimed at enhancing system stability and improving transaction speeds. This smart contract ensures expedited transactions across Virtua’s assets, and its network architecture enables efficient data exchanges with other blockchain systems. This connectivity allows users and developers to interface with various blockchain networks effortlessly, bypassing the need for direct integration with each individual side chain.

Key Features of Virtua

Virtua is blending the latest in blockchain technology with virtual reality (VR) to create a space where users can showcase and engage with digital collectibles in vivid, immersive settings. It’s not just a platform but a thriving community where gamers and NFT aficionados can connect, trade, and even craft their own NFTs, establishing it as a vibrant nexus for both collectors and creators.

Key Highlights from Virtua:

1. Virtua Metaverse: Launched in July 2023, Virtua unveiled the Virtua Metaverse starting with a land sale on Virtua Prime, the inaugural planet. This digital realm is accessible without any initial downloads and will soon be available on mobile apps and through VR, providing users with flexible access options. The metaverse welcomes everyone, with no restrictions based on location or TVK token ownership. New users receive a complimentary VFlect robot avatar.
2. Virtua Marketplace: This secure trading platform is where users can exchange tokens and explore NFTs from major entertainment partners like Paramount Pictures and Legendary Entertainment, featuring iconic franchises like the Godfather and Godzilla vs. Kong. Transactions are distinguished between primary sales from Virtua and secondary sales by users. Additionally, Virtua supports direct purchases using credit cards.

Virtua is also home to unique digital characters known as vFlects, available for trading on the marketplace, each with its own rarity and design. This convergence of blockchain precision and VR innovation makes Virtua a standout platform for digital interaction and transaction.

TVK Token

TVK, or Virtua Kolect, stands as the cornerstone utility token of the Virtua platform, operating on the ERC-20 standard. This token enables users to engage deeply within the platform through various mechanisms. Participants can stake TVK to gain entry into the exclusive Virtua Prestige Club, where they reap rewards such as airdrops, previews, and other exclusive benefits. Additionally, TVK tokens can be utilized in farming activities to acquire unique pools and tradable NFTs.

The strategic fundraising efforts of Virtua were carefully orchestrated to benefit its long-term supporters. Early backers, including steadfast enthusiasts and their close contacts, were given priority during the seed funding phase. The subsequent private round targeted strategic investors from the cryptocurrency and collectibles sectors, aiming to enhance marketing efforts and establish crucial industry connections.

Tokenomics of TVK

TVK boasts a total supply of 1.2 billion tokens, with a market capitalization exceeding $20 million and a circulating supply of approximately 1.07 billion tokens. The allocation of these tokens was meticulously planned:

• 37% to investors
• 7% reserved for business development
• 20% to bolster the ecosystem reserve
• 20% dedicated to marketing efforts
• 16% distributed among the Virtua team

This structured distribution underscores TVK’s integral role in facilitating growth and fostering a robust environment for users and stakeholders alike.

Use Cases

Virtua is at the forefront of creating immersive experiences in social connectivity, Web3 gaming, and digital collectibles through its sophisticated platform. The platform is dedicated to enhancing a gamified environment where users not only interact but also store and tailor their digital collections within their personalized virtual spaces.

The Virtua metaverse is committed to broadening opportunities for developers, publishers, and various third-party collaborators. It is exploring expansive use cases across sports, entertainment, and gaming sectors. Central to the ecosystem is the TVK token, an ERC-20 utility token, which plays a crucial role in enabling a versatile range of functions and applications within the Virtua framework.