If 2021 hasn’t been wild enough, virtual real estate is selling for more than real land. You’ve probably heard about Decentraland (MANA) and Sandbox (SAND), but today we will dive into Polka City and their virtual world.  Covered: What is Polka City? How Do You Buy Items/Land on Polka City? What’s Next? What is Polka […] The post What is Polka City? appeared first on CryptosRus.

What is Polka City?

If 2021 hasn’t been wild enough, virtual real estate is selling for more than real land. You’ve probably heard about Decentraland (MANA) and Sandbox (SAND), but today we will dive into Polka City and their virtual world. 

Covered:

  • What is Polka City?
  • How Do You Buy Items/Land on Polka City?
  • What’s Next?

What is Polka City?

The Metaverse and NFT crypto coins have been gone absolutely parabolic since the Facebook news of rebranding to Meta.  Decentraland (MANA) and The Sandbox (SAND) have been stealing most of the volume and headlines, but some others are gaining traction as well.

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Polka City is similar to those metaverse games, but with one main difference: It adds Grand Theft Auto-like game-play to the mix. Right now, items are available to be bought on either Ethereum or Binance Smart Chain via their website’s marketplace. POLC is the coin used to buy and sell items, $POLC is currently listed at $2.06.

But why are people buying all this virtual land? A lot of speculation, but there is a lot of traction to this movement.

If the metaverse changes the way we live, buy goods, procure services, interact with friends, etc., why not start investing in these “undiscovered” lands/plots. Time will tell if these are over or underpriced now, but people aren’t waiting around, they’re are putting their coins down and staking their land.

 

 

Polka City just recorded a record sale on November 23rd. A hotel sold for $370,000. Currently, when you purchase any type of real estate or items you are paid an aggressive fixed APY. These terms are typically for 99 weeks. You are paid in $POLC, which happens to be up 600% on the month, not a bad return, especially when your APY is 358%.

 

 

How Do You Buy Items/Land on Polka City?

Although it would be nice to purchase these items like buying an item on Amazon, that is not the case. There are a few steps that are necessary in order to purchase items successfully. Below we will list the required steps to secure your purchase.

  • 1- Visit the market place on polkacity.io/nft-store and find what item you’d like to purchase. Within there it will show the amount of POLC needed and the terms of the purchase, in some cases you may have to connect your wallet to see prices.
  • 2- You can buy $POLC directly on Gate.io or you can choose Pancake or UniSwap to swap your BNB or ETH for POLC. Again, both chains are used on the Polka City platform. If converting you will need a wallet to connect to the swap exchange to perform your swap, like MetaMask or Trust. You will also need to import the $POLC token smart contract, which can be found here. Once bought or converted, you know have your POLC in your wallet and you can hit the marketplace and purchase your new item or real estate.
  • 3- Connect your wallet to the marketplace on Polka City’s website and place your purchase. Some items allow you to customize them as well, once customized you can complete your purchase.
  • 4- You now own an item or real estate and you can sit back and earn your APY in $POLC. Each item or real estate carries different terms, so these will vary.

Below is a great step-by-step video provided by Project MoonGold.

 

 

What’s Next?

Recently they announced a strategic collaboration with Ferrum Network, where Ferrum is integrating their staking technology in their recent and upcoming metaplot sales. Now you’re able to stake your land into four separate pools they have created.

They initially started with selling items and landmarks: taxis, gas stations, lambos, etc. Now they’ve taken it a step further with land sales. And who knows what they have in store next. It would be interesting if you had to build it instead of buying the gas station- by buying wood, roof, workers, etc.

They will have their Grand Theft Auto style game coming soon too, check out the sneak peek below. As stated earlier, a lot is in wait and see at the moment, but there is serious traction to all metaverse plays and Polka City is one of them.

 

 

 

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