POLKACITY merges the power of cryptocurrency, NFTs and gaming to create a virtual world where users can earn money as they play.
As the popularity of metaverse games skyrockets, here is everything we know about the “GTA of Cryptocurrency”.
What is Polkacity?
PolkaCity is contract-based metaverse game, where players can invest in virtual assets to earn cryptocurrency.
Like other crypto-based games, PolkaCity has seen a boom in interest, since Facebook announced its rebrand to Meta.
However, this metaverse game is positioning itself as the “GTA of Cryptocurrency” – adding a Grand Theft Auto-style gameplay to the mix.
The project encourages players to invest in non-fungible tokens (NFTs) in-game assets such as cars, gas stations, car washes and hot dog stands.
These in turn will start bringing investors a passive income in the game’s native currency POLC.
As of January 2022, 1 POLC equals $0.41 (£0.30), however its price peaked in November 2021 at $2.52.
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How does Polkacity work?
PolkaCity operates entirely in the virtual crypto universe – the metaverse.
The virtual city combines the decentralised finance token (DeFi) Polkadot, and NFTs to create a marketplace where investors can earn passive income.
The game uses POLC – its primary token.
POLC is used for transactions within the game, as well as to sell and buy assets such as land, buildings, cars and pets.
Although it works in a similar way to other metaverse games, what makes PolkaCity unique is the inclusion of a gameplay similar to Grand Theft Auto.
But the main difference between GTA and PolkaCity is obvious – gamers can make real-life profit from playing the crypto game.
The full version of PolkaCity has not been launched yet, but a high-quality demo has got investors excited.
Users can customise their avatar, buy sell and trading land, or choose to open businesses such as car washes, gas stations, and hotels.
How to earn money in Polkacity?
To make money on PolkaCity, you would need to invest in in-game assets which, as the game grows in popularity, will bring you money.
As with almost all blockchain-based play-to-earn games, PolkaCity requires an initial investment.
In order to start buying assets from the marketplace and profiting from them, you will need to acquire POLC, according to CryptosRus.
You will also need a virtual wallet – PolkaCity recommend using MetaMask.
Without a wallet, you will not be able to sign up, purchase or sell NFTs on the game.
Although the full version hasn’t launched yet, thousands of assets have already been sold.
According to the Insider, 37-year-old investor Robert Doyle has earned almost $100,000 in six months, by investing in a car-repair a bank in the game.
However, Doyle took a big gamble by investing in the game, unsure he would make his money back – he put in $23,000 for the repair shop, and $3,500 for the bank.
When the game launches, he hopes to see an even bigger profit, as players start paying him to use the repair shop.
Players can purchase other assets such as discos, galleries, gas stations and even pets.
According to the PolkaCity roadmap, the game will also soon add casinos, where profits will be split between the business and casino NFT holders.
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Read More: Polkacity guide: How to make money in the play-to-earn crypto game