The Metaverse is currently one of the hottest topics in the crypto industry. It is a term used to describe a virtual world where users interact, work, play, and perform other functions as they would in the real world.
As various big tech companies and mainstream users join the virtual world craze, developers are building projects centered around the metaverse. However, since most of the major blockchain networks that these projects are built on were created before the metaverse era, they often fail to provide game developers and users with what they need.
To solve this problem, NELO has rebranded itself to focus more on GameFi and is introducing a metaverse-focused blockchain for developers and users.
What is NELO?
NELO is a protocol and framework designed to help developers build and deploy dApps alongside other Ethereum-compatible networks. NELO intends to give game developers a better experience when developing and launching their games and other metaverse projects on its long-awaited blockchain network.
The team noted that ever since it discovered that it could build a blockchain that can provide users with one of the fastest and most reliable systems in the industry for the metaverse, it has been realigning its efforts to develop the NELO Smart Chain (NSC). The NSC network is inspired by Binance Smart Chain (BSC), now known as BNB Chain, and its founder Changpeng Zhao.
The decision to rebrand and launch a custom metaverse-focused blockchain stems from a commitment to show developers the experience of using a metaverse-focused blockchain instead of other generic blockchains.
NELO is supposedly tailored to meet users’ gaming needs with a comprehensive support system for developers. It has a wide range of free and open resources and a support environment that is geared towards helping developers realize their vision without compromising security and speed.
Created by a team of experienced developers concerned about the future of the blockchain and metaverse industry, NELO will make it easy for developers to build their GameFi and metaverse projects on its blockchain.
The NSC mainnet is expected to officially launch in the third quarter of 2022. However, prior to the launch, there will be a series of testing phases that will allow the global protocol community to assess the functionality of NSC before it can be integrated. officially.
The project will also publish a new whitepaper in the coming weeks.
What is Neloverso?
Neloverse is an internal game that NELO is building on its blockchain, NSC. In Neloverse, players and creators have the opportunity to decide their personal gaming experiences and effectively monetize in-game creations.
NELO plans to boost the development and adoption of the blockchain gaming industry with various games. You will build your Neloverse game in collaboration with the leading game development company, EBIZWORLD.
Designed as a Play to Win (P2E) game, Neloverse will empower players as they enjoy a new gaming experience. Neloverse will integrate the concept of non-fungible tokens (NFTs), as NELO is currently making plans to partner with several major fashion brands to create a completely new experience for users.
Players can own digital collectibles such as LAND NFTs, which are digital pieces of real estate on Neloverse that players can purchase to build experiences. Players can use the ground to host a game, play a game on other players’ ground, gamble, or form districts.
The NELO tab
The project’s native utility token is called NELO. It powers every transaction made in the NELO ecosystem.
NELO is currently on Binance Smart Chain (BSC), and its new focus for rebranding is a new blockchain of its own, NELO Smart Chain (NSC). Scheduled to go live in Q3 2022, the NSC mainnet will have another 5 billion tokens in its native token supply, bringing the total NELO supply to 10 billion. Another half of the total supply is currently in the BSC.
At NSC, 4 billion tokens are reserved for PoS mining, for a total of 12 years, with mining supply halved in 4-year cycles. The other 1,000 million are reserved for future strategic investments or sales. After merging BSC with NSC, 3.75 billion tokens will be pre-mined and locked in NSC so that BSC holders can merge their BSC NELO tokens with NSC NELO tokens. The remaining 1.25 billion tokens are pre-mined and circulate on NSC.
NELO intends to further develop its blockchain network and help developers maximize its potential. The protocol is making plans to create a subchain implementer that will allow other games to build their chain using its technology.
It is also creating an on-chain verifiable random number function (VRF) that works on the NSC blockchain, its native Oracle solution that allows any game to interact with the use of NELO tokens and NFT standards for future games in the ecosystem. NELO.
It also plans to create an ecosystem fund to invest in games with potential, as well as developer support to help existing game developers implement their projects in its ecosystem. It will launch its centralized exchange (CEX) later in October and a launchpad for NELO in November 2022.
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This post NELO rebrands to become a major player in the metaverse
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