Economy

Prime and Premium Currency Model

One foundational aspect for understanding the utility discussed in this document is understanding how the game economy is structured and why this structure is chosen.

The basis for our economic model is that money is how value is passed from one user to the next. The value consists of both objective and subjective aspects. Objective measures are time, energy, inventory volume, and personal measurements like creative appeal and aesthetics. Our financial system is designed to allow for trading value along all of those metrics.

The NetVRk metaverse will employ a dual currency model like other game economies. The first currency, Energy, is referred to as the “prime” currency, and is the currency a player receives for in-game action on a sliding scale based on the value that the act provides to the ecosystem. The second currency, NetVRk Coins, is the “premium” currency, and is a reward for specific selected in-game actions and can be purchased through fiat, $NETVR, or other token transactions.

Having this dual model allows for utility not available to single currency models. Items for purchase in Genesis Islands, such as avatar skins or building supplies, can be priced at either prime or premium levels. A player who puts a lot of time and effort into the world can expand their inventory by purchasing ‘prime’ items, while other players expand their inventory by adding fiat or $NETVR to the treasury to purchase ‘premium’ items. Content creators will also be able to price their work or services in either.

The key to this approach is that the development team will not be setting up any standardized exchange rate between 'prime' and 'premium' currency. If the player base determined an exchange rate, it would be by market forces under the influence of participants in the world.

The NetVRk team will release a more in-depth document outlining the intricacies of this system in the future. The rest of this document is geared towards the processes guiding rewards and costs for land and vehicles within the Genesis Islands. However, addressing this as soon as possible is critical to clarify for the community.