What is Terra Virtua?
Terra Virtua was designed to take non-fungible tokens (NFTs) to the next level by introducing an immersive experience where owners can interact with their collectibles. The NFT ecosystem can be found on multiple platforms, including a marketplace website along with applications on PC, mobile, and augmented reality (AR) and virtual reality (VR) environments.
The marketplace allows users to trade and buy NFTs, which also feature partnerships to provide Terra Virtua with a unique edge. There are now exclusive collectibles, including figures from the Netflix programmes Lost in Space and Pacific Rim: The Black. The prices for these range from $19.99 to $299.99 . There is even animated Beyoncé artwork from the Australian artist LA Migiotto going for $10,000.
Along with partnerships, Terra Virtua has created its own digital characters called vFlects. They can be bought on the marketplace, which vary in their rarity and design.
The system was developed to create social, gaming and creative experiences, and users can download an application to interact with the NFTs, which is available on PC and mobile. The app has an art gallery to display your collection as well as a Fancave and Terra Dome to show off other collectibles. Through this you can see the NFTs in 3D and via VR. There are also gamification aspects to Terra Virtua that involve using Terra Virtua Kolect (TVK), its own token. But what is Terra Virtual Kolect?
What is TVK coin?
The introduction of TVK coin was intended to reduce the transaction fee when buying the collectibles, but there are also more uses to the token. The first is Terra Virtua Prestige, which you can become a member of by staking TVK. The benefits of being a member include access to exclusive items, announcements through the townhall, and monthly random drops of NFTS and TVK coins. However, to start getting access to these features you must be holding at least 5,000 TVK. At its current price of $0.20 according to CoinMarketCap, that’s $1,000 worth of TVK.
There are also quests, competitions, and leader boards that have TVK rewards. This gamification layer was added to increase access to rewards using an interactive method in line with their mission objective.
Gary Bracey is the CEO of Terra Virtua and has experience in this field. He has been working in the games industry for more than 35 years. He worked at companies including Ocean Software and Digimask, before taking the leap into blockchain technology.
The final use of the TVK token is to create. By staking the coin, users gain access to tools that allow them to create their own 2D and 3D NFTs. These collectibles can then be used across the display platforms, like the art gallery and Terra Dome.
Terra Virtua Kolect coin launched on 16 December 2020 at $0.06 and its price history since then has been volatile. It stayed around the $0.10 mark in the first two months of 2021 and then hit its all-time high of $1.15 on 15 March. It fell back down to the $0.50 mark during May. Since then, the price of Terra Virtua Kolect has decreased even more. As of 11 October 2021, it was at $0.20.