Orbcity (ORB) is a LandFi ecosystem native to the Polygon network, enabling the trading of LAND-based non-fungible tokens (NFTs). By merging decentralized finance (DeFi) and NFT gaming, Orbcity aims to foster financial inclusion within the metaverse. Users can leverage these digital assets on Orbcity to generate additional sources of income.
What is Orbcity?
Orbcity is a thriving metaverse that allows users to trade and delve into virtual universes. NFTs play a vital role within Orbcity's ecosystem, allowing users to explore and enhance districts in its decentralized world.
Orbcity operates on a dual-token system consisting of LAY and KlayCity (ORB) tokens to facilitate its economy. LAY tokens are generated through NFT minting and serve as virtual resources within the metaverse. These LAY tokens can then be exchanged for ORB tokens, which hold utility and governance functions within the Orbcity ecosystem.
The Orbcity team
The Orbcity team operates under a governance-based council system comprising 12 anonymous entities. The community selects These individuals through the governance system and receives rewards and salaries from Orbcity's governance treasury.
Council members can be nominated by District NFT holders and landlords within the metaverse. As mentioned in the official Orbcity whitepaper, the team lead is Jake, who has previous experience as an advisor to Sandbox Games.
How does Orbcity work?
Orbcity operates as a metaverse platform, allowing users to acquire NFTs such as districts, lands, and other entities within its virtual world. These NFTs can be upgraded and traded as desired. The primary token within the ecosystem is LAY, which can be considered an in-game or in-metaverse token. LAY tokens can be mined and are used for various purposes within the metaverse.
One significant function of LAY tokens is their exchangeability for ORB tokens. ORB tokens hold voting power and offer additional utility, such as upgrading districts within Orbcity. This combination of gaming and financial elements blurs the boundaries between NFTs, metaverse experiences, and DeFi, providing users with both recreational and financial benefits within the Orbcity ecosystem.
Orbcity’s native token: ORB
Orbcity's native token, ORB, plays a central role in its dual-token economy. ORB provides governance benefits, allowing token holders to participate in decision-making processes and shape the platform's future development. Additionally, ORB tokens can upgrade virtual resources within the Orbcity metaverse, enhancing the overall user experience.
While Orbcity has migrated to the Polygon (MATIC) network, ORB tokens adhere to the ERC-20 standards. This compatibility ensures that ORB tokens can be securely stored and efficiently managed using various wallets.
ORB tokenomics
ORB tokenomics are designed with a 1 billion ORB tokens hard supply cap. Currently, only 13 percent of the total token supply is in circulation.
How to stake ORB?
While information regarding staking ORB tokens is limited, the ORB official whitepaper suggests that ORB tokens can be staked by locking them in smart contracts, which may offer incentives as a reward for participation.
ORB use cases
ORB tokens serve multiple use cases within the Orbcity ecosystem. Firstly, they grant holders the ability to participate in the governance model of Orbcity, enabling them to exercise voting rights and contribute to decision-making processes.
Additionally, ORB tokens can be utilized to upgrade districts and play a vital role in managing various operations within the ecosystem. Furthermore, ORB tokens can be exchanged for LAY tokens, which are used for in-game transactions and interactions within the metaverse.
ORB token distribution
Although the project doesn't explicitly disclose detailed token distribution, ecosystem insights suggest the following allocation:
- 44 percent of the tokens were distributed via mining rewards
- 18 percent of the tokens were allocated to the project's core team
- Another 18 percent of the tokens were distributed to early supporters
- 7 percent of the tokens were set aside to support the project's ecosystem
- 6 percent of the tokens were allocated for marketing initiatives
- 4 percent of the tokens were set aside to incentivize liquidity providers
- 2 percent of the tokens were reserved for a development fund
- 1 percent of the tokens were allocated to support liquidity provision
Orbcity: Redefining metaverse games
Orbcity (ORB) is revolutionizing the concept of metaverse games by integrating NFTs and DeFi, transforming metaverses into decentralized finance hubs. The project has gained notable partnerships with industry-leading brands such as Naver Z, Animoca Brands, AT&T Capital, Magic Eden, Huobi, and more. With a strong emphasis on the creator economy, Orbcity supports storytelling and content creation, providing all the essential elements to redefine the landscape of metaverse and blockchain gaming.
