The metaverse has finally found a home in ongoing technology disruptions. Everything will transition to the virtual world in the next few years; from shopping to business meetings, metaverse will become the preferred destination for everyone. The world is gearing to adopt hyper-realistic visual experiences to represent themselves in avatars. Adding to this blockchain technology advancement, Lyca Nation (Lyca coin) has proposed in its Whitepaper to build a state-of-art virtual island dedicated to crypto enthusiasts.
The resurgence of Metaverse and its popularity reflects significant new technology advancements that many believe will see the metaverse transition from science fiction to our everyday reality. The emergence of 5G technology will increase the speed of adoption to run graphically loaded programs; one will require breakneck internet speeds at economical prices to attract the masses.
Lyca Nation is developing a real-world 7-acre island in Belize, which intends to qualify as a micronation. Lyca Nation crypto project is a blend of a real-world island and an island in the metaverse. “The metaverse has the potential to disrupt the content creation process fundamentally. Crypto enthusiasts certainly needed their own space in the Metaverse. This is the actual Web 3.0, and we are hopeful of uniting the entire crypto community through Lyca Nation,” said Rahul Kumar, Co-Founder of Lyca Nation.
Lyca Nation also plans to launch its level one blockchain called “Lyca Chain,” which will power various services, including crypto banking, crypto venture fund, cloud mining pools, real-world asset tokenization, blockchain university, crypto payment gateway, and a decentralized exchange. It is a virtual nation that plans to provide all the essential services to its e-citizens, who will be physically divided but digitally united. Content developers will build their applications over it as an open-source technology product.
The virtual reality of the Island is not only limited to free will and governance but also the green concepts like sustainability and carbon neutrality with innovative and future-driven economic growth. Lyca Island plans to be recognized by the United Nations in 24 months. “We plan to take all requisite steps to convert our micronation into a full-fledged nation supporting crypto banking and other advanced financial products,” adds Prashant Tandon, Co-Founder of the prestigious LYCA Nation project
Lyca Nation is the brainchild of Rahul Kumar, Sanchit Mehra, and Prashant Tandon. Lyca coins are currently trading on Pancakeswap and BitLux OTC exchange. The project is currently commanding a market capitalisation of US $150 million which the pundits believe will increase many times over depending on timely achieving its goals. Lyca Nation’s “white paper” talks about a futuristic world that will merge the physical world with the virtual world. Technically, Lyca Nation is the first island project in the metaverse.
“Lyca Nation is going to be the extension of the physical world into a boundary-less virtual world. In this virtual world, one will be able to choose an exotic location to meet with the body shape or colour of your choice, you will be an avatar with emotions in a digital space.” – adds Sanchit Mehra, co-founder of LYCA Nation.
Lyca Nation is also eyeing Initial Exchange Offering (IEO), similar to IPO on the Gate.io exchange. The company plans to raise the US $50-70 million to finance this futurist Micronation project in the Metaverse.