Section 1: Preface
The digital economy is the future direction of global economic development,emerging as a pivotal force in restructuring global resources, reshaping the world's economic framework, and transforming the competitive global landscape. As technology advances rapidly and digitization accelerates, concepts such as blockchain technology, asset digitization, and the metaverse are increasingly becoming focal points of global interest. Vcity, as a Web3-based cross-chain social finance metaverse, encompasses blockchain technology, decentralized social finance, asset digitization, and the metaverse. It aims to leverage global regional cultures as a platform to establish a worldwide virtual economy.
Vcity's Mission: Leveraging cutting-edge technology and innovative thinking, we aim to utilize global regional cultures as a platform to establish a global virtual economy. Our mission is to actively disseminate human culture worldwide.
Vcity's Vision: By establishing a global virtual economy using global regional cultures as the medium, we aim to create a highly inclusive, globally connected cross-chain social finance metaverse. Furthermore, our efforts are directed towards fostering global economic prosperity.
Section 2: Global Digital Economy Trends
2.1 Global Trends in Asset Digitalization
2.1.1 Trends
Currently, the global digital economy is experiencing robust growth and has become a critical engine driving global economic expansion. Moreover, the development of global legal digital currencies is advancing rapidly. Regardless of the underlying economic and regulatory frameworks, the trend towards digitalization is irreversible, unstoppable, and accelerating. Traditional and existing transactions will increasingly be conducted using digital currencies, enhancing the digitization of industries and assets significantly. This indicates that asset digitalization is on a rapid upward trend, simultaneously providing a continuous stream of vitality for the development of the digital economy.
2.1.2 Data
Digital assets are non-monetary assets in electronic data form, owned or controlled by enterprises or individuals, held for sale or in the production process during regular activities. Although digital assets have not yet fully integrated into mainstream life, data indicates that they are among the fastest-growing assets in the world over the past decade. Their market value was only around 10 billion USD in 2014, but by early 2022, it had surged to approximately 2.3 trillion USD.
According to research by Boston Consulting Group, the global scale of real-world asset tokenization is expected to grow to $16.1 trillion by 2030 (projected to account for about 10% of the global GDP). This includes $3.2 trillion in real estate tokens, $3.9 trillion in equity tokens, $1.2 trillion in debt and investment fund tokens, $3 trillion in alternative financial asset tokens, and $4.8 trillion in other tokenized assets.
Citibank predicts that by 2030, the global scale of real-world asset tokenization (digital securities segment) will reach between $4 trillion to $5 trillion. This includes $1.9 trillion in tokenized corporate and quasi-sovereign bonds, $1.5 trillion in tokenized real estate funds, $700 billion in tokenized private equity and venture capital funds, and between $500 billion to $1 trillion in tokenized securities financing and collateral. Additionally, $1 trillion in global trade finance assets is expected to be tokenized.
2.2 Global Blockchain Technology Development Trends
Blockchain technology, as an innovative distributed ledger technology, is characterized by its decentralization, security, and transparency. In recent years, it has been widely applied across multiple sectors globally, with notable prominence in finance, healthcare, energy management, intellectual property protection, and transportation logistics. Despite the broad prospects for blockchain technology application, there are challenges and issues related to the unification of technical standards, the perfection of legal regulations, and the protection of personal privacy. Therefore, while promoting the widespread application of blockchain technology, it is also necessary to strengthen technological research and development and regulatory framework construction to ensure the healthy and orderly development of blockchain technology.
2.3 Global Metaverse Development Trends
2.3.1 Trends
Currently, the global metaverse is in a rapid development phase. Forbes Bi-Weekly has indicated that by 2030, the global market size of the metaverse could reach as high as $5 trillion. As an emerging field, the metaverse holds vast developmental prospects and substantial market potential, poised to become a significant engine for future economic and social development.
The global development trends of the metaverse can be summarized as follows:
(1)The global metaverse has garnered attention from governments and international organizations worldwide, prompting them to formulate related policy frameworks. As a crucial trend in the deep development of the future digital economy, governments, businesses, and research institutions are also strengthening cooperation to advance the research, development, and application of metaverse technologies;
(2)Major global technology companies, the global financial sector, the fashion industry, and various enterprises and institutions have all made strategic moves into the metaverse domain, launching a series of innovative products and services;
(3)Global metaverse companies are intensifying their research, development, and innovation in virtual reality technologies to enhance the immersive and interactive experiences across various application scenarios within the metaverse;
(4) With ongoing technological advancements and the gradual maturation of the market, the metaverse is expected to achieve broader applications in the coming years. For instance, it holds potential for extensive use in fields such as culture, education, healthcare, office work, and entertainment.
2.3.2 Data
(1) Global Metaverse Policy Frameworks
a. In July 2022, the Congressional Research Service (CRS) of the United States released a research report titled "The Metaverse: Conceptual Implications and Considerations for Congress," summarizing the three core technologies supporting the development of the metaverse: virtual reality, 5G/6G, and blockchain;①
b. In early 2023, China's Ministry of Industry and Information Technology proposed to proactively plan for future industries, accelerating the deployment in frontier areas such as the metaverse;①
c. The Financial Services Agency of Japan, in collaboration with cryptocurrency platforms such as FXcoin and CoinBest, has set a development goal to transform Japan into a leading nation in the metaverse. This initiative includes the construction of large-scale market infrastructure;②
d. The South Korean government has explicitly launched the "Metaverse Five-Year Plan" and announced that starting in 2022, it will dedicate efforts in three phases to develop a metaverse ecosystem for administrative services.②
(2) Other Global Metaverse Applications③
a.Metaverse company (Meta) has created its own virtual reality social platform, launched virtual reality headsets, and developed photorealistic technology, enabling people to create their own virtual avatars in the virtual world;
b.Companies such as Apple, Google, and Microsoft have released VR/AR/MR headsets;
c.A technology company in the United States has developed a method to integrate scents into virtual reality.
Annotation①Source:【中国信息通信研究院、虚拟现实与元宇宙产业联盟】http://www.caict.ac.cn/kxyj/qwfb/bps/202311/P020240326626098688125.pdf
Annotation②Source:【中国首席经济学家论坛《学术研究》2023年第8期 • 张明等元宇宙：概念特征、发展现状及经济影响】https://baijiahao.baidu.com/s?id=1775487676894281571&wfr=spider&for=pc
Annotation③Source:【国际科技创新中心官网 • 《2023年元宇宙领域四大趋势》】https://www.ncsti.gov.cn/kjdt/ztbd/xzjj/szjjrc/yyz/202212/t20221207_104163.html
Section 3: About Vcity
3.1 Definition and Significance of Vcity
3.1.1 Definition of Vcity
Vcity is a cross-chain social finance metaverse built on the Web3 framework, forming a virtual economy.
3.1.2 Significance of Vcity
In Roman numerals, "V" stands for "five";
"V" represents "Virtual", indicating the concept of a virtual city;
"V" also stands for "Voice", symbolizing that the platform is composed of diverse voices from global users, where each voice is heard;
Additionally, "V" represents "Value", suggesting that Vcity will carry significant value in the future.
Vcity is a cross-chain social finance metaverse built on the Web3 foundation, representing a highly inclusive decentralized virtual economy.
Firstly, Vcity is constructed on cutting-edge underlying technologies, including blockchain, distributed storage, and cryptographic algorithms. It currently facilitates cross-chain interactions with the eight major mainstream public blockchains globally. Its payment and authorization systems will encompass all the aforementioned public chains, with potential expansions to more public chain interactions in the future.
Secondly, AI computation plays a pivotal role in Vcity, employing advanced artificial intelligence algorithms and models to provide robust intelligent support for the platform.
Thirdly, the Vcity public blockchain is set to launch soon. Upon its release, all data on the platform will operate on Vcity's public blockchain, with power decentralized across the nodes of the public chain.
Fourthly, the way Vcity is accessed is inclusive; currently, it is available as a standard web version and a mobile app version. In the future, other platforms will be added as needed, and both Chinese and international versions will be launched to comply with the varying policies of different countries and regions.
Lastly, Vcity users are not only participants on the platform but also co-owners of it. Vcity adheres to the principles of decentralization, centers around a user credit system to establish a DAO community, and promotes a philosophy of collective consultation, construction, and sharing. This ensures that every contributor to Vcity receives appropriate rewards.
Vcity, as a cross-chain social finance metaverse virtual economy based on Web3, is positioned as follows:
(1)Vcity is expected to offer a more open, secure, transparent, and autonomous social experience through characteristics such as decentralization, data privacy, incentive mechanisms, and disintermediation. This aims to address some of the issues present in current Web2 platforms.
(2)Vcity will leverage advanced technology and innovative thinking to align with the trend of the digital economy driving traditional financial development. Utilizing the decentralized nature of Web3 technology and the features of smart contracts, Vcity aims to resolve existing issues in the traditional financial sector. It will provide a more open, social, and inclusive financial experience, fostering the development and inclusivity of finance.
(3)Vcity will use cutting-edge technological methods, the power of innovative technology, and new models to provide traditional physical industries with new development opportunities. In time, physical industries from around the globe will be able to set up in Vcity, becoming part of the local offline ecosystem, the dB Shopping Mall, or Vcity Pick.
(4) Vcity will utilize global regional cultures as carriers, promoting intercultural communication, exchange, cooperation, and innovation worldwide. This will foster global cultural integration, thereby creating a broadly inclusive virtual economy and serving as a new card for world cultural exchanges.
The core values of Vcity are centered on the principles of collective consultation, construction, and sharing, with connections that are interactive, interconnected, and interoperable, alongside an economic model based on data tokenization on the blockchain. These values aim to achieve consensus, co-construction, co-governance, and shared success.
Section 4: Vcity Virtual Economy
4.1 Social Finance
4.1.1 Overview of Social Finance
4.1.1.1 Definition of Social Finance
In Web3, social finance refers to a new financial model that integrates social networking with financial services. Traditional financial services are typically provided by banks, financial institutions, or merchants, such as user-to-user transfers. However, social finance leverages the decentralization of Web3 technology and the features of smart contracts, enabling people to participate in and enjoy various financial activities through social networks.
In the context of Web3 social finance, social networking platforms can act as gateways to financial services. Users can create personal profiles, connect with friends and followers, and engage in financial transactions and collaborations with other users. This model provides a more personalized and social financial experience through the networks of relationships and trust established on social networking sites.
Some common applications of social finance include:
(1)Social Payments: Users can make quick and convenient payments and transfers through social networks, such as paying friends via social media platforms, tipping speakers, and giving red envelopes in communities.
(2)Social Lending: Users on social networks can lend to each other, building trust relationships and lending histories. Smart contracts can automatically execute lending agreements to ensure safety and reliability.
(3) Social Investing and Trading: Users on social networks can share their products, investment portfolios, trading strategies, and market insights, facilitating communication and tracking with other users. Such interactions promote information sharing and community collaboration.
4.1.1.2 Problems Addressed by Social Finance
(1) Decentralization: Web3 platforms advocate for decentralization, meaning that the platform is not controlled by a single entity but is driven by a decentralized network and smart contracts. This characteristic of decentralization can increase transparency, credibility, and security, reducing reliance on intermediary institutions.
(2) Data Privacy: On Web2 platforms, users" personal data is often centrally stored and controlled. In contrast, Web3 platforms use blockchain and encryption technologies to grant users ownership and control over their own data. Users can decide which data to share with the platform or other users, thus enhancing the protection of personal privacy.
(3) Incentive Mechanisms: Web3 platforms often adopt a token economy model, incentivizing users to participate in the building and operation of the platform. Such incentive mechanisms can encourage users to contribute content, participate in community governance, and enjoy the benefits of the platform's success.
(4) Disintermediation: Traditional Web2 social platforms often involve intermediary institutions, such as advertisers and data brokers. Web3 platforms, by leveraging smart contracts and decentralized features, can directly connect users and content creators, reducing intermediaries, thereby increasing efficiency and fairness.
In summary, Vcity, as a cross-chain social finance metaverse virtual economy based on Web3, aims to offer a more open, secure, transparent, and autonomous social experience through features like decentralization, data privacy, incentive mechanisms, and disintermediation. This is expected to address some of the issues inherent in current Web2 platforms.
4.1.1.3 Media Advantages of Social Finance
(1) Decentralization: Web3 social finance media is typically built on decentralized blockchains or distributed networks, with no central controlling authority. This means users can interact directly with each other without intermediaries or third-party platforms, enhancing the efficiency and security of disintermediation.
(2) Privacy and Ownership of User Data: Traditional social media platforms often collect and control vast amounts of personal data from users. In contrast, Web3 social finance media typically employs encryption technologies and blockchain to protect the privacy and ownership of user data. Users have better control over their data and can choose to share or sell their information to other users, thereby gaining economic benefits.
(3) Incentive Mechanisms: Web3 social finance media often incentivizes user participation on the platform and provides economic rewards for their contributions. Users can earn rewards by creating valuable content, sharing insights, and participating in community governance. This incentive mechanism encourages greater user engagement and improves the quality of content.
(4) Ad-Free Model: Traditional social media platforms typically rely on advertising revenue, which leads to significant ad clutter and misuse of user data. Web3 social finance media, through incentive mechanisms and disintermediation features, can reduce reliance on advertising, offering a clearer and cleaner user experience.
(5) Community Governance: Web3 social finance media often adopts a community governance model, allowing users to participate in decision-making and the direction of platform development. This model promotes user engagement and a sense of belonging, motivating users to contribute to the platform's development and collectively share in its success.
4.1.1.4 Significance of Vcity in Shaping Existing Economic Forms
(1) Decentralized Finance: Vcity can implement decentralized financial services using smart contracts and blockchain technology. This allows users to directly engage in financial activities without relying on traditional financial institutions as intermediaries. Decentralized finance can reduce transaction costs, increase transparency, and provide more people with opportunities to access financial services.
(2) Socialized Financial Experience: Vcity integrates social interactions with finance, offering users a more socialized financial experience. Users can share and exchange financial knowledge, experiences, and perspectives with others on the platform, collectively exploring investment opportunities and strategies. This type of socialized financial communication fosters learning, collaboration, and mutual support, enhancing the overall capabilities and wisdom of financial participants.
(3) Disintermediated Financial Services: Traditional financial systems are populated with various intermediary institutions, such as banks, brokers, and payment providers. Vcity, as a disintermediated financial platform, can directly connect users with financial products or service providers through smart contracts and blockchain technology, reducing intermediaries, and enhancing efficiency and transparency. This provides users with more convenient and cost-effective financial services.
(4) Financial Inclusivity: As a Web3-based financial platform, Vcity can offer financial services to a broader audience. Traditional financial systems often have barriers and restrictions that prevent some people from accessing necessary financial services. By leveraging the decentralized and social characteristics of Vcity, it can lower the barriers to entry and offer inclusive financial services to more people, promoting equitable wealth distribution.
Vcity, as a cross-chain social finance metaverse virtual economy based on Web3, can drive decentralized finance, socialized financial experiences, disintermediated financial services, and financial inclusivity within the current economic landscape. It provides users with a more open, socialized, and inclusive financial experience, fostering the development and widespread accessibility of financial services.
4.1.2.1 On Decentralized Community Governance
(1) Concept of Decentralized Autonomous Organizations: In Web3, a DAO (Decentralized Autonomous Organization) represents an innovative organizational form that uses blockchain technology and smart contracts to achieve decentralization and autonomy.
(2) Decentralized Organizational Structure: A DAO is a decentralized organizational structure without traditional central authorities or centralized management. Decision-making and management powers are distributed among all participating members, with each member having an equal say.
(3) Blockchain Technology-Based: DAOs utilize blockchain technology, especially smart contracts, to establish transparent and immutable rules and operational mechanisms. Smart contracts are automatically executed, ensuring that operations within the organization comply with pre-set rules.
(4) Voting and Governance: The process of member participation in decision-making is typically facilitated through voting. Each member can express their opinions on various issues based on their "credit value" holdings or other voting weights. In this way, DAOs achieve consensus-based autonomy and governance.
(5) Rewards and Incentive Mechanisms: To encourage active participation in the DAO, incentive mechanisms are established, offering token rewards or other forms of returns to promote member involvement and contribution.
(6) Transparency and Publicity: All operations of a DAO are recorded on the blockchain and are accessible to anyone, ensuring transparency and public visibility. This transparency helps build trust and reduces potential corrupt practices.
(7) Voluntary Participation: Participation in a DAO is voluntary; members can freely choose whether to join, leave, or participate in the decision-making process. This openness and freedom are key characteristics of DAOs.
Vcity, as a comprehensive platform, is dedicated to providing all-around support for all Web3 builders, assisting them in constructing the necessary infrastructure for the Web3 ecosystem. This support includes, but is not limited to, domain registration, technical consulting, marketing promotion, and long-term operational support.
Sky Verse is one of Vcity's innovations, a comprehensive ecological platform specially designed for users to showcase themselves.
Sky Verse acts as a user's personal website within Vcity, yet it transcends the traditional notion of personal websites, offering a microcosm that showcases all the sectors a user engages in within Vcity. As a crucial application in the Vcity ecosystem, Sky Verse provides a convenient gateway for Web3 participation. By logging into Vcity, users automatically receive a platform identity ID, unlocking comprehensive ecosystem benefits and services. For instance, a user's articles, videos, products, all assets within the metaverse, and personal broadcasts in Between streaming media can be directly displayed on Sky Verse. Moreover, users can easily manage their Sky Verse, such as changing usernames, uploading personal profiles, and sharing thoughts and life snippets anytime, anywhere, similar to using social platforms like Facebook, WeChat, YouTube, X, and TikTok.
Additionally, users who hold Genesis NFTs and have passed KYC verification can obtain exclusive top-level domains and possess their own unique spaces in the metaverse.
In summary, Vcity aims not only to create a closed-loop metaverse for the platform but also to nurture the personal microcosms of each individual.
Users meeting the following criteria may apply to become a spokesperson. Upon approval, their contributions will be featured on the platform's homepage, visible to all users. Spokespersons enjoy significant advantages such as special rewards and preferential traffic allocations bestowed by Vcity.
(1) Must have a credit score of no less than 3000;
(2) Must either hold 2 Genesis NFTs and at least 10 Voice NFTs concurrently, or possess 5 KYC NFTs and at least 10 Voice NFTs concurrently;
(3) Must highly recognize Vcity and possess significant influence in a specific field;
(4) Must have published five or more high-quality original works on Vcity or other blockchain platforms;
(5) Must possess a high level of ideological awareness and a strong sense of social responsibility, refraining from publishing negative or platform-rule-violating content, and should guide users appropriately;
(6) Must have no violations or adverse records in the Vcity credit history.
Of course, every user in Vcity is a unique spokesperson, and their articles will be featured in a rotating display on the homepages of various sections (Partners, Digital Citizens, Users), visible to all users.
GPT Q&A is a section established for the vast user base of Vcity, designed to address inquiries and resolve issues. This section incorporates AI technology, which enables immediate responses to questions. Additionally, Vcity users can also provide answers in this section, with rewards granted for their first response.
Users have the ability to create their own communities, join their own groups, or become part of other communities. By clicking on "Messages" at the bottom of the homepage, users can access the chat interface, where they have the option to engage in group chats or private conversations.
Users can extend their offline clubs to the Vcity platform, making their offline clubs known to the entire community and attracting more local users to join.
4.1.2.7 Direct Advice Channel
Partners holding Genesis NFTs, who have constructive opinions and suggestions for the development of Vcity, can express their views in the Direct Advice Channel section. The core team arranges for dedicated personnel to be on 24-hour duty to collect and summarize valuable suggestions. This ensures effective communication between the project team and the partners and reinforces the active engagement of all partners, embodying Vcity's philosophy of "co-consultation, co-construction, and co-sharing."
News can be published by clicking on the scrolling screen on the homepage.
Users can tip their favorite articles in the homepage article section using digital assets, including articles from spokespersons, partners, digital citizens, and users. Additionally, the tipping feature is unrestricted, allowing users to tip at any time and from anywhere.
4.1.2.10 Red Envelope Feature
Users have the capability to send and receive digital asset red envelopes in any social module, including clubs, communities, offline ecosystems, regional platforms, and the bottom message bar of the homepage. These red envelopes can be sent either privately or to groups.
4.1.2.11 Internal Transfer Feature
Users can conduct internal transfers of digital assets via the message bar at the bottom of the homepage. Transfers can be made privately or designated to a specific member within a group.
This section is applicable to all users who possess a web3 wallet in regions where the use of digital wallets is legally permitted.
The NFT section of Vcity is divided into two parts:
(1) Platform Productions
Platform-produced NFTs refer to those launched on the VcityApp trading platform, featuring art that represents various global cultural systems. These NFTs are designed by the platform's Art Director and are available for sale globally. The first release is the Chinese Guochao series NFTs, with future releases to include art NFTs from different cultures, such as Russian cultural art NFTs, French cultural art NFTs, etc.
NFTs launched by the platform hold not only financial value but also added benefits, such as bonus points acquisition, anniversary event tickets, entry tickets to various metaverse scenes, and can also represent specific rights on the platform, such as access to special features or discounts.
The platform has currently issued three types of NFTs: Genesis NFT, KYC NFT, and Voice NFT.
a.Genesis NFT
Holders of the Genesis NFT enjoy the following benefits:
Bonus points acquisition;
Top-level domain ecosystem;
Priority operating rights for offline chain stores;
Direct Advice Channel;
Partner medal.
b.KYC NFT
Holders of the KYC NFT enjoy the following benefits:
Instant recognition as a digital citizen of Vcity;
Users with a credit score above 20 can directly access the KYC channel;
Permanent bonus to points acquisition (the KYC NFT points bonus is approximately half that of the Genesis NFT, subject to variations based on market distribution ratios);
KYC NFT medal.
c. Voice NFT
Holders of the Voice NFT enjoy the following benefits:
The right to transfer;
Copyright, with the Voice NFT copyright belonging to the original holder, and a 5% royalty on each transaction;
Holders of Voice NFTs become co-owners of the platform.
(2) Partner Productions
As required by Vcity's strategic development, Vcity may launch a series of NFTs produced in the name of its partners during specific periods.
4.1.3.2 Token Issuance – dB
dB is derived from the destruction of Voice NFTs and serves as the platform token for Vcity. It is a digital asset based on cryptographic technology, secured by blockchain and other distributed ledger technologies for safe transactions and record-keeping. As part of the Vcity platform's economic model, dB aims to support and incentivize user participation and usage.
Before dB is on-chain, "attention accumulation" is a key feature for earning dB. This means users earn platform tokens by contributing their attention, with a distribution method based on the principle of "more work, more reward." Once dB is on-chain, it can be purchased through the Vcity dB trading market or major exchanges.
dB can be utilized for the acquisition of goods or services. Additionally, dB can be employed across various application scenarios within the Vcity ecosystem. Users holding dB are better positioned to participate in the construction and development of the Vcity ecosystem.
4.1.3.3 Digital Asset Trading Platform
The Vcity Digital Asset Trading Platform is a decentralized digital asset internal circulation market based on Web3 technology, designed for Vcity users. It encompasses multiple sections including the "NFT Market" trading platform, NFT lending platform, NFT staking platform, and dB trading market. These sections operate through smart contract automation, providing various methods and safeguards for the circulation of digital assets.
(1) "NFT Market" Trading Platform
The "NFT Market" is an NFT trading platform independently developed by Vcity, located on the main page of the app. Users can conduct various types of NFT transactions at any time in the NFT Market, enjoying the autonomy to set their own prices and adjust them along with the quantities as desired.
Each transaction in the "NFT Market" is stored in the blocks of a smart contract. Currently, Vcity's digital assets are temporarily hosted on the Polygon public blockchain, with plans to transition directly to Vcity's own public blockchain in the future.
(2) NFT Lending Platform
a. NFT lending is one of Vcity's innovations in the decentralized finance sector. Lenders earn corresponding dB profits by listing their NFTs on the lending market. Borrowers, during the rental period, obtain the pledge rights of the NFT and other rights associated with the NFT, excluding bonus points acquisition, such as increased limits for listing products, KYC certification eligibility, and decentralized management permissions;
b. The lending period is set at the discretion of the user. However, once a loan agreement is in effect, it is automatically executed by a smart contract and remains so until the end of the lending period, after which the NFT can be retrieved.
(3) NFT Staking Platform
a. NFT staking is another innovation by Vcity in the decentralized finance sector. Users who stake a specified amount or more of NFTs can obtain corresponding merchandise listing quotas. The staking does not affect the bonus points acquisition benefits, but other rights are frozen during the staking period;
b. During the staking period, users can retrieve their NFTs at any time. However, if the staked NFTs fall below the specified amount, all listed merchandise is automatically delisted. If the NFT staking meets the specified amount but the listed merchandise exceeds the quota, the excess merchandise will automatically be delisted;
c.Current Staking Rules
The purpose of staking is to regulate the behavior of sellers in the dB Shopping Mall, protect buyer rights, enhance seller credibility, and promote the healthy development of the Shopping Mall.
NFT Staking Rules:
Genesis NFTs and KYC NFTs continue to generate computational power even while staked;
Only by staking 1 Genesis NFT, 1 KYC NFT, or 10 or more Voice NFTs can merchandise be listed;
If the staked amount falls below the merchandise listing quota during the retrieval of NFTs, all merchandise will be automatically delisted.
NFT Staking Quotas:
The staking quota for one Genesis NFT is 10,000 dB;
The staking quota for one KYC NFT is 5,000 dB;
The staking quota for one Voice NFT is 100 dB.
Credit Score Bonuses:
When the credit score exceeds 1,000, the staking quota is multiplied by 1.3;
When the credit score exceeds 2,000, the staking quota is multiplied by 1.5;
When the credit score exceeds 3,000, the staking quota is multiplied by 1.8;
When the credit score exceeds 5,000, the staking quota is multiplied by 2.
(4) dB Trading Market
The dB Trading Market is a dB trading platform independently developed by Vcity, located on the main page of the app. Users can conduct dB transactions at any time in the dB Trading Market, enjoying the autonomy to set their own prices and adjust them along with the quantities as desired. Trading dB on the Vcity platform does not incur any Gas fees for the seller.
Each transaction in the dB Trading Market is stored in the blocks of a smart contract. Currently, Vcity's digital assets are temporarily hosted on the Polygon public blockchain, with plans to transition directly to the Vcity public blockchain in the future.
(1) dB Shopping Mall
a.The Vcity dB Shopping Mall is also a decentralized barter platform based on Web3 technology and represents one of Vcity's innovations;
b. Users can become merchants by staking the specified quota of NFTs. Detailed staking rules can be found in section 【4.1.3.3】 concerning NFT staking;
c. Users can also become merchants by borrowing the specified quota of NFTs from the lending market. Detailed lending rules can be viewed in section 【4.1.3.3】 concerning NFT lending;
d. The method for merchants to post products is similar to posting on social media timelines, with their shops being closely linked to their personal social pages. Additionally, merchants benefit from the shared traffic gains across Vcity;
e. Merchants listing food products must pass KYC verification;
f. Surprise Feature. The dB Shopping Mall also incorporates a "surprise" barter section, where users can list and trade unused items. This section serves as a marketplace for second-hand goods.
(2) Vcity Pick
Vcity Pick is positioned as a mid-to-high-end market within the development plan of Vcity's dB Barter platform. The establishment of this section aims to promote the efficient circulation of dB and enhance merchant engagement. By offering high-quality products as its core competitive edge, it strives to provide consumers with a unique shopping experience. Through the efforts of the Vcity project team, it ensures a degree of capital recirculation for merchants. Together with all merchants and users, it aims to build a professional, standardized, and efficient decentralized barter platform.
a.Selecting high-quality merchants and sources of goods;
b.Platform incentive mechanisms and promotional plans;
c.Management of the Vcity Pick Supply Chain.
(3)Offline Ecosystem
As a cross-chain social financial metaverse virtual economy based on Web3, Vcity has already reached a user base of over 1 million. It aims to provide a new development opportunity for the real economy through cutting-edge technology, innovative technological power, and a novel model. In the future, physical industries from various countries and regions around the world can join Vcity and become part of the local offline ecosystem.
4.2 Data Center
4.2.1 About the Data Center
Vcity's data center is a core component of its information technology infrastructure, primarily used for processing, storing, and managing data. The data center serves as a centralized location for data handling, equipped with high-performance servers, storage devices, and other facilities to provide stable and efficient data support for Vcity's various applications. Additionally, the Vcity data center is outfitted with advanced security facilities and strict access procedures to ensure data security, preventing data breaches, misuse, and unauthorized access.
Currently, the Vcity data center provides users with access to transaction record queries such as smart contract codes, dB transfers, staking rankings, and merchant order sales rankings, offering strong support for Vcity's stable operation and ongoing development.
4.2.2 Smart Contracts
Smart contracts are codes written on the blockchain that automatically execute once a specific event triggers the terms within the contract. This means that the execution occurs when conditions are met, without the need for manual intervention.
Vcity has established smart contract mechanisms across multiple sectors. These contracts automatically execute, verify, and manage digital assets and transactions, allowing users to conduct secure and trustworthy transactions without the need for third-party intervention.
Some of the smart contract addresses for Vcity are as follows:
(The smart contract addresses will continue to be updated as per the developmental needs of Vcity.)
4.2.2.1 Contract Owner Smart Contract Address (New)
0x00d13778C76831f260adeC9A3f4C100663555555
4.2.2.2 Contract Owner Smart Contract Address (Old)
0xfa71997A43665baFa29D38056D7Ec2034738f9e2
4.2.2.3 dB Smart Contract Address
0x76B6bFFd69D0568756fa4B30ab07B0445d0D888f
4.2.2.4 Voice NFT Smart Contract Address
0xf1d8cab953241a635787ab54b924ad66ab2d5705
4.2.2.5 Genesis NFT Smart Contract Address
0x7b24B64A306ED8D57bdb19B7D1c8a0Cc02594665
4.2.2.6 KYC NFT Smart Contract Address
0x5d49DA152714857D3bE99E6B03067e867C66BA55
4.2.2.7 Barter Smart Contract Address
0xaF666c7Cb8A52E585Bdb23B732b8c217FE18175e
4.2.2.8 Staking Smart Contract Address
0x9960dFE37283a69E43AAba87f91d161694151779
4.2.2.9 Lending Smart Contract Address
0xfdeF44A12D7C45A3858d456719A60A6cb0BFC55c
4.2.2.10 dB Trading Center Smart Contract Address
0xe20E39723eB04D6e0f8f6C54A2b4667Bf798B7A7
4.2.2.11 Metaverse Staking Contract Address
0xb3f67a9306F659166662cf285D8f915EDef5377C
4.2.2.12 Metaverse Order Smart Contract Address(Old)
0x2F7Ea95DD8443042B23aDb74836A64a764502557
4.2.2.13 Metaverse Order Smart Contract Address(New)
0xA6780514160dFa7B47bFC2469FE9C825950E02cf
4.2.2.14 Metaverse Land Parcel Smart Contract Address
0xab27dB32AEfba4d69e27177a4CD0734B6D1a1717
4.2.2.15 Metaverse House Smart Contract Address
0xB176c21D6b66D2Fe1B0e7C697610163D28000A65
4.3 Metaverse
4.3.1 Definition of the Metaverse
The metaverse is a virtual digital world that exists parallel to our real world. It is a concept based on computer technology and virtual reality, designed to create a vast, diverse, and highly interactive virtual environment.
In the metaverse, individuals can engage in virtual interactions, explore virtual spaces, participate in virtual economies and social activities, and even engage in creation and development.
The metaverse is typically composed of a vast array of digital content, virtual reality, augmented reality, and artificial intelligence technologies. It may include various virtual landscapes, role-playing, social networking, gaming, virtual economic systems, and other virtual experiences.
The goal of the metaverse is to provide an immersive experience, enabling users to engage in interactions and experiences distinct from the real world. Many sections of Vcity are miniaturized versions of the metaverse, such as the decentralized management center, jury system, cloud community, and communities on various public blockchains, all of which are specific implementations of the metaverse.
4.3.2 Layout of the Vcity Metaverse
(1) The Vcity metaverse will feature 88 virtual floating islands and 99 virtual cities, each conducting elections for one island leader and one city mayor respectively. Rules for each election cycle will be established prior to the elections. Upon successful election, the island leaders and city mayors will have the authority to manage and operate their respective virtual floating islands and cities. They will enjoy all the dividends from digital transactions generated within their areas and will also bear the corresponding risks.
Annotation：The management rights for virtual floating islands and virtual cities can be transferred within the rules set by the platform.
(2) Digital Museum (see clause 4.5) and cultural centers will be hosted within the Vcity metaverse. They will offer for sale NFTs or memorabilia that correspond to actual cultural artifacts, which can be purchased globally using dB or other digital assets.
(3) Vcity Love Verse (see clause 4.6) will also be integrated into the Vcity metaverse, serving as a three-dimensional, interactive social platform.
4.3.3 Application Scenarios
4.3.3.1 Virtual Social Interaction
The Vcity metaverse allows users to create personalized virtual avatars and engage in interaction, communication, and creation. Users can connect and communicate with others in the virtual space anytime and anywhere, breaking the limitations of geography and time. This mode of interaction not only enhances the social experience for users but also promotes the collision and integration of different cultures on a global scale.
4.3.3.2 Virtual Commerce
In the Vcity metaverse, users can create virtual shops to showcase and sell their products or services. Transactions can be conducted in the virtual space, enabling seamless integration between online and offline activities. Additionally, the metaverse can serve as a promotional platform for users, aiding in the broader dissemination of their brands. The metaverse also offers a space for innovative and creative endeavors, allowing users to engage in activities such as creative design and virtual experiments. This provides more possibilities for innovation in the real economy and introduces new models and opportunities for commercial activities.
The metaverse possesses a closed-loop macro-industrial chain from the production to the consumption of virtual items, thereby forming an independent economic system with virtual goods as the main objects of trade.
4.3.3.3 Virtual Office
The Vcity metaverse offers users an immersive virtual office experience. Users can create virtual offices within the metaverse, enabling real-time communication, collaboration, and meetings with colleagues. Virtual offices can enhance work efficiency and flexibility while reducing commuting time and costs.
4.3.3.4 Cross-Industry Integration
The application of the Vcity metaverse in the medical field can bring revolutionary changes. It provides doctors with a highly realistic virtual surgery environment, allowing them to simulate surgical operations in the virtual world. This offers a new experience for both patients and healthcare workers.
The Vcity metaverse can collaborate with educational institutions to create virtual classrooms, virtual laboratories, and other educational spaces, providing new solutions for vocational training, online courses, and other fields.
The Vcity metaverse offers users an immersive cultural and tourism experience. Users can virtually tour famous landmarks, natural landscapes, and cultural heritage sites worldwide, experiencing the customs and traditions of different regions. This can help promote the development of the cultural tourism industry.
The Vcity metaverse is a world that merges virtual and real elements. Through technological means, it can map the real world into the virtual world, allowing people to experience various activities from the real world in a virtual environment. This fusion not only enhances efficiency but also creates more business opportunities and job prospects.
4.4 Between
4.4.1 Core Functions
4.4.1.1 Social Functions
Online live streaming, online advertising, video on demand, online radio, short videos (coming soon)
4.4.1.2 Application Functions
(1) Remote Education
(2) Telemedicine
(3) Real-time Video Conferencing
4.4.1.3 Audio and Video Production Functions
a. Music production for original and independent musicians;
b.Large-scale film and television production, distribution, etc.
4.4.2 Application Scenarios
4.4.2.1 Corporate Live Streaming
Scenarios such as meetings, product launches, and training exchanges enhance corporate image and improve communication efficiency.
4.4.2.2 Educational Training
Online courses, lectures, seminars, etc., breaking through geographical limitations to achieve resource sharing.
4.4.2.3 Entertainment Interaction
Events such as celebrity meet-and-greets, concerts, and game streaming enhance fan interaction and increase user engagement.
4.4.2.4 Sports Events
Live broadcasting of various sports events, allowing audiences to watch exciting matches anytime and anywhere.
4.4.2.5 Film and Television Productions
Production and distribution of major film and television works, among others.
4.4.2.6 Music Production
Original and independent musicians can directly engage in music production at Between.
4.5 Digital Museum
4.5.1 Mission
Vcity will use regional cultures around the world as a medium, promoting the spread and exchange of global human culture through the establishment of Digital Museums and global touring exhibitions, thereby creating a broadly inclusive virtual economy.
4.5.2 Technical Team
Within the Digital Museum system, Vcity has assembled an elite creative team, collaborating with top Hollywood film production teams and leading global metaverse production teams. Additionally, internationally renowned producers of blockchain games have been specially hired to uniquely craft the Digital Museum.
4.5.3 Development Plan
Vcity's Digital Museum plans, within the next five years, to complete 3D presentations of some significant artifacts from China's 5000-year history and to simultaneously offer the actual artifacts as NFTs (tradable) or souvenirs for global sale.
Within ten years, the plan is to establish Digital Museums for five different civilizations, such as the Russian Culture Digital Museum, French Culture Digital Museum, etc.
4.6 Vcity Love Verse
4.6.1 Vcity Social Networking System
Vcity Love Verse is a three-dimensional, immersive social networking platform hosted in the metaverse, offering users a personalized, immersive environment for making connections. It features a unique credit system that provides a safer and more trustworthy social experience. Being hosted in the metaverse, it allows users to enjoy a new, rich, and entertaining socializing experience. Additionally, through Sky Verse‘s personal microcosms, users can enjoy a convenient, free, and warm social experience.
Furthermore, Vcity Love Verse prioritizes user privacy, does not collect user information, and all operations are automatically executed by smart contracts.
4.6.2 The Vision of Vcity Love Verse
Vcity Love Verse is a metaverse-based three-dimensional social networking platform that breaks the boundaries of geography, time, and space, allowing users to experience an immersive socializing process.
(1)Fulfilling user desires. Vcity Love Verse aims to help users achieve wishes that are unattainable or unfulfilled in real life, such as making friends, traveling, interacting, switching identities, and even bringing digital life into reality;
(2)Facilitating the exchange and spread of global cultures. Vcity Love Verse will advance Vcity’s mission of actively disseminating human culture using global regional cultures as a medium, such as communicating and interacting with friends from different countries and cultural backgrounds;
(3)Creating opportunities for collaboration. In Vcity Love Verse, users will have more opportunities to meet like-minded friends, achieve cooperation through sharing experiences and exchanging ideas, thereby promoting the development of certain industries or economies to some extent;
(4)Supporting the flourishing development of the metaverse. Vcity Love Verse will open new directions, provide new thinking, and inject new vitality into the metaverse, thereby aiding its prosperous development.
4.6.3 Features of Vcity Love Verse
Socializing, navigation, channels (interest-based), updates, collaboration, etc.
4.6.4 Participation Requirements for Vcity Love Verse
Must pass KYC (Know Your Customer) verification.
Section 5: Technological Advantages and Value Transmission
5.1 Vcity Technological Advantages
5.1.1 Top-tier Technical Team
Global top-tier technical team of 50 members. Possesses years of experience in large-scale cross-border website development, adept in using multi-chain blockchain technology and the latest AI technologies, and proficient in blockchain smart contracts.
5.1.2 Advanced AI Technology
Vcity’s advanced AI technology is extensively applied across various sectors including GPT Q&A, credit systems, credit scoring frameworks, and point calculation.
5.1.3 Data Center Deployment
Vcity operates several of the world’s most advanced data centers, featuring no redundant data, ensuring smooth platform access, and capable of supporting up to 5 million users concurrently online.
5.1.4 Top-Tier Production Team
Featuring top Hollywood game and film production teams as well as leading global metaverse production teams, we are poised to launch a metaverse that integrates virtual and real-world elements, along with the Between streaming media ecosystem.
5.1.5 Leading Public Blockchain Technology
Vcity’s public blockchain utilizes Ethereum sidechain technology to achieve scalability and high throughput. It constitutes a robust smart contract system, providing a secure, efficient, and cost-effective blockchain solution. It is extensively applied in the Vcity ecosystem, including the metaverse, Between streaming media, dB shopping mall bartering, NFT staking, and NFT lending, along with services such as intelligent storage, digital copyright authentication, and reliable traceability. The blockchain’s permanent storage and immutability effectively address issues such as the digital storage of data and cultural artifacts, information confidentiality, on-chain circulation, and anti-counterfeiting.
5.1.6 Vcity Nodes (Coming Soon)
Node Application Requirements: (Specific rules to be determined)
5.2 Vcity Value Transmission
5.2.1 Credit Reporting System
Vcity’s credit reporting system utilizes AI technology to record and analyze users" credit behavior, thereby assessing whether users have engaged in any violations across various sections of the platform. Any violations are permanently recorded in the credit system and will affect the user’s activities and rights within Vcity to varying degrees.
5.2.1.1 Mute Records
In the public areas such as social media feeds, article comment sections, communities, clubs, local areas, offline ecosystems, GPT Q&A, Voice NFT minting columns, direct advisory channels, etc., users who engage in malicious spamming, post vulgar content, advertisements, unverified links, or QR codes will be subject to varying degrees of muting based on the severity of their actions. This includes direct muting or referral to a decentralized management system for jury review. Furthermore, records of such bans will be permanently documented in the credit system.
5.2.1.2 Violation Records
When users engage in violations within specific sections, AI will automatically identify and tag these incidents. The system will then administer penalties based on the severity of the violations, and these records will be permanently documented in the credit system.
(1)GPT Q&A
When users commit violations in the "GPT Q&A" section, such as providing irrelevant answers, advertising, posting unclear links, or sharing vulgar content, AI will automatically flag these activities. Once flagged, the user will be restricted from participating in this section for 24 hours. Activities can resume automatically after the restriction period ends.
(2)Chatroom
When users engage in violations within the "Chatroom", such as malicious spamming, misleading information, or inappropriate content.
(3)Article
When users engage in violations within the "Articles" section, such as posting prohibited content, providing misleading information, or sharing vulgar content.
(4) Decentralized Management
When users commit violations in "Decentralized Management", such as maliciously resubmitting cases for review or arbitrarily handling cases.
(5) Barter Platform
When users engage in violations on any "Barter Platform", such as malicious order manipulation or maliciously leaving negative feedback.
5.2.2 Credit Value System
The credit value system of Vcity is a crucial component of its core technological advantages. It is integrated throughout various functionalities and activities of the platform, offering users a novel way to participate and interact.
5.2.2.1 Connective Function
The credit value system plays a pivotal connective role within Vcity. Various user activities, such as social interactions, financial transactions, and content creation, are closely linked to the credit value system. These actions not only reflect the user’s activity and contribution on the platform but also accumulate credit points for the user. This accumulation mechanism encourages users to actively participate in various platform activities, fostering a positive feedback loop.
5.2.2.2 Reward Mechanism
The credit value system in Vcity features a distinct reward mechanism. The higher a user’s credit value, the greater the benefits they reap on the platform. These rewards may come in various forms such as digital assets, platform privileges, or service discounts, thereby further stimulating user engagement. Additionally, it provides a fair and transparent competitive environment, ensuring that each user’s contributions receive appropriate recognition and rewards.
5.2.2.3 High Flexibility and Scalability
Vcity’s credit value system also boasts high flexibility and scalability. It can be continuously adjusted and optimized in terms of how credit values are calculated and the scenarios in which they are applied, in alignment with the evolving needs of the platform. For instance, as the platform's functionalities expand, credit values can be increasingly applied to areas such as permission management and resource allocation, offering a more diversified range of services to users.
5.2.2.4 Data Privacy and Data Security
Vcity's credit value system places a strong emphasis on user privacy and data security. The platform employs advanced technological measures to ensure that credit value data is well-protected against leaks and misuse. This provides users with a secure and reliable environment, allowing them to confidently engage in various activities and transactions on the platform.
5.2.2.5 Relationship with KYC Verification
Credit values for Vcity users are closely tied to KYC verification. Users with a credit value of 500 or above, or those with a credit value over 20 and in possession of either a Genesis NFT or a KYC NFT, are eligible for Vcity KYC verification.
5.2.2.6 Technological Innovation and Advantages
The credit value system of Vcity is a significant manifestation of its technological innovation and advantages. By linking user behavior, offering a reward mechanism, and providing flexibility and security, it creates a fair, transparent, and dynamic virtual world for its users.
5.2.2.7 Decentralized Management
Ownership of any one of the following: 10 Voice NFTs, 1 Genesis NFT, or 1 KYC NFT, qualifies a user to participate in the platform's decentralized management. Users with a credit value of over 500 are eligible to adjudicate standard cases, while those with a credit value exceeding 1000 may partake in the review of spokesperson articles.
5.2.3 Points System
5.2.3.1 Earning Points
Before being recorded on the blockchain, a key feature of the Points System is "Attention Accumulation", where users earn points by contributing their attention. These contributions are authenticated through data verification and are automatically rewarded back to the users as points according to specific rules, initially converting attention into digital assets. The distribution follows a merit-based approach. Additionally, during the process of earning points, users also become co-owners of the platform.
5.2.3.2 Functions of Points
It serves as one of the methods for users to obtain dB in Vcity, where dB is the universal platform token used throughout the entire virtual economy of Vcity.
5.2.3.3 Total Points and Distribution Method
The total number of platform points is 100 million, distributed across four parts:
(1)User Attention Acquisition: 60%
(2)Management Team: 5%
(3)Community (for Platform Development): 15%
(4)Investors: 20%
5.2.3.4 Points Distribution Mechanism
Points need to be acquired through the user's willingness to purchase (by paying the associated production costs) and convert them into Voice NFTs to realize their value.
Out of the total 100 million points, 60% are allocated for user acquisition, amounting to:
The quantity allocated for user acquisition = 100 million points × 60% = 60 million points.
According to the acquisition method, only 10% of the remaining total can be obtained each year. The total number of points that can be acquired each year for the first 10 years are as follows:
Year 1 (2023): 10,000,000 points
Year 2 (2024): 9,000,000 points
Year 3 (2025): 8,100,000 points
Year 4 (2026): 7,290,000 points
Year 5 (2027): 6,561,000 points
Year 6 (2028): 5,904,900 points
Year 7 (2029): 5,314,400 points
Year 8 (2030): 4,783,000 points
Year 9 (2031): 4,304,700 points
Year 9 (2031): 4,304,700 points
(and so on)
5.2.3.5 Points Total Release Mechanism
The total number of points is 100,000,000, with 10% of the remaining balance released each year.
From November 3, 2022, to November 3, 2023: The total release amount is 10 million points.
Annotation: The effective release amount is determined by the compliant acquisition of points. The total release amounts for the Management Team, Community, and Core Team are based on the proportion of points genuinely acquired and released.
5.2.3.6 Points Acquisition Rules
(1) Only users with a credit value of 20 or above, or those holding a Genesis NFT or KYC NFT, are eligible to participate in points acquisition, except for users who are muted.
In the context of a continuously growing user base in Vcity, the basic conditions for acquiring points will be further elevated. That is, the methods for acquiring Vcity points will undergo necessary adjustments with the introduction of various Vcity features.
(2)Methods for Users to Acquire Points
a.NFT Ownership Rewards:
Owns NFT rewards amounting to 10% of the daily release volume;
Each user can release rewards for up to five Genesis NFTs and five KYC NFTs. Each Genesis NFT provides a maximum bonus of one point, while KYC NFTs offer a maximum bonus of 0.3 points and a minimum of 0.2 points. Exceeding 10% of the daily point release volume triggers an automatic calculation of bonuses through a smart contract based on a percentage;
Any surplus points are allocated to the sign-in category.
b.Article Appreciation Reward:
Article appreciation rewards constitute 5% of the daily release volume;
Users whose articles published on Vcity receive more than 10 likes will earn a maximum of 0.8 points per day, distributed proportionally among users;
Any remaining amount is allocated to user sign-ins.
c.Referrer Reward:
Referrer rewards constitute 10% of the daily release volume;
Each day, active valid promotional users (defined as users with a credit score of 100 or above and who have passed KYC verification) are eligible to receive up to one point per active user;
Any remaining amount is allocated to user sign-ins.
d.Credit Value Reward:
Credit value rewards constitute 5% of the daily release volume;
Credit value rewards are distributed based on the user's credit score, with releases occurring according to credit score levels. Participation is available to those with scores of 20 and above, calculated across several tiers: 5000, 3000, 2000, 1000, and below 1000. The maximum reward per user is 0.8 points.
e.Participation in Decentralized Governance:
Participation in decentralized governance rewards constitutes 5% of the daily release volume;
Participation in decentralized management constitutes 5%(Prior to the development of decentralized management, these points are allocated to user sign-ins),The maximum allocation per user is 0.5 points.
f.Spokesperson Reward:
Spokesperson rewards constitute 5% of the daily release volume;
The maximum limit is 0.8; any remaining amount is allocated to user sign-ins.
（Annotation：Spokespersons are required to publish articles daily in order to receive rewards.）
g.Club Founder Reward:
Club founder rewards constitute 2% of the daily release volume;
The maximum limit is 0.6; any remaining amount is allocated to user sign-ins.
(Minimum daily participation requirement for the club: at least 10 Voice NFTs must be staked.)
h.Merchant Order Completion Reward:
Merchant order completion rewards constitute 2% of the daily release volume;
Rewards are calculated based on the total number of orders per user, with a maximum of 0.3 per user. Any remaining amount is allocated to user sign-ins;
Buyer order completion rewards constitute 2% of the daily release volume;
Rewards are calculated based on the total number of orders per user, with a maximum of 0.1 per user. Any remaining amount is allocated to user sign-ins.
i."GPT Q&A" Effective Answer Reward:
"GPT Q&A" effective answer rewards constitute 2% of the daily release volume;
Rewards are calculated based on the number of answers provided by users, with a maximum limit of 1 per user;
(GPT Q&A Requirements: Spamming, irrelevant responses, advertising, and other such behaviors, once included in the credit system's blacklist, will prohibit the user from answering again within 24 hours.)Any remaining amount is allocated to user sign-ins.
j.Daily Sign-in Reward:
Daily sign-in rewards constitute more than 50% of the daily release volume;
50% of the daily release volume is allocated as the base sign-in reward, along with the remaining, unallocated amounts from other categories, to be evenly distributed among users.
The value of Vcity is represented in the form of points. Therefore, the platform belongs to the users, and its value needs to be built collectively by everyone.
Therefore, a three-phase lock-up mechanism is implemented for points, releasing 33.33% of the acquired amount each year. Of the remaining amount, 33.33% is automatically locked for 1 year, and another 33.33% is automatically locked for 2 years.
5.2.3.7 Explanation
Points rewards are dynamic, with daily parameters varying:
a.The reward amount does not equal the extractable amount; the extractable amount will be determined by AI based on specific algorithmic rules;
b.By obtaining points, users automatically accept the above lock-up mechanism;
c. The Vcity project team retains all rights to interpret the rules regarding point releases.
Section 6: Advantages of the Founding Team
6.1 Founders
Xie Zhang: A Canadian of Chinese descent who has studied extensively at the University of Cambridge and York University in the UK. She is an independent media personality, a well-established personal IP, and an investor.
6.2 Technical Team
Sam: Technical Director with many years of experience in developing large-scale cross-border websites. Proficient in multi-chain blockchain technology. The Technology Director oversees a team of 50 members, comprising experts in key Web3 domains including blockchain and the Metaverse. This team is responsible for the software design and operation of the platform.
6.3 Art Director
Tong Fang: A Canadian of Chinese descent, who has studied in France. She has been active in the arts, particularly in painting and sculpture design, for many years. In recent years, she has engaged in photography, and her works have won numerous important international awards and have been featured in major magazines both domestically and internationally, including VOGUE and Yishu (International Edition). In 2020, she was interviewed by CBC Arts, a division of the Canadian national broadcaster. Her works have been continuously exhibited in various cities around the world, including Paris, Rome, Milan, Sicily, Budapest, Shanghai, New York, London, and Vancouver.
6.4 Management Team
Core Management Team (45 members): Responsible for daily operations and core management tasks;
First-Level Management Team (150 members): Responsible for the operation of specific projects and staff training.
Volunteer Team (600 members): Responsible for the 24-hour operation of specific project websites;
Talent Reserve Team (900 members): Serves as a robust backup force for the management team;
Global Management Team: Currently recruiting, with the management structure already established in 39 countries and regions.
6.5 Chief Financial Officer
JinYu Yang: Head of a Chartered Professional Accountants firm based in Coquitlam, British Columbia. Specializes in providing high-quality, timely accounting, tax, and consulting services for professionals and owner-managed businesses.
6.6 Legal Support
Sandy Wang Law Corporation
Section 7: Achievements
7.1 Hardware
We have established Data Center 1 and Data Center 2 headquartered in Vancouver, along with Data Center 3 in India. Data Centers 4 and 5 are currently in preparation. In addition to utilizing Amazon cloud servers and remote storage, we are currently capable of supporting 5 million users online simultaneously.
7.2 Employee and Management
As mentioned in Section 6, all teams and employees have collectively established a robust management and operations team.
7.3 Users
We have over 1 million users worldwide. The website receives more than 5 million daily visits, with daily concurrent online users ranging from 30,000 to 400,000.
7.4 Recognition
Founder IP Value and Project IP Value
Section 8: Roadmap
| Timeline |
Specific Tasks |
| April 2024 |
Testing of Between Live Streaming System |
| May 2024 |
Metaverse Launch |
| June 2024 |
Public Chain Testing Begins |
| July 2024 |
"The Flame of Givilization Chinese 3D Digital Museum Launch |
| August 2024 |
All Vcity data will be integrated with the public chain |
| September 2024 |
AI Integration with the Metaverse |
| October 2024 |
Vcity Pick |
| November 2024 |
Vcity Love Verse |
| December 2024 |
"The Flame of Givilization" Grand Opening of the Offline Digital Museum |
Annotations：Established on April 18, 2024
Section 9: Interpretation and Disclaimer
(1) The reward points are dynamic, with daily parameters varying;
(2) The amount of reward points does not equal the withdrawable amount; the withdrawable amount will be determined by AI based on a set of algorithmic rules;
(3) By earning points, you automatically accept the above-mentioned lock-up mechanism;
(4) The Vcity project team reserves all rights to interpret the release of points.
Section 10: Supplementary Provisions - Glossary of Relevant Terms
10.1 What is Web3
Web3 refers to the third version of the Web, centered around the concept of decentralization. The goal of Web3 is to dismantle the centralized architecture of the traditional internet, enabling users to have better control over their data and digital assets.
In Web3, blockchain technology plays a crucial role. Blockchain is a decentralized distributed ledger that records an immutable history of all transactions and information. Web3 leverages blockchain technology to build decentralized applications and services.
Compared to the traditional Web, Web3 has the following characteristics:
Decentralization: Web3 does not rely on centralized servers or institutions to store and manage data. Instead, data is shared and verified through a network of distributed nodes.
User Control: Web3 gives users direct control over their personal data and digital assets. Users can independently decide how to use, share, and protect their data.
Transparency and Security: Since data is stored on the blockchain, Web3 offers a high level of transparency and security. Transactions and information can be publicly viewed and are resistant to tampering.
Smart Contracts: Web3 utilizes smart contracts to enable automated and programmable transactions and agreements. Smart contracts are predefined rules and conditions that automatically execute the relevant actions once the conditions are met.
Its goal is to create a more open, fair, and secure internet ecosystem, allowing users to more freely participate in and control their digital world.
10.2 What is an NFT
NFT (Non-Fungible Token) is a type of digital asset based on blockchain technology, characterized by its uniqueness and irreplaceability. Unlike traditional cryptocurrencies such as Bitcoin or Ethereum, which are interchangeable and where each unit can be exchanged for another, NFTs are unique. Each NFT has its own distinct identifier and value.
The uniqueness of NFTs stems from smart contracts within blockchain technology, which allow creators to transform digital assets into non-replicable, one-of-a-kind items. These digital assets can take various forms, such as artwork, music, videos, game items, virtual real estate, and more. NFTs not only record the ownership and transaction history of the digital asset but also ensure its authenticity and immutability.
Between