July 21, 2022 09:18 ET | Source: HovR HovR
Pretoria, SOUTH AFRICA
PRETORIA, SOUTH AFRICA, July 21, 2022 (GLOBE NEWSWIRE) — Vortx Capital Pty LTD, a software investment company with an investment mandate that focuses on actual revenue, zero hype, and real blockchain use cases, has announced the launch of HovR—the world’s first in-gaming NFT exchange for cross-game items and player incentivization. Most of the existing NFT marketplaces require high transaction fees, some ranging from $80 to over $250, to mint an NFT. While a second-layer blockchain serves as a suitable alternative, converting coins is tedious and a technical nightmare for the average user.
The problems do not end there. The existence and usage of a second layer blockchain diminish, to a greater level, the composability of the primary blockchain. It also opens up a myriad of security and privacy concerns and removes liquidity.
HovR seeks to resolve these sticking points.
HovR is built on Qi—one of the most advanced blockchains in the world. Leveraging this network, HovR guarantees remarkably lower fees and an NFT marketplace ideal for real-time use cases. HovR focuses primarily on substantial NFT offerings such as in-game trading collectibles, purchase of web 3.0 domain, safekeeping of wills, ticket touting, social media avatars, and other NFTs with real value.
As the possibilities of NFTs in various industries are explored in the form of sports contracts, carbon credits, verifying college degrees, digital passports, medical records, etc., HovR aims to be at the forefront of this revolution, enabling users to exchange one token for another seamlessly.
HovR Leverages Qi Blockchain
As one of the modern blockchains, HovR will leverage Qi to verify the original owner of the NFT and also ascertain the trading history of each token. Qi blockchain uses an NFT ID system similar to a QR code to make this possible.
The Qi blockchain handles as many as 300 times more transactions per second than Bitcoin and ten times more than SWIFT. VortX Capital Pty Ltd was first to market in mining Qi and going forward, the investment company will build and subsequently launch an array of decentralized applications [DApps] and play-to-earn [P2E] games. Talks are currently underway between VortX, the Johannesburg Stock Exchange, and Equity Express Stock Exchange for the software investment company to become the first blockchain-based platform to conduct an IPO in Africa.
HovR, as a revolutionary project in the nascent NFT space, aims to offer a secondary market where gamers can comfortably sell off in-game items. HovR also enables renting of these digital assets to other players.
As more gamers continue to enter the blockchain-based P2E gaming market, a new market and potential are open for tapping. And HovR positions itself as the perfect platform to lead this new industry, putting players back in the driver’s seat.
HovR has launched a collection of unique NFTs comprising the 10,000 largest cities by population. These NFTs will serve as crucial components for a P2E game for world domination.
About HOvR NFT Marketplace
A product of VortX Capital Pty LTD, HovR is the world’s first in-game NFT exchange for cross-game items. HovR leverages the state-of-the-art Qi blockchain to deliver a secondary marketplace positioned perfectly for the new phase of P2E gaming. Through various groundbreaking features, HovR seeks to put gamers back in the driver’s seat.