What is OrbCity? All You Need to Know About ORB
What is OrbCity?
OrbCity is a decentralized virtual world built on the Polygon blockchain. The project combines GameFi and DeFi features and is set in a post-apocalyptic future where survivors must rebuild civilization.
Users take on the role of city builders tasked with reclaiming polluted areas and developing their districts. They explore, scavenge for resources, and build and upgrade their cities to earn rewards.
History of OrbCity
Source: OrbCity Whitepaper
The OrbCity project was previously launched in November 2021 as KlayCity. It was launched by Jake, an experienced metaverse NFT investor and developer with a background in tokenomics analysis.
The team consisted of Jake, the team lead, Marcus, the full-stack developer, Seth, the marketing lead, and Joy and Derek who are product engineers. The team also had some experienced developers, namely Brown and Lucy.
The project’s LandFi platform debuted in November 2021, followed by an NFT whitelist registration and minting process in February 2022. OrbCity has since undergone several developmental phases, including four seasons of operation and a rebranding from KlayCity to OrbCity.
OrbCity has secured $4.10M in funding, including a $3.75M seed round led by Animoca Brands and seven other backers. An additional $350,000 was raised through an initial exchange offering (IEO).
Core Components of OrbCity: Polygon Blockchain, Metaverse, NFTs, GameFi and DeFi
Polygon Blockchain
Polygon is a Layer 2 scaling solution for the Ethereum blockchain, designed to enhance scalability and efficiency. It processes transactions on a separate sidechain before submitting them to the Ethereum mainnet for finalization.
Polygon’s infrastructure is essential for ensuring smooth and efficient gameplay. By leveraging Polygon’s processing capacity, OrbCity offers fast transaction speeds and low fees, enhancing the overall user experience.
This integration allows seamless interactions within the metaverse. Users can farm LAY NFTs and manage virtual assets while leveraging the security of the Ethereum network.
Metaverse
The metaverse is a collection of virtual shared spaces encompassing augmented reality (AR), virtual reality (VR), databases, and the internet. These features allow users to interact with computer-generated environments, assets, and other users.
OrbCity exemplifies the metaverse by offering a digital world where players can explore virtual districts and participate in play-to-earn games. Integrating NFTs and DeFi elements within the project enhances the metaverse experience, allowing users to own and trade unique digital assets.
Non-Fungible Tokens (NFTs)
NFTs are unique digital assets that represent ownership of a specific item or content on a blockchain. Unlike fungible cryptocurrencies, which can be exchanged for one another, NFTs are distinct and cannot be replaced.
NFTs are commonly used to represent digital art, collectibles, virtual real estate, and other digital goods. In the OrbCity project, NFTs are crucial in owning and trading virtual assets like land and characters.
Players can collect, buy, and sell these unique tokens to generate income. The integration of NFTs allows users to fully own their digital assets. Users can also upgrade and customize their virtual properties, further enriching the gameplay.
GameFi and DeFi
Decentralized finance (DeFi) refers to a financial system built using blockchain technology to improve traditional financial systems. The system allows the trading, borrowing, lending, and transacting of financial assets without the need for third parties.
GameFi aims to create decentralized financial systems for blockchain gaming projects. It incorporates DeFi elements into gameplay, allowing the creation of play-to-earn games.
OrbCity incorporates these elements to enhance the user experience and provide players with opportunities to earn rewards. Players can engage in activities such as staking, lending, and trading within the metaverse, leveraging their digital assets for financial gains.
Features of OrbCity Ecosystem: OrbCity Metaverse, Farming, and Tier System
OrbCity Metaverse
The OrbCity metaverse is the main project in the OrbCIty ecosystem that allows users to explore districts, earn ORB and LAY assets, and purchase land assets. The project uses a play-to-earn (P2E) model that allows players to earn real-world value through in-game activities.
The gameplay revolves around restoring a futuristic earth that has been destroyed by pollution and global warming. Players are returnees who aim to rebuild the planet, clean up the pollution, and gather large quantities of ORB.
Players can recruit leaders, unlock new maps, and upgrade virtual districts, contributing to earning potential.
Farming
In OrbCity, farming is integrated into the project, allowing players to earn rewards by providing liquidity with their ORB tokens. A function within the project farms ORB tokens by burning LAY assets.
ORBs are then used to increase the player’s ability to generate LAY assets, which generates more ORBs. non-district users can earn SCRAPs, which can be used to farm LAY and ORB assets.
This feature enhances the metaverse’s economic model, enabling players to engage in farming activities while participating in the game’s ecosystem.
Tier System
Source: OrbCity Whitepaper
The OrbCity platform has a limited number of membership for participants. Similar to a special club, Orb members are limited to 500 participants, rated based on the number of points they have.
The tiers range from bronze to legendary. To start, members with around 10k points are placed on the bronze level, making up half of the membership. With additional points, participants can progress from bronze to silver, gold, platinum, diamond, and finally Legendary.
To earn points, users need to either stake coins in the form of ORB or LAY, or stake land or building NFTs. the larger the assets staked, the larger the points and rewards.
What is the ORB Token?
Source: OrbCity Whitepaper
The ORB token is the backbone of the OrbCity metaverse. With ORB, users can manage virtual districts, explore new areas, and participate in governance decisions.
The ORB token is integral to the Play-to-Earn model, enabling players to earn rewards through their in-game activities and interactions. Users can leverage ORB for various functionalities, including upgrading existing districts and unlocking new maps.
The token’s utility extends to staking and farming, allowing players to earn additional rewards while contributing to the platform’s liquidity and stability. The project has a total supply of 1 billion, with 296 million in circulation.
Its tokenomics allocates 44% (436 million) for yield mining, 18% (178 million) for the team, 18% (178 million) for investors, and 7% (69 million) for ecosystem development.
6% (59 million) is assigned to marketing, 4% (39 million) to incentivizing liquidity providers, 2% (19 million) to the development fund, and 1% (9 million) to liquidity.
What is the LAY Token?
The LAY token is a key component of the OrbCity ecosystem. It is primarily generated by users who own and manage virtual districts within the game.
Players utilize these tokens to farm ORB tokens and unlock new districts, expanding their virtual empires. The token functions as both an ecosystem utility and a resource for gameplay, with more tokens produced by those who contribute to the ecosystem.
The token supply is unlimited. LAY tokens are produced and used exclusively by users. The project team controls the number of NFTs that generate LAY every season to adjust production and inflation.
Is the ORB Token a Good Investment?
ORB is the native token of the OrbCity metaverse, serving multiple purposes that enhance user engagement and ecosystem functionality. It enables players to manage virtual districts, earn rewards through gameplay, and participate in governance decisions.
The token’s utility extends to staking and farming, allowing users to generate passive income and contribute to the ecosystem’s liquidity. As a project integrating gaming, NFTs, and DeFi, OrbCity offers potential access to innovation.
It also gives early investors and adopters a say in the long-term development of the metaverse space.
Risk Analysis
Advantages
OrbCity offers several advantages that enhance its appeal as a metaverse platform. The project integrates NFTs and simplifies DeFi onboarding and exploration, allowing users to engage with virtual assets seamlessly.
The dual-token economy, consisting of LAY and ORB tokens, provides users with diverse functionalities for better resource management. Additionally, OrbCity fosters community involvement through a governance-based council system, enabling users to influence the platform’s development.
Disadvantages
The project’s reliance on a dual-token system can create confusion, as users must navigate LAY and ORB tokens for different functionalities. This complexity may deter new users who are unfamiliar with cryptocurrency ecosystems.
Challenges
One significant challenge facing OrbCity is the potential for user fatigue and declining engagement over time. As with any game or metaverse platform, maintaining a consistent and engaged user base is crucial for sustaining growth and economic stability.
If players lose interest or feel the gameplay loop becomes repetitive, it could lead to declining activity and profitability within the ecosystem. The tokens are also subject to the uncertainty and price volatility of the crypto space.
Competitive Analysis
OrbCity and Alien Worlds are blockchain-based platforms offering GameFi opportunities, but they differ significantly in their applications. OrbCity focuses on land-based gameplay, allowing users to build and manage virtual cities, while Alien Worlds centers around mining digital assets on various planets.
OrbCity’s tokenomics feature two main tokens, ORB and LAY, whereas Alien Worlds operates on a single-token economy with TLM. OrbCity targets players interested in city-building and long-term investments, while Alien Worlds appeals to those seeking quicker returns through mining and DeFi interactions.
Audit on OrbCity
On December 23, 2022, SOOHO Audit audited the smart contracts for the ORB token. Upon completion of the audit, no admin hacks or general vulnerabilities with the source codes or the architecture were discovered.
How Can You Own ORB?
Users can follow a simple process to own ORB tokens and become a part of the OrbCity ecosystem.
Setup a Wallet
One way to own ORB tokens is to purchase them through an exchange. For this, the user must create a Gate.io account, complete the KYC process, and add funds to the account to buy the token.
Utilize the ORB Tokens
Once users have acquired ORB, they can explore the OrbCity ecosystem by staking ORB, farming, and participating in governance.
Useful References
For the latest updates about the OrbCity Ecosystem, visit:
Take action on ORB
Users can trade the ORB tokens here.
What is OrbCity?
History of OrbCity
Core Components of OrbCity: Polygon Blockchain, Metaverse, NFTs, GameFi and DeFi
Features of OrbCity Ecosystem: OrbCity Metaverse, Farming, and Tier System
What is the ORB Token?
What is the LAY Token?
Is the ORB Token a Good Investment?
Risk Analysis
Competitive Analysis
Audit on OrbCity
How Can You Own ORB?
Useful References
Take action on ORB
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What is OrbCity? All You Need to Know About ORB
What is OrbCity?
History of OrbCity
Core Components of OrbCity: Polygon Blockchain, Metaverse, NFTs, GameFi and DeFi
Features of OrbCity Ecosystem: OrbCity Metaverse, Farming, and Tier System
What is the ORB Token?
What is the LAY Token?
Is the ORB Token a Good Investment?
Risk Analysis
Competitive Analysis
Audit on OrbCity
How Can You Own ORB?
Useful References
Take action on ORB
What is OrbCity?
OrbCity is a decentralized virtual world built on the Polygon blockchain. The project combines GameFi and DeFi features and is set in a post-apocalyptic future where survivors must rebuild civilization.
Users take on the role of city builders tasked with reclaiming polluted areas and developing their districts. They explore, scavenge for resources, and build and upgrade their cities to earn rewards.
History of OrbCity
Source: OrbCity Whitepaper
The OrbCity project was previously launched in November 2021 as KlayCity. It was launched by Jake, an experienced metaverse NFT investor and developer with a background in tokenomics analysis.
The team consisted of Jake, the team lead, Marcus, the full-stack developer, Seth, the marketing lead, and Joy and Derek who are product engineers. The team also had some experienced developers, namely Brown and Lucy.
The project’s LandFi platform debuted in November 2021, followed by an NFT whitelist registration and minting process in February 2022. OrbCity has since undergone several developmental phases, including four seasons of operation and a rebranding from KlayCity to OrbCity.
OrbCity has secured $4.10M in funding, including a $3.75M seed round led by Animoca Brands and seven other backers. An additional $350,000 was raised through an initial exchange offering (IEO).
Core Components of OrbCity: Polygon Blockchain, Metaverse, NFTs, GameFi and DeFi
Polygon Blockchain
Polygon is a Layer 2 scaling solution for the Ethereum blockchain, designed to enhance scalability and efficiency. It processes transactions on a separate sidechain before submitting them to the Ethereum mainnet for finalization.
Polygon’s infrastructure is essential for ensuring smooth and efficient gameplay. By leveraging Polygon’s processing capacity, OrbCity offers fast transaction speeds and low fees, enhancing the overall user experience.
This integration allows seamless interactions within the metaverse. Users can farm LAY NFTs and manage virtual assets while leveraging the security of the Ethereum network.
Metaverse
The metaverse is a collection of virtual shared spaces encompassing augmented reality (AR), virtual reality (VR), databases, and the internet. These features allow users to interact with computer-generated environments, assets, and other users.
OrbCity exemplifies the metaverse by offering a digital world where players can explore virtual districts and participate in play-to-earn games. Integrating NFTs and DeFi elements within the project enhances the metaverse experience, allowing users to own and trade unique digital assets.
Non-Fungible Tokens (NFTs)
NFTs are unique digital assets that represent ownership of a specific item or content on a blockchain. Unlike fungible cryptocurrencies, which can be exchanged for one another, NFTs are distinct and cannot be replaced.
NFTs are commonly used to represent digital art, collectibles, virtual real estate, and other digital goods. In the OrbCity project, NFTs are crucial in owning and trading virtual assets like land and characters.
Players can collect, buy, and sell these unique tokens to generate income. The integration of NFTs allows users to fully own their digital assets. Users can also upgrade and customize their virtual properties, further enriching the gameplay.
GameFi and DeFi
Decentralized finance (DeFi) refers to a financial system built using blockchain technology to improve traditional financial systems. The system allows the trading, borrowing, lending, and transacting of financial assets without the need for third parties.
GameFi aims to create decentralized financial systems for blockchain gaming projects. It incorporates DeFi elements into gameplay, allowing the creation of play-to-earn games.
OrbCity incorporates these elements to enhance the user experience and provide players with opportunities to earn rewards. Players can engage in activities such as staking, lending, and trading within the metaverse, leveraging their digital assets for financial gains.
Features of OrbCity Ecosystem: OrbCity Metaverse, Farming, and Tier System
OrbCity Metaverse
The OrbCity metaverse is the main project in the OrbCIty ecosystem that allows users to explore districts, earn ORB and LAY assets, and purchase land assets. The project uses a play-to-earn (P2E) model that allows players to earn real-world value through in-game activities.
The gameplay revolves around restoring a futuristic earth that has been destroyed by pollution and global warming. Players are returnees who aim to rebuild the planet, clean up the pollution, and gather large quantities of ORB.
Players can recruit leaders, unlock new maps, and upgrade virtual districts, contributing to earning potential.
Farming
In OrbCity, farming is integrated into the project, allowing players to earn rewards by providing liquidity with their ORB tokens. A function within the project farms ORB tokens by burning LAY assets.
ORBs are then used to increase the player’s ability to generate LAY assets, which generates more ORBs. non-district users can earn SCRAPs, which can be used to farm LAY and ORB assets.
This feature enhances the metaverse’s economic model, enabling players to engage in farming activities while participating in the game’s ecosystem.
Tier System
Source: OrbCity Whitepaper
The OrbCity platform has a limited number of membership for participants. Similar to a special club, Orb members are limited to 500 participants, rated based on the number of points they have.
The tiers range from bronze to legendary. To start, members with around 10k points are placed on the bronze level, making up half of the membership. With additional points, participants can progress from bronze to silver, gold, platinum, diamond, and finally Legendary.
To earn points, users need to either stake coins in the form of ORB or LAY, or stake land or building NFTs. the larger the assets staked, the larger the points and rewards.
What is the ORB Token?
Source: OrbCity Whitepaper
The ORB token is the backbone of the OrbCity metaverse. With ORB, users can manage virtual districts, explore new areas, and participate in governance decisions.
The ORB token is integral to the Play-to-Earn model, enabling players to earn rewards through their in-game activities and interactions. Users can leverage ORB for various functionalities, including upgrading existing districts and unlocking new maps.
The token’s utility extends to staking and farming, allowing players to earn additional rewards while contributing to the platform’s liquidity and stability. The project has a total supply of 1 billion, with 296 million in circulation.
Its tokenomics allocates 44% (436 million) for yield mining, 18% (178 million) for the team, 18% (178 million) for investors, and 7% (69 million) for ecosystem development.
6% (59 million) is assigned to marketing, 4% (39 million) to incentivizing liquidity providers, 2% (19 million) to the development fund, and 1% (9 million) to liquidity.
What is the LAY Token?
The LAY token is a key component of the OrbCity ecosystem. It is primarily generated by users who own and manage virtual districts within the game.
Players utilize these tokens to farm ORB tokens and unlock new districts, expanding their virtual empires. The token functions as both an ecosystem utility and a resource for gameplay, with more tokens produced by those who contribute to the ecosystem.
The token supply is unlimited. LAY tokens are produced and used exclusively by users. The project team controls the number of NFTs that generate LAY every season to adjust production and inflation.
Is the ORB Token a Good Investment?
ORB is the native token of the OrbCity metaverse, serving multiple purposes that enhance user engagement and ecosystem functionality. It enables players to manage virtual districts, earn rewards through gameplay, and participate in governance decisions.
The token’s utility extends to staking and farming, allowing users to generate passive income and contribute to the ecosystem’s liquidity. As a project integrating gaming, NFTs, and DeFi, OrbCity offers potential access to innovation.
It also gives early investors and adopters a say in the long-term development of the metaverse space.
Risk Analysis
Advantages
OrbCity offers several advantages that enhance its appeal as a metaverse platform. The project integrates NFTs and simplifies DeFi onboarding and exploration, allowing users to engage with virtual assets seamlessly.
The dual-token economy, consisting of LAY and ORB tokens, provides users with diverse functionalities for better resource management. Additionally, OrbCity fosters community involvement through a governance-based council system, enabling users to influence the platform’s development.
Disadvantages
The project’s reliance on a dual-token system can create confusion, as users must navigate LAY and ORB tokens for different functionalities. This complexity may deter new users who are unfamiliar with cryptocurrency ecosystems.
Challenges
One significant challenge facing OrbCity is the potential for user fatigue and declining engagement over time. As with any game or metaverse platform, maintaining a consistent and engaged user base is crucial for sustaining growth and economic stability.
If players lose interest or feel the gameplay loop becomes repetitive, it could lead to declining activity and profitability within the ecosystem. The tokens are also subject to the uncertainty and price volatility of the crypto space.
Competitive Analysis
OrbCity and Alien Worlds are blockchain-based platforms offering GameFi opportunities, but they differ significantly in their applications. OrbCity focuses on land-based gameplay, allowing users to build and manage virtual cities, while Alien Worlds centers around mining digital assets on various planets.
OrbCity’s tokenomics feature two main tokens, ORB and LAY, whereas Alien Worlds operates on a single-token economy with TLM. OrbCity targets players interested in city-building and long-term investments, while Alien Worlds appeals to those seeking quicker returns through mining and DeFi interactions.
Audit on OrbCity
On December 23, 2022, SOOHO Audit audited the smart contracts for the ORB token. Upon completion of the audit, no admin hacks or general vulnerabilities with the source codes or the architecture were discovered.
How Can You Own ORB?
Users can follow a simple process to own ORB tokens and become a part of the OrbCity ecosystem.
Setup a Wallet
One way to own ORB tokens is to purchase them through an exchange. For this, the user must create a Gate.io account, complete the KYC process, and add funds to the account to buy the token.
Utilize the ORB Tokens
Once users have acquired ORB, they can explore the OrbCity ecosystem by staking ORB, farming, and participating in governance.
Useful References
For the latest updates about the OrbCity Ecosystem, visit:
Take action on ORB
Users can trade the ORB tokens here.
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