Since the introduction of blockchain in 2008, the technology has evolved from being a distributed ledger for payment transactions to other important utilities. Blockchain is becoming prominent amongst government enterprises and industries, such as healthcare, finance, banking, media, etc., as a secure and fast way of executing transactions and storing information.
In two decades, several blockchains have emerged to help developers turn their vision into a reality. Despite the crop of blockchains, they have common limitations. They have yet to address the trilemma of speed, security, and scalability for gamification and the metaverse. This adds to the high gas fees charged for game creators to utilize other networks to host their new games.
These unresolved issues inspired founder of NELO, Walter Teo, to develop a cost-effective protocol that solves the above problems and provide the infrastructure for developers to deploy their various projects. Thus, the development of NELO Smart Chain (NSC) commenced.
Decentralized Protocol for the Metaverse
The metaverse is the virtual world that will change human interaction as well as how people shop, and game. Although it is still in its early days, companies and brands embrace the concept. However, the infrastructure offered by existing blockchains are insufficient, slow, and unreliable for gamification and the metaverse. This massive gap is what NELO wants to bridge.
NELO is an open, decentralized protocol built by crypto enthusiasts for developers to transform their ideas into reality. With the metaverse in development and developers yearning for a cost-effective and scalable blockchain to deploy their game projects, NELO has emerged as a DeFi solution to push adoption and enable gamers to enjoy a smooth experience, for its developers to their users.
Head of Business Development and Marketing Shawn Tan said, “at NELO, we are ready to redefine the blockchain industry, being the building block between the present and the future to create one harmonious ecosystem.”
NELO creates an energy-efficient environment for building apps and connecting Ethereum-compatible networks while addressing the issues associated with the Ethereum blockchain. It is the first blockchain to solve the trilemma – scalability, speed, and security as a blockchain built for the metaverse.
NELO has offered users the chance to be part of their first metaverse project – Neloverse, in which they will be showcasing the capabilities of their blockchain, NELO Smart Chain (NSC). In Neloverse, players have the chance to monetize their creations and decide their game experiences. Offering players a truly decentralized gamified experience, the team has outlined plans to partner with fashion brands and existing games. NELO has announced that its metaverse game “Neloverse,” is set to be released later in the year, according to their roadmap for 2022.
According to the team, pieces of land would be available in the gameverse for players to purchase to build and host their games. These parcels of land translate to a Non Fungible Token, NFT, meaning that players will be able to own them as digital assets.
NELO Announces Testnet and Mainnet Launch
NELO has taken a step further to announce the launch of its testnet and mainnet. Starting from March, NELO’s developers will begin running tests on the network, which includes their NFT marketplace, NELO swap, wallet, etc., to ensure the protocol’s readiness for its mainnet launch in September this year. In addition, a completely new whitepaper V1 will be released shortly after their rebrand, which will provide users with more information about their tokenomics and company direction as a whole.
That’s not all. The highly anticipated Neloverse game will officially launch in October 2022. NELO has teamed up with the experienced and knowledgeable company, EBIZWORLD, to develop the game. With the expertise of EBIZWORLD, Neloverse will be expected to feature a state-of-the-art design with an interactive user interface to keep players engaged and entertained.
NELO will also launch its centralized exchange in October 2022, while their Launchpad and Gamepad will be unveiled in November 2022.
For NELO, the future is bright. The team is excited about the potential of the blockchain network and its relevance in the metaverse. Based on the series of announcements, NELO is prepared to redefine the blockchain industry.
