Pavia – a new virtual world from Cardano
Since Facebook changed its name to Meta, people and companies have become hyped for the Metaverse. They see an opportunity for a major land grab in every meta platform that comes out. Here comes Cardano entering the Metaverse real estate scene with Pavia! It promises to enable people to enter virtual worlds as if they’re real locations.
If you want to catch up to the trend, then it would be wise to learn more about how the asset works. This means learning more about Cardano, Pavia, and the current virtual real estate market. What’s more, reading more about these things will help you understand what the future will become. That way, you can make these tools and services work for you.
First, I’ll discuss what the Cardano blockchain platform is and what its features are. Then, I will explain what the Metaverse is and why people buy virtual worlds. After that, I will talk more about Cardano’s latest entry into this tech world called Pavia. Later, you’ll see what this means for the future, and you’ll figure out whether to invest in “meta” or not.
What is Cardano?
If you’ve heard about cryptocurrency, Bitcoin (BTC) might ring a bell. That’s because it came out in 2009 as the first crypto ever. More of them came out ever since its launch.
Cardano (ADA) is one of the cryptocurrencies that came out after bitcoin. It started in 2015 when Charles Hoskinson and his team decided to make a new one from scratch.
Bitcoin was open-source, allowing everyone to tweak it and release it as a new cryptocurrency. That’s why their blockchains or crypto networks used a similar model called proof-of-work.
It allowed people to confirm transactions on the system to earn more cryptos. Unfortunately, this used a lot of power, and those with powerful computers began to earn more than everyone else.
Unlike other cryptos at the time, Cardano used the proof-of-stake model. It works like a savings account where you set aside some coins to earn more in the long run.
That way, people wouldn’t have to use so much electricity to mine the coins. What’s more, Cardano has several nifty features, such as:
- Decentralized applications – Otherwise known as dapps, you may think of them as regular apps, but they get new features from blockchain tech. For example, NoteRiot is a note-taking dapp that gives more privacy than other apps.
- Smart contracts – Cardano provides smart contracts, agreements that execute themselves when their conditions are met. They are especially useful in banking because it doesn’t need signatures from various people to work, unlike the current system. That’s why they’re important in decentralized finance (DeFi) apps.
- Non-fungible tokens – You might have heard about them as digital art selling for millions of dollars, but they’re much more than that. NFTs are just a way to record the ownership of something on a blockchain. For example, plots of land in Pavia are NFTs, so each is unique for each buyer.
Recent updates to Cardano
The Cardano Foundation proved the real-world use of ADA last year when it helped Ethiopia track student performance. Since then, Cardano has gone through various upgrades.
On August 13, 2021, the Cardano network released its latest upgrade. It was an Alonzo hard fork called Alonzo Purple, enabling smart contracts for the Cardano network.
Now, Cardano is on the Basho stage of its roadmap. It will allow the network to accept more users by introducing sidechains, networks outside the main one.
Read More: Which Is Better, Cardano or Ethereum?
What is Pavia?
Photo Credit: www.pavia.io
Have you ever wondered why this network is called Cardano? Hoskinson named it after the mathematician Gerolamo Cardano who was born in Pavia, Italy.
That’s also how Cardano’s new tech world got its name. Pavia is yet another virtual world that follows the growing Metaverse trend. It kicked off when Facebook changed its name to “meta.”
That’s because Mark Zuckerberg’s company wants to make this idea come true. It involves turning virtual worlds into places you can visit in real life.
You can find so many crypto networks helping this goal, such as Decentraland and Sandbox. Now, Cardano is a newcomer to the trend with Pavia.
🚀 Cardano Backed Metaverse Project Pavia’s Land Price Skyrockets via @newsbtc https://t.co/c59gdeZm0R
— Pavia.io (@Pavia_io) January 22, 2022
Like the other two, you can create a character for yourself and buy land there. Yet, Pavia sets itself apart by letting users put more detail in their look.
What’s more, your space doesn’t have to be a bland plot of land. You can buy different terrains, such as sand, sea, deep sea, mountain, and forest.
Moreover, Pavia has a native cryptocurrency built on the Cardano network. They’re called PAVIA tokens, and you get them after buying land from the VR space.
It had two land sales at the time of writing, and the last one should happen sometime in 2022. You could buy some as a secondary sale on the CNFT Marketplace.
If you just want to get PAVIA tokens but no land, you could get them from MuesliSwap. It’s a decentralized exchange (DEX) platform, so you should learn all about it before investing.
How can I invest in Pavia?
🚀 Cardano Backed Metaverse Project Pavia’s Land Price Skyrockets via @newsbtc https://t.co/c59gdeZm0R
— Pavia.io (@Pavia_io) January 22, 2022
Buying lands in a VR space may seem silly, but big brands are getting into it now. For example, you can find the Korean tech store on Decentraland in Samsung 837X.
Meanwhile, the fitness brand Nike launched Nikeland on Roblox. Regular folks like you could also invest as well. Here’s how buying virtual lands usually work:
- Get a crypto wallet such as MetaMask so that you can store cryptos. For the best security, get a cold wallet.
- Choose the virtual world where you’ll buy land.
- Visit its NFT marketplace.
- Once you’re there, connect your wallet to it.
- Pick an area you want to buy.
- Follow the marketplace’s steps to confirm your purchase.
Besides Pavia, you could invest in Cardano and its native crypto, the ADA token. At the time of writing, the ADA/USD price was $1.08. Here’s how you can buy some:
- Head to crypto exchanges like Binance or Coinbase.
- Create an account for it.
- Link your bank account, credit card, or debit card. You’ll need it to buy your first coins.
- Follow its instructions to verify your account.
- Now, you can buy your first ADA tokens. Check the price you’ll get in your purchase. Note that crypto prices change frequently.
- Confirm your purchase with the payment method you like.
- You should see your new ADA tokens in your account.
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Final thoughts
The Cardano price reached an all-time high of $3.10 on September 2, 2021. Sadly, some folks might be turned off by it right now. At the time of writing, the crypto market was crashing.
Investors see this as a great time to buy more coins! Once the market goes up, their coins will go up in value too. Then, they could sell them for more money.
However, you should be careful before investing in Pavia, Cardano, or any other asset. Plan carefully, and learn all you can think about them before starting.
Fortunately, reading more Inquirer USA articles can help with that. Those will show you the latest trends, from crypto to everything else going on around the world!
