Lyca Nation proposes a virtual island for crypto fans

New Delhi: Lyca Nation (Lyca coin) has proposed to build a virtual island in the Metaverse dedicated to crypto enthusiasts. The company shared about its futuristic blockchain project in a whitepaper.

Lyca Nation is developing a real-world 7-acre island in Belize, which intends to qualify as a micronation. The crypto project is a blend of a real-world island and an island in the metaverse.

“The metaverse has the potential to disrupt the content creation process fundamentally. Crypto enthusiasts certainly needed their own space in the Metaverse. This is the actual Web 3.0, and we are hopeful of uniting the entire crypto community through Lyca Nation,” said Rahul Kumar, Co-Founder – Lyca Nation.

The micronation also plans to launch its level one blockchain called “Lyca Chain,” which will power various services, including crypto banking, crypto venture fund, cloud mining pools, real-world asset tokenization, blockchain university, crypto payment gateway, and a decentralized exchange.

It’s a virtual nation, where its e-citizens will get all the essential services, even though they will be physically apart but digitally united. Content developers will build their applications over it as an open-source technology product.

The virtual reality of the island will be more than just free will and governance. Green concepts like sustainability, carbon neutrality and innovation will lead to its future economic growth. It expects to get recognition from United Nations in the next 24 months.

“We plan to take all requisite steps to convert our micronation into a full-fledged nation supporting crypto banking and other advanced financial products,” added Prashant Tandon, Co-Founder – Lyca Nation project.

Lyca Nation is the brainchild of Rahul Kumar, Sanchit Mehra, and Prashant Tandon. Lyca coins are currently trading on Pancakeswap and BitLux OTC exchange.

The project is currently commanding a market capitalisation of US $150 million which the pundits believe will increase many times over depending on timely achieving its goals.

Lyca Nation’s whitepaper talks about a futuristic world that will merge the physical world with the virtual world. Technically, Lyca Nation is the first island project in the metaverse.

“Lyca Nation is going to be the extension of the physical world into a boundary-less virtual world. In this virtual world one will be able to choose an exotic location to meet with the body shape or colour of your choice, you will be an avatar with emotions in a digital space,” added Sanchit Mehra, Co-Founder – Lyca Nation.

It is also eyeing Initial Exchange Offering (IEO), similar to IPO on the exchange. The company plans to raise $50-70 million to finance this futurist micronation project in the Metaverse.


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