NetVRk, a cross-platform AI and Web3-driven metaverse, unveiled the alpha version of its platform for building virtual worlds with Unreal Engine 5.

The release integrates an innovative Language Model (LLM) and AI technology to enhance digital interaction, enabling players to interact with AI characters and build relationships while also enabling players to earn rewards using AI companions as non-fungible token (NFT) assets, with the ability to customize, own and trade them.

In some ways, it feels like this announcement is a few years past its prime, as metaverse hype peaked in 2021 and 2022. Since then, it has died down, but there are some determined companies that are still trying to make the metavese work.

I asked Michael Katseli, cofounder of NetVRk, in an interview how he thinks about the metaverse. He said the alpha version of the NetVRk metaverse has multiplayer game play, as well as a framework for decentralized autonomous organizations (DAOs) based on the blockchain, and it will be accessible for Web2 audiences too. It’s also focused on high-end graphics based on the Unreal Engine 5 game engine from Epic Games — something he believes will set it apart from what has come before.

The platform also features new digital non-player characters, or NPCs, equipped with emotional intelligence, including the capability to have short-term and long-term memory and reactions in real-time. The overall goal is to evolve NPCs into entities that are conscious of their surroundings, said Katseli.

“We are going to have the ability for people to use their NFTs and exchange them in a game in a virtual environment,” Katseli said.

He said you’ll be able to own your assets and be able to make money from them. He thinks of it as a world where people can monetize and play, without the need to become a technical developer with programming skills. He thinks of the metaverse as Fortnite, but on a massive scale, where you can make a living.

With this release, Glendale, California-based NetVRk (pronounced network) addresses the prevalent issue of user engagement within the metaverse by incorporating AI-powered characters from the onset, thereby catalyzing a dynamic and more interactive digital environment, Katseli said.

NetVRk’s said its metaverse brings together all the best game features in one truly Web3 environment, where users can purchase land and build anything, anywhere, anytime using a limitless creation engine.

Users can create immersive experiences and earn money from them. AI powers NPCs that think, talk, and act unscripted, while players have the freedom to create and shape their own characters’ stories, personalities, and destinies.

Players can dive into relaxing travel experiences aboard a yacht or engage in shooter gameplay, battling other players in a range of dynamic environments. You can party with legends and celebrities, as reality and imagination collide in this metaverse that’s far more than just a game.

This first-of-its-kind metaverse sets a new standard for the industry by seamlessly blending AI, limitless user-generated content, and true Web3 integration, reshaping how players engage, create, and monetize in virtual worlds, Katseli said.

“The alpha release is set to redefine user engagement, offering a spectrum of entertainment as well as emotional and educational support,” said Linus Chee, CEO of NetVRk, in a statement. “At the same time, we are paving the way for digital influencers and salespeople to surpass limitations of existing chatbot technologies.”

From the NetVRk token-powered marketplace, users will be able to enhance their AI companions, tailor their personalities, knowledge, capabilities and buy digital skins and assets. NetVRk is using AI and also integrating GameFi elements, with a special focus on multiplayer systems that embrace cross-chain blockchain functionalities, such as play-and-earn competition between players in NetVRk’s gaming arena.

The platform is committed to democratizing the creation of engaging, monetizable 3D experiences, making content generation within the metaverse as straightforward as inputting simple prompts or clicking a few buttons to generate monetizable experiences. This initiative is aimed at fostering a creative and economically vibrant community, where both gaming and business ventures thrive through user-generated content, Katseli said.

To amplify user engagement, NetVRk plans to host campaigns and competitions on social media platforms where users are encouraged to share their interactions with AI NPCs. The most viral content will be eligible for rewards in $NETVR and NFTs. This approach not only adds an exciting layer to the gaming experience but also connects the community in a dynamic and rewarding way.

NetVRk’s Mine Runner and Metaverse AI Alpha signify a new era in play-and-earn gaming, blending cutting-edge AI technology with blockchain innovation.

The company has about 14 people and it has raised $10 million to date from a mix of blockchain investors and others. And Katseli said the company has generated more than $20 million in revenue. The company started eight years ago, during the beginning of the virtual reality boom. Katseli was a mobile game developer in Israel before that, and he came to the U.S. to focus on VR. The company survived the pandemic and the rise of the metaverse and its subsequent collapse as well.

“My dad told me that, as a businessman, you can’t really be fixated on one plan,” Katseli said. “You have to always be flexible. Somehow, things aligned for us on the metaverse.”

Katseli showed me a demo of the virtual world that the company has built so far. The game has large spaces and some beautiful environments. You can create your own avatar and switch among different characters as you like. You can connect a Web3 wallet if you want to buy NFTs. The copmany partnered some years ago with Coolio on the metaverse project.

The company will provide tools to enable players to create their own user-generated content, but NetVRk will also provide its own foundation for the metaverse space itself to get everything going.

“People will have a creation engine, and they will be able to play and build in real time,” Katseli said, dropping down items in the environment as a creator. “We think people will be able to get together in this space as a social experience. Everything is real time with high fidelity.”

He said there will be a number of different biomes targeted at different groups.

As for comparisons to Fortnite or Roblox, Katseli said that the company is aiming for something that is more user-friendly. Rather than provide users with a game engine, it will provide them with a user-interface that is more like building things in The Sims. Eventually, Katseli hopes people will be able to use words to generate the worlds they want.