Polium, a company that markets itself as “building the products and infrastructure for Web3 games,” said it is releasing a game console that will support multiple block chains and non-fungible tokens (NFTs).
Announced Monday, the “Polium One” console has been announced for its initial release in Q3 2024 and will support Ethereum, Solana, Polygon, BNB Chain, ImmutableX, Harmony, EOS, and WAX chains.
Currently, the only specification listed for the console is that it will support 4K Ultra HD resolution at 120 frames per second. Polium says his community will help them build console hardware and software and states that he will have a functional prototype in “a few months”.
According to Polium, the console will have its own crypto wallet, and the console will have a wallet button for users to perform trades more efficiently. Security and transaction verification will be enabled from the console via the fingerprint scanner on the console.
The console’s price is unknown, but Polium plans to release the Polium Pass NFT, which will allow owners to claim the console on its initial launch day. Pass holders will get another NFT, which in the future can be stored for a PLAY token, the console’s native token for transacting on its Marketplace app.
Polium plans to release 10,000 consoles to Polium Pass holders and partners in the initial launch for the third quarter of 2024, with more units manufactured for the public in the third quarter of 2025. It has set a goal of selling over one million units.
The company has already received criticism for its logo resembling another popular console, the Nintendo GameCube. Polium said it has not copied the logo and is already creating a new “this is original” logo.
Chinese tech giants to verify identity before buying NFT
Players in China’s NFT industry and the country’s largest technology companies have signed an agreement to verify the identity of users who use collectible digital trading platforms, according to a report Monday from the South China Morning Post.
A document called a “self-discipline initiative” was signed by companies with a share of the NFT market in China, such as JD.com, Tencent Holdings, Baidu and digital payments platform Ant Group, a subsidiary of Alibaba Group.
The document was published on June 30 by the China Cultural Industry Association, and while not legally binding, it calls on companies to “require real-name authentication for those who issue, sell and buy” NFTs, and “only support legal tender as the currency denomination and settlement currency.” .
The initiative also seeks companies to promise not to create secondary markets for NFTs to combat commercial speculation.
NFTs are growing in popularity in China, and collectible digital platforms have grown 5-fold in just four months from February to mid-June 2022 despite multiple warnings from the government.