CoinMarketCap takes a deep dive into Kalao (KLO), a platform on the Avalanche (AVAX) blockchain that aims to build the future of digital and virtual worlds, through NFT and VR technologies.
Kalao (KLO) can be termed as an integrated ecosystem that is built on the Avalanche blockchain platform for decentralized finance (DeFi) and non-fungible token (NFT) services. It provides a mobile-friendly environment, with an easy-to-use AVAX-based decentralized exchange (DEX) for collectibles along with wallet integrating and staking capabilities.
How Does Kalao (KLO) Work?
The main purpose of Kalao (KLO) is to speed up the process at which VR technology works and create virtual worlds to support the digital transformation of businesses worldwide. All of this is achieved by Kalao (KLO) through a cost-effective and user-friendly marketplace that runs on the Avalanche blockchain technology, and comes with VR technology incorporated by Kalao.
The two main products on which the entire Kalao (KLO) system is based are known as Kalao Marketplace Engine and Kalao Gallery.
Kalao Marketplace Engine
Kalao has an NFT marketplace that is fully decentralized, scalable, secure, and comes with a variety of advanced features at a low cost. It is the hub where Kalao holders can collect, trade and secure digital collectibles (NFTs) that are available on the Avalanche blockchain protocol. The Kalao Marketplace Engine which is powered by the Avalanche blockchain allows the NFT marketplace of Kalao to offer an ecosystem that is:
- Fast & Secure
- Offers multiple types of auctions
- Charges low fees for buy/sell/trade transactions
- Supports X-chain and C-chain at the same time
- Rewards users who stay loyal to the NFT marketplace
The Kalao NFT marketplace is open to everyone who wants to display their NFTs to a large user-base for sale. These NFTs can be in the form of music, movies, books, paints, or any form of digital art. The unique feature of the Kalao NFT marketplace is that these NFTs can be sold directly from the marketplace without having to transition between different applications. Users also have the option to use Avalanche Creator-Studio to create NFTs and leverage them on the platform.
Contrary to many other NFT marketplaces, Kalao doesn’t store the digital assets of its user-base thanks to its decentralization feature. To provide an exclusive experience, all NFTs can be acquired from the Avalanche C-chain that operates the Kalao marketplace, which acts as a single hub to access all your NFTs.
The NFT creators, sellers and buyers are rewarded depending upon their participation in various activities on the Kalao NFT marketplace.
Kalao Gallery
Kalao Gallery is a virtual gallery that displays an artist’s NFT collection through its VR technology. A person that sees an artist's NFT creations will immerse themselves into a fully 3D virtual reality experience without needing a VR headset.
Kalao gallery offers preconfigured settings for 3D virtual rooms and galleries with the option to create a custom gallery from scratch. These virtual galleries support multiple platforms including smartphones, PCs and so on.
According to the official website of Kalao, the future use cases of VR technology will include real-world cases like live streams of concerts, gaming competitions, and virtual rooms where artists can communicate with each other and trade NFT’s through the Kalao NFT marketplace.
Unique Features Of Kalao (KLO)
VR Technology
There are not many NFT platforms that are offering VR technology for artists to come and display their art to the world in an interesting fashion. The Kalao Gallery’s VR technology has become a source of attraction for the NFT industry which is currently poised at $1.5 billion and growing at a rapid pace.
Single Hub For NFT Trading
An artist that wants to sell their NFT needs to go buy a cryptocurrency, get a digital wallet, add funds to their wallet, and then connect their wallet to a platform that supports NFT trading. The process isn't finished there as the user then has to upload their file and set up an auction after which bids will be placed and then the NFT will be sold.
However, with the NFT marketplace engine, most of the above-mentioned process is not required as the artists can simply upload their NFTs on the Kalao NFT marketplace that acts as a single hub for trading, selling, and buying NFTs which makes the whole process seamless and easy-to-use.
The Avalanche Studio is a great motivator for NFT creators as they can create NFTs and leverage them directly on the Kalao NFT marketplace. For a detailed guide on creating NFT's with Avalanche Studio, click here.
Real-World Use Cases
The technology offered by Kalao will allow event organizers to virtually stream their events to anywhere in the world. It will empower buyers to display their merchandise and accept payments from interested buyers globally.
Kalao (KLO) Tokenomics
The KLO token hasn’t been launched yet and a private sale application for the KLO tokens was offered in the last week of August.
The maximum supply of KLO tokens is 500,000,000, and the allocation is as follow: 45% reserved for community rewards; 20% delegated to the token sale; 15% reserved for the Kalao team; 12.5% to the ecosystem; 7.5% for the project advisors.
Kalao (KLO) Future Outlook
The Kalao (KLO) token can make a good start in the crypto market when it is launched due to the following reasons:
VR Technology
The VR technology is still not offered by many NFT marketplaces, which means that Kalao can bank on this feature as their signature offering and get a significant amount of NFT enthusiasts to sign up on their platform. This can have a major impact on the KLO token’s price in the long run.
Avalanche Effect
Powered by the Avalanche blockchain, the KLO token has the backing of Avalanche (AVAX), a token that doubled its price in one week and went on to reach an all-time high of $59.94. Moreover, Avalanche runs on its smart contracts-enabled custom blockchain, which many investors are looking for as an ecosystem token — often times dubbed as "Ethereum killers." This is seen in the recent exponential price run of these tokens, like Solana (SOL), Cardano (ADA), Polkadot (DOT) and even AVAX itself. Currently, the market is experiencing a dip, however, AVAX may rise again and if the KLO token is launched it may benefit from the price run as investors pile in to AVAX ecosystem.
NFT Success
The NFT market has surpassed $2.5 billion, and is poised to go even higher by the end of 2021. Many crypto analysts believe that NFTs and NFT-related products are poised to appreciate further in the near future, which will most certainly prove to be good news for the KLO token and the Kalao platform in general, if the platform becomes widely adopted by NFT traders, buyers and sellers.
At the end of the day, all predictions related to the KLO token are subject to market volatility, the performance of these features, and the competitors who offer similar features to the Kalao technology. Always DYOR before investing in KLO, or any other cryptocurrencies for that matter.
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