Land Ownership
Last updated
Last updated
Parcels of NetVRk land are sold to users as NFTs. Acquiring land enables users to develop and monetize their headquarters in the metaverse. Landowners will have creative freedom over their virtual property. They can build and deploy assets on their land, as well as rent and delegate their land to third parties, using a zero-trust system. Being a virtual landowner allows users to participate in the metaverse in several ways:
Landowners receive a share of NetVRk Marketplace revenue, as well as a share of NetVRk NFT royalties.
Landowners are able to participate in governance through the NetVRk DAO.
Landowners can deploy e-commerce storefronts, games, and experiences on their land, and monetize them.
Landowners enjoy the ability to rent or delegate their land to third parties in a safe, trustless manner.
In order to receive NetVRk Reserve distributions, Land must be staked and a participation requirement must be met to be compliant with known regulations.
Landowners can deploy advertising on their land to monetize user traffic.
Netvrk allows users to own "land" in the form of digital locations in the NetVRk universe.
Virtual places will also be tradable and purchasable by users with different forms and definitions of ownership for the buyer, renter, or seller.
You will also have the ability to "give away" or list for rent or sell your land and monetize it. This includes part ownership so you can enjoy the revenue from renting.
Users can buy virtual land and use it for a variety of purposes, including:
Users can spend time by themselves or host their friends in their virtual home. If they wish, they can also design with original, free, or paid content from the marketplace to give their personal space their own sense of style.
Example of personal use: Users could own a virtual 3D model of their "dream" house with an interactive movie theater to watch their favorite Netflix series with their friends. They could also host events that include displaying their NFT collection while streaming the music of their choice. There will be a collection of games that are available to entertain their friends during these events, both created by the development team and as user generated content.
The Venue System is a collection of tools and templates that provides landowners a variety of business models to employ on their land. This list will have a few templates at launch and is expected to expand greatly over time.
The first venue expected to be made available will be the storefront venue. This type will allow the owner the ability to put up items for sale, whether user generated content or NFTs owned by the holder, in a gallery or boutique store-like setting. To outfit the personal spaces outlined above, the expectation is that there will be many opportunities for store owners to provide the goods that users will desire to customize their experience.
A second venue setting would take the attributes of a music or entertainment venue, such as a nightclub or comedy club. This type would allow owners to collect admission, sell merchandise, and connect outside brands with the in-game world.
A third venue type will allow for quick linking to external websites to provide owners a way to bring NetVRk users directly to their products without having to leave the virtual world.
Future venue models will include certain game modes, with arenas and match hosting as part of the model. Because these venue types are more involved, we expect to release further information on these formats in future editions of the white paper.
A second opportunity for landowners is the planned Billboard System. This system will enable users in the world to quickly access goods and services they wish to utilize and reward the landowner who is hosting this advertisement on their land.
Landowners can host any of the commercial opportunities listed above or rent out their space to other entrepreneurs to allow them to make uses of these systems. A rental agreement system will help to secure the contracts between renter and owners, allowing terms to be set and monitoring the progress of the contract.
NetVRk land parcels can be purchased on Opensea.io at the following link.
