Many projects use NFTs to create plots of land, but very few of them use our good old planet for support! This is the case of Etherland which aims to achieve a "Fantasy real estate" using Non-Fungible Tokens.
When someone is planning to build their house, one of the first things to do is to consult a centralized register where all the information relating to the land can be found. This register is called a cadastre and seeks to resolve two major issues: how do you know who owns a piece of land and what are its territorial limits?
This invention dates from 1807 and was put in place by Napoleon in order to better manage the land in France. Today many countries use such a system, but the whole planet certainly does not! Those who do not use a cadastre continue to use a very popular method: publicly displaying the sale.
This way all the neighbors are aware that a sale has taken place and no one can be deceived. But although this way of communicating a sale is a good example of decentralization, many questions remain unanswered and this is the reason why Etherland wanted to develop a turnkey solution.
To avoid any misunderstandings that may surround a sale, several elements must appear in the register: size, soil quality, exposure to the sun, humidity level… but this is not always enough!
Faced with data that can be falsified, nowadays the addition of photos or videos must supplement the claims of the owner. Having to add so many supporting documents to the file further complicates a task that was already cumbersome.
Because of this data needing to provide more and more, a majority of owners decide to do without the cadastre to ensure the sale of their land peer to peer. This therefore leads to a problem of trust in the data transmitted… and this is where the use of the blockchain comes in.
In an attempt to solve this problem, the team behind Etherland first started the Fieldcoin project in 2018 around identifying land all over the world in order to provide the most comprehensive registry possible. By mixing information between the real and the virtual, the project has had a new identity in order to be able to integrate even more functionality into the project: addition of photos, international coverage, monuments …
Thanks to the fungible ELAND token and NFT LAND IDs, Etherland aims to develop a real ecosystem through the creation of its own metaverse modeled on planet Earth.
To be able to upload and exchange this information in a tamper-proof manner, Etherland will therefore create a marketplace where each LAND ID can contain the following information:
Big Ben will therefore have the following identification: GB.L.M.L.1 pour Great Britain / Landmark / Monument / London / 1. The LAND ID being the NFT of the Etherland project, it may contain important messages or photos so that buyers can have all the important information relating to the purchase or sale of land just a click away!
The purpose of this identification is to be able to identify the land in a register which bears the name Estatepedia and will be checked precisely by the Etherland team before being minted.
To encourage eco-responsible behavior, LAND IDs offer their owner another possibility: an ELAND distribution proportional to the field eco-score.
ELAND is the utility token of the project and has been distributed to former Fieldcoin owners in order to capitalize on the already existing community. It is now possible to obtain it directly on the Uniswap platform and its purpose will be to maintain a network secured by its owners.
Since March 16, Etherland has announced its mobile application using augmented reality to promote the possibility and ease of having an NFT in its wallet to as many people as possible. A treasure hunt takes place to find LAND IDs which may be hidden near you!
If you find one of the LAND IDs, it will mean that you are the happy owner of an NFT obtained as a reward for completing a quest. By entering into this logic of play to earn, Etherland approaches a virtual world where ultimately the goal is to be able to claim any location on the planet, allowing virtually everyone to possess famous monuments or the quarry of its neighbor.
In addition, by being the owner of the NFT linked to the desired location, you will be able to upload the photos and videos of your choice so that the content is then checked by expert teams. This is, for example, what happened with the most famous monuments or locations around the world:
The ability to claim any piece of land is announced for Q2 2021, so that’s when the real creation of this multiverse will come. By offering this possibility to interact with reality through NFTs, Etherland is part of an emerging trend to find concrete use cases on a daily basis.
Etherland is an ambitious project which seeks to respond above all to the problems encountered by rural landowners but now aims to extend to a wider population such as city dwellers and historic monuments in cities.
This kind of use case which aims to bring together the real and virtual world will continue to develop in the coming years and with the experience obtained thanks to the Fieldcoin project, the teams behind Etherland therefore have some experience of the universe of blockchain and more recently, NFTs.
New features should emerge in the coming months, such as the implementation of a mobile application or the update of their marketplace. It is likely the beginning of a new virtual world that is being created as an overlay on our real world and no longer the metaverse that we are used to seeing in markets dedicated to video games and entertainment.
Maybe in the long term this will replace the centralized administrative tools which have in some cases become obsolete. Either way, Etherland is 100% focused on utility!
Disclaimer: This is a sponsored article. No content or article should be considered as financial advice. We strongly recommend you to conduct due diligence and always do your own research before investing in a project.
Collectible · · 2 min
The French car brand Renault continues its NFT adventure with a new drop: RACING SHOE5. What's under the hood?
Written by besancia · 05/12/23
© 2018 - 2023 NonFungible Corporation
All rights reserved.