Everything you need to know about buying land parcel in Somnium Space.
In our recent article we have discussed whether it makes sense to buy virtual reality land parcel for real money. We hope your answer was YES therefore here is everything you need to know about the process of actual purchase.
First, let us cover all basics. Somnium Space is an open, social & persistent virtual reality world. For today’s article it is vital to discuss what actually “persistent” means and why you should care.
Persistence of Somnium world is a way of how your world is being generated to you at any given moment of time. Unlike majority of other VR worlds, where you are presented with limited (sometimes big but still limited) instances, Somnium Space exist in one seamless instance with all players all together thanks to it’s hybrid server technology. That means if you go somewhere in that world you will experience the same thing as anyone else. Moreover, you will never experience any loading screens while walking through the world.
Now with that in mind let us dive deep into how big the world will be, and what kind of land parcels will there be for sale.
Our world expansion will be divided into so called Phases. Current Phase 1 is approx. 3 square kilometers or approx. 1.15 square miles big. This allows us to offer more than 3000 land parcels of different sizes for sale. Talking about sizes of parcels — we are currently offering 3 sizes: small (200 square meters), medium (600 square meters) and large (1500 square meters). Each size has its own initial height limitation. This is mainly made to avoid people building unnecessary tall spammy structures which will destroy your view. Also, there is a distance between each land parcel in Somnium Space to enable seamless moving around. Nevertheless, if you are really serious about building tall structures you can always purchase additional height. Please note, that higher you build — bigger price jumps are.
Somnium Space world starts at Somnium Waypoint. A centerpiece of our universe. It all began there and that will be a spawning point for all new coming avatars. That naturally means, that closer your land parcel is to center of Somnium universe — more visits / views / interaction your land parcel will get, meaning better chances to monetization. Somnium will offer many out of the box monetization options giving you an ability to earn money right from the very beginning.
So now let’s talk about how and when you will be able to buy virtual land inside Somnium Space. Since for every Phase there is a limited number of parcels available, each time it will be offered to players for purchase via auction during our Land Offerings. Out Initial Land Offering will be held later this year. Date and time will be announced upfront to give an opportunity for everyone to properly prepare. At a given date and time gates for auction will open and players will be able to place their bids for single parcel or for several parcels at once. In case of bidding for more than one parcel, you will have to place bid for each parcel separately. Additionally, players will be able to choose if they want to win those slots in “all or nothing” mode. One more interesting fact to remember — in case you win more parcels than one, you automatically get for free all the buffer land which was in between those parcels and you are free to build on it too.
Good news is that Somnium Space is currently running a crowd-invest campaign where people can buy real shares of Somnium Space Ltd. company with full dividend and voting rights. Moreover, if you buy as low as 15 shares (16 GBP each) you will receive a free small land parcel as a bonus. Each investor will have an opportunity to claim and choose his / her parcel few days before public ILO will happen, meaning securing best spots. In case investor wants to sell his land, he can claim a spot and directly select this parcel back for sale during ILO. Whatever this land will be sold will be given back to player minus small transaction fee for Somnium.
To sum up today's article and a whole Land purchase situation we can only say that response to our crowd-invest campaign was overwhelming. After 1 day of campaign being live we are already at 43% and climbing! Thank you very much for your support!
Thank you for your time and see you on the other side!
Somnium Space team.