Explaining the Infiniverse Land Auction

Recently, we announced the Infinicoin (INF) snapshot date. It will be taken on the 26th of November, at 00:00:00 UTC, with the airdrop taking place within 24 hours after the snapshot. As soon as the airdrop is done, the Infiniverse land auction will open! Many users have had questions about the mechanics of the land auction, so in this article we will explain all of the details.

Land in Infiniverse represents the digital layer of a real-world location. It gives the owner the exclusive right to place persistent digital content in that location. It is defined by four values, the latitude of the north edge, the longitude of the east edge, the latitude of the south edge, and the longitude of the west edge. Initially, land is subject to the following restrictions:

• Every piece of land is rectangular in shape, with its sides facing north, east, south, west.
• The maximum length of any side is 1000 meters.
• Land cannot be registered above 85 degrees latitude or below -85 degrees latitude, due to difficulties displaying these areas on a map.
• Land that crosses the antimeridian cannot be registered, that is—the longitude of the east edge cannot be greater than the longitude of the west edge, in order to simplify land intersection algorithms.

Currently, land represents only outdoor locations, not indoor, due to the difficulties of accurately tracking a user’s position indoors. Therefore, if a user registers land where a building or other structure is standing, their land represents the roof, or area above the structure, not the inside. In the future, we plan to allow indoor locations to be registrable as well, once indoor positioning can be accurately tracked.

Initially, there is no restriction on the height of a land. That is, land owners have the right to build on their land as high as they wish. However, as this can cause issues with skyscrapers blocking the view of other content (just as in the real world), this is subject to change. In the future, land parcels may be limited to a maximum height, or land owners may need to pay a fee to build above a certain limit.

Land has a yearly registration fee, just like domain names. The fee is initially set to 1 INF per square meter of land, although this may change in the future. This is implemented in order to avoid land hoarding. However, land owners have full rights to sell or rent their land to other users, for whatever price the market decides. While there is no minimum land length, the registration fee always assumes that each side is at least one meter, in order to avoid potential abuse.

In general, all available land is immediately registrable by paying the one-year registration fee. Users can register land around them using the Infiniverse iOS and Android AR app (due to be released in early December), or they can register land anywhere in the world using our online tool which integrates with Google Maps (launching next week!).

However, during the first week after launch, land will not be immediately registrable, but will instead be subject to an auction. This is in order to give the most sought-after pieces of land to the highest bidders, rather than the quickest clickers. In the land auction, users will be able to drag a rectangle on a Google Maps interface and bid on a piece of land. The initial bid price is the same as the registration price: 1 INF per square meter.

Other users may then outbid them by increasing their bid by an extra 1 INF per square meter. They may also draw a new rectangle, which contains an existing bid plus some additional land area, giving land seekers a lot of flexibility. However, if a new bid overlaps with an existing bid, it must completely cover it, otherwise it will be invalid. Users that are outbid will receive a full refund.

The land auction ends one week after it begins. At this point, all pieces of land that have not been bid on will be available for immediate registration. However, land that has been bid on will not be awarded immediately after the auction ends. Instead, each land item is awarded after it has not received a higher bid for 24 hours. This is to avoid “auction sniping”, where a user outbids in the last few seconds.

After one year, the auction winners will need to pay only the base registration price to re-register the land, rather than the higher price they paid in the auction. Any land plots that are not re-registered by the owner will expire and be put up for auction, with the amount paid beyond the registration fee going back to the previous owner.

We hope that this information will prepare people for next week’s land auction launch. If you have any questions, feel free to stop by our Telegram channel. If you are not among the almost 16,000 accounts that have already air-grabbed INF, there are just a few days remaining to double your airdrop allocation. We look forward to welcoming everyone onto our live platform next week!

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