The Infiniverse Land System
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. Land plots are rectangles which face north, east, south, west and are 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.
Compared to land in the original EOS launch of Infiniverse, there are two key differences:
- Land is now represented by an NFT, and land ownership is for life. There are no longer any yearly registration fees.
- Land plots are no longer arbitrarily drawn rectangles, but rather predefined plots, which can be seen when zooming in on the land map. Each land plot has a north-south or latitude length of two seconds and an east-west or longitude length of three seconds. This results in each plot having an area of approximately 5500m² at the equator, gradually reducing in size going towards the poles.
Infiniverse Land Distribution
The Infiniverse land distribution will take place in three distinct phases.
- Infiniverse Land Mint
- Infiniverse Land Auction
- Infiniverse Land Sale
Infiniverse Land Mint
The first phase will be a Solana NFT mint. Infiniverse will preselect 5,000 curated individual land plots which will be placed in the mint. The plots available in the mint will be visible on the land map prior to the mint. The price and date of the mint will be announced when the mobile app port is almost ready.
Each user that mints during this phase will receive a random land NFT from the 5,000 pre-selected plots, PLUS a token which will allow them to freely start a bid on a land plot of their choosing in the land auction, or pick a free land plot of their choosing in the land sale.
The 5,000 plots that are purchased in the mint, plus the 5,000 plots that are selected from the extra token in the mint will make up the 10,000 Infiniverse plots which have special governance rights, and will in the future form the Infiniverse DAO. The goal of Infiniverse has always been to eventually be a completely decentralized project, a metaverse on top of the real world, that depends on no single person or central authority.
The Infiniverse land mint will be full of prime real estate from all over the world. It will give users the opportunity to receive top land plots, without having to outbid for them in the land auction, in addition to a land plot that they will pick themselves. It will also be the only way to get one (actually two) of the 10,000 plots with governance rights.
Infiniverse Land Auction
The Infiniverse land auction will come soon after the mint is complete. During that time, all plots that were not in the mint will be open on the map for users to be able to bid on, with a fixed (to be determined) starting price. While many prime locations will already be taken in the initial 5,000 pre-selected minted land plots, just as many will surely remain available for the auction.
Users with the mint tokens, will be able to use their tokens to start a bid instead of paying the starting bid in SOL, and if they win the auction, that land plot will become one of the 10,000 governance plots.
The auction for each plot will last for 7 days after the initial bid on the plot. After the auction time is over, plots will not be awarded until 24 hours have passed without any new bids on that particular land plot. Therefore, auction sniping will not be possible. The Infiniverse land auction will last until there is a minimal number of new plots being bid on.
Infiniverse Land Sale
Finally, after the Infiniverse land mint and land auction are complete, the land sale begins. All remaining plots on the map (except those on which the auction bidding process is still ongoing) will be available for immediate purchase. Users that still have their mint tokens, and did not use them during the auction, will be able to use them at this time, in order to get free plots, and turn their land plots into one of the 10,000 governance plots.
What about EOS users?
In the original EOS launch, land plots were not purchased but instead registered for one year periods, just like domain names. All land registrations have technically expired, however that does not mean that we are going to forget about our EOS users, as they were our early supporters and enthusiasts.
We cannot continue the land plots registered on EOS for several reasons. Namely, because of the different system: what is now one land plot could potentially have dozens of arbitrarily drawn plots in that same area in the original system. In addition, for Infiniverse to have any chance at resurrecting, the land mint and auction need to be a success, which would not be possible if the land map is already filled with plots which were only one year registrations. However, EOS users that had registered land will be getting free plots in the land mint, according to a formula we have come up with.
We have calculated the amount of square meters all EOS users had registered. All users that had at least 500 square metres will be eligible to freely take part in the mint. The formula is as follows:
Number of Free Mints = Square Metres of Land / 5,000 / 2 (rounded).
We are using 5,000, as an approximation for the area of land plots (as mentioned above they are 5,500m² at the equator, gradually reducing in size going towards the poles). The value is then halved because all minters get the minted land, plus another land of their choosing with the extra token. Finally, we are rounding, but all will be rounded up to at least one, which means that even those with only 500 square metres registered will still get one free mint.
As a result, EOS users will receive approximately the same amount of land in terms of square meters that they had registered originally, but instead of being one year registrations, they will be permanent land ownership! In order to receive your free mints, EOS users will need to join our discord and DM their EOS accounts before the (to be announced) mint date. Users may be asked to prove their ownership of the EOS account. We hope that the majority of our EOS users will be understanding of rules we have come up with and be ready to support us once again!
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