Lost Worlds — bringing NFTs to the real world
As I was researching promising projects, I found a gem I thought worth sharing with my readers. This gem revolves around NFTs, but with a unique twist: Lost Worlds is the first platform offering NFTs anchored in the real world! One can mint the NFT only if they are physically at the spot it is associated with. Geo-location: the “real world” is making its comeback in the crypto/Web3 realm.
Portals NFT — the first collection on Lost Worlds
As an introduction to the Lost Worlds platform, let’s have a look at the first project to launch on its infrastructure. Portals is an NFT series whose artwork reproduces some of the world’s most iconic landmarks:
- The Empire State Building — New York City
- The Louvre — Paris
- The Brandenburg Gate — Berlin
- The Golden Gate Bridge — San Francisco
- Hagia Sophia Mosque — Istanbul
- Gardens by the Bay — Singapore
At each landmark you will find 1,100 Portal NFTs with various Portal rarity levels. The most plentiful reality being the common world and the rarest being Utopia [Ref].
Geo-located minting
What’s unique about Portals NFTs is that you can mint them only if you are physically at the landmark, within a preset radius. So in order to mint the Golden Gate Bridge NFTs shown in the picture above, you will have to get to San Francisco, within the vicinity of the bridge itself, with your device’s geo-location feature turned on!
Secondary Marketplace
Even though Portals encourages one to travel to the landmarks in order to mint the NFTs, you will of course be able to buy, sell or trade them on Lost Worlds’ secondary marketplace.
Earning with Geo-located NFTs
Portals is not only appealing to the hardcore NFT collector. Thanks to the Lost Worlds platform, Portals has features in place that allow its users to earn when using the platform, bringing “Pokemon Go meets Play 2 Earn” vibes to it.
Here are the various ways to earn rewards in the from of LOST tokens, the native token of the platform:
- Minter Rewards: physically traveling to a landmark and minting the NFT.
- Marketplace Rewards: trading (buying or selling) NFTs on the secondary marketplace.
- Big Paydays: these are rewards associated with challenges. The most simple ones consist of collecting Utopia cards or getting at least one Portals NFTs from each location.
The next one is probably my favorite and will probably have me run to the Louvre museum, in Paris, France, to be the first minter there:
- Mint Dividends: Minters can be paid a dividend on mints that happen in a location after their own mint.
That means the earlier you mint, the more dividends you can earn. Of course future dividends are paid to the new owner if the NFT is traded. This means that as long as there are unminted NFTs at a location, the first NFTs minted there will have more value on the secondary market than the next ones.
- Minter Royalties: if a minter decides to sell their NFT, they keep the rights to a royalty paid any time the NFT is traded again in the marketplace after this first sale.
You can already imagine how positive an effect these two features, Mint Dividends and Minter Royalties, will have on the secondary market. I’m expecting a very active and lively market!
Portals NFT looks like a very promising project and it will certainly be a showcase of the many possibilities offered to creators by Lost Worlds. Let’s have a look at the kind of projects that could leverage Lost Worlds’ Geo-Location minting features…
Lost Worlds — A platform for creators
The imagination of the creators is the only limit as what can be done with geo-location. Here are a few use cases from Lost Worlds’ whitepaper.
- Series and 1 of 1’s: artists can integrate locations in their creations and artistic expression, just as Sam Hughes, the designer of Portals NFTs, did.
For example, artists who have creations in the real world can offer their audiences NFTs for visiting their artwork in person.
Another obvious use would be the possibility for street artists to create NFTs mintable only at the location of their work of art (and earn royalties from it).
- Games: Game creators can introduce real-world parameters into their games.
Portals NFTs is an example of a project that fits in both categories above, but one can imagine many more possibilities. One I’m sure will achieve success is Brands:
- Brand Activations & Events: businesses of all kinds can rely on Lost Worlds’ technology to create their “Digital Storefront”. Just imagine the level of engagement that can be reached when your shoppers run to your physical store to be able to mint one of the first NFTs dropped there!
What’s more, the said NFTs could give access to unique discounts or items (clothing, tickets, merch…).
Once again, the imagination of the creators is the only limit here. The above examples are the ones that come to mind immediately, but some more exotic ones can be found on Lost Worlds platform, like:
- Location Generative NFT Projects: where location would be one of the characteristic taken in account to determine the rarity of the NFT in a series.
- Location Based DAOs: now this one really opens up a world of possibilities on its own. The anti-spoof technology of Lost Worlds could provide a way to introduce geo-location in governance tools and bring local communities online in the form of Decentralized Autonomous Organizations (DAOs).
Let me conclude this section by saying the platform was designed so that creators could easily build on Lost Worlds using a set of templates. There is also a set of tools called the Lost Layer for enterprises and communities to build their own sub-ecosystems on top of the Lost Protocol, akin to a white label solution.
$LOST token
The Lost Worlds platform will have its own native utility and governance token (ticker LOST). LOST will be used for:
- Governance: token holders who stake enough LOST will be able to participate in the DAO decisions. Votes will cover many subjects like which projects are deployed onto the platform, and what use to make of the treasury (LOST emissions, staking rewards etc).
- Granting access to the platform: explorers will need to stake LOST tokens in order to participate in different projects of the platform.
- Building one’s own location based GameFi, DeFi, and NFT experiences: to become creators through the Lost Worlds Protocol, “users must pay a fee in LOST, which is deposited into the DAOs Treasury” [Ref].
- Platform rewards: using the platform to mint or trade NFTs will be rewarded in LOST tokens.
LOST will also have DeFi characteristics and allow stakers to earn rewards paid out in LOST tokens.
Public sale and IDO Data
Public sale
The public sale IDO will happen on Avalaunch. Registrations start on March 22nd and the IDO itself on March 28th.
IDO data
- IDO Price: $0.55
- Total Supply: 50,000,000 LOST
- Initial Market Cap: $1,075,000
- Blockchain Technology: Avalanche
References
Social medias
Website: https://lostworlds.io
Telegram: https://t.me/lostworldsnft
Twitter: https://twitter.com/lostworldsnft
Medium: https://lostworldsnfts.medium.com
Discord: https://discord.com/invite/hXus9zAu6m
Whitepaper/Code/Beta
Whitepaper: https://lost-worlds.gitbook.io/lost-worlds
Mainnet Beta: https://beta.lostworlds.io
Disclaimer
The Content is for informational purposes only. All Content on this site is information of a general nature. Nothing in the Site constitutes professional and/or financial advice. Always do your research before investing in any project.
