Introducing Ible City Blocks: A New Opportunity for Virtual Land Ownership and Governance
Discover how Ible City Blocks fit into the Ible City ecosystem and learn about the exciting governance rewards and lottery promotion.
Ible City, a groundbreaking cross-chain virtual city built on Algorand, Polygon, VeChain, and Ethereum, is excited to announce the launch of its latest offering: Ible City Blocks. These unique digital assets provide an affordable entry point for users to own a piece of virtual land in Ible City and have the chance to take part in its governance system. This article will explore the structure of Ible City Blocks, their role within the larger Ible City ecosystem, and the exciting governance rewards and lottery promotion tied to these new assets.
Ible City Blocks: Expanding Virtual Land Ownership
There are a total of 16,000 plots of land in Ible City. Claims to 12,000 of these plots of land have been minted and sold on Algorand, Polygon, and VeChain. With 4,000 plots of land still left to be claimed, Vendible wanted to allow expanding the community while maintaining the same level of benefits for all.
We have divided the remaining 4,000 plots into 70 shares per plot to achieve this. We call these shares City Blocks. Three thousand plots of land will be minted on Algorand as City Blocks, totaling 210,000 City Blocks. The remaining 1,000 plots, or 70,000 City Blocks, will be divided between Polygon and Ethereum.
With a total of 210,000 City Blocks minted on Algorand, Ible City is providing users with a more accessible way to own virtual land within the city. Of these 210,000 blocks, 50,000 are reserved as a reward for the first 50,000 testers of Trustible, leaving 160,000 City Blocks for sale on Rand Gallery. This expansion of virtual land ownership allows more users to engage with the Ible City ecosystem, hold long-term value, and participate in the city’s growth.
Ible City Blocks: Rewards
Each Ible City Block comes with a claim to a city block in Ible City. A City Block is a small plot of land. 70 City blocks make up one entire plot of land. The best part is that these can be merged to create one whole land plot, releasing rights to an Ibler, a PFP of a citizen of Ible City.
Each City Block comes with one NFT that provides free lifetime protection in Vendible’s product Trustible. Trustible protects your private keys and assets from loss across all major blockchains. Trustible will also offer a complete view of your cross-chain activity, P2P beneficiary services, add-on insurance, and other trust and planning services. A lifetime protection account in Trustible is USD 240, a tremendous value. You can purchase multiple City Blocks to collect these NFTs to give to friends, sell through a marketplace, or stake in Trustible to gain passive revenue share when they sell a protection account.
Holding an Ible City PFP, an Ibler, and a City Block allows you to upgrade your land, host events on your property, make requests or proposals to the governance council or participate in general votes.
Owning a City Block also gives you exclusive events for Iblers, including the Friday recap with the Vendible team. This event is a weekly open session with the team to hear about progress, ask questions, and learn about what’s next for Vendible and our network.
Governance Rewards and Special Seats
The Ible City governance system offers special seats for top holders of Ible City, with 12 Diamond High Council, 40 Gold Senate, and 120 Silver General Assembly seats available. 8 Diamond, 30 Gold, and 80 Silver City Blocks will be distributed to the top holders of Ible City (including Including Ible City NFTs and Ible City Block NFTs). These seats will be allocated based on users’ rankings on registration.vendiblelabs.tech, with a unique ID verification, required. The remaining 4 Diamond, 10 Gold, and 40 Silver City Block governance NFTs will be distributed as part of a lottery connected to the Algorand City Block sale detailed below.
Governance rewards, paid in VEND tokens, include payments for citizen requests, property upgrades, and events. These rewards offer a valuable incentive for users to participate in the city’s decision-making process and maintain their governance roles.
The Lottery Promotion: Win Prized Governance Seats
To further encourage user engagement, Ible City is introducing a lottery promotion based on the number of NFTs sold. Users can win Diamond, Gold, or Silver governance seats through a series of draws as NFT sales milestones are reached. Since each City Block NFT is a ticket into the six lottery rounds, you have multiple opportunities to win these sought-after governance seats with each purchase.
By introducing this lottery promotion, Ible City aims to attract a wider audience and incentivize users to participate in the virtual city’s governance system.
Below is the drawing schedule
- The first draw: 15,000 NFTs sold — 6 silver
- The second draw: 20,000 NFTs sold — 6 silver — 1 gold
- The third draw: 25,000 NFTs sold — 6 silver — 2 gold
- The fourth draw: 30,000 NFTs sold — 6 silver -2 gold — 1 diamond
- The fifth draw: 35,000 NFTs sold — 6 silver — 2 gold — 1 diamond
- The sixth draw: 35,000 NFTs sold — 10 silver — 3 gold — 2 diamond
We will host a random drawing of account addresses with each milestone. If you earn one through your rank and win a drawing or win multiple drawings, you will be able to sell the additional governance seat(s) through Trustible for a premium as this asset brings the holder ongoing VEND rewards above the existing land-owner rewards for as long as they hold the governance NFT.
Conclusion
The launch of Ible City Blocks represents an exciting development for the Ible City ecosystem, as it allows more users to own virtual land and participate in the city’s governance. With the addition of governance rewards and the lottery promotion, users have even more reason to engage with the platform and help shape the future of Ible City.
Join the Ible City community now and explore the possibilities of virtual land ownership and governance in this innovative and ever-evolving virtual city.
