XYO World Q&A — Part III
It’s time to jump into the speculative portion of our XYO World Q&A series. (View part one here, and part two here.) Most of the suggestions highlighted here are ideas which we thought were intriguing or showed that the person who suggested it understands the concept well and put a lot of thought into how it might be deployed. By choosing to do this, you are our greatest asset.
Discussing these suggestions may not necessarily mean we’re going to adopt them, although we’re weighing them and we very well may. We’re open to your ideas, and we want you to be engaged with the process of creating this new XYO-integrated project.
If you haven’t read the preliminary rules for XYO World, or you haven’t exactly committed them to memory, you can reference them here.
Visual Instruction
Please distribute videos or infographics explaining the XYO World rules in a visual way.
This is the most requested feature of XYO World. It says a lot about how complicated the survey was when the biggest request is for more comprehensive documentation. We understand that massive blocks of text aren’t enjoyable or easy to read, so future documentation will definitely include visual media to make XYO World fun and easy to understand.
Globalization
Me encantaría tener estos formularios y toda la información de XYO en español, para el mercado mexicano. (I would love to have these forms and all the XYO information in Spanish for the Mexican market.)
We want for XYO World to be a worldwide product — it’s right in the name, after all. Spanish would increase our reach, especially in the Americas. Like XYO World, it’s definitely an idea worthy of further exploration!
Auction Monitoring
[I] would like a way to ID a quadtile up front so I can “shop” boundaries and monitor when it becomes available, or when its parent gets sold. I want to set a lead time notification to know when my favorite tiles will be coming up.
This is a really cool idea, not only incredibly well-reasoned and attuned to the product, but also something that the person who suggested it would like to use. It’s a feature that has the potential to drive sales and engagement, and would be viable within the infrastructure of the proposed system. A big thank you to the user who submitted it for further consideration.
User-Friendly Economics
It would be great to have the ability to purchase XYO in the app.
I like the abstraction to staking to make it accessible to non-technical users. Will there be a conduit for non-tech users to “fill up” a wallet with XYO somehow to support this?
That would make it very convenient, and it would be great for token value. Implementation might be a large task, but it may be worth it for the return on investment. In particular, the point about non-technical users having greater access to XYO through XYO World not only improves XYO World, it improves XYO as a concept. This will doubtlessly be under further discussion.
COIN Integration
Being able to view/access/manage this somehow through the COIN app would make this a lot easier for end users.
Try to make this as streamlined as you can. Ideally it would be nice to go directly from COIN to XYO World, or via one additional layer [such as] MetaMask.
This is a great point, and very forward-thinking for COIN users, which is the critically important starting point for XYO World. We don’t yet know what integration will look like for the COIN app, but we do know that users tend to prefer a convenient, all-in-one experience. Ease of use can make or break a project, and it’s worth considering that COIN users are likely to prefer all of their XYO World interaction to be available through COIN.
Team-Based Competition
You could make [quadtiles] group owned — allow users to connect in circles of people they trust… [and] use XYO to buy other owners out.
This is a competitive dynamic that also adds a social element. It’s in-keeping with the XYO World paradigm already in play. If we were to implement something along these lines, we would need make sure it’s fair to everyone engaging in the system, and that might be a difficult hurdle, but it’s something worth exploring. In particular, including social and competitive elements are always good for long-term engagement.
Squatters’ Rights & Loss Prevention
You may want to look into squatters’ rights instead of stealing or defending the geotokens. [The system could force them] to maintain [their ownership rights] from others. Over a [predetermined period of] time, if the previous owners have not moved a squatter from their geotokens [the squatters would have a claim to the geotokens].
The previous internal discussions we’ve had have all envisioned squatters as bad actors who would be a detriment to the system — parties who might buy a geotoken and then never use it, leaving it dead in the water permanently. This idea would turn the idea of a squatter entirely on its head, into a positive for the system who increases competition and who has rights and claims of their own. It also potentially adds a low-cost, high-impact option for users.
It’s an intriguing new way to look at how we can handle the issue of abandoned quadtiles, and really illustrative of why it’s important to get as many perspectives as possible while planning.
Ownership Maintenance (Fee vs. Free)
Create a maintenance fee in XYO tokens that would be charged for unused XYO World geotokens after 3 months. After 6 months it can be seized by either other XYO [World] users or an entity that only exists for the purpose of seizing unused geotokens, which will create an auction twice a year.
Conversely…
“The simplest system and the one currently under consideration is simply to force users to manually lock their geotokens periodically in order to keep them from going up for auction…”
This is a nice idea so I don’t have to feel paranoid having to pay for upkeep or even potentially losing the space.
The idea of some kind of maintenance fee has been kicked around, and it has its pros and cons, as illustrated here. It’s still on the table, as it would help the overall liquidity of the XYO World economy, but we received a surprising amount of positive feedback about a simple, free locking mechanism.
Utility Tokens vs. Non-Fungible Tokens
Simply speaking, geotokens as currency does not fulfill the purpose of a cryptocurrency as fiat cash.
Correct, geotokens are not meant to be a cryptocurrency. They’re more akin to real estate. They represent a real area of the world, have function outside of just their value but do have value, and the system currency (XYO Tokens) is used to trade them.
Quadtile Customization
I would love to see a customizing option available, where we can add some info much like COIN BOSS. Or if there is a way, can there be cross-compatibility somehow?
[It] would be nice to be able to name our NFT (an alias to the address). Or even have a domain point to my geotokens and be able to display the contents or metadata within.
We agree, and the team at XY Labs is currently beginning to plan ways that customization of XYO World quadtiles would be available for COIN users. It’s an important element of the proof of concept for XYO World provided by COIN.
Additionally, although it wasn’t covered in too much depth in the rules document, something like this is part of the plan for XYO World geotokens. The NFTs can store other data, including a URL or an IPFS hash, so they’re likely to be very customizable.
Per the rules document:
“The XYO World NFT is a container. It can store other things inside of it. The two most important things it will hold will be its own child NFTs and XYO Tokens, but will also have the ability to contain a URL or IPFS hash…”
Incentivizing Geotoken Sales
I would like to see an incentive for sales that is fair so people would actually want to sell instead of hold… so there is more fluidity.
While it has not been worked out yet, this is something that will probably be incorporated in some way. It’s possible that it won’t be intrinsic to the XYO World system, but rather possible in implementations of the system in third party apps. For example, COIN could choose to include a trading incentive within COIN that only exists for their purposes but benefits the whole system.
Whether it will be a feature of XYO World, itself, or a concept that can be incorporated by apps using XYO World likely won’t be something we’re able to fully determine until the product is launched. Nevertheless, it’s something we’ll want to consider as the project matures.
We’d like to sincerely thank the over six-hundred people who took the time to participate in our request for comment. We’re opening a traditional, public-facing request for comment using Git for developers and other interested parties who opted in for further engagement regarding XYO World. (Prior knowledge of Git or GitHub will be required in order to participate.)
What ideas are your favorites? What would you like to see implemented differently? Let us know down in the comments, or send us a message.
