DGES Documentation
  • Welcome to DGES
    • Problem Statement
    • Tasks
    • Goals
    • Proposed Solutions
  • Ecosystem Overview
    • Platform Overview
    • Ecosystem Tokens
      • GeoNFT (GNFT)
      • LandNFT (LNFT)
      • RoyaltyNFT (RNFT)
  • Ecosystem Commissions and their Distributions
  • DAO and Governance
    • Voting Mechanism
    • DGES DAO Reserve
    • Mitigation of DAO Attacks
    • No Native Token
  • Use of Funds
  • Technology
    • Blockchain Infrastructure
    • GNFT
      • GNFT Extensions Library
    • LNFT
    • RNFT
    • DAO
    • Integration with Other Blockchains
    • Development Tools
    • Security Measures
      • Audits
  • Use of Funds
    • Road Map
  • Socials
    • Contacts
  • Marketplace
    • NFT Marketplace
      • Mint
      • Sell
    • Terms and Definitions
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  1. Ecosystem Overview
  2. Ecosystem Tokens

LandNFT (LNFT)

LNFT is an infrastructural token that encodes geohash data within its metadata, defining the area and location of square land plots on a digital world map. Each land plot measures 152x152 metres and corresponds to real-world physical locations. LNFTs are designed to help monetise and optimise economic activities in the DGES ecosystem.

Owners can use LNFTs as physical location addresses in Web 3.0, promote the corresponding physical locations, and host events.

Features

  • LNFTs can be bought, sold, or rented.

  • Royalties: LNFT owners can earn royalties based on the economic activities within their land plot boundaries.

  • Each LNFT has core characteristics but can be enhanced with extensions if proposed and accepted by the DAO community.

Issuance

  • The issuance of LandNFT tokens is constrained by a geohash grid with a resolution of 7, covering the entire Earth's map. This caps the total number of tokens at 34,359,738,368.

  • Each LNFT can be subdivided into 8 smaller plots, corresponding to real-world squares measuring 19x19 metres.

Value Determination

Each LNFT is a unique entry on a decentralised blockchain, representing intellectual property tied to a virtual version of a physical location and granting specific digital rights to that property.

The value of an LNFT is influenced by:

  • Real-world location

  • Importance of the organisation or owner

  • Level of economic activity on the plot

  • Promotional efforts

  • Revenue generated from GNFT placement

Availability

  • The availability of LNFTs for purchase is limited.

  • Issuing and selling LNFTs is governed by voting within the DGES DAO.

  • If an LNFT is not listed for sale, potential buyers can submit a request to the DGES DAO, which will be considered once a sufficient number of similar requests are accumulated. Following this, an RNFT holder can propose the issuance and sale for a vote.

  • An LNFT can only be purchased once the request is approved by the DAO community.

Purchasing Conditions

  • A mandatory condition for purchasing a specific LNFT plot is that the potential buyer must create a GNFT on this plot or on one of the eight adjacent plots.

  • The initially purchased LNFT will be permanently linked to the graphic image of the GNFT created by the buyer.

  • If the plots are subdivided, each sub-plot will also be linked to the GNFT.

Priority for Purchasing

Priority for purchasing LNFTs is given to:

  • Application developers

  • Organisations conducting physical activities within the plot

  • Community members contributing to the development of DGES

  • RNFT holders

However, these buyers must also own a GNFT on this plot or on one of the eight adjacent plots.

Note: LNFTs corresponding to physical locations occupied by government and religious institutions are not eligible for sale to private individuals. The DGES DAO reserves the right to withhold any LNFT from being listed for sale.

Once an LNFT is sold, the DGES DAO loses all control over it.

Economic Potential and Pricing

  • The economic potential of an LNFT, and its initial sale price, is determined by voting within the DAO community.

  • For the initial sale of LNFTs, the DAO community may decide to auction a batch of tokens. The participant who offers the highest price wins and receives the LNFT at the end of the auction.

  • The minimum bid for the auction varies depending on the economic potential of the LNFT.

Pricing

  • The cost of an LNFT at the time of initial purchase is determined by:

    • The gas fee for the blockchain transaction

    • The price set by the DAO community or through an English auction

  • In secondary market transactions, the LNFT price is determined by:

    • The gas fee

    • The DGES commission

    • The marketplace fee (if applicable)

    • The price set by the current token holder

Revenue Generation

LNFT owners have the opportunity to earn royalties equivalent to 50% of the commission charged by DGES for each GNFT transaction that occurs within the boundaries of their plot.

  • If the LNFT has not been purchased, this portion of the commission accumulates at the LNFT’s address, increasing the plot’s potential value. This accumulated amount is fully credited to the wallet of the first buyer.

  • If the LNFT is subdivided, each sub-plot owner can earn royalties within the boundaries of their specific sub-plot.

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Last updated 5 months ago