GeoCompass
Last updated
Last updated
“GeoCompass” is a platform where users can purchase NFTs of real land.
The development of “GeoCompass” aims to combine physical assets with NFTs. The GeoCompass administration will act as a guarantor, which confirms the fact of investing in a land plot when buying NFT. Thus, users can purchase NFTs, which increase in value due to their uniqueness and limited number.
The administration of the “GeoCompass” platform acts as the owner of certain plots of land. We offer for sale only investment-attractive properties that have a high potential for growth in value, the possibility of monetization, or are of historical significance.
Ownership will be confirmed by relevant documents. The plots are divided into conditional areas of 10 square meters. One such territory will be attached to one NFT.
In general, “GeoCompass” will be presented in the form of an interactive map, which displays all the plots of land available for purchase. The map also shows the territories to which NFTs are assigned. Each NFT will include geographic coordinates and a number of proof of ownership.
The primary sale of NFT lands will take place in the auction format. The administration sets the base cost, and the buyer who offers the highest price wins the lot. The purchase of NFT is carried out for TYZ tokens.
The transaction is subject to a commission in favor of the TYZ ecosystem in the amount of 1% of the value. All profits from the sale of NFTs are also considered ecosystem income. We guarantee that land plots cannot be sold according to the statutory agreement for the next 49 years.
The development of GeoCompass will be divided into 2 phases. Initially, the primary sale of plots to users will be implemented, where all lots are put up by the administration. In the second stage, it is planned to launch an NFT marketplace, where it is possible to sell and exchange NFTs between users. The launch of the first phase of GeoCompass is scheduled for February 2024. Over such a long period, the market may change, so some details of the platform implementation may be revised. Therefore, this chapter will be supplemented later with more precise information.
