Lost Worlds was the first location-based NFT platform on the Avalanche blockchain, and they have continued to innovate in this space.
Lost Worlds is a first-of-its-kind NFT platform experience in which NFTs are geo-referenced to real-world locations for collectors to explore and mint.
The platform enables creators and brands to leverage geolocation as a medium, merging the physical and Web3 worlds and adding a new layer of scarcity and utility to how we assess and value people’s interactions with NFTs. In a nutshell, Lost Worlds reintroduces NFTs to the real world.
Additionally, this utility generates “work” inside the ecosystem, since one needs to go to or be in a particular zone in order to mint a requested NFT. This limitation enables the addition of DeFi incentives and components to reward the energy expended in developing, minting, and purchasing/selling location-based NFTs.
The creative opportunities available to artists and creators on Lost Worlds are limited only by their imagination, as Lost Worlds supports any ERC-721 token, which means creators can submit any type of NFT, including 1 of 1s, event tickets, location-based scavenger hunts, games, or ideas yet to be seen.
The goal of Lost Worlds is to create the best location minting experience possible for both creators and users, while also experimenting with unique location-based technologies to bring NFTs to life. The following describes how the project determines a user’s real location:
Geographically Bound Digital Assets:
The Portals NFT series invites you to visit some of the world’s most iconic monuments in their actual position. The project emphasizes the fragility of the physical world, and the team is providing a way for you to immortalize your visit to these monuments via the immutable blockchain. The Portals is the platform’s first official NFT series.
The team is starting with six landmarks and will add more as the community grows. Each landmark has 1,100 Portal NFTs with varying Portal rarity. The most prevalent reality is the common world, whereas Utopia is the rarest.
You will earn incentives in the form of $LOST tokens for each Portals NFT you mint. Other ways to generate income include the following:
Given the dynamics of a location-based NFT platform, we built an in-app secondary market for these location-based digital assets. While users can also trade their NFTs on popular secondary markets, the trading costs from our in-app marketplace are refunded to NFT holders on the Lost Worlds platform, depending on their location. Currently, the marketplace only supports fixed-price sales, but as we grow, we will add auctions and NFT swaps to the platform.
Users will be rewarded with LOST tokens for a variety of activities including travelling, minting, buying and selling, and completing challenges. The following is a basic summary of the many sorts of incentives available.
Explore to Earn:
Other Ways to Earn
Minting an NFT from any of Lost Worlds’s native projects entitles you to $LOST token rewards. It is ‘Explore to Earn’ in the most straightforward sense. For example, say you are in New York City and want to collect the Empire State Building NFT from our Portals series.
You would go to the Empire State Building, go on the Lost Worlds app, find your location, hit mint and pay in $AVAX. You will receive a certain amount of $LOST token for each NFT you mint at that location. You can keep track of your rewards, on the rewards screen.
Lost Worlds proposes a closed-loop economy that rewards both creators and explorers for their commitment to growing and developing the Lost Ecosystem.
Staking LOST is key to being able to utilize the full benefit of the platform. As more features are implemented, the way in which users are able to use their LOST tokens to access location-based NFTs will grow. Some examples:
Lost Worlds uses a tiered staking system of Bronze, Silver, and Gold as a foundation to access the platform as we grow and continue to roll out more features and utility.
The team is composed of engineers and marketers with prior experience working for multinational firms such as IBM, General Assembly, and Time Magazine.
Lost Worlds enables the collection of NFTs associated with certain real-world locations. Unlike the majority of NFT experiences, Lost Worlds is a mobile dApp. To be eligible to mint the NFT bound to it, users must use the mobile application and visit to specific areas.
Find more information:
Website: https://lostworlds.io/
Twitter: https://twitter.com/lostworldsnft
Telegram: https://t.me/lostworldsnft
Discord: https://discord.com/invite/hXus9zAu6m
Medium: https://medium.com/@lostworldsnft
If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.
Marshall
Coincu Ventures
Wilmington, Delaware, 7th November 2024, Chainwire
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