Without Land, there really can be no building on the Metaverse. Polka city is dedicated to creating a very interesting and interactive social ecosystem. As expected, there have been conversations about land NFTs.
The land NFTs will need to be built on and on that, free construction tools are available to build new NFTs and also to upgrade existing ones.
The Land NFTs will include various land types and tiers and their output will be determined by how much value they offer.
Low Tier Land for small investors. This will have a 2500 USD fixed price in POLC, for the FIRST 40 NFTs that will be produced. After the first 40 pieces of land NFTs are sold out, the new ones will be more expensive. Users can check other NFT Marketplaces for access to the lands.
Medium Tier Land for average capacity investors. The first 10 participants for this island will be able to grab these pieces of land for 10,000 USD Fixed Price in POLC, which will then get more expensive.
High Tier Land for whale investors. 50,000 USD Fixed Price in POLC, available for just the FIRST 3 Investors for this island.
Elite Tier Land for humpback whale investors. This will be open to a single investor for 100,000 USD Fixed Price in POLC. When it opens, hurry up because it will be first come first served.
There will also be 10 airport NFT that will be sold to investors. It will be sold for 100,000 POLC and have an APY of 140%
Land Sales token burn
There was a burning of tokens raised from land NFT sales. Up to $800k USD worth was burnt on the 14th of November. This was the POLC raised from the first land sales.
The burn was done to reduce the amount/volume of tokens in circulation and also increase the value of the existing tokens by scarcity. The limited supply of tokens is managed to avoid inflation. Also assets purchase automatically stakes the value of the asset allowing users to gain an APY by buying assets. The longer and larger the volume of tokens held by users, the more benefits they have.
Partnership with Ferrum
The strategic partnership announcement of the polka city with Ferrum is one to increase the value of their land NFTS. The Ferrum staking process will help to enhance the returns for the land owners. Also it makes it easier for people without a lot of funds to be a part of a buying and staking pool. The Ferrum ecosystem already deals with this. All users have to do is sign up to the Ferrum network and they can join pools available.
Land NFTs are rapidly becoming mainstream. Soon enough we might have digital lands worth way more than physical lands especially with the accelerated development of the metaverse.
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