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As a new milestone for the ULAND project, the ULAND Token, native to the project and the underlying in-game meta-currency, will be used in unlocking and minting the State and Province NFTs respectively.
In a bid to continue the revolutionary approach to digitize the world’s land assets, ULAND is now counting down to the launch of the second tier of its land Non-Fungible Tokens (NFTs). As contained in a press release shared with Coinspeaker, this launch will afford users the opportunity to mint or buy virtual land locations tagged as states, provinces, or regions.
ULAND approached the NFT world with a difference, giving collectors an opportunity to own a part of the world’s rich geographical locations. ULAND assets are subdivided into Countries such as the United States, England, Brazil, States/provinces, and cities, just as the world is designed. The ULAND project has garnered enormous interest from users from around the world and the first tier of the project featuring the countries was sold out as expected.
The entire project is built on the Binance Smart Chain (BSC) network, and the land locations are designed as BEP-721 assets. With the successful sales of Tier 1, the project’s Decentralized Autonomous Organization model (DAO) was activated. Under this model, the current holders of the Country NFTs can unlock Tier 2 and define the custom tax rates and mint prices for states and provinces located within their countries.
As a new milestone for the ULAND project, the ULAND Token, native to the project and the underlying in-game meta-currency, will be used in unlocking and minting the State and Province NFTs respectively. As a BSC-backed project, Binance Coin (BNB) was the token of transactions before the ULAND token was launched, and while the operations of the platform will largely depend on the ULAND tokens, BNB may also find uses from time to time. The utility that has now been defined for the ULAND Tokens will undoubtedly increase the buy-ins for the digital assets over time.
The Benefits of Owning ULAND NFTs
There are numerous benefits that holders of the ULAND NFTs get by becoming a part of the ecosystem. While those that benefit the most are those who own Tier 1, Country Land Asset NFTs, the earlier one gets in the game, the better. Users are entitled to what is described as Distribution Rewards in the ULAND ecosystem.
Take for instance, a holder of the Land Asset NFT – USA. He/she will gain rewards each time other subscribers buy state or province lands in the USA. Additionally, each time the ULAND token is bought or sold, holders of the ULAND Land Asset NFTs receive a percentage of the transaction based on the population of the Land(s) they own.
Along the line in the development of the ULAND ecosystem, owners of ULAND NFTs will be able to invite CITIZENS to move into their ‘City’ by buying passports. This innovation is billed to unlock unparalleled passive income opportunities for the earliest Land Holders.
Alongside the release of Tier 2 ULAND Land Asset NFTs scheduled for December 15 will be the improvement to the World Marketplace which will see more interactive features and a better UI experience while also offering ease of use for all users. In all, the autonomy that is present in the decentralized world will also be brought to life in ULAND as holders of NFTs will be able to rename their Countries or State NFTs, there personal Ruler Title, set custom taxes and much more, solidifying their pledge to create a dynamic and thriving Virtual MetaVerse and ecosystem.