The Next Paradigm in the Metaverse: Location-Based NFTs
The metaverse has been growing exponentially, partly due to Meta’s commitment to it and partly thanks to the large number of indie metaverse projects popping up worldwide. P2E gaming NFT drops by celebrities, brands, etc., have had a significant impact on the real world’s perception of NFTs and the metaverse, too. This is compelling more people to take a gamble on the metaverse, a gamble which has paid off for a large section of investors. Even those with losses often learn more from the experience of a single loss than they would from a series of gains.
Despite this remarkable growth in the metaverse, something is lacking: a use case for NFTs outside the metaverse.
The general public is on the fence about NFTs, often viewing them as nothing more than overhyped profile pictures. While there are utilities for NFTs that work on the metaverse, such as in-game items, exclusive event invites, concert tickets, and so on, none of them function outside the metaverse. Lost Worlds, a geo NFT platform, is one of the first of its kind in the world, creating NFTs with geolocation software embedded in their smart contracts.
Introducing Geo NFTs
The Lost Worlds NFT platform is built around the concept of geo NFTs, a unique subset of NFTs that the Lost Worlds team has designed to function as the pioneers in the hybrid world of the metaverse and our physical reality. These geo NFTs are tied to a specific point in space, often corresponding to landmarks, places of interest, or popular spots in a city or town. With geo NFTs, the play-to-earn model of current NFT-based games seems outdated. The Explore to Earn or E2E model works exceptionally well with geo NFTs. In this model, players only need to walk around their town and mint NFTs that are tied to a special place in that city.
The Lost Worlds platform is built on the Avalanche platform, which means that users can mint their geo NFTs for cheap at high speeds without needing to worry about the congestion and high gas fees on the Ethereum network. Thanks to the Avalanche network, users can get into the geo NFT craze right now without a high entry cost barrier blocking their path.
World Creators Program (WCP)
Lost Worlds aims at becoming the premier destination for everything related to geo NFTs.. It seeks to build a creator and community-driven economy via a multitude of initiatives that it will launch from time to time on its platform. One such initiative is the World Creators Program (WCP). Under this WCP program, the Lost Worlds platform will incentivize NFT artists to create geo NFTs with the platform, whose minting will be decided upon by Lost Worlds’ enthusiastic and growing community.
WCP is a creative ambassadors program via which the Lost Worlds platform is inviting NFT artists and creators on a global stage to create NFTs themed around a location of their choice and mint location-based gNFTs. The instructions to launch a gNFT drop can be accessed from the Lost World’s minting guidelines.
Artists or teams of artists competing in this initiative will work on pre-decided briefs based on themes decided by the community for three days with ten days to submit the geo NFT. The winner will be receiving 5,000 LOST tokens, their own Geo NFT Drop, and 25% of all revenue generated from the drop, plus royalties.
Continents Geo NFTs Collection
The Continents geo NFT collection was Lost World’s first attempt at a geo NFT drop. In this NFT series, there exist 250 NFTs of each continent, and the only way to mint one of these geo NFTs is to physically visit the continent. This means that to complete your collection, you’d need to either visit each continent or trade with users on other continents.
In the case of Antarctica, there are some special conditions since Antarctica is relatively harder to visit compared to other continents. To mint an Antarctica NFT, the user needs to either own an Explorer rank in the Lost Worlds’ discord server or own an APA, Hopper, Craft, or 900 GB; upon whose possession you will be immediately allowed to mint Antarctica.
As we can conclude from the above post, Geo NFTs are on the rise right now, with Lost Worlds paving the way for all future projects in that field. Lost Worlds has NFT drops under its belt, offline conferences in Spain, and a newly launched geo NFT initiative to spread awareness about the new breed of NFTs, bringing about a paradigm shift in the metaverse: Geo NFTs.