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Evolution Land: Land economics in the Metaverse

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Did you know that the science fiction novel “Avalanche” by Neal Stephenson published in 1992 is regarded as a bible by Zuckerberg and is widely circulated throughout the Facebook company.

This book describes a virtual world parallel to the reality. The Metaverse where everyone has a custom Avatar, is parallel to the real world, interacts with the real world, and is always online. It is lifelike and immersive. The movie “Avatar” created a magnificent Genesis, and its inspiration also came from this.

There are two roads in front of human beings: one outward, leading to the sea of stars, and the other is inward, leading to virtual reality.

—Liu Cixin 

With the maturity of AR, VR, applications of 5G, and AI autonomous generation technology, the improvement of wearable supporting hardware, and the formation of the blockchain economic system, the world in the novel is coming to us, and the users of Metaverse begin to make their own civilization.

 The movie “Ready Player One” depicts the meta-universe we yearn for. It has a fully operational economic system that spans across the physical and digital worlds.

Data, digital items, content, and IP can all freely pass through the meta-universe. Everyone in this world can enjoy the existing facilities, but also participate in the creation, thus enriching and prospering the entire universe.

When reality is in a low point and surrounded by pressure and frustration, people in the new era are more keen to explore the world in the Metaverse to achieve spiritual satisfaction and self-worth.

NFT game is the best carrier for Metaverse

In blockchain games, through smart contracts, users can freely control and control their own assets. The existence of distributed ledgers protects the account from the risk of stolen.

The open-source code means that players can freely innovate, build, and become the creator of the game. NTF maps the assets in your hands to the physical world.

With visualization and identity, virtual goods are transformed from services to transaction entities, thereby enhancing the emotional experience of users.

 After several years of hard quenching, with the improvement of infrastructure and the increase of application scenarios, NFT games have gradually ushered in an explosion.

Decentraland, The Sandbox, Axie Infinity, Evolution Land, etc. have shown the prototype of Metaverse and have begun to come under the spotlight.

Decentraland is a new continent built on Ethereum, allowing users to create, experience, and monetize content and applications.

As the first game to introduce tokens, Axie Infinity introduces pet development and turn-based battles into the game, allowing users to make money while playing, realizing the self-circulation of the economic system.

Evolution Land uses cross-chain bridges to allow assets in the game to interact across chains, realizing free circulation on multiple chains.

Same as the reality, the land is still the most sought after asset

In the past, the land was used as a means of production and was the basis for human survival. Even if it has been long since humans evolved out of the agricultural era, it is still a necessary means of living, let alone being endowed with currency storage value.

Like the lousiness in the real world, the land of the virtual world has been hyped since its inception and has become the most hyped-up asset in the entire ecology.

  • In June 2021, 9 virtual lands in Axie Infinity were sold at a high price of 888.25 ETH, which is approximately $1.5 million.
  • On June 9, 2021, Boson announced that it would purchase virtual real estate in the Vegas suburb of Decentraland at a market price of approximately $704,000, and plans to build a virtual shopping mall.
  • On June 18, 2021, digital real estate developer Republic Realm purchased 259 digital plots, or 66,304 virtual square meters, for 1.295 million MANAs, at a price of approximately $913,000.
  • In July 2021, the virtual land with an area of more than 5.3 million square meters (24*24) on The Sandbox was sold at a price of nearly $880,000.

After rounds of auctions and competitions, the price of virtual land has risen sharply, bringing huge returns to early investors.

Behind the soaring price is the land economics of each Metaverse.

Scarcity of land

In China, the method of restricting land supply is often used to macro-control the growth of housing prices. Then the scarcity of land in the major Metaverses will also be reflected in the price by supply and demand.

The main body of Decentraland is Genesis City. The size of Genesis City is 90,000 LAND (300*300), which has almost all the functions of a modern city. About 36,000 pieces of LAND are the infrastructure area built by the project party and cannot be used for sale. Only the remaining LAND will be sold to users.

There are a total of 166,464 (408*408) lands in The Sandbox, each of which is an ERC721 token. Players can purchase the land and use the tool – Game Maker to develop and publish on their own, or they can rent land to other game developers.

The maker does not need code knowledge to develop games, and the land can also be used to host other ASSET props or host events.

The Axie Infinity meta-universe land is called Lunacia, with a total of 90,601 plots. Each plot is a rare NFT, and the price of the plot varies according to the geographic location.

Referring to the concept of Evolution Land resources, different types of land on the Lunicia continent can dig out resources of different elements, and then these element resources will have different uses in production and construction, and the introduction of element methods has also made some land more scarce.

Lunacia Land

Evolution Land contains a total of 26 lands, of which 24 lands contain 2025 (that is, 45×45) plots, and two special lands contain 7921 (22×360 + 1) plots, each plot is 100 meters x 100 meters.

The total number of plots is 360×(135+44)+2=64442. Due to geomorphological factors, the number of auctionable plots will be less than the total number of plots.

Bird eye view of evolution land

 The soaring price of virtual land has indeed attracted enough attention and stepped out of the box in the next step of the NFT wave, but the value support behind it still needs to be built on the prosperity of the metaverse itself.

No amount of economics is as good as hard-working people. The future of virtual land requires a large number of users to develop and construct, build scenarios and expand the scale to realize the real Metaverse and put our real-world and imagined world into it.

 Evolution Land – Game and Metaverse

During waves of technological progress, games are always at the forefront of exploration, because they are the most attractive carriers of people’s detached fantasies, which they become motivated and inspired to realize, just as we are looking forward to the day when the Metaverse in “Ready Player One” and “Cyberpunk” will become a reality.

Evolution Land was born of this practice. Its vision is to build a simulated virtual world that runs on the blockchain, using the fun of the game to draw players in, and the inclusiveness of the Metaverse as an oasis, allowing users to live and trade in a real economy.

In this environment, players experience the development of blockchain technologies in a gamified way, from DEXs to Defi; mono-chain to multi-chain.

This process of realizing the Metaverse through various communities is made a lot of fun through gamification.

The Flow of the Metaverse

Because the Metaverse is decentralized, we believe that individual communities will work towards making their worlds better and will come together to realize a common vision.

Their collective outlook will give rise to the development of even more novel applications within the realms of gaming and economics.

Many of the current generation of games, unfortunately, lack gameplays and economics that make them fun, but Evolution Land has made progress towards doing just that.

In Evolution Land, the functioning of the virtual world and economic system are inseparable and are designed to make playing to earn fun, and the integration of the Metaverse is happening before our eyes.

Optimized Dutch auctions:

Those who purchase assets in Evolution Land participate in what’s called a Dutch auction, and Evolution Land uses a slightly modified version.

The optimized Dutch auction is similar to a typical Dutch auction where the price decreases over time, but it does not end when a bid is received.

Instead, it enters a reverse Dutch auction phase. Only if no one else bids at a fixed higher price ( 10% ) within 30 minutes, does the bidder win the bid.

Each time someone bids higher, the previous bidder receives a full refund, and a 10% premium is shared in the following ways:

  1. 4% of the premium is deducted as a handling fee.
  2. The remaining amount is divided equally between the landlord and the previous bidder.
  3. If a referrer is absent, the handling fee flows directly into the system’s revenue.
  4. If there is a referrer, they receive a 20% commission, and the remaining 80% flows into the system’s revenue.

Gamefi and Liquidity

Evolution Land is not just a collection of NFTs.  NFT lands and NFT apostles can help you gather more “resources” (tradable assets), and therefore earn higher income through trading and yield farming in the game Defi center “Farm”with early APR 1000%+.

 The “Furnace” is a common feature of the NFT synthesis system, and can be used in a variety of NFT and FT syntheses to generate new NFTs. This gamifies the rules and also capture value and resources outside its own ecosystem.

For example, RING/KTON and other resource-RING liquidity pool tokens can be used within the game to synthesize new and more powerful types of mining drills, which can greatly increase mining efficiency.

Gamefi Farm

                               

NFT Synthesis to add mining power with LP tokens               

Resources are the core assets of Evolution Land. They can be used for trading and upgrading NFT items, and in the future, there will be buildings and battle systems with resource consumption required at the core.

Considering the importance of liquidity in the game, an abundance of resources is the most important link in the closed-loop of the economic activities of Evolution Lan.

Multi-chain and cross-chain of Web 3.0

We believe that the future blockchain world will not only exist as a mono-chain, but as multiple chains carrying out a variety of valuable functions, so Evolution Land will build continents on 26 different chains.

The continents currently in use include Atlantis on Ethereum, Byzantine on TRON, and Dawning on the Huobi Ecological Chain. Next, the Columbus continent will advance our vision towards Darwinia’s Crab Network, and yet another continent on the Binance Smart Chain.

These continents on different chains are equivalent to different countries in our real world, and various trading and asset exchanges are carried out between them through import/export, and both resources and NFT assets circulate freely between different chains. Imagine the day in the future when we will see Cryptokitties and Polkapets from Ethereum Network circulating on BSC , and earn DOT using BNB-element LP Token on Polygon. The miniature of the Web 3.0 world will come to be true in the Evolution Land.

Revenue model:

70% of the system revenue of Evolution Land will be given back to players in different forms, including community contribution rewards, content incentives, lottery pools, etc.

The other 30% developer reward pools, part of which will be used to repurchase resources periodically and refill the liquidity pool. This will share the game revenues with players so we build a game ecology together.

The form of the game:

Axie Infinity uses some industry best practices that are quite successful when applied to the blockchain world, breaking away from traditional content expansion for the purpose of increasing revenue.

Instead, it enriches the game content and allows players and manufacturers to share the benefit of game enhancement. When users increase → Axie ‘s demand increases → SLP demand as a childbirth fee increases → SLP prices increase → user income increases → which attract more users, creating a perpetual cycle of growth based on their core gameplay. Axie achieved their scaling goals elegantly, which resulted in a quantum leap in terms of user growth and popularity.

Axie’s success is undoubtedly very enlightening, but the game still has fundamental limitations centered around their core gameplay, so they are also expanding their boundaries and introducing the gameplay of Land ownership, similar to Evolution Land.

While Evolution Land is constantly improving its own gameplay, it is also breaking ground when it comes to business gameplay, adding more interesting resources to the land, and making the game more inclusive and open.

One NFT Land, One community:

In Evolution Land, players can freely upload Dapps, introductions, and links to display on the land. Projects can have their own territory in the Evolution Land, and users within the project’s community will be able to place NFT drill on the community plots to mine resources.

In the first phase of the community auction, Polygon, YGG, Phala, Crust, Astar, Lenhub, Channels, INFT, BML communities, Metaventurer all obtained land for their own communities in Evolution Land. Users are able to visit project applications via the link on the NFT land. Evolution Land ties the community, plays, projects up in the Metaverse.

Open DAO Evolution:

During development of online games in the past ten years, the typical payment method has turned them into consumables, requiring developers to continuously increase the amount of content in order to secure additional revenue.

The high-quality equipment you brought with plenty of money will become useless after several versions. The Evolution Land will be created and continue to evolve around a series of consensus rules, system variables, and laws, and designed to be self-evolving, extensible, and open.

Also, the architecture system will let players build different kinds of buildings to make their own NFT treasure show and invite friends to view.

In Summary

Evolution Land has virtual land simulation at its core, perfectly integrating and bridging multi-chain assets while allowing players to have fun playing to earn while engaging them in the blockchain Metaverse, which will allow it to grow and flourish as players and developers unleash their creativity. 

Eve is still young, and Evolution Land will continue to evolve. Welcome, adventurer! http://www.evolution.land

Disclaimer: This is a paid post and should not be treated as news/advice. 

With Masters in Mass communication and journalism, Anjali's interests lie in blockchain technology adoption across emerging economies.

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