Article written by Hot_Property
Blockchain technology continues to be embraced in all sectors of the world such as technology, healthcare, finance and even in real estate. The technology has been described as ground-breaking and continues to evolve with many investors embracing it, particularly those who missed the boom early on. These same investors are now hopping on a virtual real estate property game, Earth2.io which appears to combine blockchain and cryptocurrency technology into one with the end goal of creating a virtual reality empire. The game has been taking the internet by storm after a recent Tik-Tok video was shared by an top influencer.
The Earth2.io Interface
The game, albeit in its early stages, allows investors to purchase virtual real estate in exchange for real world currency. The investors in return receive a property deed highlighting their ownership stake in that particular plot of land. The company website states that the game will be rolled out in phases and it could take a number of years before the game is fully integrated. The end goal of Earth2.io appears to be a virtual Earth that provides players the freedom to develop and experience anything; such as a building, an entertainment destination, an environment, an institution, a game, etc.
Earth2.io – Buying Your First Land
Earth2.io allows investors to purchase virtual real estate in form of “tiles” where they would exchange money and in return would receive a property deed. Each tile has a cost to it and the cost depends on country location and price of real estate in that country. Many investors are rushing to purchase land in prime locations as the more scarce the land becomes, the higher the cost of purchase or tiles.
As well, land prices have shown to fluctuate based on supply & demand. As stated, the game will be rolled out in phases, with the first phase consisting of land purchases and the later phases allowing customization of land. The company states:
Built on top of MapBox technology, we have created a geographically linked digital grid layer that spans across the entire planet allowing people to claim ownership of virtual land in the form of tiles. It is our vision that virtual land and will increase in value over time based on demand, location and earning potential, much the same way that physical land does, so be sure to claim your own land in key locations around the world early on
Earth2.io Corporate Website
You’re probably wondering who would spend real money to purchase a online piece of land. The answer appears to be many with over 5 million tiles having already exchanged hands among users. Virtual real estate has often been described as a place where people can enjoy a second life. Since the virtual world is not limited as the real one, the possibilities of development on a virtual land are endless.
Earth2.io – Selling Your Land
As the tiles in respective countries get bought up, the land value and the price of each tile goes up. Users who would like to sell their plots of land can do so in the marketplace. If your plot of land is a landmark location or high desired real estate such as beachfront, mining sites, historical artifacts, it would be an easier sell as future players can build structures upon those locations.
To sell your land, click on Profile and scroll down to select your piece of property. The more famous the property is, the higher the chance that an interested investor would be intrigued.
Upon clicking save, your property is now listed in the marketplace. Users may also locate your property via the search button as well.
Earth2.io Notifications Tab
In the notifications tab, you will be able to see confirmation of land purchases, bids and any real estate sold. The notification button would light up upon any unseen notifications.
Earth2.io – Bidding on Property
Virtual tycoons are able to bid on interested property that they think might increase in value. To bid on a property of your choice, search the property via the search bar and then scroll down. For this example, we’re using the Eiffel Tower,
Upon clicking on the block of flags, you will notice the historical information about the property. You will be able to see how much the user paid for the property, the number of tiles associated with the property and the current land value of each tile and total. If you’re interested in purchasing this parcel of land, you would have to submit as a bid as the block is currently not for sale. You will notice that the latest bid on the property was for $300. Upon submitting a bid, the property deed owner would get a notification.
Earth2.io Country Statistics
The price of each tile depends on the total number of tiles bought and sold in the respective zone or country. To see which are the hottest countries and their trajectory, under your User ID, click on the Countries tab. Upon clicking on that tab, you will see the total number tiles bought. The more tiles that get bought, the higher the price per tile.
Things to Consider
Land Value
The price of land inside Earth2.io fluctuates from country to country. Each country starts at the very attractive price of $0.10 for 10mx10m of land. The value changes depending on trading price and demand per country giving you potential opportunities to buy low and sell high.
Land Income Tax
The parcel of land you own may be eligible to receive income tax. The company defines this as;
“Land Income Tax is income you receive on the land you own based on future new sales of land in that country. You do not need to do anything special to receive this income, it is automatically credited to your account each time new sales occur in the country of which you own the land. The more land you own the more income tax your land will receive on future purchases.:
Earth2.io Corporate Website
TIP: You can receive higher brackets of Land Income Tax on your land by buying land earlier and getting a better class of land. There are only a limited number of Class 1, Class 2 and Class 3 tiles available per country.
Referral System 5% Bonus
For a limited time there will be a promotional referral system which is beneficial for the provider and the purchaser. Every user will have their own unique referral code which can be found on the Settings page after logging in to your account.
When purchasing land users will be able to apply a referral code. This referral code will give the purchaser 5% credit back on their purchase and 5% credit to the owner of the referral code. The referral code will remain active automatically on all future purchases unless the purchaser changes it again.
Future Development Plans
The game is in the early stages of development and investors are flocking to purchase their piece of property. The end goal of the game appears to be a virtual real estate earth where investors would be able to buy resources, advertise and build on their plots of land. According to the corporate website, the company plans to implement;
Resources
When users find loot, treasure or resources on land that you own you will automatically be given a portion of the ownership depending on what type of land class you own.
Advertisement Income
When advertisements are delivered on land that you own, you will be given a portion of the revenue generated from those advertisements depending on that class of land you own.
TIP: Income avenues 4, 5 and 6 make it important to try and own land in key, popular areas around our physical world as they will likely have a higher chance of traffic and ultimately give a higher return to the land owner.
Digital Assets
When users build on land that you own you will receive a portion of the value of those digital assets. So if a user wishes to build a house, game, shopping center and so forth, on land that you own, part of the value of the assets used to build will be given to you in dollar value and credited to your account.
We have plans to expand on trading of Earth 2 land and the Earth 2 dollar in addition to more income streams but these are confidential at this stage.
Earth2.io is a game that has taken the internet by the storm. Investors are running to purchase their plot of land in hopes that the value increases over time. The game is in early development stages and it could be years before its fully integrated. However, many are willing to take a chance.
The article was written by Wealth Hub and expresses our ideas. We have no affiliation with Earth2.io and wish them luck in developing this game. Contact us if you notice any errors or have ideas on how we can improve the article.
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