Gaze Coin Is Selling Virtual Real Estate On Mars

A new model for funding videogame development using cryptocurrency.

Cryptocurrency are the hot topic recently and the technology works hand-in-hand with augmented reality (AR) and virtual reality (VR) experiences offering unique opportunities for developers to create interesting applications. Now, Gaze Coin have announced an initial land offering (ILO) funding round for an open VR universe survival videogame, in which players will be able to buy virtual real estate in two cities located on a digital replica of Mars.

Gaze Coin

The two cities that will be up for purchase are going to form the base station for the company’s open VR universe survival videogaming that will reward players in Gaze Coin for exploring the connected VR metaverse. The real estate sale creates a new blockchain-driven model for financing videogames by selling a finite amount of virtual real estate inside the videogame to investors. The investors will then earn ‘gaze’ (engagement) based rewards from player engagement occurring on their newly purchased property. This means that those properties within high traffic areas will be valuable both in terms of earnings and player interaction.

Furthermore, property owners may also use an ERC721 “rent” token tied to their property to gain trackable share of revenues earned by tenants. The sale uses finite land models to establish the two virtual cities meaning investors will need to act fact to find the ideal location on the red planet. One of the cities will host a Battle Royale style videogame and casinos with the other housing a red light district. Both cities are inspired by real geographical locations on Mars and the whole initiative has been inspired by Elon Musk’s challenge to entrepreneurs to create business on Mars, issued in March of this year at SXSW 2018.

Gaze Coin

Though the number of property locations available to purchase within the two cities is finite, the entirety of Mars is open to other developers who will be able to establish other cities using X-Y-Z coordinates provided by the platform from Gaze Coin. These locations will be able to link to the main two cities via the Gaze Coin Wormhole Transport System.

Though looking to jump on this exciting opportunity will be able to do so starting September 16th, 2018 at 12:00 (EST) until November 30th. During this time the ‘Fantasy’ city will be open to investors, showcasing its red light district. For more information visit the Gaze Coin website and for more coverage in the future, keep reading VRFocus.

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