Onchain Property
Onchain Property - Location Primitive
With Property NFTs, you can own NFTs of your favourite properties from famous places like Eiffel Tower or your local cafe!
Building on top of the primitive core feature of checkins, we are introducing a Base (no pun intended) layer of Properties to Checkin. A "Property" can be a business, or landmark or attraction that Checkin users can go visit and checkin. Having locations unlocks more game mechanics in addition to single player mode of checkin.
The benefits of owning these Property NFTs is not only for sentimental reasons - owning your favourite cafe, or your favourite place in the world - it also unlocks ephemeral games to play. The first game we're launching is Monopoly, where when someone checks into a property you own an NFT, both the Property NFT owner and the person will get Checkin Points!
Number of Properties
Any physical location in Google Maps is a Property that can be minted as an NFT. Each Property has a max of 1000 mints. This allows multiple people to own each property and hopefully encourages creating communities around properties that have cultural, societal or personal importance (e.g. fans of the popular Japanese internet cafe, Hailey5)
Property Uses
Onchain properties will be used for various gameplay mechanics, including a base layer to location tokens (see below on Extended Gameplay) and ephemeral games like Monopoly.
In the longer term, Property NFTs will be connected to the real underlying business or location as a signal of fandom or loyalty. Aligning with our long term vision of connecting loyalty programs to Checkin via onchain <> IRL primitive, the Property NFTs will be a component of interoperable loyalty networks across merchants.
Benefits of Owning Property
In addition to being components to play games built by Checkin and other projects, owning onchain versions of properties can also be:
fun - owning a landmark in your favourite country
memeable - who doesn't want to own all the $1 pizza joints in NYC??
sentimental - own the location where you had your first kiss (unless it was not a good kiss...)
monopoly and upcoming games
key gameplay pieces for games launched by Checkin and others
receive location coins for the underlying property when owning property
Collect properties you love and build up your property portfolio and property score!
Hint: Property ownership and property score will be one of the major factors for Airdrop 1
Other Tangible Benefits
Other benefits of owning property include:
location token - receive location tokens of properties you own once they're launched
participating and unlocking perks, discounts, access in later phases of Checkin development when we work with brands and businesses to reward frequent visitors to these businesses
receiving distribution of value accrued by Checkin onchain <> IRL primitive back to Checkin ecosystem (e.g. campaign rewards and values distributed back to property owners and checkin users)
Checkin rewards for continued ownership of property
Cost of Property
Properties are all the same price - FREE! We want to make it easy for Checkin users to own property, especially ones that have meaning or importance to them. All properties can be minted on Zora.
Cost of Larger Scale Geographies
Although Property will be free to mint, you can own geographically larger areas like towns, cities etc. for a small cost. This is to reflect that owners of property/areas receive a % of points from other users checking into the property/area:
property = Zora free mint
town = 0.005 eth
city = 0.02 eth
state = 0.1 eth
country = 1 eth
Note: Similar to Properties, each geographic level will also have max 1000 NFTs per division (e.g. max 1000 NFTs for Tokyo)
Extended Gameplay of Property
As an extension of gameplay, Checkin will support game mechanics around properties:
Locaton Coins: launch tokens around each location, where a percentage of that token will be airdropped to the Property NFT holders and users who've checked into that location
Receiving special perks, discounts or access associated with a location
Hidden rewards throughout owned properties to encourage exploration
In the longer term, Property NFTs and Location Coins can be connected to the real underlying business or location as a signal of fandom. Aligning with our long-term vision of connecting loyalty programs to Checkin via onchain <> IRL primitive, the Property NFTs will be an initial component of interoperable loyalty networks across merchants.
*Property NFTs only include the address, latitude/longitude etc - of course you don't actually own the underlying property...we hope you understand 😢
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