TerraEarth is an open platform. All funds obtained by crowdfunding will go to building TerraEarth and building tools that will help the community. All early contributors to the project will give an early allocation (pre mint) as part of the NFTs as payment for their contribution.
1. Landlords and owners will be invited to the initial NFTs registration system. They will prove ownership of properties, and TerraEarth will validate them.
2. Early adopters will have access to register any other properties at a low cost. However, if they cannot prove ownership, they will hold the NFTs until claimed by the owner or traded on. If the owner claims an NFT, a set price (to be determined by the TerraEarth community) will allow the release of the NFT.
3. As the community grows and more properties have been verified, the cost of registering property will increase, similarly to how the price of Bitcoin mining increases the cost of mining. However, TerraEarth will be green, and no mining can happen.
TerraEarths founders understand that building for proprietary use will not allow TerraEarth to reach its goals and not lead to significant market innovation. Therefore, we will keep the platform fully open-sourced. In addition, Hypomo will integrate its current technology into TerraEarth.
By allowing anyone who builds in Terra to connect their tools to all universes, we are allowing creators, innovators, researchers, lawyers, banks and governments to help make better digital services.
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NFTs (Non-Fungible Tokens) can be anything digital to optionally represent a real-world artefact, but a lot of the current excitement is around using the tech to sell digital art.
Hypomo offers custom white label integrations with TerraEarth for Banks, secured by Hypomo. Banks, however, can choose to build their connector to TerraEarth without using Hypomo's white label solutions. We also expect that solutions other than Hypomo's will be available.
Hypomo offers custom, white-label integrations with TerraEarth. Banks, however, can choose to build their connector to TerraEarth if necessary. By connecting to TerraEarth, banks will benefit from providing mortgages into this space and will be able to mine more property data.
TerraEarth is built on the principle that people are helping to shape it will be rewarded. For example, when creators make a 3D model of a block of Apartments, as long as that 3D model is there, the creator will earn money every time there is a property registration or NFT transfer. We expect many different types of creators to come forward as TerraEarth grows.
TerraEarth's aim to have no fees during a transaction of real estate rental, buying or selling.
The funds will be used to pay for the development of TerraEarth, integrate Hypomo's financial tools, and release the Unreal Engine plugin.
Any property you hold (verified or unverified) can be rented out in the virtual world. However you can only enable renting of a physical property if you have verified ownership of said property.