INTRODUCTION
The Next Earth is a blockchain-based virtual land ownership platform which has the exact copy of the earth. As compared to Decentraland which is a virtual real-estate social world, Next Earth deals with precise locations on the Earth surface.
The next metaverse project is catching the attention of people around the world. This is due to the fact that the project is creating something unique that has not been done before. Here in Next Earth, anyone can buy virtual land or property of their choice without relying on centralized servers - that is if the land has not been bought by another user already. The Next Earth was founded by Gabor Retfalvi who is also the CEO
TOKENOMICS
Next Earth allows seamless transactions across the entire spectrum of the project. Whether users are interested in either buying virtual land, stake or do any other business related to the platform, its native token delivers.
TECHNICAL DETAILS
Blockchain– The blockchain technology is used by Next Earth to handle and store ownership of LANDs. All these are done on the Polygon because of its advantage over the Ethereum network like low gas fees and fast block times which then allows the best user experience.
Payment contract- In Next Earth, All payments for purchases and trade of LANDs go through the Payment Contract, a specially designed contract written in Solidity. This handles the payment allocation in a secure, trust-less and fully transparent way. All transactions can be viewed in the blockchain since it is transparent.
NFT Contract- The LAND bought on Next Earth is represented on the blockchain by a Non Fungible Token(NFT). It is a special smart contract based on the ERC721 token standard, which ensures the immutable proof of ownership and holds the base data of the LAND, like the hash of the unique identifiers of the tiles that the LAND contains.
The ERC721 standard structure of the smart contract enables the future integration of third party marketplaces or any other dApp that handles standard NFTs, as well as taking advantage of the blockchain technology NFT ecosystem.
Tiles- This grid layer on the map is represented by approximately 10m x 10m rectangles which are calculated by Mercator projection. This allows for the translation of the latitude and longitude based system of the Earth into a 2D map.
PROS OF NEXT EARTH OVER OTHER METAVERSE TOKEN
- Low transaction time and ultra-low transaction cost - The time taken for a transaction to take place on Next Earth is relatively fast and the transactions cost are quite low.
- Next earth also adds secure processing along with multiple transaction costs.
- Next Earth provides environmental charity allocation right from the start.
- Next Earth provides staking rewards to ensure community participation.
- It also supports economic systems outside the metaverse via transparent transactions.
CONCLUSION
Nexth Earth aims to bridge the physical-digital divide by providing an immersive experience that beats any other metaverse out there. The entire planet’s visual land deals with makes Next Earth one of the most investor-friendly platforms now. There is more focus on community development rather than just profits from virtual land deals.
DISCLAIMER
By viewing any material or using the information within this publication, you understand that this is general education material. You can not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here. Trading cryptocurrency has potential rewards but also potential risks. You must be aware of the risks and be willing to accept them to invest in the markets. Only trade with funds you can afford to lose. This publication is neither a solicitation nor an offer to buy/sell cryptocurrency or other financial assets. No representation is made that any account will achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
Written by Ayomide Abimbola © Crypto University 2022
