We won’t rehash all the details included in our launch announcement post, but here are the most important parts to keep in mind as our fair auction launch ends and you claim your first parcel on the Geo Web Cadastre:
1) The auction reaches its minimum price (0.005 ETHx) tomorrow, January 14th, 2023 at 17:00 UTC.
- Parcels claimed during the auction are still subject to partial common ownership!
2) If you have your eyes on a famous location in the world, use this auction schedule to plan and make your claim before someone else does.
- Make sure to set your For Sale Price at a level that you’d truly be happy selling at. Rejecting bids isn’t free!
- Deposit enough ETH to cover your auction claim payment(s), several months' worth of ongoing stream payment(s), and transaction costs (gas costs should be just a dollar or two worth of ETH).
- Land market transactions (claim+stream) use a wrapped version of ETH called ETHx. You can complete this wrapping transaction and add ETHx to your wallet’s visible token list in any transaction window or your profile on the Cadastre. Do this prior to your planned claim time!
4) 100% of the funds generated by the land market will be used to fund public goods.
5) We will be retroactively creating and granting commemorative Citizen NFTs to addresses that make claims during the auction:
- Genesis NFT (1) - Claim #1
- Founder NFTs (10) - Claims #2 - #11
- Explorer NFTs (open edition until auction end) - #12+
6) We are still in beta. You use the Geo Web at your own risk. We designed this system to tamp down speculation and instead spur compounding, productive growth, so don’t over-extend yourself!
If you have any questions, feel free to drop into our Discord server and we’d be glad to help! See you in the metaverse.