What is Etherland?
Etherland is the first global encyclopaedia of real estate properties and world places (Etatepedia) that runs on the Ethereum Blockchain. Instead of creating a new virtual reality, the platform mirrors the physical world with existing real estate and real information. It aims to change land property identification management by supplementing or converting paper-based documents into InterPlanetary File System (IPFS) data and unique ERC-721 tokens. The platform combines interoperable technologies that connect the digital data of internet users with the physical world.
Using IPFS technology, Etherland can transfer real estate from the real world onto the blockchain. The combination of IPFS and Blockchain Technology enhances control over real estate ownerships and ensures the information's reliability. Since the storage is decentralized on IPFS, the uploaded information will always be accessible at any time by anyone for an almost infinite period of time.
While the IPFS controls the information's persistence and redundancy, the Etherland Blockchain binds the owner to the information of their property. It provides a comprehensive history of the information's revisions and ownership changes. Thus, the decentralized data system on Etherland's Blockchain ensures accurate tracking, traceability, and history of any modifications.
A Non-Fungible Token called LAND ID represents every real estate on-chain. Owners have full control over their real-estate data with the LAND ID token. This means that owners won't only be able to control the documents, photos, and videos they provide, but they can also edit them. In other words, Etherland is a new type of Wikipedia where users can own, decide, and monetize their content.
History of Etherland
The concept of Etherland has been developed since 2018, and the production of the platform started in mid-2019. In January 2021, the LAND ID NFT, the ELAND token, and the marketplace was launched. Other products and features of the platform were gradually released throughout 2021 and will continue through 2022.
Marc Couzic, the CEO of Etherland, has over 10 years of experience in IT and Agribusiness. He is also the founder of Fieldcoin, a project that combines Blockchain Technology with Agricultural Land Management. Together with his team, Marc creates Etherland with a mission to empower and give control to people over their real estate data. One of their targets is to digitise millions of real estate over the coming years while avoiding the risk of losing control over the content. To do so, the team aims to create an immutable digital identity counterpart on the Blockchain for every property in the world, where owners are able to control the information and get verified.
Besides giving control to real estate owners, the team also wants their technological solutions to enable digital property owners to promote their real estate on the platform.
Types of Property in Etherland
LAND ID is an ERC-721 NFT representing a real estate property in Etherland. Every LAND ID in the platform comes with a unique Real Estate Identification Code. The key information about the property, such as its cadastral number, coordinates, and location, is stored on IPFS.
Whether a user owns real estate in the real world or not, they can acquire a piece of Etherland. In other words, anyone can own a digital LAND ID token at any location on the platform, as long as the said location has not been registered yet by another user. Users can secure their Digital Land by filling out the form that the platform provides.
The real owner of physical real estate can put their properties on Etherland's metaverse through Actual Owner Registration. With this type of registration, users can get a verified badge on their LAND ID. They need three documents to register their physical land: their passport or ID card, a utility bill, and their certified proof of ownership in their name. These documents serve as proof of ownership as well as KYC for identity verification. Users with verified LAND IDs can access specialised services, such as the Carbon Credit Reward.
Those who don't actually own or don't have the budget to own physical real estate in the real world can also register a LAND ID for a place from the public domain on Etherland. However, they won't get a verified badge. They can register any place on earth that hasn't been registered yet.
Public real estate, such as a natural wonder, a landmark, an arena, or any public infrastructure, usually can't be owned by an individual. However, users can register these public real estate in Etherland as long as there are no trademark or copyright laws that prevent individual registration. Thus, a user who wants to register or own a public place in Etherland has to do due diligence before doing so.
After a user completes filling out the registration form and passing the KYC, the real estate's NFT will be minted on the Ethereum blockchain.
Regardless of their ownership status of the physical land, landowners in Etherland can do whatever they want with their digital land, such as creating content or increasing its visibility on the net. They can also collect rewards and stake their Digital Assets.
Native Tokens Used in Etherland
ELAND is an ERC-20 token that serves as the native token of Etherland. The token is used as a payment token to create LAND IDs and an access token that users can use to modify their Estatepedia profile. Additionally, it's also the token that users will receive in the Carbon Credit Reward.
The maximum supply of ELAND is equal to 56 million tokens, and about half of this number is already in circulation.
Top 3 Reasons to Invest in Etherland
- The first of its kind - Etherland is among the first metaverses that offer Estatepedia, an encyclopaedia of real estate ownership. Many metaverses out there may map digital real estate to real-world locations, but not a lot that actually allows users to register the physical land they own to the blockchain. In essence, Etherland provides a glimpse of what the future of real estate ownership may look like.
- Opportunities to turn land for profit - There are many ways landowners can earn income from their digital land. For example, those who own digital land in the metaverse but don't actually own the physical land in the real world can hold their land and resale it at a much higher price in the future when the owner of the physical property wants to claim its LAND ID token.
- Small-cap cryptocurrency - Etherland's native token, ELAND, is still a small-cap cryptocurrency (1 million USD market cap), so it has a lot of potential to explode in the future.