Land NFTs represent the rights to real land on Satoshi Island. There will only ever be 2100 blocks of land on the island, and each block is divided into 10 Land NFTs. Own a whole block and build on your own, or own individual NFTs and build with others.
Land NFTs come with different traits which describe the area, location, position and usage of the land, but whichever NFT you get, living and working on Satoshi Island is sure to be an experience like no other.
There are different types of Land NFTs to suit the different owners and their needs.
Buying the rights to land on Satoshi Island is much easier than traditional land ownership, but there is still a process to follow to go from the first step to a Land NFPT that represents a specific block of land.
The first step to owning land on Satoshi Island is to acquire Land NFT Deeds. These deeds represent the seven areas on the island and are required the first time land rights are transferred from Satsohi Island DAO to a new owner.
Once you have your Land NFT Deed, you can be secure in the fact that you are have secured some land on Satoshi Island. But before you know exactly what piece of land you have the rights to, you need to follow the steps to create your NFPTs.
Land NFT Deeds provide the holder with the rights to mint Land NFTs from the area that the deeds represent. When minting Land NFTs, you will be randomly assigned specific traits that are later used to select blocks of land.
If multiple Land NFT Deeds from the same area are converted at the same time, the Land NFTs will share the same traits.
Continue reading about Land NFT Deeds
When you use a Land Deed NFT to claim a Land NFT, you will be assigned traits within the area you chose. This gives a more specific geographical location of your actual block of land.
Whether you have 1 Land NFT or multiples of 10 up to 40, you will be assigned traits from the same location, allowing you to later combine those them into Land NFPTs for a specific block.
Holders with less than 10 Land NFTs will be able to join with others with the same traits to discuss development plans to ensure they collaborate with people with the same goals.
Land NFTs can be traded on secondary markets, and although the exact block is not yet chosen, the specific traits of the Land NFT give buyers and sellers a clear idea as to where the block will be.
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Once you have 10 Land NFTs or have collaborated with holders with same traits and are ready to begin developing, you can use your Land NFTs to select from available blocks of land with the same traits as your Land NFTs.
If you have multiples of 10 Land NFTs, you can also combine them to create larger blocks (if adjoining blocks are available). You can also collaborate with other Land NFT owners to create these larger blocks and develop together.
Creating NFPTs with multiple Land NFT holders is achieved by the creation of an NFPT DAO consisting of the holders of the NFTs. You can decide on the rules of the DAO together prior to selecting your block and minting the Land NFPTs.
Unless prohibited by the rules of an individual NFPT DAO, the holders can sell the NFPTs just like any NFT.
Continue reading about NFPTs
Learn about the legal rights you gain when you own Satoshi Island NFTs linked to land.