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 you get, living and working on Satoshi Island is sure to be an experience like no other.
There is different types of Land NFTs to suit the different owners and their needs.
Buying 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 our company to a new owner.
Once you have your Land NFT Deed you can be secure in the fact that you are a land owner on Satoshi Island. But before you know exactly what piece of land you have you need to follow the steps to create your NFPTs.
Land NFT Deeds provide the holder with the rights to mint Land NFTs from 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 minted at the same time, the resulting Land NFTs will share the same or adjoining traits allowing consolidation of Land NFTs to claim whole blocks of land when creating NFPTs.
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When you use a Land Deed NFT to claim a Land NFT you will be assigned traits within the area you chose which give you a more specific geographical location of your actual block of land.
Whether you have 1 Land NFT or a multiple, you will be assigned the traits from the same geographical location allowing you to later combine those Land NFTs into Land NFPTs for a specific block
Holders with less than 10 Land NFTs will be able to join with other holders with the same traits to discuss development plans to ensure they collaborate with others with the same goals
Land NFTs can be traded 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 of the 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 a 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 individual NFPT DAO, the holders can sell the NFPTs just like any NFT and the benefits and rights of the block of land and any development of it will be instantly transferred to the new owner.
Continue reading about NFPTs
Learn about the legal rights you gain when you own Satoshi Island NFTs linked to land.