Lost Worlds is a first-of-its-kind NFT platform experience where NFTs are geographically linked to real-world locations for collectors to discover and mint.
What is Lost Worlds (LOST)?
Lost Worlds is a first-of-its-kind NFT platform experience in which NFTs are geo-referenced to real-world locations for collectors to explore and mint.
Furthermore, this utility generates “work” within the ecosystem, as it is necessary to go to or be in a certain zone to mint a requested NFT. This limitation allows for the addition of DeFi incentives and components to reward energy spent on developing, minting and buying/selling location-based NFTs. The creative opportunities available to artists and creators in Lost Worlds are only limited by your imagination as Lost Worlds supports any ERC-721 token, which means creators can submit any type of NFT including 1 of 1s, event tickets, location-based scavenger hunts, games or ideas yet to be seen.
How Does Lost Worlds (LOST) Work?
The platform allows creators and brands to leverage geolocation as a medium, merging the physical and Web3 worlds and adding a new layer of scarcity and usefulness to the way we evaluate and value people’s interactions with NFTs. In a nutshell, Lost Worlds reintroduces NFTs to the real world.
NFTs based on location
Lost World is expanding the way NFTs can be experienced, while rewarding creators, explorers and collectors for using the platform. To mint NFTs from real-world locations, you will need a mobile device and stake the LOST token. The more you wager, the more experiences and rewards you unlock.
By minting an NFT from a certain location, you earn the rights to sell or trade that NFT on the market. NFTs on the market are accessible to everyone, regardless of location; however, the NFT metadata will always indicate the location where the NFT was originally minted on the chain, denoting proof that someone went to that physical location to mint.
Explore to win LOST
Users will be rewarded with Tokens LOST for a variety of activities, including travel, minting, buying and selling, and completing challenges. The following is a basic summary of the many types of incentives available.
Explore to win:
- Coining an NFT (Minter)
- Someone else minting an NFT from the same location you have one (Dividend)
- Completing a Big Payday Challenge (BPD)
Other ways to win:
- Market Rewards
- Mining royalties
- Betting Rewards
- Lost ecosystem funding
Rewards for minting an NFT
Minting an NFT from any of Lost Worlds’ native projects entitles you to rewards in LOST Is Exploit to Win’ tokens in the most direct sense. For example, let’s say you are in New York City and you want to collect the Empire State Building NFT from our Portals series.
You would go to the Empire State Building, access the Lost Worlds app, find your location, click Mint, and pay AVAX. You will receive a certain amount of LOST token for each NFT you mint at that location. You can track your rewards on the rewards screen.
Marketplace Lost Worlds
Given the dynamics of a location-based NFT platform, we built an in-app secondary market for these location-based digital assets. While users can also trade their NFTs on popular secondary markets, the costs of trading our in-app market are refunded to NFT holders on the Lost Worlds platform depending on their location. Currently, the marketplace only supports fixed price sales, but as we grow we will add NFT auctions and swaps to the platform.
LOST token
The LOST cryptocurrency has a total supply of 50.000.000 LOST tokens.
Token use case
Staking LOST is the key to being able to utilize all the benefits of the platform. As more features are implemented, the way users can use their LOST tokens to access location-based NFTs will increase. Some examples:
- Mint discounts for LOST staking
- Rewards – use LOST to have someone mint in a location you are not
- Location-based staking
- Buy NFTs directly with LOST
- Submit projects to DAO with LOST
- Sharing Mint Recipes (AVAX & LOST) with Gold Stakers
Lost Worlds uses a Bronze, Silver and Gold tiered staking system as the foundation to access the platform as they grow and continue to release more features and utilities.
NFT Portals
The Portals NFT series invites you to visit some of the world’s most iconic monuments in their royal position. The project emphasizes the fragility of the physical world, and the team is providing a way to immortalize your visit to these monuments through the immutable blockchain. The Portals is the first official NFT series on the platform. The team is starting with six landmarks and will add more as the community grows. Each waypoint has 1.100 Portal NFTs with varying Portal rarity. The most prevalent reality is the ordinary world, while Utopia is the rarest.
You will earn incentives in the form of $LOST tokens for each NFT of Portals you create. Other ways of generating income include the following:
- Minter Dividends: where a Minter earns LOST on all mints that happen after their own in a spot for the first 20% of Minters
- Achievements: Utopia card collectors can claim the achievement and receive $LOST tokens. You also receive a non-tradable NFT Emblem for completing the achievement.
Future of Lost Worlds
Lost Worlds proposes a closed-loop economy that rewards creators and explorers for their commitment to the growth and development of the Lost Ecosystem.
- The DAO/Treasury is the central governance system of the Lost Ecosystem. The DAO has voting rights over which projects are deployed on the platform, as well as ownership of the treasury, which can be used to increase rewards across the platform and its various projects.
- Explorers must bet LOST to gain layered access to the platform. Depending on the amount of LOST wagered, Explorers can participate in different projects and aspects of the platform, including voting rights on the DAO.
- Creators can use the Lost Worlds Protocol to create their own location-based GameFi, DeFi and NFT experiences. To submit a project, these creators must pay a LOST fee, which is deposited in the DAOs Treasury.
Final Thought
Lost Worlds is a first-of-its-kind NFT platform experience where NFTs are geographically linked to real-world locations for collectors to discover and mint. Lost Worlds allows the collection of NFTs associated with certain real-world locations. Unlike most NFT experiences, Lost Worlds is a mobile dApp. To be eligible to mint the NFT linked to it, users must use the mobile app and visit specific areas.
