Land Related Questions
Land Plots
What are land plots?
The land area and landscape of Gate of Abyss is mapped 1:1 to the map of Earth. Using GPS, the entire world is divided into land plots of 400 meter x 400 meter in size (160,000 m2).
Land plots use real world GPS coordinates. The map of Gate of Abyss reflects actual street names of Earth. Players can enjoy Gate of Abyss regardless of their ownership in land plots, although there are benefits to being a landowner.
What are the benefits of owning land plots?
Earn real world income yields from virtual real estate and enjoy capital gains.
Possess true ownership (through NFTs) as a result of blockchain technology.
Access to feature expansions.
In-Game benefits such as increased drop rates and the ability to teleport to your land plots.
By owning a plot of land, you become a legitimate landowner and will be able to earn income from transactions that take place on your land. The income that landowners receive is derived as: X% of all transactions that occur on their plot of land(s), where transactions include but are not limited to sales of items / gears in shops, upgrade fees from blacksmiths, etc.
Landowners also enjoy true ownership over their land plots, and they gain access to upcoming features with future updates.
Learn more about the benefits.
Should I invest in land plots if I do not play the game consistently?
Yes you should! As a landowner, you will earn income from transactions that happen on your land plots. You will receive your income even if you don’t play Gate of Abyss.
Do I have to construct my own buildings on my land plots for me to earn income as a landowner?
As a landowner, the income you earn is from transactions carried out within the buildings located on your land plot, no matter who owns the buildings. Whether you construct the buildings yourself or other players choose to construct their buildings on your land, you will receive your income even if you don’t play Gate of Abyss.
As a landowner, when can I start receiving income from my land plots?
Gate of Abyss launches on both Google and Apple stores in Q1 of 2023. Land plots will be integrated into Gate of Abyss from Q2 of 2023. You will start receiving your income from this time on, automatically.
What do I receive my income in?
Gin ($gin), which is a cryptocurrency. Gin will be available both off-chain (to be used in-game), or on-chain (on the blockchain, if you would like to move it across different wallets or cash it out). As a landowner, you can choose to spend your Gin in-game or cash it out to fiat, since it is a cryptocurrency. Gin has been audited successfully by Peckshield, a leading auditor.
Are land plots a form of digital asset?
Yes. Since we’re geared for mass adoption (accommodating non-blockchain users), land plots are sold in the form of “soft-NFTs”, and landowners can convert or “mint” them into NFTs on the Ethereum Mainnet blockchain. This can be done anytime, and we will not charge fees for the conversion; landowners will only have to pay for the gas fees required in order to perform the transaction on the Ethereum network.
Landowners can choose to hold their land for capital gain and receive continued income, or they can choose to sell them on secondary marketplaces anytime.
What are soft-NFTs?
Since we’re geared for mass adoption (accommodating non-blockchain users), land plots are sold in the form of soft-NFTs, and landowners can convert or mint them into NFTs on the Ethereum Mainnet blockchain. This can be done anytime, and we will not charge fees for the conversion; landowners will only have to pay for the gas fees required in order to perform the transaction on the Ethereum network.
What happens if I do not convert my soft-NFT land plots to NFTs?
That’s fine! You will still enjoy earning passive rewards automatically, in Gin, that will be credited to your account. If you wish to sell your GOALAND on secondary marketplaces such as OpenSea, you will have to mint your land plots as NFTs on the Ethereum Mainnet blockchain. This can be done anytime, and we will not charge fees for the conversion; landowners will only have to pay for the gas fees required in order to perform the transaction on the Ethereum network.). The process is almost immediate.
Once you mint your GOALAND NFT, you would have redeemed your soft-NFT, so your soft-NFT will not exist anymore.
Land Credits
Why purchase land credits now?
Purchasing land credits now is optional. If you buy land credits now, you can select your desired land plots faster when the land sale commences on Jan 12! Upon checkout, you can pay for your land plots with your land credits. Also, by buying land credits now, you can secure the discounted, early bird pricing, since 1 land credit will always be = 1 land plot.
How do I pay for my land plots using my land credits?
Upon checkout, you can pay for your land plots with your land credits. 1 land credit = 1 land plot. You can select multiple land plots at a time, and checkout, to redeem multiple land credits at once.
Do I have to use all my land credits at once?
No, you can take your time to browse the land plots globally, so as to secure your desired & preferred locations. Land credits never expire, so you can utilize them whenever you like.
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