Introducing the Universal Real Estate Identification Code
We are delighted to introduce today a universal decentralized Real Estate identification code built on the Ethereum Blockchain. With Etherland’s Land ID token marketplace launch, the real estate revolution has begun. The 1st milestone is to connect real estates with the Digital Earth Metaverse.
One Land ID token for each real estate in the World
With this classification, every real estate in the world will have its own and unique Land ID number. Connected with Etherland’s blockchain using ERC721 Non-Fungible technology, this code will enable the identification of every property on Earth.
Why create a Universal real estate code on the blockchain?
In many places on Earth, there is no formal authentication, and when those national cadasters exist, many lack accuracy and transparency.
The Universal real estate Code is permanent, fixed, borderless and immutable. Connected to Etherland’s NFT Blockchain and the Interplanetary Files System (IPFS), the code is an identification layer built on top of the Ethereum Blockchain.
Besides, real estate is cruelly lacking visibility. It needs to authenticity and promotion by the people using the same social media and web tools that are popular today.
The platform launch in February 2021 will empower anyone to upload information content about the places on Earth. Anyone can become a contributor and build content on the Etherland platform.
How does it work?
Don’t need a map or documentation, according to the property type, its description and its location the code by itself provide all the main information concerning the property. It enables anyone to tokenize any places in the World and upload key information that will be stored in IPFS network and access to all. The code is a combination of letters and number. When you want to get a Land ID token for your property, you have to follow the simple steps at the end of the article below to find the unique identification your property represents on the Etherland’s Metaverse.
First Land ID created
We have begun the building the Earth Metaverse process with famous landmarks. The landmark places displayed on the Etherland marketplace, in the form of collectibles, are freely tradable in a decentralized manner.
The Universal Real Estate Code
The Code is composed of the first letters of the country code followed by the letters of the city code and other letters corresponding to the property type added by the number corresponding to the order of tokenisation in the marketplace.
Let’s see how it works in practice like, for example, the Eiffel Tower:
Country: USA: US
Property Type: Landmark: L
Sub Property Type: Monument: M
City: New York: NYC
The tokenisation order: 1
Statue of Liberty number on Etherland’s Metaverse is US.L.M.NYC.1
Using this system, ultimately, we will create a Land ID token on the Etherland Blockchain for the whole world and every property on Earth. It is billions of home that will be impacted by Etherland’s Property Identification System.
The 1st tokens have been minted and the marketplace opens soon!