Sculptures, paintings, dinosaur bones, coins – people have been investing their resources into buying artifacts that define their identities since the start of civilization.
Today, you can find various collectibles that are blockchain-based ranging from kitties and puppies to tiny monsters and pandas among others. Cryptocolletibles are distinctive, nun-fungible digital assets and here is how PixelProperty seeks to transform this niche area in blockchain technology.
What Is Pixel Property?
PixelProperty intends to build upon the revolutionary technology of creating digital collectible products to create more valuable digital property complete with proof of tenure.
The company plans on setting up a continually changing billboard in one of the popular cities of the world. Users will then be given the opportunity to edit the digital canvas in real time through the PixelProperty website. Each area on the canvas represents a tradeable property and can be customized to the user’s needs.
Pixel Property Blockchain Physical Art Canvas Benefits
PixelProperty provides a great opportunity for people to share, interact and grow a powerful digital canvas. This approach has a massive potential of spurring artistic battles between users, which could lead to great pieces of art, or it can even be used for collaboration works between different artists.
Advertisers can also use the canvas as a way of reaching their target audiences more efficiently. Best of all, PixelProperty will consistently reward users with PXL tokens for contributing to changing the billboard canvas.
Pixel Property PXL Token ICO?
The initial coin offering or ICO has become the largest trend within the crypto field. It represents the idea of preselling coins of certain tokens or cryptocurrencies of a certain blockchain project as a fundraising method for developing new applications.
PixelProperty is unique in this area as it does not offer any initial token distribution. Instead, the company has decided to use a distinctive distribution model that is based around the usage of the digital canvas. Contributors and owners constantly edit the canvas attain payouts in the form of PXL tokens.
Pixel Property Significance Of This Incentivizing Token Approach?
By using incentives to generate PXL tokens, PixelProperty has ensured that property trades or purchases are not based upon the prices of other cryptocurrencies. The PXL value will therefore be tied to how successful the digital canvas is and not based on other currencies.
Creating this sort of free market conditions between the PXL tokens and digital cryptocollectible properties allow the prices of the properties to be determined by market demand.
How Will Pixel Property Make Money?
Since we have already established that PixelProperty will not offer an ICO, how do they plan to pay for upkeep of their services, software development, advertisement, software development and other administrative tasks? Well, PixelProperty has decided to base their initial earnings on selling system-owned digital properties, which amount to 10,000 and can be bought with either ETH or PXL.
The system will also apply a 2% charge on all sales of digital properties between users.
Pixel Property Conclusion
At the day of the contract launch, all digital properties will be available for sale besides ten reserved collectibles that are set aside for advertisements, giveaways and also the software development team. The prices start at 1000 PXL and 0.0195 ETH. Expect the property prices to scale up or down as inflation increases or decreases, thus deterring hoarders from buying most of the digital properties on the first release date.