Some of us are lucky enough to own a piece of our planet. We have land plots and some even have their own islands. How about owning a big part of a whole continent? Well, I now own a part of Central Europe.
My XYO World piece, divided now into four quadruples which are up for sale
I've been stacking XYO via the Coin App (so can you - here's the link, use it to get 1000 COIN for a good start) since last June. Have a bunch of them now. I have used some to spread my referral link via COIN Boss (I've shared a guide how to start and my assessment of results). I am also hodling them and collecting some 50 COIN* per day as interest. There's also another way of using your XYO - buying a piece of the XYO World.
XYO World is a flat map of the Earth divided into quadruples, starting from 4 big ones, each taking 1/4 of the Earth. These quadruples are put on auction and anyone can place a bid and eventually buy them. Once bought, a quadruple gets divided into 4 quadruples which are put on auction. The owner of the parent quadruple receives proceeds from the sale. This process goes on until the quadruples represent a piece of land approx 10x10 meters.
Initially the prices (in XYO) were exorbitant and well beyond my reach. However, the auctioning process has now reached levels 6-7 (ie. 5th or 6th subsequent division) and I have decided to get in. Some areas are still expensive and attract a lot of bidders (like NY or LA), so I looked for something affordable and interestingly found that my part of Europe was up for grabs. So I bought a chunk of Poland, Czechia and Slovakia.
My part of the XYO World
At the bottom you see the quadruple ID, which describes the geo location and size. Starting from the left-hand side, 1 means the NE part of the original World (east of meridian 0 and north of the equator), 2 is the SW corner of that and so on. The World representation was flat map of course. Big parts of the World are waters and many of them are up for grabs for little XYO.
At the top you see the price in XYO that I paid. 130K XYO is about $32. What did I get for that? A geotoken. Now, the way the auctions are organized, the best part of the price actually is paid back to the buyer. Part goes to the owner of the parent quadruple, part gets burnt. Here's is my current balance. It's in the negative, since I bought my piece only yesterday and no one has bought my children quadruples yet.
Balance statement for my piece of XYO World
As of now, there's no real life application for my geotoken. I will get my XYO back and possibly will get proceeds from sales of the children tiles (may lose some, if no one is interested in buying the children quadruples). It's a sort of game at this point, but the concept of decentralized geo locations is very potent one and I am sure real life applications will follow and the value of XYO will increase. People and companies do need verified geolocation data and this is what XYO is all about. I will see how it develops and will update you in few weeks' time.
To learn the rules of the XYO World auction system, please check out XYO World Rules. If I get many questions/comments here, I will commit another article with answers. There are now more than 2000 active auctions, so you have plenty of choices. Central Park? An island in the Pacific? Part of Antarctic? You decide!
Happy geomining!
