Lost worlds is working to make NFTs alluring to users while offering actual value for them, as well as for creators. By creating hybrid experiences in which the physical and virtual worlds intersect.
This is possible not only because of the intersection between the physical and digital worlds but also because the team is developing in such a way that the technical aspect of NFTs doesn’t become a hassle for potential users.
When Pokémon GO launched in 2016, millions of people all over the world found themselves exploring their cities hoping to catch their favorite pokemon.
The game’s success meant that it became the first app to make Augmented Reality mainstream, showing people that the technology could be part of their daily lives.
Today, Lost Worlds is looking to do the same with NFTs by making them more interactive and fun through its geoNFTs.
This new and unique expression of NFTs allows anyone to create and mint digital collectibles that can be geographically linked to a physical location which users can then explore to add the geoNFT to their collection.
With geoNFTs, anyone can create custom digital assets that can be linked to real-world locations like stores, museums, or events. This, of course, opens up a world of possibilities for creators, businesses, and collectors alike.
geoNFTs: It’s All About Location
As the name suggests, and was previously mentioned, geoNFTs are NFTs that have been linked to a geographical location.
Once Lost World users visit and explore the location, they will be able to have them minted and added to their collections. Users are then able to keep these geoNFTs in their collections or to trade them freely with other users using any secondary market they choose.
Businesses and creators can use geoNFTs to get interaction from existing and potential customers/followers. By having a drop spawn at their location, they will be able to get increased engagement, develop loyalty programs, and convert collectors into customers.
To prevent fake engagement from taking place, Lost Worlds has implemented strong anti-spoofing measures. This means that users won’t be able to fake their location by modifying GPS data, using VPNs, or other methods that have become popular with other location-based platforms in the past.
Ease of Access is Key
As the team behind Lost Worlds wants to make its platform as accessible and easy to use as possible, they have chosen to offer it through a web application. This means that users can access it directly from their browser without having to download it.
Not only does this mean immediate access but also makes it easy for users to interact with Lost Worlds through their favorite device, no matter what it is.
Following this line of thought, Lost World doesn’t require its users to use a crypto wallet to mint the NFTs as this is often one of the major challenges preventing new users from using NFT platforms.
Instead, users who are not familiar with or don’t want to deal with crypto will be able to use the Paper Wallet option, which will allow them to pay via credit card or Apple/Google Pay.
Those who opt to connect a crypto wallet will have access to some of the most popular names, including WalletConnect, MetaMask, and Coinbase. The process of collecting or creating a wallet takes less than 30 seconds, meaning that users can start using Lost Worlds without any hassle.
Bringing Interactivity to the World of NFTs
The potential for NFTs to be more interactive and engaging with the physical world is enormous but has not really been explored by blockchain developers.
Lost Worlds is at the forefront of this new frontier which is the creation of hybrid experiences by not relying on speculation to provide value. This means Lost Worlds users need to interact with the platform and creators in an intended manner, as paying is not the way to acquire geoNFTs.
Lost Worlds makes use of a system reminiscent to that of Pokémon GO’s “PokéStop”, which relies on radiuses at determined locations. Once the user is within this radius, they will immediately be eligible to mint the geoNFTs available in that drop.
You can explore the world here and find NFTs near you here.
Creators can personalize the radius of their drops, going as big as generating state, country, and global drops or as small as a business location.
To users, this means they can scroll through a list or explore a map that will show them the drops they are in the range of, as well as those closest to them.
Lost World gives users the ability to explore with the sole purpose of getting new geoNFTs, making the experience more interactive and allowing for innovative applications like exploration challenges or hunts.
Lost World has also introduced a “Quests” feature which is just what it sounds like. Creators can choose to have users meet certain conditions to earn these achievements, which will in turn reward them with prizes like geoNFTs or LOST.
Meet LOST: The Cryptocurrency Powering Lost Worlds
Lost worlds makes use of the LOST token, a deflationary cryptocurrency that will see its supply decrease over time as a percentage gets regularly burned with every transaction.
This includes transactions relying on fiat currencies, as the fees generated are used to acquire LOST tokens and have them burnt.
LOST is the soul of Lost Worlds despite users being able to use fiat. Not only will users not using fiat be required to pay for every minting using LOST but it will also be rewarded to users as parts of drops and quests.
The token ensures that interaction is always taking place and all users are incentivized to actively engage with each other (creators and collectors).
Users will also be able to stake their LOST to generate passive gains, a model popularized by Decentralized Finance (DeFi) platforms years ago.
However, Lost Worlds has introduced an interesting idea to this staking: for every LOST emitted as a result of staking, the same amount will be burned. This means that users can actively incentivize the burning of tokens, which in addition to the emission of LOST will result in increased gains for them.
The Road So Far and Ahead
Lost Worlds was first envisioned by Ad Executive Quaison “Kwaysin” Carter and IBM Engineer Adam Sawicki back in 2021 during the peak of the NFT hype. What originally emerged from a brainstorming session via Telegram would eventually become the main project they were working on.
Since then, they have integrated new members into the team and developed a product that is taking the world of NFTs by storm.
Lost Worlds’ beta became publicly available as part of Avalanche Summit in 2022, gaining support from over 35 brands and projects who chose to create their own geoNFTs.
The team has also successfully implemented LOST’s Initial DEX Offering, completed a private sale, got listed in exchanges like MEXC and Pangolin, and introduced important features like quests, staking, Paper Wallet, and credit card checkout.
The team is now focusing on launching LOST V2, the second version of its beta which will come with a mobile web dAPP and many of the features the team has developed so far.
Partnerships have also been a big part of the team’s efforts, which has managed to onboard important communities like Avalanche Summit, Continents, and Portals.
Source: https://blockonomi.com/lost-worlds/