The NFTs made by OVR are non-fungible tokens that represent different lands within their ecosystem.
In fact, OVR has created a virtual layer that overlays the map of the physical world, dividing it into 1.6 trillion hexagons (i.e. 1,600 billion) measuring 300 square meters each.
Each hexagon is an OVR Land, represented by a singular NFT.
Taken as a full, these virtual hexagonal lands cover the whole surface of the world, and each of them has specific coordinates and a unique name represented by three English words, like blue.sky.dream.
The ownership of every land is assigned through the possession of the corresponding NFT on the Ethereum blockchain.
In this way, each OVR Land may be a unique and tokenized spatial Web domain. Thanks to GPS and Computer Vision, the OVR app is going to be ready to provide Augmented Reality (AR) experiences contextualized to the geographic location, and therefore the landowners will decide what content is going to be shown within the geographic location occupied by their land(s).
OVR Innovation matches hexagonal lands to the placement on the map using their coordinates and names them with a singular code or domain supported three words.
To buy the lands you may have to use the OVR token, which can be sold with a public sale starting November 30th, 2020.
However, it’ll not be an ICO, but an IBCO. This is a brand new way of issuing tokens on the market through a DEX and a bonding curve that foresees that tokens are created given that someone buys them on the market, and burned if eventually resold to the bonding curve itself.
For this reason, although there’s an initial price, the acquisition price will actually be set by the market.
In the future, a marketplace will be released for content creators which will allow landowners to shop for content to feature to their lands.
Augmented Reality could be a technology that permits, through apps, to feature content in the physical environment, creating the illusion that the real world and virtual content coexist within the identical space.
In the OVR app, the contents positioned within the lands are shown at the position of the lands themselves.