What is LandWorks? LandWorks is a Metaverse Land Rental Marketplace built on Ethereum. LandWorks developed by the EnterDAO team allows users to rent Metaverse land in Web3 games.
Let’s find out more details about this project.
What is LandWorks?
Contrary to many other Marketplaces like Opensea, which only focus on the market for buying and selling Non-Fungible Token (NFT). LandWorks enters a newer niche market, focusing on the rental market, especially real estate rentals on Metaverse.
LandWorks Overview
LandWorks cooperates with major partners such as Decentraland and Voxels to bring passive income to Landowners. Meanwhile, Renters can rent land to build Metaverse without having to spend a large amount of money to buy land.
LandWorks operating mechanism
- Step 1: Land owners of Decentraland and Voxels projects list land they want to rent on the platform. Full list of information such as: Rental time, rental price, coordinates.
- Step 2: People who want to rent land choose the land that suits their needs, click to confirm the lease and pay the fee to the land owner.
- Step 3: Once the transaction is complete, the land owner will forfeit 3% of the fees earned to the platform. This fee is called Protocol fee managed by EnterDAO, the fee can be changed through Voting.
Pooling
This is a quite prominent mechanism of the project. When Renter rented 2 adjacent plots of land from 2 different people. Renter can combine these two plots of land into a large piece called Estate.
The LandWorks difference
Normally, Marketplace projects only focus on the market for buying and selling NFT products. Projects focusing on the NFT rental market are rare, especially Metaverse land rentals.
Currently, there is a need to rent NFTs, but most operate under a different model, typically projects in the Gaming Guild segment such as: Yield Guild Games, Merit Circle… These Guilds buy NFTs from projects. Game, Metaverse and then give NFTs to people in the community to play the Game for profit, then divide the profits according to the Guild’s mechanism. Essentially it’s still an NFT rental.
I believe that when the NFT market develops to a certain stage, the demand for NFT rentals will be very high and LandWorks will be a prominent project in this segment.
Development Roadmap
Update…
Core Team
Zhivko Todorov: Co-Founder
- Zhivko graduated from Tilburg University in international law in the Netherlands in 2016.
- Zhivko used to hold a business development position at Rockstart – a venture capital fund that has invested in more than 300 different startups with a value of more than 1 billion USD.
- Zhivko spent 1 year as a portfolio manager at DYNAX invest – a fund that invests in Seed Round, Series A, Series B startups.
- Currently, Zhivko is also holding a business development position at Limechain – a company providing Blockchain and Web3 solutions for businesses.
Nick Todorov: Co-Founder
- Nick graduated from Marketing from National and World Economy University in Bulgaria in 2014.
- Nick has many years of experience in the field of startups, having founded Swip – a company that provides solutions to improve work performance for each individual. Limepay – Fiat to Crypto conversion application.
- Currently Nick is also holding the position of CEO at Limechain.
Investor
- January 19, 2022: Announcement of raising $1.8M from many funds, angel investors, Founders of Crypto projects. Participating funds include: D64 Ventures, 4RC, Delphi Ventures, 6th Man Ventures… Prominent Founders such as: John Patrick Mullin (Founder Mantra DAO), Ivo Georgiev (Founder Ambire).
Tokenomics
LandWorks does not have its own Token but is managed by EnterDAO. Let’s explore the Token mechanism of EnterDAO (ENTR).
Overview information about ENTR Token
- Name: EnterDAO
- Ticker: ENTR
- Blockchain: Ethereum
- Contract: 0xd779eea9936b4e323cddff2529eb6f13d0a4d66e
- Total supply: 100,000,000
Token Allocation
- Seed Investors: 11.39% for Seed round investors.
- DAO Treasury: 12% reserves in treasury.
- Multi Sig: 4.61% Airdrop to wallets that interact with the platform.
- Community discretionary: 6% distributed to the community.
- DAO Staking rewards: 5% is for those who Stake Tokens into the platform.
- Yield Farming: 8% for those participating in Farming.
- DEX LP rewards: 13% goes to liquidity providers.
- Founding Team, Advisors and Future Contributors: 24% goes to Team, advisors and future contributors.
- Landworks Lender rewards: 8% for land leasers on Landworks.
- Landworks Rental rewards: 4% for land renters on Landworks.
- MetaPortal user rewards: 4% for MetaPortal users – Another project of EnterDAO.
Token Use Case
ENTR is used for the following purposes:
- Project Administration and Voting.
- Provide liquidity on DEX.
- Staking rewards.
Exchanges
Currently ENTR tokens are being traded on exchanges such as BKEX, Hotbit, Sushiswap.
Project Information Channel
- Website: https://landworks.xyz/
- Twitter: https://twitter.com/landworksxyz
- Discord:
Summary
LandWorks is one of EnterDAO’s products entering a niche market, with a strong construction team. However, the project did not receive much attention from the community, possibly due to ineffective marketing combined with the decline of the market.
Join Weakhand to monitor the project’s development in the future.