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Editor's PickAqarchain unveils NFT marketplace as part of virtual land metaverse project

Aqarchain unveils NFT marketplace as part of virtual land metaverse project

Aqarchain unveils NFT marketplace

Aqarchain, a blockchain-powered real estate asset tokenization platform, has launched its non-fungible token (NFT) marketplace as part of its ambition to establish a decentralized ecosystem where investment in real estate will be simplified through the minting of real estate NFT and fractionalizing it.

Part of Aqarchain’s production roadmap is to roll out AqarLand, a “virtual land metaverse” consisting of 26,118 land parcels in the map Jazeera ONE which will be sold at real world real estate prices.  

“The assets here can be used to populate the land and develop for user monetization. The land with the assets can be imported in the land exploration game of AqarLand,” the firm shared in a public post.

The NFT Marketplace will host NFTs which will be used on AqarLand or in the games in the AqarLand metaverse, expected to be launched in the second quarter of 2022.

For starters, the NFT Marketplace has listed its primary collection, known as AqarLand Assets, comprising 31 NFTs with a cumulative supply of 4,475 variations and traits. Out of this, 3,600 NFTs will be available for sale on the marketplace.

“These NFTss listed on the marketplace in the first release will mainly consist of land-populating NFTs that are very much part of the AqarLand game. One of the key features will be creating farmland and creating various assets and utilities for the game. Early adopters of this supply of NFT will have an option to collect the premium assets,” the firm explained.

These NFTs can be acquired using AqarChain’s native utility token and viewed on opensea as well as traded on opensea or any other NFT marketplace.

In July 2021, it was reported that Aqarchain, in partnership with Shariah compliant blockchain platform Tezos, is looking to launch an end-to-end blockchain platform for the tokenization of the real estate market in the UAE. It was also learned that the firm has plans to introduce Shariah compliant financing products.

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