Lost Worlds Launches Version 2.0 of GeoNFTs in Web3 Platform
NY, United States, 30th March, 2023, Chainwire
Lost Worlds is announcing the launch of its latest beta version, LOST V2, on the Avalanche blockchain. LOST is a fully featured mobile minting platform linking non-fungible tokens (NFTs) to the real world while adding value to the LOST cryptocurrency token.
The Lost Worlds mobile web decentralized app (dApp) provides an innovative way for users to interact with NFTs. The dApp bridges the gap between Web2 and Web3 with a real-world use case for NFTs by introducing geoNFTs, a unique form of token that links digital collectibles to physical locations, unlocking new possibilities.
Users can visit lostworlds.io on their mobile devices to start minting NFTs within minutes.
The Lost Worlds platform features a seamless Web3 onboarding experience, enhanced by robust anti-spoofing technology.
Users can connect their cryptocurrency wallet, or if they are new to Web3, they can create their own wallets in less than 30 seconds with just their email address via the fast and secure Lost Worlds non-custodial wallet solution.
Starting today, users can purchase geoNFTs on the platform using their cryptocurrency wallet, Apple or Google Pay, or a credit card. They can also mint geoNFTs using the native LOST utility token. All purchases are settled on the blockchain, and some projects have special incentives that will have a positive impact on LOST’s tokenomics.
Lost Worlds is introducing The Black Hole mechanism, a deflationary model that locks LOST tokens in an inaccessible wallet each time a purchase is made on the platform, decreasing the total circulating supply over time. Additionally, each time a geoNFT is created or minted using an alternative payment method to LOST tokens, such as another cryptocurrency or cash, the platform charges a transaction fee that is used to purchase LOST from the open market and send it to The Black Hole.
Some projects will trigger an additional removal of three times the number of LOST tokens from circulation, creating a circulation and total supply shock tied to the platform’s usage.
Users will also be able to participate in quests to earn LOST token rewards and non-tradable ERC-721 NFT badges, which they can use to gain access to real-world events, token gated drops, exclusive merchandise, online experiences and more.
The more users mint tokens and complete quests, the smaller the supply of LOST becomes, with the aim of driving up the token’s value.
Lost Worlds plans to make more notable partnership and platform announcements in the coming weeks.
About Lost Worlds
Lost Worlds is the first location-based NFT Platform and an essential hub for the geoNFT digital asset community. The platform provides creators and brands the ability to use geo-location as a medium, merging the physical and Web3 worlds to create a new layer of scarcity and utility in the NFT experience.
Users can venture into the real world to mint location-based NFTs using their mobile wallet and the Lost Worlds dAapp. They can find NFT drops including digital collectables, concert tickets, vouchers for merchandise and much more. Users can collect and trade NFTs from projects globally and buy them in the marketplace if they are out of reach. By minting NFTs and completing achievements, users earn LOST tokens, which they can stake to level up and unlock new experiences.
The Lost Worlds development team is committed to continuously innovating and improving the platform, with plans to expand its capabilities and integrations.
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