Geopoly New In-game Economy

GEOPOLY NEW IN-GAME ECONOMY

Geopoly Goes Next Level: The Ultimate Real-Estate Metaverse Experience Awaits!

Embark on a journey with us as we unveil the newest version of Geopoly – where the boundaries of Web2 and Web3 gaming are blurred, and a revolutionary economy emerges. Our mission is to introduce the world of Geopoly to an even larger audience and showcase the true potential of mobile games in the era of Web3 adoption. Get ready to experience a whole new realm of game mechanics that will change the way you think about online gaming!

Let’s start at the beginning…

Welcome to the exciting world of Geopoly, where reality and virtuality collide in an epic metaverse of real estate opportunities! Imagine being able to rent and buy properties in the most diverse and vibrant locations around the globe. As you explore our map, you’ll discover an array of real-life businesses that are waiting to be claimed as your own, either through renting or owning.

All properties can be rented, but not all can be bought. You can become the owner of a property only if it is eligible for purchase. Businesses eligible for purchase are the ones available to mint or are already minted as Geopoly NFTs.

Unlock the doors to a world of opportunity with Geopoly NFTs. The hunt for the ultimate virtual real estate empire is on, and there are multiple ways to acquire your very own NFT. Whether you snag one from our website, from a current NFT owner, or discover one while exploring the map on our PC version of the game, the possibilities are endless. To purchase a property on PC, you’ll need to bring your A-game with a combination of geo$, cash, and management capacity. But that’s not all! Soon everyone will be able to buy properties on mobile too, so hold on tight!

With the latest update of our mobile version, you will discover a world where renters, owners, and businesses coexist in perfect harmony. As you explore the map, you will be able to view properties available for both renting and purchasing. Just like in the real world, the competition for becoming a top real estate tycoon is fierce, and you’ll have to negotiate your way to the top.

Renting a Property

Before you decide to rent a property, a rental contract will be displayed on your screen.

Every contract includes the following information:

– Management Capacity: Needed to manage and rent the property.

– Royalty: The percentage of property profits (hourly income) that you will receive from the owner.

– Rental Price: The cost of renting the property.

– Hourly Income: The profits the renter will receive per hour that are generated by the property.

By familiarizing yourself with these key elements, you can make a well-informed decision when it comes to renting a property.

Royalties

The royalty percentage is set by the owner of the property. In this unique digital landscape, properties can be owned by either Geopoly, represented by the entity known as “Biggy”, or by individual users. Properties that are solely eligible for rent and not purchase are owned by the Geopoly Bank.

When the property owner is either Geopoly or Biggy, the royalty is fixed at a standard 50%. However, when a user owns a property, they have the flexibility to adjust the royalty percentage between 25% and 75%. This setup will have a direct impact on how the hourly income generated by that property is distributed between the owner and the renter. As you consider renting a property, be sure to pay close attention to the royalty percentage, as it will play a significant role in determining your potential earnings.

When it comes to renting NFT properties, the royalty percentage is a key element to consider. The good news is, the default royalty for all property owners is set at a generous 50%. However, owners have the flexibility to adjust this percentage at any time through the property card of their business.

It’s important to note that any changes made to the royalty percentage will only take effect once a new renting contract is signed. This means that ongoing contracts will not be affected by any changes made to the royalty percentage. This allows both the property owner and renter to plan and budget accordingly, without any unexpected changes to their earning potential. Owners will be competing amongst themselves and Geopoly for renters, so they must think wisely about their strategy when setting up the royalty. So whether you’re an owner looking to maximize your profits or a renter seeking the best earning potential, the royalty percentage is an essential factor to keep in mind as you navigate the exciting world of our NFT properties.

Business Owners (NFT Holders)

If you own an NFT you are able to win cash and GEO$ by playing Geopoly!

The scoring system used to calculate how much GEO$ the NFT holder earns is multiplied by 3 when another user rents your property, maximizing your earning potential. The amount of cash received will be determined by the royalty percentage established in the contract.

Attention Landmark and Monuments owners! Since your properties belong to the Special Location NFTs, your geo$ scoring will automatically be multiplied by 3, without any renter.

Management Capacity

In order to take advantage of this earning potential, owners must first assign their properties to a branch. This is because properties must have management capacity in order to be eligible for rent. They also need to be restored. If your property is not assigned to a branch and is not restored, it will be “impounded” and will no longer be eligible for rent or earnings.

The good news is, to make this transition as easy as possible, we’ve added a new upgrade level for all branches, giving you the ability to acquire even more management capacity for your properties. So, whether you’re a new property owner or a seasoned pro, you can rest assured that you have the tools and resources to take full advantage of the earning potential of your NFT properties.

Upon renting, the management capacity will be divided equally between the owner and the renter. The renter is responsible for ensuring that the property is properly looked after, making any necessary service upgrades, and restoring the property before it reaches 0% capacity. Failure to do so will result in the termination of the contract. Once the renting contract is over, the full management capacity and the responsibility to restore the property will return to the owner. It’s also worth noting that properties cannot be self-rented. This means that the owner cannot rent their own property to themselves.

Owners can decide not to put their properties for rent. They can select this option on the business property card. In this case, the total management capacity needed for the business, service upgrades, the responsibility to restore it, and total hourly income will belong to the owner. It also means that geo$ will be earned normally and with no special renting boost.

Are you ready to take your in-game real estate experience to the next level? With our latest update, we’re excited to introduce revolutionary new features that seamlessly merge both Web2 and Web3 in-game economies, opening up a whole new universe of possibilities for our players.

This update grants you the power to choose from a variety of strategies to achieve your goals, making the competition to become the most successful real estate magnate and billionaire more exciting than ever before!

We hope you enjoy this new update and we’re eagerly awaiting your feedback. Let’s take the in-game real estate world by storm together!