Magellan - THE WORLD'S FIRST GEO-BASED NFT PLATFORM WITH AR AND GAMEFI FUNCTIONS

Web3
DeFi
Magellan - THE WORLD'S FIRST GEO-BASED NFT PLATFORM WITH AR AND GAMEFI FUNCTIONS

Project Description

Magellan is a geographically based next-generation NFT platform. We bring traditional NFT assets a new key attribute, geographical location, increasing their utility and usability, and bringing them into a 2.0 era. Based on this core attribute, NFT assets can be applied to a wider range of scenarios, expanding from its traditional usages of simple display and trading. Some simple applications include:

  1. Nike using geotags to define its NFT purchasing rights, limiting customers to only people that exercise daily
  2. Starbucks combining NFT launches with the locations of offline stores
  3. Louis Vuitton releasing limited edition NFTs when launching their Asia flagship in Tokyo
  4. Disney creating an NFT treasure hunt in its amusement parks using ultra-precise geolocation technology ALONG WITH CONTRIBUTING TO THE KEY ATTRIBUTES OF NFTS, WE WILL ALSO MAINTAIN COMPETITIVE ADVANTAGE IN THE RAPIDLY DEVELOPING NFT MARKET WITH THE FOLLOWING INNOVATIONS:
  5. One-Stop NFT Solutions We will provide brands with one-stop NFT solutions, including topics regarding NFT generation, management, and sales. The supply of NFT assets plays a pivotal role in NFT platforms—we hope to provide brands with a holistic solution in quickly creating NFT assets, connecting brands with the crypto world in the most efficient manner.
  6. Going Mobile Our business model builds upon that of mobile platforms. The previous generation of NFT trading platforms are web-based and do not consider the business ecology of going mobile. In particular, policies regarding app store listings and the in-app purchases of blockchain assets have created high purchasing barriers for consumers, causing nine-step NFT purchasing processes on web-based platforms. We plan to fully embrace the Apple and Android ecosystems, creating a more efficient channel to buy NFTs with fiat currency, effectively ridding consumers of the nine-step acquisition process and simplifying it into a one-click purchase.
  7. Increasing Accessibility Through Blockchain Mass-Adoption By making our platform more accessible (in terms of ease of use), we're able to fulfill the growing demands of newcomers in the NFT market. We hope to launch Magellan as a global infrastructure for blockchain mass-adoption, with innovations including but not limited to: Our product will use the wallet authentication infrastructure Web3Auth, allowing us to provide users with a payment system (i.e. wallet) with low barriers of entry. This payment system uses Web3Auth's encrypted authentication suite and eliminates the need for mnemonic password phrases, thus lowering the threshold for newcomers to enter the Web3 sphere. Users can utilize existing social media accounts to directly manage their keys and can also easily trade for crytopcurrencies with fiat, avoiding the cumbersome KYC process entirely.
  8. Keeping the Transaction Process Interesting We have also added gamification elements to our transaction methods, including capture transactions, social purchases, and sales mapping designs—all of which can improve the long-term retention of NFT consumers. This will also make the transaction process more interactive and captivating, satisfying the marketing needs of brands when they collaborate with our platform.
  9. AR Presentation In terms of presentation method, we have integrated the world's most advanced AR technology. With this, users can interact in the real world with their NFT assets, providing them with a truly immersive NFT experience.
  10. 3D Avatars We will present each user with a unique 3D Avatar, with which we can insert social gamification into the platform, thus boosting user exploration and discovery, elevating their experience in purchasing NFTs, and increasing the platform's stickiness. In fact, we plan to integrate the 3D Avatar with Web3Auth, creating a Universal DID Resolver.
  11. Magellan Land: NFT Real Estate We will launch the Magellan Land feature, in which we will plot land corresponding to the real world on a 3D map and sell them as NFT assets. Owners of these plots can earn fees from each NFT transaction made on their land, pledge land plots, borrow, or sell them. By conveying land ownership to these core users, we can ensure a long-term, binding relationship between them and our platform, creating a sustainable win-win balance.
  12. Magellan Run: NFT Accessories We may launch the Magellan Run feature, in which users can purchase NFT accessories for their 3D Avatar. Once users purchase these NFTs, they will be able to earn perks within the platform by conducting real-life activities related to the NFT. For example, a user may purchase NFT running shoes for their 3D Avatar, and will earn Magellan Run perks when they run, walk, ride a bike, or conduct other forms of physical activity. This will encourage users to explore and interact with their NFT offline, perpetuate more transactions within the platform, and encourage long-term active users.
Additional Information

https://magellan.land/litepaper.html

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