Dynamically Adjusted Base Price for OVRLands

Since the launch of OVRLand marketplace, we gained an incredible traction, over 80k lands sold in less than 4 months and lately an average of 2k open auctions every 24 hours.

Our vision is setting an accessible base price for OVRLands, allowing for the broader possible participation to the OVR ecosystem. This will not change, yet we believe that we can do even better by introducing some dynamic price adjustments to the base price for OVRLands. The new base price for OVRLands auction will be dynamically adjusted depending on the OVRLands bids on that geographic location – pricing algorithm will be open-source.

It will work the following way: Given the hexagon you’re interested in, a neighbor map of n hexagons will be drawn, the base price multiplier will be determined on the % of OVRLands already sold in that area. If you bid for an OVRLand in an area where no land has been bought, the base price will stay $10. However, if you bid for an OVRLand located in an area with high demand, the base price will grow up accordingly, to a maximum of 100$. The world is huge and mostly unsold, so it is quite probable that you’ll still be able to buy geographic coordinates in your backyard for $10. Yet, famous locations base price will not be so cheap for long!