NATIVE LAND

Native Land is an on-chain ERC-1155 Non-Fungible Token collection. Each real estate property in the Briky Land ecosystem will be securitized and tokenized into a unique set of tokens in the collection. Trading fractionalized real estate with Native Land NFT provides innovative advancements: cross-border market, high liquidity, wide-ranged investment value, minimized intermediary fee, etc., and numerous fundamental benefits from Blockchain and Smart Contracts.

The real estate mechanism is implemented based on ERC-1155 standards, which is the combination of the two most novel token standards ERC-20 (Fungible Token) and ERC-721. In the particular use case of Briky Land, a real estate joining the ecosystem will be tokenized into a set of tokens with specific metadata identifying the asset, with the supply chosen by the original owner. While the tokenization process, which may contain several local administrative procedures, will require manual operations from Briky Land's staff, any trading or transferring actions afterward are directly decided by each token holder according to functional standards.

The Native Land also implements the ERC-2981 standard, which proposes a royalty payment on each trading transaction (formally applied by all notable NFT marketplaces) as a fee for the Briky Land platform. The royalty fee is implemented to be proportional to the trading value but the rate is promised by Briky Land to be set less than the average of the traditional market.