CryptoThrust X LandBox AMA
Guest: Etham (marketing head)
Hello. My name is Etham and I am in charge of marketing in Landbox project.
Landbox is a blockchain real estate project established based upon professional experiences in the existing real estate development and education industries. By utilizing “prop-tech” — a tech solution combining blockchain with real estate development — business development can be expanded. The first service product offered is “AuctionOK”, an online real estate auction service based on blockchain. This product is aiming to solve the various inconveniences of the existing offline-based real estate auction system. A patent application has been filed to provide an online, non-face-to-face real estate auction service using blockchain.
Online real estate auctions lower the entry barrier for customers to participate in online real estate auctions and thus contribute to the expansion of this field.
Segment 1- Project Introduction
Q1) What is Features of Landbox Project?
LAND Token is the utility token on our platform. It will be used to incentifies the users on the platform.
Our platform has a few features but currently Auction OK is our first feature, which is blockchain based Real Estate Auction Platform.
Second we are preparing is Auction OK School, which is information sharing platform.
There are more services we are planning but those two will be the main.
Q2) Partnerships are very important for the project growth, can you share with us some of your partnerships?
Right now, we have IntelliQuant which is crypto trading partner, GOPAX which is Well Known Korean Exchange, and few more. You can check our partners on our website and we are preparing more partners in the industry and crypto world. Also We have partnered with Korea blood Cancer Asso. For donation auction. :) the donor will get NFT certificate for their donations.
Q3) we have seen Investment in Real estate have been always a good option, will adding blockchain factor give more reasons to invest in ?
Landbox is not a company invest in real estate directly, we are prop tech company in the real estate industry.
Yes, blockchain is key for the trust in the Auction Platform.
“method for providing intact [contactless] real estate auction service using block chain.” The patent technology allows the encryption of auction bids and the storage and management of such information on a blockchain network, which prevents unauthorized manipulation of the bids entered online. By providing a contactless blockchain property platform, this technology also significantly eliminates the inconvenience of conventional auction system which requires bidders to be present at each bid site.
Q4) Please briefly tell us about $LAND Token. What are it’s utility?
· Rewards in accordance with Auction OK’s inquiry/answer/curation/content sharing
· Auction OK real estate expert service payment
· As the platform currency, LAND Token may be paid by users to access third party projects
which they have connected with on the platform
· Holders of LAND Token will be entitled to tiered membership benefits
· LAND Token is accepted as the platform currency by the platform when a user accesses
services available on the LANDBOX Platform, for example real estate brokerage, appraisal or
Those are in our whitepaper. We are brainstorming more stuff for the future as well.
Q5) What can we expect from Landbox in near future, any new event/update?
We are preparing more partnerships in near future. Also Auction OK App developement.
We are also preparing Auction OK School. I am not sure when it will be done and you can actually see the product but we are developing now.
I think we can launch in this year.
Segment 2- Questions from Twitter
Q1) How can LANDBOX solve problems of the current Real Estate Market?
It is important to identify what is the problem in the first place.
We are focusing 1 problem first. One of the major issue with Real Estate Auction system in Korea is that you have to go to offline court to participate the auction.
Reason is that online method cannot be ensured by participants that the auction bid data is not manipulated.
“method for providing untact [contactless] real estate auction service using block chain.” The patent technology allows the encryption of auction bids and the storage and management of such information on a blockchain network, which prevents unauthorized manipulation of the bids entered online. By providing a contactless blockchain property platform, this technology also significantly eliminates the inconvenience of conventional auction system which requires bidders to be present at each bid site
The patent also includes a method of encrypting multiple bid logs after the conclusion of each auction sale. AuctionOK platform encrypts all properly entered bids so that the information about the bid price is hidden from everyone. After the bidding period is over, the bids encrypted into the blockchain network are decrypted so that the bids may be compared, and the winning bid selected. This allows the winning bid amount to be compared and verified with the one recorded in the value encrypted in the blockchain and ensures that there was no data compromise.
Also, usually information is not provided to every player in the real estate market.
Buyers usually do not have enough info to make decisions as far as auction goes.
So, we will provide platform that experts share their knowledge and information can be consumed by others.
Q2) Could you explain to me how the Landbox real estate auction platform works “Auction OK”? If you run real estate auctions, will it be able to hold a lot of money? How can users trust this Platform? And is it available for both IOS and android?
It does not need to held a lot of money in it. It is platform not actual buyer. Buyer(winner) and seller shall transacted to each other.
Users can trust platform by confirming the data on blockchain. every bidding data is stored on blockchain and can be confirmed.
Yes, we are developing apps now, it will be launched by this year.
Q3) You refer to yourself as a “Global platform for the exchange of information and real estate investment”, but could you really explain us about this “exchange of information” that Landbox provides?
Auction OK is auction platform and it should have community in it.
Auction OK School is a community service where users can share their knowledge about real estate. The users are able to share the information and knowledge regarding the real estate, and share the answers, columns, videos, etc. of the real estate specialists that are verified by Auction
OK. The participants of Auction OK will be receiving community activity rewards and LAND points depending on their contribution rate, which can be traded into LAND tokens
Q4) Will Landbox be directly associated with large local construction and real estate franchises? So Will Landbox seek to be a totally independent real estate and construction company?
We are more associated with real estate agencies not the constructions. Currently working on the on-boarding platform for real estate agencies so that they can sell their properties on the Auction OK.
Q5) The LandBox’s Business Model is based on a remote real state education platform and real estate investing platform, how do you plan to optimize the real states transactions in a smart-digital way incorporating blockchain?
Blockchain stores the bidding data not the actual real estate selling transactions. Korean government already have the system for it. We are providing the auction system for better liquidity and selling method.
When executing the bidding process, the bidding & key information is managed using the block- chain, and when this information is controlled by one server the problem will grow when the security issue occurs. To disperse this information, it uses 2-way management, which separates the key server and web server so that each server only manages on information (key server manages the bidding password key, and web server bidding information). Here, it is designed to indirectly control the blockchain by having the controller server in the middle, rather than controlling the blockchain directly. This is to manage the owner key information required for controlling the blockchain more safely.
Segment 3- Live Telegram Session
Q1 What if there is a dispute between the seller and the buyer, how will Landbox mediate it? and is there any aspect of legality and legal force in this transaction?
Oh this is acually a good question. Yes it could happen. We will provide consulting service for buyers and sellers. There are actually agent that will handle this matter. Real estate is not just crypto or stock. Its not traded by exchange. :) And yes there will be legal stuff. Haha. They need to register to korean government
Q2 Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team??
This is on our whitepaper. Please read them though. All team tokens are locked until 2022.
Q3 Does #Landbox have a $LAND token that uses the BEP20 network, then where can I buy a $LAND token already listed on the exchange market or Dex or Cex, then has it been audited with certic or otherwise?
Yes. Land token is on Bep20. :)
Pancakeswap has land token. Erc20 and bep20. We did get audit from certik as well. Please check our medium.
Q4 Can you please give us an overview of Tokennomics? And is there any plan for $LAND native tokens burn, mint, or issue new tokens in future?
All tokens are already minted. We have burn plan each q. We already did token burn once. Planning to burn more.
Q5 Does your project support staking program?if yes. how is your stake system work, what is the requirement for user if they want to stake in your platform?
Not yet. But we are planning. We call it Land-fi. Its also on our whitepaper.
Q6 Do you have an NFT launch plan for Landbox? Recently, many projects have launched NFTs to attract investors, how is your view of the NFT industry?
We have kinda NFT auction market on our Auction ok. U can check current NFT auction with Guhada(Temco project). Nft will be mass adopted and its already happenning Right now, we are issuing nft cetificate for our donation auctions. :)
More information about Landbox:
Website : https://landbox.io
Telegram Ann(EN) : https://t.me/landbox_ann
Telegram Ann(KO) : https://t.me/LandToken
Telegram (EN) : https://t.me/landtoken_en
Telegram (KO) : https://t.me/landbox_kr
Landbox Youtube: https://bit.ly/3sLiiH0
Auction OK Youtube : https://bit.ly/3sOQl16
KakaoTalk : https://open.kakao.com/o/gvPKHplc