Like the fabled lost city of El Dorado, the City of Gold (CoG) project is built to let participants live in their own custom-built world where real-world participants create wealth by staking their claims in the ever-growing world of digital real estate.
According to the project’s Discord channel, they aim to create the world’s first “own-to-earn world where token holders generate passive income through land staking.”
Built on the Unity platform, this is a metaverse that allows players to own their own plots, sell via e-commerce hubs, visit entertainment venues, and participate in the platform’s challenges and games. According to their public-facing roadmap, a plot of 10,000 NFTs will be minted, with each owner receiving a plot that includes a mansion as well as a governance token to participate in the City of Gold DAO.
The CoG collection will issue each holder a token representing a piece of digital property. Think of it as virtual real estate. Each plot is unique, offering a customized layout of bedrooms, bathrooms, and other features. All plots are minted via ERC-21 contracts, and all players can earn $COG tokens.
The project also uses a play-to-earn (P2E) model where people can also earn passive income by staking their landholdings paying $COG tokens, and attending community events.
Whether the project succeeds will depend on the ability to draw consistent engagement from its token holders. It’s why community is such a big part of why major NFT projects like the Bored Ape Yacht Club. Members view their NFT community as being part of a movement.
On the community-building front, the CoG founders were present during the recent Miami NFT week. The founders and partners were rolling around the town in custom-wrapped Rolls Royces, pasting flyers all over town, and sponsoring events throughout the weekend.
Another highlight was their scavenger hunt in downtown Miami:
(Image Source: https://twitter.com/cityofgold_io/status/1511158910564110338)
As a veteran marketer, the project’s founder, Gabriel Pfeifer, knows that the key to success for any business lies in its uniqueness in the market. On that front, the City of Gold is putting together a “utility stack” unlike any other NFT or metaverse project. According to Pfeifer, the utility value he and his team build into these NFTs should make it a no-brainer for people.
First, unlike the cartoonish or block-based worlds of Decentraland and Cryptovoxels, the City of Gold is built on the Unity platform, which has created a life-like Insta worthy environment.
(Image source: cityofgold.io)
Next, the roadmap calls for a series of events where token holders can hear top names in the world of business and investing to let the CoG community learn what it takes to build a successful business or make smarter investment decisions.
Because the NFT world has seen its share of scams, Pfeifer wanted to address that by creating a space where people can learn principles to make smarter decisions and avoid rug pulls.
Lastly, token holders can go through an incubator-like program where they can build their own communities and pitch their own projects.
Asked about how he sees the project developing in the years ahead, Pfeifer understands how the technology behind NFTs and Web3 can change how business is conducted. In the end, he says the City of Gold “is a world built for entrepreneurs by entrepreneurs where you get paid to leave a mark on history.”
Disclaimer: Perform your own due diligence and seek financial guidance on any investments made. This material is for informational and educational purposes only. Nothing within this document serves as financial advice.
Resources:
Project Web site: https://cityofgold.io/
Twitter: https://twitter.com/cityofgold_io
Instagram: https://www.instagram.com/cityofgold_io/
