Purchase of Land
Land purchases will be conducted by Dutch auction. That means that bidding will start at a ceiling price level and the price will decline until somebody bids for the plot. Early on we anticipate that land prices will be far below fair market value as people are building up their reserves of IMERS. Ultimately as more people play the game, we expect the value of land to increase. This means that the earlier you join and acquire land, the greater likelihood you can watch the value of that investment grow.
Building your Guildhall
Once you acquire land, the building of your Guildhall is pretty straightforward. A Level One Guild, worth 1,000 IMERS will allow for up to five traders. The IMERS tokens are staked which means your IMERS are not spent, they are locked in your wallet. It remains locked for as long as you have that Guild. A Level Two Guild (for up to 10 traders) is valued at 2,000 IMERS and a Level Three Guild (for up to 15 traders) requires 4,000 IMERS to be staked. And while it gets progressively more expensive in staking terms as members increase so do the odds of winning. This is because when a Guild member wins a competition there is a commission payout to the members of their Guild. There is also a commission paid to their Guild’s treasury. Simply put, the larger the Guild, the greater the opportunity to WIN.
Customizing your Guildhall
Lastly, over time you will be able to use your accumulated wealth to add unique features to your Guildhall. This includes furnishings, artwork and penthouse apartments for Guild partners.
We anticipate that auctions will start about 6 weeks after game launch later this week.