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A Deep Dive Into Bit.Country
Published date: March 21 2021
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What is Bit.Country?

Suppose that you are a growing rapper, you will want to grow your fan community, right? So let's pick a popular social platform like instagram, Facebook, Youtube…., and everything is still going well at the beginning, your post can still reach your fans, all of your content received millions of likes and shares. Suddenly, one day, the interactions of your article start to decrease, day by day, nothing else happens, and there is nothing wrong with your posts. You gradually realized that there’s no free lunch and you have to pay for the platform to make things normal again. Every single person/project/business has met this problem once and things after that usually “not going well” because the cost of marketing is very very expensive. But here comes the Bit Country, Bit Country is a decentralized word built on the Substrate framework of Polkadot. With Bit Country you can create your own “bit country”, your own blocks, session and items as digital assets. You are the one who controls your world, your community and can decide the way your “bit country” grows.

Problems solved by Bit.Country

As mentioned above, Bit Country aims to help anyone (especially new users to the blockchain) to create their communities, economies as Bit Country on the blockchain network. You are the one who set the rules of your world and no one can control your world but you. Bit.Country provides a new way to socialize with a game feel, while also being driven by the real economy. It is a decentralized virtual world platform with token economies and governance. Everyone can start their own virtual world with their own fungible or non-fungible tokens, timeline view, and 3D virtual world view. 

Community owners, influencers can utilize the platform and protocol to grow and engage their audience.

The Most Characteristic Features of Bit.Country

Bit Countries (BCs):

A Bit Country is a sovereign virtual world with its own space, its own currency and its own governance. With a system inside the Bit Country platform, you can create your own bit country and attract people to join by using your rules and policies set by your will and/or community governance. Grow your bit country and monetize your community without asking anyone else permission.

Blocks

The core unit of area with a coordinate in a bit country’s map. A block is the categorization and container of content in a community. Content will belong to one of the blocks that make up the whole Bit Country. 

Each block can also be visualized in a 3D voxel view (Dimension View). Within the land of the block, the area can be subdivided into sections independently ownable and tradable. In these sections, the landlord can place assets to provide services,  display NFTs, and run events.

Currency & Economy

Create or import a currency for your bit country, and incentivize the people who contribute to your community. The currency serves two purposes, one is utility and the other governance. Your members can use the currency to pay for services and assets; or to have a say in the growth and policies of the Bit Country.

Incentives are set or altered by policies in the bit country. The incentives can cover activities such as referring other users; creating content; receiving likes, views or shares of your content; moderation; and more. Rewarding the user and promoting actions for better growth.

As your community grows, your currency will gain value on the exchange. Everyone in the community will benefit from this. Bit countries can be auctioned, rewarding all who had a stake in it. (Imagine a bit country with 100,000 active users)

Residents

Become a resident of Bit Country. Explore and find one that suits you in terms of policies, incentives, and settle in. Being a resident grants you multiple rights, such as the right to own land, create content, participate in the business, and more. 

You are welcome to be a member of any number of bit countries. A Bit Country can set policies for immigration, some welcome everyone and even reward you for joining, while others may need you to apply for residency with an application or even a fee.

A Bit Country can allow non-residents a level of freedom to view content but activities are limited in this state.

Ownership & Governance

Staked residents are able to cast their vote in policies, propose new policies, and more; related to the bit country’s sovereignty. Staking into the bit country is an investment, the stakeholder may be rewarded a share of the bit country’s revenue relative to their stake depending on the policies in place.

Continuum - Universal Map

The Continuum is a map of bit countries with a limited number of coordinates. Its future shape will be completely driven by the community members. 

New spots will be proposed according to the on chain algorithm. The parameters for proposing new slots consist of the number of BCs, population and activeness of the ecosystem. The location of the new slot will be determined by BCG holders.

A Bit.Country can participate in the auction for a spot on the Continuum. Once the spot is secured, the bit country will receive a share of the platform’s revenue among other benefits that are still under consideration.

Other ideas being considered by development team currently include:

  • Council/committee position for the bit country to vote.

  • Possibility to receive sponsorship from the platform treasury to cover costs/encourage growth.

  • Bit country Local tokens are allowed to be listed in the liquidity pool.

  • Only Bit countries on the Continuum can be staked.

Governance of Bit.Country Network

Obviously, BCG holders and councils will co-govern the Bit.Country network. 

Marketplace

Bit.Country team is building a decentralized marketplace for auctions. The auctions and deliveries of items will be completely decentralized and governed by the blockchain. Not only do they support Bit.Country chain native assets, but also provide support for external assets (NFTs) to be traded on the platform once imported.

Trade your NFTs with residents within the same block, bit country, or entire network. Promote them in the dimension view for awareness.

Smart Asset — Asset with Smart Contract

A smart asset is a pairing of 3D asset and smart contract behavior. A 3rd party can create smart contracts and other media assets to be paired together as a smart asset. Available for purchase by landlords to place instances of them on their sections.

These smart assets are able to facilitate events and services within the block via the smart contract or the block features made available by the platform.

Utilities Of Bit.Country Tokens

The native chain currency of Bit.Country network is BCG (Bit.Country Gold). Bit.Country Gold can be used to perform many of the activities on the platform such as:

  • Staking for great communities

  • Universal currency for purchasing resources

  • Promotions

  • Gas fee for transactions.

    • Purchasing smart assets from the store.

    • Trade on the marketplace.

    • Currency exchange.

  • Paying for rent, land & minting NFT.

  • Paying for continuum spot fees.

Token Distribution

https://syndicator.vn/wp-content/uploads/2021/03/tokenallocation.png

The distribution model for the BCG token is:

  • 5%: For ecosystem programs.
  • 25%: For investors.
  • 20%: For founding group.
  • 50%: For the general public.

Roadmap

Right now, Bit.Country is waiting for permission to deploy Bit.Country on Rococo Parachain. Also, Bit.Country testnet, Tewai chain, is live. Furthermore, the Development Team is developing a virtual world for Chiba Art Gallery.

Partner and Cooperator of Bit.Country

Conclusion

In the future, the virtual world may become very popular not just because of the gamer but thanks to Bit.Country, the virtual world can help organizations, artists create their own world, setting their own rules without asking any permission. Additionally, NFT will be a very useful weapon for the music and film industries to win the war on piracy.