One of the problems of NFT images is that they are readily available. While owning the blockchain token means a right to trade, the content itself is not as protected. Enter the newly emerged section of location-specific or geo-tagged NFTs.
What is the Common Core of Geotagged NFTs
The general idea behind NFTs is that their token record can also contain geotagging metadata from devices or other inputs. This means the NFT can point to a certain object in physical space, or just a location.
What are the Use Cases for Location-Specific NFTs
The simple model of adding geotagged data has actually produced several applications for the technology.
- One of the potential use cases is a variation of Pokemon Go, or 3D augmented reality that is also tied to a location and only displayable on that location. This idea may be expanded in play to earn games using the model of Pokemon Go or another type of digital geotagging hunt.
- Another early application is by the Latvian graffiti artist Kiwie, who decided to add the coordinates of graffiti art in the city.
- Geotagging can also be used alongside the data of pictures to display the original location where the image was taken.
- The geotagged NFT has also been taken up as an environmental idea. Reforestation tied up with NFT for each tree also uses map metadata on the actual forest in physical space.
- Proof-of-travel is another application of location data, where a user can mint an NFT with real coordinates visited based on device data.
- Treasure-hunts for images and rewards as a form of digital geocaching is also coming from NFT projects, usually tied up to coordinates for a themed road trip. This use case is similar to the idea of using an actual physical map of locations for the basis of a metaverse world.
Are Geolocation NFTs Available for Play to Earn
The location-based NFT model has been in early testing for NFT gaming. One such project is Zombie Inu, with its ZINU token gaining popularity. Its chief application is in 3D augmented reality with upcoming geolocation features.
One game combining all features is Kryptomon, an NFT-based location-specific play to earn game. Kryptomon combines the model of competitive characters in a metaverse setting, with specific location-tied characters and treasure hunts.
In 2022, it is still early to showcase all geotagged NFT projects. The play to earn space and the market for collections will reveal the level of demand. There is little information on the added value of geotagged NFTs and whether they would be a game-changer or novelty.