In this overview we will go over all of the features users will generally use and explain, in detail, how they function. For a more detailed information about the use cases and user features of our product, we recommend users read the white paper.
Draw, Upload & Share
Users and Property owners can draw pictures or upload images to Properties and share them with the world through the digital Canvas. All visual expressions are welcome, including pixel art, photography or an organization’s visual display.
When a user contributes to the canvas, they can optionally spend PXL to access extra features, which burns the PXL, removing it from circulation. If a user chooses to play for free, they do not spend any PXL, have their rewards capped at one (1) PXL. If a user chooses to burn more, their possible reward cap is raised and display locked, guaranteed to remain unaltered for roughly half the amounts of minutes there are coins burned.
Connect, Network & Advertise
Properties showcase the personal messages of their owner through hover text that appears when a user mouses over a given Properties’ display. Should a user click on the property, it will redirect the user to the personal URL of the property owner. This allows for properties to be perfect for advertising anything from a personal blog to a YouTube channel, from personal messages to corporate advertising. Property owners are rewarded in PXL when sharing their canvas with the public users. Properties continue to advertise on their owners behalf while being shared with the public.
Buy, Sell & Trade
Properties are cryptocollectable assets, which can be conveniently sold or traded on the built-in free market. Users can buy Properties, trade them with other users or sell them for PXL to each other in the free market.
When the canvas is initially launched, Properties will not have any owners. By default, all Properties will be for sale, purchasable in either Ethereum (ETH) or PXL. The going ETH and PXL rate will increase over time based on option usage, however users will always be able to trade on the built-in market between each other at their own defined rate of PXL.
Users can also bid on Properties, which notifies the owner, stating the offered bid amount.
Play & Rewards
The digital canvas is similar to a visual arcade, where it can cost tokens to play and you may receive tokens back for your efforts in advancing the display. Users earn tokens through playing with the canvas in a fashion similar to a king of the hill style game, where the tokens a player earns is based on the duration they held the king status. The longer your uploaded image stays on the canvas without being altered, the larger your payout is when a user eventually dethrones you by updating the same property. Users new to PixelProperty who do not have Tokens at first can still set the images of Properties for free, but with reduced and delayed payouts.
When a user is dethroned from their Properties hill, a user may be rewarded. For each minute a user had their content displayed on a Property, they receive one (1) PXL. The amount of minutes a user can be rewarded for is capped based on the amount of PXL they burned when setting the display. Users can be rewarded for up to (N+1)^2 minutes, where N is the amount of coins burned. Property owners receive an equal amount of PXL whenever a payout is triggered on their Property.
Properties can be in one of two modes, free-use mode or private mode. By default, all Properties are in free-use mode.
In free-use mode, anyone can use the Property, upload any display, and possible be rewarded for their contributions. In private mode, only the Property owner can upload displays, giving them full control over a Properties visuals.
Owners can change the mode of any of their Properties. When leaving it in free-use mode, Property owners are rewarded in PXL for sharing, based on the amount of PXL generated by their Property to users. Owners burn PXL to keep a Property in private mode, forfeiting their generation in turn for temporary control and focused advertising.
Next we will dive into an overview of all the features available to users within our DApp and Smart Contract! If you have any questions about our white paper or PixelProperty in general, feel free to leave a comment below!