POI functionality as a NFT?


#1

Do POI’s have the functionality of a tradable NFT?

If so it would be great to be able to buy, sell, and trade POI’s.


#2

POIs are not tradable nor are they NFTs however Signals are both :wink:

More information on Signals as Non-Fungible Tokens here


#3

While PoS usage was a requirement for the original crowd use, I believe that we are waiting for some future synergy of the Signal / Zone Anchor and POI ecosystem.

Right now while static proof of location is demonstrable, it has limited value without a much larger user base.

I would go so far as to say that, what dPOL brings to the table will have to be pretty amazing.

What is effectively missing right now is a value proposition for the Zone anchors to depend on the Signals. When that is more clearly codified we should see renewed interest.

While POI was released first, I get the feeling that the dPOL will bring a very interesting new wrinkle to FOAM protocol, and that by empowering each of the stakeholders, all will be interested in furthering the goal of FOAM.


#4

Why? Do you imagine something akin to internet domain names market?


#5

Awhile back I was looking at https://moss.land/. It is interesting to note that their main marketing strategy was the “land auction” (it intrigued me to come check them out). Looking through their project I decided not to participate but it occurred to me that owning landmarks for an exclusive purpose or utility is attractive.

Yes I do imagine POI’s being like internet domain names. Whereby the owner of the POI has management over the POI’s [future] utility. Rather than accessing a website the POI populates a source of content, like a newsfeed, special offers, public inquiries/posts and/or has its own registry of interactions from physical visitors.

It could work as a good one-time marketing campaign whereby auction price is in FOAM. The only caveat is owners of POI’s would have to understand their duty to and risk of potential challenges.

It would be great if the POI’s were NFT’s . I would bond my POI to a Zone anchor to make it more valuable. Like the management of a website; I would manage the POI and maintain the Zone for the owner of the POI. More stakeholders involved in furthering dPOL the better.

Just a bunch of ideas for now…based off thinking of selling a POI to a willing buyer.


#6

I envision the POIs eventually being owned by the proprietor of that location. And through your asset card combined with open boosting capabilities and dPOL, it becomes an advertising mechanism. Every time you interact with that POI you’re rewarded.


#7

I think what you are describing is analogous to the “white pages” vs the “yellow pages” for information, this too is tied to a physical location, and based on facts. The distinction is that yellow pages allow the proprietor to make “Claims” or statements that are intended to distinguish them from competitors, and assure and inform potential customers. I have a very strong feeling that the economics of FOAM should be allowed to emerge, rather than be centrally dictated.

If we believe that POI’s have value, in this FOAM ecosystem, we should look for ways to reward those who create them, the earlier the better, and going back to the telephone example, the White Pages were something that you would be in whether you paid for it or not, and if you did not want your name / location and number in the white pages you paid for the privilege of being anonymous!

I think a suggestion that is fair for all stakeholders, would be Zone Anchors’ “influence” is based on the POI’s staked value in their Zone. (More stake is more important than gross numbers of POIs.) and include a multiplier for age of the POI’s (POI’s creation block subtracted from the current block). What I’ve left out of course is the Signals!

This “Influence” remains to be examined closer, perhaps a loyalty reward system or coupon for customers of a business… Right now many businesses depend on Social Networks such as Facebook and Instagram to interact with customers.

A Zone anchor is dependent on the Signal in the area that the Zone anchor is operating in. This dependency is tied to a mining reward. The earlier the Signal was created the better.
And from everything I’ve seen this appears only to be out of the goodness of the Signal’s intent, to direct where FOAM Zone Anchor’s are provisioned.

The big question is what are the ramifications of a Signal Liquidating? Should there be an incentive that the Zone Anchor has to use a Signal other than Mining rewards? Is that incentive shared?

While we originally required Signals as an altruistic endeavor, that the whole ecosystem depends on their deployment requires that we handle the balance very carefully. There is a possibility for unforeseen effects otherwise.

I think we can agree that provisioning and deploying hardware is a non-trivial event. We must expect that the compensation for that effort must reflect and reward those who build the network through Zone Anchors. We know that Zone Anchors will be compensated based on the Age and existence of a Signal in their area.

If you believe advertising in this ecosystem is desirable, one thing we can do is tie commercial advertising of an POI to an initial stake to in the area. We know that already the Zone Anchor is rewarded and compensated for provisioning of hardware through the synergy with the early staked Signal. By requiring a business to stake FOAM for the long term, we demonstrate commitment to the ecosystem.

Could we have this interaction between POIs that want to advertise and a Signal in a Zone? In such a future, then it would be in the benefit of all that the Signal continued operating. Such a dependency could be incentive based or require interaction with a Smart Contract. I only describe this scenario as an example of expanding true synergy amongst the stakeholders of the FOAM ecosystem.

Through a Commercial Registration system (similar to domains, ENS etc) the commercial businesses can leverage the feature of distinguishing themselves in this geospatial environment. It is not impossible to imagine that such a registry would be usable for property or licensing taxes in a municipality. Use of smart contracts, would abstract the work required, be public, and audited. (interaction with existing DNS system is possible through a TXT field in the domain name system record, and would only have to be the ethereum address representing the staked FOAM for the business’s advertisement)

We also could incentivize commercial usage through a nominal stake that reflects a business desire to continue operating and ongoing annual renewal would be an indicator of a business viability, and usage. It is very important to tie the staked FOAM to the DNS entry if we are using a website commercially. Businesses understand that Domain Registration costs money and has a value, they must see that Proof of Location has a cost, and it must show value as well. The map.foam.space interface UI should thus include a check, when displaying advertising that the domain is registered currently, and the DNS record pointing to the staked FOAM does have that stake. (we can buffer this by possibly having the smart contract process withdrawal of the advertising stake with a lag), it is entirely possible that the Stake for an advertising campaign is refunded, minus a nominal fee when the campaign ends. The important concept is that FOAM is staked for a period of time reflective of the interest of a business to advertise. We understand these mechanics already when we look at Establishing a Signal in an area, which has a stake.

Fleshing this out, “POI Stake”(current ecosystem) + Business Stake (DNS TXT eth addr.) and/or Campaign Stake (referencing valid POI & an eth addr. with Campaign Stake) = FOAM Minimal Commercial Product tied to Proof of Location.

Let us walk through an example:
WallyMart a store at 123 Any Street, Any Town, USA wants to advertise a special on Propane Grills during Labor day. The Business manager at this company would have to have an existing POI to point to for the store (geographically localized of course with static POL), and an ethereum address representing the minimal stake ( say 10 x the POI stake, or in this example 500 for commercial usage), plus an “ad campaign stake” for the duration of the advertisement, say (500) x the number of blocks the campaign will run for in the zone. (one day is 8640 blocks) so for one day advertising, the business manager would stake 500 x 8640 = 4,320,000 FOAM for this campaign.

At today’s market price, that would be $128,865.60 worth of FOAM. At the end of the campaign, the FOAM for the campaign would be unlocked from the stake and the advertisement would no longer be displayed. The POI would still have it’s original stake, and the stake for the Commercial usage of the store would still have to be staked.

This allows some very interesting dynamics to emerge, does the Business manager need to OWN the FOAM, or can they be leased for the duration of the campaign? Interest on this amount @ 0.0082% (3% annual) would be $10.59 or 375 FOAM. This could be a value stream for those that want to provide the stake.

For businesses that want wider or larger areas covered beyond a Zone could use a multiplier in the staking process for a campaign.

These ideas are rough, and I hope that they provide some idea of where FOAM can go.


#8

map.foam.space is a centralized frontend on top of FOAM protocol. If the goal is to extract ad revenue from map.foam.space web properties, it can probably be done easier in a traditional centralized fashion, no?


#9

Great discussions and ideas here. I think POI’s as NFTs are an intriguing direction. When we designed the TCR, as one of the first in the wild we used a simpler smart contract logic and futher the benefits of NFTs were not as evident at the time we started work on the registry, which was much earlier than on the Signaling contracts. By this time we recognized the architectural value NFT’s provide. That said, while keeping the TCR to the minimal needs, we put effort into a smart contract upgrade path that is deployed on main net. This will allow a seamless transition to a new set of contracts that could supersede the existing registry. This new set of contracts could specify points as NFTs or include different challenge types like challenge with suggestion etc.

Signals can be eligible future rewards from the Total FOAM Area Contract (TFAR) that distributes mining rewards. Signals are like a prediction market or akin to participating in a survey. If you correctly attract a Zone you can be rewarded. You can also Signal to benefit your own Zone.

This would reduce the weighted bonus in the area. Rewards are calculated at a baseline on the age of the Zone, the total area and amount staked. A Signal leaving would essentially “signify” that there was sufficient Zone coverage and ideally that there is an active customer base for the Zone to have sufficient a revenue stream that outweigh the baseline mining rewards. Thus they would stay despite the Signal leaving. The Signal leaving may then reappear in a new location that requires Zone coverage.


Protocol update suggestion: additional incentives for challenge completion
Feature suggestion: challenge with proposed changes