Tradable 'Three-Words' location identifier using NFT blockchain technology
NEW YORK, NY / ACCESSWIRE / May 29, 2019 / On May 23rd, blockchain digital content platform BORA announced a partnership with Infoseed to provide three-word location identifier services using Non-Fungible Token (NFT) blockchain technology. Infoseed, a grid location service company, divides the Earth into 746 trillion, 1x1 meter blocks. Each block can be uniquely identified using three words, such as "Korea.Best.Restaurant". As such, any precise location in the world can be represented using three simple words. BORA will work with Infoseed to convert the location names into NFTs, giving each location a unique digital asset recorded on the BORA blockchain.
This innovative partnership allows users to prove ownership of specific location names as well as exchange them with others through a digital marketplace. Infoseed's grid location service can be used to easily order food to a specific location or request rescue in emergency situations. It can also help businesses without a specific address, such as food-trucks and mobile concessions, to share their location with other people.
"Infoseed is going to provide dApps with grid location services using the BORA platform. Through this cooperation using NFT technology, we are establishing an 'Address Marketplace' that allows users to trade addresses using BORA tokens. We are also preparing to support a digital asset treasure hunt for items converted to BORA NFT through the use of location information.", said Chang-sub Sim, Vice President of Infoseed.
Cindy Lee, CEO of BORA, commented that "The industry's interest in Blockchain NFT technology that gives rare value to digital assets is growing rapidly", and also mentioned "Starting with this collaborative project, we will apply NFT to a variety of digital content, including games, music, health care, education and real estate offered on the BORA platform."
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