Airbrick brings a new era of Ownership, meet AirRock
AirRock, a new web3 protocol, is set to introduce the new mechanics of using real estate from time to time–leveraging the features of Airbnb and Smart Contracts– through the innovative system of non-fungible tokens (NFT).?
What are NFTs?
Before actually going down the technical parts of the company’s innovation, learning what NFTs actually are is necessary.?
Non-fungible tokens, in layman’s terms, are items that are not interchangeable, not exchangeable, not transportable, and not replaceable. Meaning that each NFT, more often than not, is distinct, unique, and easily verifiable.?
NFT Perks
With its non-fungible feature, anyone can acquire its provenance as the data are stored digitally. Anyone can verify who owns an NFT, who issued that NFT, its previous owners and so on.?
With its information and other data secured and digitally stored in a decentralized domain, one can’t reproduce and fake an NFT as each token ID is unique.
Since NFTs are 1:1, your NFT is only different from everyone else.
NFTs are not just a digital item that you own, one NFT, depending on its collection features and issuer, comes with different types of perk such as acquisition of in-real-life items, discount on the issuer’s brand or other items, special membership, among others.
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What items can be an NFT?
Anything can actually be an NFT; it could be an image, an audio, a video, a digital art, an in-game asset, a virtual land, and even actual real-life objects.?
For real life items, these objects may be represented by a digital version or something else that may prove your ownership of your NFT.
Airbrick 2.0 - Innovations
With the basics down, it's now time to introduce the innovations of AirRock that will further push the upcoming era of ownership.
As stated, AirRock is a protocol combining the technology of NFT-based ownership and a decentralized stablecoin leveraging an Algorithmic Central Bank, so owning AirRock Share (ROCKS) NFT holder comes with several other features.?
AirRock Share (ROCKS)
ROCKS NFT corresponds to a special membership on the platform’s offerings. It is a collection of 7777 AirRock Share NFTs to be launched at a floor price of $1,000 each.?
It comes with utilities such as Free stay in the United Kingdom through AirRock's NFT-based Timeshare Ownership. A holder can also receive returns of up to 60% APR from the protocol. Moreover, owners will not be eternally bound to their investment as there is no locking period and they can resell their NFT anytime, for now, on OpenSea, an NFT marketplace.
Further, like other decentralized platforms, acquiring a ROCKS NFT will also give its holder voting rights– it will be like a governance token of other platforms– on proposals to improve the protocol and other future use cases within the ecosystem.
Once all of the 7777 collection was sold out, the only way to acquire an NFT is to buy from resellers on the NFT marketplace.?
What is NFT-based timeshare ownership?
The mechanics of this system simply follow an innovative version of vacation club membership where holders are given a specific allowance each year, thus the timeshare name.?
AirRock’s Decentralised Stablecoin with an Algorithmic Central Bank
Aside from the other aforementioned perks, holders can also gain access to AirRock’s multi-token protocol consisting of three tokens; AirRock USD (aUSD), AirRock Share (ROCKS), and AirRock Bond (aBOND).
The Algorithmic Central Bank is the mechanism that dynamically adjusts aUSD's supply, pushing its price up or down relative to the price of $1. aUSD is the platform’s algorithmic stablecoin–a type of cryptocurrency that offers improved price stability without any collateral.?