The Space Whitepaper Announces New Web3 r/place Graffiti Wall Combining Blockchain, NFTs and Aggressive Markets, and Issues $SPACE Tokens

We released The Space project and its token $SPACE white paper.

TheSpace.Game is an NFT pixel grid battle inspired by r/place, and it is also a digital Lennon wall that everyone holds and never goes offline. Initiated by $SPACE, the " Partial Common Ownership " is re-examined with the economic mechanism of Harberger tax and universal basic income . TheSpace.Game is a rare large-scale application of Radical Markets in the Web3 ecosystem. ) of the co-creation of NFT Game-Fi.

• In The Space, each pixel is a tradable NFT (Non-Fungible Token), and pixel owners can edit the color of their own pixels through market transactions to create.
• Roadmap includes the launch of $SPACE tokens and SpaceDAO.
• The Space is built on the Polygon blockchain.

While blockchain and smart contracts allow people to recreate and own digital assets in exciting ways, only a few people have created wealth through the art of trading cryptocurrencies and NFTs. If digital assets are privatized, we are doomed to repeat real-world inequalities. It would be a shame because we have a great opportunity to create a more inclusive, equitable and truly public digital space.

TheSpace.Game challenges existing notions of ownership and explores a new type of ownership that transcends socialist or capitalist markets through simple pixel-shading on a digital canvas. In The Space, all pixels are tokenized as ERC721 tokens for players to buy, sell, pay taxes and receive redistributed base income. Pixel owners on The Space can set any price they want for each pixel under the Harberger tax system in the aggressive market, but at the same time, they must pay a tax to the smart contract based on a percentage of their land price , a portion of the tax received will be returned to all land owners in the form of Universal Basic Income (UBI) to achieve the most efficient allocation of limited public resources, while allowing this "pixel market" to achieve maximum liquidity.

According to The Space project white paper, its key features include:

• Voice Your Opinion While Earning $SPACE The Space will reward pixel creators and participants with $SPACE tokens. Pixel owners can edit their pixel colors to create any artwork on The Space's digital graffiti through blockchain transactions.
• Introducing Partial Co-Ownership (PCO) from Radical Market to ensure fair and co-owned public space pixels are traded under the Harberger tax: the owner of each parcel must list a price for their parcel and make it readily available Buy. Additionally, the Universal Basic Income (UBI) system ensures that every participant receives a redistributed token. This pixel graffiti wall is a miniature template of the attention economy, and its dynamic development will show how market designs such as PCO can be applied to build the attention economy foundation of new social media in Web3.
• Decentralization at the core One of The Space's core principles is decentralization and self-sustainability. It not only explores public governance with radical market rules, but also uses Decentralized Autonomous Organization (DAO) to coordinate the contradiction between public and private, and turn competition into collaboration. The Space will gradually take over the ownership, management and operation by SpaceDAO in the future.
• On-Chain Governance The Space uses non-fungible tokens (NFTs) on the Polygon blockchain to protect the rights of each pixel. Through smart contracts, the mechanism can be openly, transparently, permanently stored in the blockchain, and can be viewed and confirmed by everyone. This means that no censorship authority can close The Space , and all artworks on the chain will be recorded forever, blooming a museum belonging to this generation's web3 culture, which is the biggest difference from similar projects on web2.

TheSpace.Game can be a game, a Lennon wall for public opinion, or a cornerstone of manifesting democracy, just like the ideal world envisioned by Confucius in the Book of Rites: "On the road of the great road, the world is for the public."

📝 Click here to read the full text of The Space project white paper and $SPACE white paper

🎊 The Space will further announce the airdrop information on 5/27. Players who have participated in the test of The Space, Travelloggers owners, and the Matters.News community will receive the $SPACE airdrop.