Strategies are the lifeblood of every organization. They are as essential to globally extended businesses as they are to small and medium-sized ventures. They facilitate efficient management and goals to achieve growth and development.
What is resource allocation?
Resources are the set of elements available for an operation. Allocation is the distribution of elements for certain activities. In the context of a crypto project, resource allocation is the distribution of finite resources with an end to achieve the highest efficiency level.
The Next Earth economy is built on the following tenets of resource allocation:
- True virtual land ownership, facilitated through an NFT-based universe
- Disintermediated financial system, facilitated through decentralized finance technology
- Global community-based governance facilitated through a Decentralized Autonomous Organization
“Strategy is simply resource allocation. When you strip away all the noise, that’s what it comes down to. Strategy means making clear-cut choices about how to compete. You cannot be everything to everybody, no matter what the size of your business or how deep its pockets” – Jack Welch
We can see how the principles of resource allocation are put to good use by Next Earth in managing virtual land assets to support the community of virtual landowners. Next Earth has defined four phases as future necessities for the community’s benefit and role in implementing resource allocation. These four phases are described in detail here.
Why does Next Earth resource allocation matter?
Resource allocation, more than money-making decisions, is vital for the survival of any organization as it ensures freedom, fairness, and a better user experience. Next Earth’s decentralized resource allocation ensures fairness, transparency, and reliability, features often lacking in traditional physical transactions.
Above all, we can look at resource allocation as democratizing land ownership – Earth’s resources should be open to anyone willing to develop their slice of the pie.
At its peak, Next Earth will outgrow crypto and extend into the mainstream economy, attracting new users and businesses into the blockchain space. In essence, Next Earth will become a gateway into crypto for many.
Core principles of Next Earth’s resource allocation
- Increasing land value – With time, as the marketplace expands, the value of the virtual land is expected to increase.
- Environmental charity – With every new virtual land deal completed, Next Earth donates 10% to environmental charity organizations.
An additional 1.5% is donated after every land resale. Another 1.5% is donated after every NFT (non-fungible token) product trade. The 10m×10m virtual land titles on the earth’s surface fosters accelerated community growth and attract companies to enter the Next Earth platform. Algorithmic solutions, an allocational system after every transaction, and an autonomous platform incentivize the community and businesses to participate in this ecosystem.
How NFT collectibles at Next Earth aid landowners
NFTs represent unique data that are stored in the virtual Metaverse. This data can be anything from video clips, music files, or photos. When virtual landowners buy NFT collectibles on Next Earth, they are buying a digital record of ownership. The landowners can transfer the collectibles to their digital wallets. This method is akin to trading cryptocurrencies like Ethereum, Bitcoin, and Litecoin.
DAO is the blockchain decision-making mechanism that represents the transparent encoded rules controlled by the members of an organization. Next Earth enables virtual landowners to take part in the DAO governance process. It helps them to navigate the rules and contribute to the development of the platform. For example, community members can vote and choose the environmental charity recipient.
Strategic resource allocation is vital for any organization, and Next Earth strongly believes in these tenets. The value of virtual land is increasing with growing speculation and interest in the industry. This progress can only be maintained by intelligent resource allocation and community participation.