Virtual reality is a prime space to experiment with property rights because space is infinite. What is finite, however, is distance to experience. If land can be infinite, then locating close to meaningful virtual experiences is what becomes valuable. This provides ample opportunity to experiment with new property rights, all perhaps, even in the same virtual space.

A few weeks ago, I had a chat with the Cryptovoxels community on ideas on how to increase or decrease land in this decentralized virtual space. I want to share two such ideas: a COST (Harberger Tax) zone, and a Bonding Curve zone. Both rely on land being minted and destroyed as desired. Both generate value back into the community.

On 21 March 2019, I released the first NFT collectible that was always-on-sale using “Harberger Tax”. In order to keep the collectible, you pay a tax based on a price that you have to specify. This price must always be set. It is called: “This Artwork Is Always On Sale”. As artist, I’ve received ~18.4 ETH since then as patronage. It turned over 3 times, before being held by the same patron since then. It is valued at 240 ETH (currently). In it, I asked a few question as it relates to this being conceptual art experiment. I try to answer them and share the release of v2 artwork.

In the creation of patronage as an asset class, one creates virtual collectibles whose beneficiary earns revenue at a specific rate from an always specified self-assessed price by the owner. An outstanding question is what rates to set.