This idea is analogous to the real life equivalent of a billboard, except that the billboard is accessible all around the world, can never be taken down, and doesn’t have any one “true” owner. People can pay to own parts of the billboard, which they are free to do with as they please. They can advertise, draw, and promote. They can do nothing. They can sit on it and speculate. They can sell it for whatever price they want. However, as with a real billboard, if you just leave it up by the side of the road and don't maintain it, eventually people will deface it with their own "art", the elements will wear it down, or it will get covered in bird poop. As with a real billboard, when you purchase the space, you can pay an upfront fee for it to be maintained for a specified amount of time, but you will still need to occasionally renew your contract to keep it maintained.
In our case, there will be a fixed size for this billboard, and "plots" are represented as single pixels.
We are essentially creating an amalgamation of Reddit Place, MillionDollarHomepage, and CryptoKitties. The “Canvas” is stored on a distributed backend using the Ethereum Virtual Machine. The code is written as a “Smart Contract”, and will live forever as long as the EVM is running. All code, both on the backend and frontend (how we display the data and functionality of the contract) will be open source and available for people to understand how it works. This isn’t an entirely new idea, but our version will be unique and much more marketable.
There will be a concept of pixel “ownership”, as well as a concept of “renting”. We want this project to essentially be a living piece of art, where interactivity is simple, cheap and ongoing. People can passively create artwork on other people’s property, or speculate on property values by purchasing, collect dividends through rent, or use their ownership to ensure that their “art/advertisement” is prioritized.
When a user purchases a pixel (or multiple pixels at once), they choose the color and set a link/comment. The pixels will keep that information until someone else rents it or buys it. Owners will get a certain amount of time before a pixel goes “stale” and becomes rentable; There will be a free default "cooldown time" before a pixel goes stale, although users can choose to pay more to extend it. Owners can "refresh" their pixels to extend the cooldown time at any point.
When a pixel is stale, another user can "rent" the space, and it will hold the new information until someone else rents it, or until the owner takes back control. Rental fee rates paid to the owner are controlled by the company and will initially be turned off.
Our company will make money primarily through transaction costs. We will also start off with ownership of some number of the initial pixels that will be largely given away for promotional reasons. The majority of pixels will be auctioned off in plots over time (coded into the contract).
I expect people to use this for 3 primary reasons: Fun - Creating doodles and artwork to play around with it, maybe communities pop up. Promotions/Ads - Displaying ads that link out to your business or portfolio. Learning - Understanding how Smart Contracts work.