Ekta Whitepaper v3

Ekta Island Overview

Ekta Island Overview
Ekta Island is a company-owned land asset located 40 nautical miles off the coast of Bali that bridges the physical world to the blockchain. The island is 20 hectares in size with over 2km of pristine white sand beach and 46 hectares of ocean under its control. The island is owned “freehold” meaning the deed to the asset is wholly owned, free and clear with zero debt or liens. Ekta’s parent company also secured the rights to an extremely valuable 285 berth yacht marina license for the site, which is 1 of 20 licenses that the Indonesian government has issued nationwide. As a tourism focused nation that is making a push to become the future yachting capital of the world, Indonesia has entrusted Ekta Island to be a catalyst for industry growth.
Ekta island will resemble a micronation. Ekta Island’s foundation is based on the three pillars of the EktaChain: Ekta NFT Marketplace, HyBex (Ekta’s Hybrid Exchange), and MetaTrees. Members, token holders, and guests on the island will be able to use their wallets to purchase and trade for goods and services on the island. Ekta island will also have an augmented reality game on land and a virtual reality feature to allow people not on the island to experience Ekta Island in real time from anywhere in the world. Ekta island will be a test site for using the Ekta Portal nodes to allow decentralization, edge computing and IoT on the island. A mesh network will be deployed through Ekta Portal nodes.
Ekta Island is currently being developed into a full scale, sustainable blockchain-centric community with a comprehensive site plan designed for tourists and digital nomads, centered around 81 luxury villas, a 385 unit capsule pod hotel built using 3D printing with sustainable and recycled materials, and a a 285 berth state-of-the-art yacht marina, with all the amenities that tourists and digital nomads have come to expect in supersized real estate developments across the retail, dining, health & wellness, events & weddings, conferences, recreation, entertainment, nightlife, and education segments. The island will host its Ekta community members for special events, and open its doors to other protocols and web3 enthusiasts that would like to be part of Ekta Island’s infrastructure through a variety of means. Lastly, Ekta Island will play host to the MetaTrees forest and conservation project, which bridges the MetaTrees play-to-earn game to the real world and rewards users for offsetting carbon emissions by planting trees.
Connection to Blockchain (EktaChain)
The entire island is a master planned development that will effectively be fractionalized and sold to purchasers as fractionalized NFTs (F-NFTs) which represent ownership in various aspects of Ekta Island and can be bought, sold, traded, and staked. These F-NFTs can not only appreciate in value, but are interest-bearing assets that reward purchasers with profit sharing rewards, staying rights, automatic whitelist to future Ekta developments and master planned islands, and more. Transferring ownership is easily done from selling the Ekta Island NFT in the Ekta NFT Marketplace. All the metadata is stored in the NFT and transfer of ownership is done on-chain in a fast, inexpensive, and secure manner. The ownership of the NFT is based on which wallet address it is assigned to.
Focus on Environment and Sustainability
The objective of Ekta Island is to create a vibrant blockchain-centric community that operates with net zero emissions or even creates a carbon surplus, while using sustainable, recyclable materials, such as ocean plastic waste, and 3D printing when available. The capsule hotel, which will host up to 770 guests, will be built almost entirely using 3D printing and sustainable materials. Transportation around the island will be electric powered in various forms, and alternative renewable energy, such as solar panels and vegetable waste energy, will be utilized in every available scenario through all aspects of the island. The MetaTrees forest and conservation project, which is a tree planting and carbon offsetting initiative, will amass a large portion of Ekta Island and grow over time. Transportation to Ekta Island will consist mostly of short ferry rides from Bali that carry many guests per trip, eliminating the need for most people to travel by air. Much of the island’s food supply will be sourced from Ekta Island’s local fishing village, fruit and vegetable garden, and local farm to table producers from nearby Bali and Lombok islands. Drinking water will be produced using reverse osmosis soft water systems and reusable Ekta canteen water bottles will be provided, eliminating the need for plastic water bottles–a problem plaguing southeast Asia.
Focus on Community
Ekta Island is already partially inhabited on one side of the island by members of a small local village community. A crucial objective is to integrate the existing community into the Ekta community by offering education, employment, and community engagement opportunities without encroaching on the existing communities land, cultural norms, and religious customs. In addition to offering education programs and high paying employment opportunities, Ekta Island will also create a traditional hawker style market that bridges Ekta’s land and the existing communities land, and allow the locals to sell their goods and services in the market while charging zero rent or commission. Ekta views over-development of developing nations and gentrification as a complex issue and is committed to doing its part to empower the existing local community to improve their lives through new opportunities that were previously impossible for them to attain. Ekta and Ekta Island have the full support and backing of the community and local governments, and have been granted customs clearance personnel from the government to allow international arrivals via maritime transport directly to Ekta Island.
Ekta Island Site Plan
Private Villas
There will be 81 sustainably built luxury villas covering 26,428 sq. Meters (285,000 sq. Feet or 2.6 hectares) ranging from 1 bedroom villas to a one-of-a-kind 8 bedroom villa and event space. Each villa comes fully furnished and includes a private pool and is delivered as a turn-key fractional investment property, including complete management from marketing and booking to maintenance and compliance. Purchasing any size fraction of any villa is truly a turn-key, hands-off purchasing experience with rewards paid in the same manner as Ekta Assets and Ekta Real Estate fractional NFTs (monthly payouts and verifiable on-chain). The only difference between Ekta Assets and Ekta Island is that Ekta Island is wholly owned by Ekta and offers additional ecosystem benefits to both guests and purchasers, while Ekta Assets are owned or operated by third party partners that have been vetted and approved by Ekta’s partnership and compliance teams. Owning a piece of an Ekta Island villa entitles each villa’s unique NFT holders to various benefits depending on purchase amount, including staying rights (free stays), profit sharing and monthly rewards, generous discounts at all of Ekta Island’s retailers, and ongoing benefits throughout the Ekta ecosystem such as guaranteed whitelist to future Ekta real world developments. Fractional shares start at as little as $200 with no limit to how many shares a purchaser can buy (subject to total supply availability).
Capsule Pod Hotel
There will be 385 capsule pods that can sleep a maximum of 2 guests each. The pods, which are 3D printed from recycled materials, are built to be minimalistic with clean and simple furnishings, intelligently designed to maximize space. Every pod will be built into the face of a mountain and each will have an unobstructed ocean view by design. Each pod will have 13 sq. Meters of floor space (140 sq. Feet) with high enough ceilings for tall adults to comfortably stand (minimum 2.5 meters) and share well equipped common bathrooms with other nearby pods. On average, 8 pods will share 80 sq. Meters (861 sq. Feet) of bathroom space with several toilets, showers, and sinks available. The pods are designed with the digital nomad in mind for both short vacations and longer stays, as the nightly price is very affordable for budget travelers. Guests will have access to all the amenities on Ekta Island, as well as a common area, cafe, and co-working space exclusive to guests of the pods. Purchasers of the Ekta Island Pod NFTs will have the same benefit structure as the private villas, but at a fraction of the cost. Fractional shares start at as little as $200 with no limit to how many shares a purchaser can buy (subject to total supply availability).
Yacht Club & Marina
The yacht club and marina is viewed internally at Ekta HQ as the crown jewel of Ekta Island. The central government of Indonesia has always been extremely hesitant at granting yacht marina licenses but has since pivoted—it desires to create a vibrant yachting industry due to its exploding tourism sector and 17,000 beautiful islands—and become the global leader in the industry over the coming decades. Indonesia carefully selects which entities it grants its licenses, allocating very few, thus making each license extremely valuable (there have only been 20 licenses granted across Indonesia, the 4th largest county in the world). A license to own and operate a 285 berth superyacht marina off the coast of Bali, complete with customs clearance for international maritime arrivals, has been unprecedented until Ekta Island secured approval. The marina will be flanked by a state-of-the-art yacht club, designed and operated by one of the premier European brands, and include everything both guests and operators/crew have come to expect. Excluding the yacht club, shipyard, and fueling area, the marina covers 46 hectares of naturally preserved water space.
MetaTrees Forest Treehouses (“MetaTreeHouses”)
The MetaTrees forest and conservation project, which is the core real world initiative of the MetaTrees plant-to-earn game, will also house several treehouses for guests looking for a more rustic experience in the purest, raw natural beauty of Indonesia. The MetaTreeHouses will be the most minimalistic and least expensive accommodation available to purchasers and guests, but will still carry the same purchaser and community benefits as the pods and villas at a much smaller scale. MetaTreeHouses NFTs can also be earned through MetaTrees gameplay via earning and burning $MTREE tokens. For more information and updates, follow @EktaChain and @Metatrees_Ekta on Twitter.
Beach Club & Nightlife
As a mostly cashless island, Ekta Island plans to license the rights to its beach club and nightlife venue to a highly established operator of a successful hospitality brand that agrees to accept $EKTA (via redeemable NFT vouchers) for payments. By licensing the rights to the venue, $EKTA holders will benefit through cross-branding and payment processing. Larger $EKTA and Ekta Island NFT holders will have additional benefits. There has been interest from some of the top brands in the world, from Bali to Las Vegas and Mykonos, to operate the largest and most marketable hospitality venue on the island, and negotiations are ongoing. For the latest updates on which brand wins the bid, follow @EktaChain on Twitter.
Dining & Bars
Much like the beach club, Ekta will license the rights to the majority of the smaller hospitality venues across the island to proven brands and operators. The cashless payment system will be the same as the beach club and utilize $EKTA prepaid NFT vouchers, which will benefit all $EKTA holders. Ekta is working with industry experts to create an ideal product offering mix to satisfy as many Ektarians as possible. For the latest updates on which brands win the bids, follow @EktaChain on Twitter.
Health & Wellness
Ekta Island will be fitted with a community health and wellness center, including a large gym, full service spa, and plenty of parks and recreation space. For purchasers or guests staying in the villas or pods, access will be unrestricted. For guests to the island on a day trip, payment will be required in the same manner as the other venues on the island, keeping all Ektarians top of mind by requiring Ekta ecosystem participation to have access. For more information on the scale of the development and available amenities, view the attached site map.
Ekta Island will be fitted with a carefully curated selection of retail stores to ensure that guests and residents don’t need to leave the island for necessities. The shops will include clothing, food and beverage, medical, and more For purchasers or guests staying in the villas or pods, access will be unrestricted. For guests to the island on a day trip, payment will be required in the same manner as the other venues on the island, keeping all Ektarians top of mind by requiring Ekta ecosystem participation to have access. For more information on the scale of the development and available amenities, view the attached site map.
Educational Programs
Ekta Island will create its own non-profit school for both residents of the existing local village and foreigners, focusing on two core disciplines: renewable energy and implementation of other green technologies, and comprehensive blockchain programs to prepare the younger generations for the quickly evolving economic landscape in web3. Entry level programs will have open enrollment and be available for all residents and guests of Ekta Island. There is a glaring need for more education in the space, and a huge demand for skilled workers in web3 with very few qualified candidates globally to fill the growing number of ultra high paying jobs. Ekta sees this as an opportunity to help narrow the wealth gap, especially in a promising, yet still developing, region like southeast Asia. While this segment of Ekta Island is part of phase two of the development, updates will be ongoing and prospective participants should follow Ekta Island’s official channels for announcements on the development of the project, curriculum, and instructors.
Event Spaces
Ekta Island aims to become a highly sought after event center for both blockchain centric conferences (community and brand building, education, and networking), specially curated events (concerts, art, music, and food festivals, etc), weddings, and other conferences and business functions. Ekta Island aims to do this by offering the best facilities, 3rd party event planning, management, and staffing services, and accessibility, with the goal to not only offer clients spectacular events, but increase the value of $EKTA and Ekta Island NFTs to our token holders and community. Ekta Island is open for business to private event promoters who wish to hold events ranging from small and intimate, up to 20,000 guests. All events will undergo stringent vetting and require all necessary licensing and permits depending on the event type and size. Ekta Island will be able to accommodate beachfront, amphitheater, conference room/ballroom, outdoor lawn, and tented events. The vast majority of these events will require further participation in the Ekta ecosystem from event goers, not limited to just payment processing. People or organizations interested in hosting events at Ekta Island should follow Ekta Island’s official channels for continued updates.
Staff Housing
Ekta will provide nearby housing to all Ekta Island staff and workers.