Determine Lot Size

Let's consider a simple approach to "Lot Size". An easy and rational approach to determining the size of a lot is to use the size of the actual transaction (vBytes). A 1:1 mapping can be applied and thus a tx that is 500 vBytes in size would equal 500 square meters. Since we are dealing in virtual land, we believe 500 square virtual meters, or more simply 500 vm², makes the most sense. What's cool about this approach, is it allows us to actually put a number on the total land size of the Bitmap metaverse.

Note:

Just like in the real world, it's common sense that the most valuable Bitmap land will be land that is actually developed. A real-life example would be that land in the middle of a secluded swamp is obviously not as valuable as land that is developed on the coast of Southern California or some heavily populated city. If you consider each Bitmap like a zip code, it's easy to see that a very small lot of land in a developed space could be more valuable than an entire undeveloped space. From a value perspective, one .bitmap will not always be greater than one .lot, regardless of their respective sizes. There will be many instances where small Lots are deemed more valuable than large Bitmaps.