Motivation

Selling a Bitmap is easy enough, you simply list your .bitmap for sale on a marketplace. However, what if you wanted to build a community on a specific Bitmap and allow fractionalized land ownership? While Bitmap Theory alludes to this fractionalization by using the txids within the block, it doesn't provide a clear path for how to issue them.

Blocks, and therefore txids, are in the public domain, so inscribing <txid>.lot , or a truncated version like 9d49...f463.lot wouldn't work because any inscriber could go claim lots of lands they don't own. While each Bitmap owner could come up with their own set of rules regarding how to distribute land securely, it would be nice to have a standard that gives users a human-readable way of interpreting text-based inscriptions in a marketplace.

In addition to safely distributing lots/parcels of land, owners need a concrete way of determining the size of each lot. Let's explore that next.