Saturday, June 26, 2021
While researching for today’s blog post, my brain cells reminded me of the people who were/are ready to bring Moon and Stars for their loved ones. This post has been written specially for those who have, for once in their lifetime, fantasised of buying land on the Moon! Even if you haven’t, don’t worry, you can continue reading as the jargon used is not at all moonish.
Moon is like the air we breathe - everybody can use it, but no one can own it. In 1967 the U.S. and the Soviet Union negotiated the Outer Space Treaty, which states that no nation can own a piece of the moon or an asteroid.
“You have a right to go up and take the lunar soil, but you don’t have any right to draw a square on the surface of the moon and say, ‘That square is mine,'”
The corporations and individuals however are not nations, hence the Outer Space Treaty does not apply. Land ownership is an important step in the investment of space settlement. The treaty is somewhat similar to the Antarctica treaty, which prohibits mining and military activity on the continent. Treaties like Outer Space and Antarctica are vital to stop exploitation of resources. We all are witness as to how the resources, which comes under the national law have been exploited to make profits.
International Lunar Land Registry gives you the option to buy an acre (minimum) of land on the moon. ILLR was created in 1999 to provide a standardized and simplified system for registering claims to real property on Luna, Earth's Moon. You can also select the place where you want to buy the land. LLR gives you an option of 15 places where you can buy the land.
What do you get after buying the land?
A beautifully engraved deed, a satellite photograph of the property and an information sheet detailing the geography of the area you are planning to buy.
All documents are standard US letter size (8.5×11 inches, or 216×279 mm). All documents are provided in English only in compliance with international treaties.
Complimentary Luna Society International lifetime membership (individual or corporate) is included.
Ownership information and deeds are encrypted as unique Smart Contracts to current ERC-721 Non-Fungible Token (NFT) Standards.
(source - Lunar Registry official website)
Looks like a scam? Isn’t it?
There are a number of private organizations selling land on the moon, however ILLR claims to be the authorized entity to record ownership claims to property on the Moon, to finance commercial exploration, settlement and development of the Moon. ILLR does not purport to be the "owner" of the Moon, they merely offer a standardized process for registering ownership claims to a limited number of prime locations on the Moon. The cost of the land depends on the demand and can fluctuate with time.
Even if it looks like a scam, and feels illogical at the moment, investing $45-$50 today to satisfy your fantasy feels like a sensible decision. Moreover this can be the best investment of your life as the returns will be enjoyed by your great great great great grand kids.
(I AM NOT A FINANCIAL EXPERT AND I AM NOT GIVING ANY FINANCIAL ADVICE)
So are you planning to buy one? Where are you planning to land on Moon?
See you next Saturday, until then have a great weekend :)
Cheers!
Some things that you may find interesting-
Movie of the week: Goodwill Hunting (Watch it again even if you watched it the previous week)
Song I am listening to: Bad Habits by Ed Sheeran
Quote I am enjoying: “You can be the moon and still be jealous of the stars.“
Thread of the week: How do Casinos make money?
Here are the last three posts if you were too occupied to read them:
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Great topic