Have you heard about the Metaverse? Yeah, maybe.
What if I say people are buying lands in Metaverse, would you believe it?
The metaverse is fundamentally a 3D virtual space with the concept that more and more people will spend more time in this virtual world. People are spending hours on the internet and it has become a part of our lives.
Metaverse will be majorly used for gamification, virtual meetings, shopping, etc. If you own land in the metaverse, you can open your own store or rent the place to others.
Let’s talk about it in detail.
How Does Real Estate Work In The Metaverse?
There is one metaverse, but many platforms within it. You can say like these platforms are countries and when someone buys a plot of land, nobody can use that space without your permission.
In the metaverse – lands, where a lot of people gather, will be worth more, just like in real life. Brands and companies will use those lands for advertising and selling their products. So if you have a land where lots of people gather for meetings and other activities, it will make you huge money.
Why Should You Buy Land in the Metaverse?
Just like reality, digital real estate is an investment. People are showing great interest in the metaverse, rising land prices from an average of $6000 per parcel to $12000 per parcel by the 2021 year-end.
Virtual land is like your social media profile like Facebook and Instagram. You can do limited things here like post pictures and messaging while on metaverse your optionality is unlimited.
You can create your e-commerce store, you can create your own house, or actually sell products and NFTs. You can also create a minigame on your virtual land, you can set up a billboard on your land, or rent the land out to other users or companies.
Does Location Matter In The Metaverse?
In a digital world, you can transport from one location to another location in one click. So some people say that location doesn’t matter while others say that what if lots of people are transporting to the same location then it will increase the value of that location.
How To Invest In Metaverse Real Estate
When you feel ready to buy a plot in metaverse real estate, these are a few practical steps you can follow:
First, you need to pick a metaverse to buy land in and know why. Popular metaverse platforms like Decentraland, The Sandbox, Axie Infinity, Crypto Voxels, Somnium Space, and EmberSword, among others, have shared the total number of parcels they plan to sell. Some are best for gamification and some are good for community building, etc so buy as per your requirements.
At first glance, the concept of buying virtual land might seem unrealistic. However, we should remember that many previously questioned the importance of the internet, social media, technology, etc. The metaverse, according to experts, will grow into a full operation economy in the coming years, people will spend more time in the metaverse for gaming, virtual meetings, shopping, and all giving us a synchronous digital experience. Some news says that even you can feel the other human touch in the metaverse so you can understand it.