metaverse land

The cryptocurrency community is currently buzzing about Metaverse. A Metaverse between physical and virtual reality, with real-world geolocations on a partitioned map corresponding to user-generated digital environments. These surroundings will be able to be owned, purchased, and sold shortly, as well as deeply customized.

Purchasing virtual land in the Metaverse is a big step for many people, but a worthwhile one. This article will show you how to buy land in the Metaverse. So, let’s get started!!

What exactly is Virtual Land, and what can you do with it?

Investors are using real money to buy land in a new metropolis that only exists in virtual reality. Decentraland buyers are free to build anything they wish on their plots. Many people seek to profit from the virtual world’s coinage by trading products and services. A fresh spin on the American dream is gaining hold in virtual worlds, where investors acquire property tracts and strong communities promote attractiveness.

Why do people purchase Virtual Land?

The following are some of the reasons for the necessity to purchase virtual land:

  • New asset class

The asset class of digital real estate has established itself as a credible one. Its value is expanding at an exponential rate, making it a promising investment. Similar to real-world art and real-world real estate, it appears to have the potential to become a viable financial asset.

  • FOMO (Fear Of Missing Out)

A key driver for people to buy reals or virtuals is a sick sense that they might miss out on something outstanding. Many consumers missed out on purchasing Bitcoin at a low price, forcing them to explore alternate assets such as virtual land.

  • Enormous Returns

Virtual land has to offer returns due to its alignment with the constantly increasing crypto-investment world. Many people have made thousands of dollars in a short amount of time because of the convenience of flipping land (like they do with real estate) and a constant bull market.

  • Additional earning opportunities

In the long run, virtual land opens up new possibilities for what can get done with the property, such as establishing art galleries, running marketing campaigns, or simply renting it out to others to build on and earn money. On their virtual territory, some people build virtual casinos. Big retailers are also investigating the prospect of virtual reality storefronts.

  • Simpler than buying real estate

In addition, digital real estate avoids the drawbacks of traditional real estate sales, such as cumbersome paperwork, land maintenance, and taxes must get paid. Land purchases are also more secure and traceable because of the usage of blockchain technology.

  • Low entry barrier

Land prices are rising, but virtual ones offer similar benefits for less than 1% of the rate. As a result, real estate purchases may be beyond of reach for many individuals, but virtual land purchases have a small financial impact.

From where should we buy Virtual Land?

Many Virtual Worlds exist all around us that we are unaware of; they live and evolve, even when walking down the street or looking out the window. Many firms have stepped forward to construct virtual worlds that may get viewed using compatible devices such as computers, mobile phones, or even appropriate headsets with the debut of Virtual Reality and Augmented Reality.

The following are the primary stakeholders in the virtual land market and the money people have had to invest so far to own a piece of it.

  • Decentraland

As of November 18, 2021, a virtual reality marketplace based on the Ethereum blockchain had performed 129,283 land sales for a total of $$92,207,386.52, with an average price of USD 713. If you want to buy a plot on the Decentaland marketplace, go there, log in with netmask, and look at the available stakes. Land in Decentraland is not cheap, and with the rise in MANA’s price, landowners in Decentraland are reaping the benefits.

  • Axie Infinity

Axie, a virtual pet community dedicated to gathering, mentoring, rearing, and fighting fantasy organisms, sold 822,567 items for a total of $162,692,497.1 at an average price of $197.79. Currently, the cheapest land in Axie Infinity is 13000 USD.

  • Sandbox

Users buy land and host their unique magic in this community-driven UGC-voxel system. The most affordable land is 2980 SAND. Sandbox has had a total of 123417 sales, bringing in 112256038 USD at an average price of USD 909.

  • Netvrk: Upcoming Metaverse

Netvrk is constructing a metaverse, or virtual reality cosmos, in which users can interact with one another, earn money, and build homes, among other things. Mountains, rivers, and houses are all distinctive in Netvrk. Using simple scalping techniques, users may regenerate the land. They can use drag and build choices to construct homes. The metaverse is not yet operational. However, once you’ve completed the process, you should be able to purchase land on Netvrk.

Buying Virtual Land in Metaverse: Note of Warning

Profits soon outweigh clarity and the underlying mechanism of purchasing virtual estate (or even bitcoins or NFT). Following the coronavirus outbreak, many newcomers to this environment are looking for a new source of income. While some seek to save significant sums of money obtained through cryptocurrencies like Bitcoin, these elements will undoubtedly help the current bull market in virtual land.

The Bottom Line

Although it may appear to some that it is a pointless endeavor, people spend millions of hours each day in virtual worlds. Something will remain valued as long as people feel it is valuable. Sure, some short-term investors will be attempting to profit from virtual plots with their value increase. Others, on the other hand, will desire access to these plots just because they enjoy them.

For more such updates, stay in touch with us!!

By Vil Joe

A writer and editor based out of San Francisco, Vil has worked for The Wirecutter, PCWorld, MaximumPC and TechHive. Her work has also appeared on InfoWorld, MacWorld, Details, Apartment Therapy and Broke-Ass Stuart. In her spare time, she takes too many pictures of her cats, watches too much CSI and obsesses over her bullet journal.

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