Own Something That Doesn't Really Exist But Makes You A Big Profit By Purchasing Land In The Metaverse
It is amazing how much money is spent buying virtual real estate in the various metaverses. An investment firm, Republic Realm, recently spent $913,000 on a park in Decentraland.
After six months, the same company bought 792 lands in The Sandbox, another metaverse, from a video game company Atari, for a staggering $4.23 million.
These are two examples to make you understand that buying virtual land can become a good investment.
Even if you don’t buy something you can touch or feel. It’s digital, and at best you can see and hear through virtual reality headsets.
Everything is certified by a very secure system that offers maximum security equal to that of a notary.
How do you buy land in the Metaverse? Who should you contact? What does it cost? Is it easy?
THE VIRTUAL LANDS
Apparently the idea of the Metaverse dates back decades. Initially, the word was coined for fantasy.
The term Metaverse was written for the first time in a science fiction novel in 1992, entitled Snow Crash.
In this novel, cybernetics, artificial intelligence, and virtual immersion are all intertwined to create a reality where people can meet.
From the imagination to something concrete, there are currently about 30 metaverses, some more imported than others with large sums of money invested in there.
– Second Life, a virtual hangout that started over the years, is one of the oldest. Fortnite, a video game with a building component, is a newer, more sophisticated example, as are Roblox and Minecraft.
– In its most basic form, a metaverse is a persistent, shared digital space for meetings, games, and socializing. Some observers envision a future where many metaverses interconnect, while others envision a variety of independent digital realms with their gates drawn.
What is land?
Land is real estate, only it’s virtual. You can think of it as a parcel of land within a metaverse, which you can use to construct buildings, gardens, and other functions.
It is digital and three-dimensional.
For example, in Second Life the lands are organized into separate islands where residents can socialize and shop.
Similarly, Fortnite offers huge terrains to build on, and Minecraft also has worlds that are shared by random groups of players.
Buying land can cost $1500 or more, depending on the metaverse and landscape you choose.
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HOW TO BUY LAND IN THE METAVERSE
To purchase property in the Metaverse you must first create an account for the metaverse of your choice, then select your preferred property.
There are platforms that act as intermediaries for all the Metaverses in general. OpenSea, is one of the largest decentralized marketplaces for digital assets, NFTs, and land (NFT stands for “non-fungible token”, i.e. non-tradable virtual objects.)
Plus there’s SuperWorld, which lets you buy land in augmented reality. You can find available lots in your area and see how they will look in augmented reality.
Once you have selected your favorite, you will need to pay using a cryptocurrency or other payment method.
So, you need to open an account in a Wallet, a digital wallet that allows you to accumulate, send and receive cryptocurrencies and also make payments.
Once you have paid for your property, you log into your Metaverse account and your land will be ready to use however you wish.
As you may have noticed, buying land in the Metaverse is certainly a complex process but not too difficult to complete. And the results can sure be rewarding!
Always remember to inform yourself well before investing in something and, above all, have fun! Because the digital parallel world was born as a place of entertainment. The first to be created were video games.
AN INCREDIBLE EXPLOSION (SIMILAR TO BITCOIN)
It all started when CEO Mark Zuckerberg reignited and spread interest in the concept when he rebranded Facebook as Meta.
Then, here’s what happened, the escalation and real data that gives an idea of what’s happening.
In recent years, the growth of blockchain ledgers has contributed to the emergence of new metaverses making it easy for people to purchase parts of them.
The digital title deeds, or non-fungible tokens (NFTs), representing ownership are registered on the blockchain, allowing them to be resold in the future.
The two main metaverses are Decentraland, which started in 2017, and Sandbox, which appeared on the internet two years later. New virtual lands are created almost every month.
In November 2022, Metaverse Group, a virtual real estate company located in the real city of Toronto, invested $2.5 million on 116 blocks of virtual land in the Decentraland Fashion District.
Andrew Kiguel, CEO of Tokens.com, which owns 50% of Metaverse Group, thinks he’s struck a deal. If more people get excited about the Metaverse, the value of parcels in Decentraland will increase because the Metaverse will do what social does on average.
Decentraland currently has 800,000 users, up from just 40,000 at the start of 2021.
It’s a safe bet, according to Kiguel, that the growth rate will continue to rise, at least for a while.
This means that new and veteran Decentralanders will walk past your company’s prime virtual real estate every day when they spend time in the digital realm.
In conclusion, buying land in the Metaverse is an interesting way to invest. It offers great opportunities and can lead to a substantial return on investment if the property is purchased at the right price.
Platforms such as OpenSea and Superworld facilitate the purchase through intermediaries which simplify the process.
Always remember to make sure you do your research before making any purchases. While the Metaverse is growing rapidly and appears to promise a good return for investors, there’s no guarantee your $1500 will be well spent.
It must also be said the probability of a crash like cryptocurrencies happening is much less. I believe that Crypto will fly again.
In fact, many financial instruments have had market crashes, even those that seem more solid. Think back to the last few years of the British Pound or Oil.
On the other hand, houses have some fluctuations but milder and still represent an asset. So it will be in the Metaverse
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