The Metaverse’s Virtual Real Estate Market Where You Can Buy Land Cheaper Than Real Land Is Exploding
Real estate is experiencing great success in the world of the Metaverse, as is the emergence of luxury goods. Most importantly, more and more people are investing in virtual luxury homes on these emerging technology platforms, with prices continuing to soar.
From fashion companies to virtual land sellers, the Metaverse appears to represent the next frontier of (virtual) real estate trading.
This is a new opportunity for landlords who want to expand their real estate portfolio beyond the confines of classic economies (equities, real land, or recently cryptocurrencies).
Tech platforms are leveraging blockchain technologies and asset tokenization, offering the ability to sell or rent digital homes on these platforms. Users will also be able to invest in virtual assets such as land, vehicles and buildings by simply purchasing the tokens associated with these assets.
These digital platforms are revolutionizing the real estate industry, offering a new class of investments for those seeking diversification and income opportunities in the real estate market.
It is an innovative and intuitive way to access the virtual real estate market, giving you the possibility to buy, sell, and rent houses online without having to worry about it.
VIRTUAL REAL ESTATE MARKET DATA FOCUSED ON LUXURY
According to estimates by financial experts, by 2030 the Metaverse industry will constitute a slice of the luxury market equal to about 10%, or 45 billion euros out of a global total of around 400.
The best of real-world luxury is arguably high-value properties, such as high-end homes. This is also true in the Metaverse where the purchase of land and virtual villas is establishing itself. They have become one of the favorite investments of artists, entrepreneurs, and even large companies.
During 2021, almost 500 million euros were invested in virtual real estate.
The trend is also supported by great personalities such as soccer champions and tennis players, as well as by the most important multinational companies such as Republic Realm which have already invested in the Metaverse.
Real Estate Company that has already invested approximately $ 4.5 million in the purchase of land on Sandbox – one of the best known virtual real estate platforms in the world – and currently owns 2,500 parcels of land spread over 19 diversified worlds.
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DEFINIG LAND AND HOW TO BUY A LAND IN THE METAVERSE
First of all, those interested in buying virtual real estate need specific cryptocurrencies that they must have in their virtual wallets.
All these things will probably seem strange to you, but don’t worry… everything is simpler than you think.
A wallet is simply a virtual checking account where you can store your cryptocurrencies, such as Bitcoin or Ethereum.
For example, among the best known wallets there are Coinbase or Exodus.
Through the digital wallet you will change your dollars into crypto. Which crypto though?
It depends on which metaverse the land you want to buy is in.
Once you have the required sum available for a certain virtual land in your wallet, you will have to access the platform of the metaverse you have chosen, select the plot and pay for it or, if necessary, participate in an auction and then buy it.
There is also OpenSea, a decentralized trading platform that offers the ability to buy and sell digital assets tracked on the blockchain. It allows you to buy lands of different metaverses through that marketplace
These virtual lands, in fact, are perimeters drawn on equally virtual maps and once the purchase is complete, you can build on them or in any case carry out other operations aimed at increasing the value of the purchased lot.
Of course, it is also possible to rent or sell properties that have already been built, even through consultants or dedicated real estate agencies.
WHERE ARE THE BEST LAND IN THE VIRTUAL REAL ESTATE MARKET?
There are a dozen platforms offering virtual homes and land. Around 270,000 units are put up for sale. If you are looking for virtual land and real estate, the four main metaverses on which to buy them are Sandbox, Decentraland, Cryptovoxels and Somnium.
Sandbox, the leading platform in the sector, represents 62% of the market, with approximately 167,000 properties measuring 96×96 meters, for sale at $12,700 each (as of December 2021).
Uttopion has also recently landed in the Metaverse, where it is possible to buy a plot of land for a sum ranging from approximately 2,000 to 20,000 euros.
But the number of real estate platforms in the Metaverse and investors are growing daily. So much so that there are those who speak of a virtual “real estate boom”.
Those who have the financial resources to do so are in fact buying properties in the Metaverse, so as not to miss the opportunity to invest in what appears to be the future of luxury goods.
IS INVESTING IN LAND BETTER THAN BUYING BITCOIN?
According to some experts, investing in the virtual real estate market is more profitable than buying Bitcoin and other cryptocurrencies.
While cryptocurrencies have a very variable (sometimes unstable) cost, the price of virtual properties increases progressively. Just think, according to the latest statistics, the average growth in demand for land within the Sandbox between April and May 2021 is was 27%.
Consequently, in a market where demand is so high and supplies limited, it is almost certain that the virtual real estate investment will bring a good return.
So, if you intend to invest in digital reality by buying land or other digital assets, know that this can be an excellent opportunity to generate profits in the medium to long term.
Always remember-before making investment decisions, always make sure you are familiar with the virtual real estate market and the risks it may involve.
Also, always consult a qualified expert before purchasing land or other digital assets to avoid any potential rip-offs.
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