Metaverse is a new game concept that allows players to explore a virtual world and interact with players while monetizing assets. The best crypto games enable players to earn rewards while being entertained and battling against competitors. Although these rewards are digitized as NFTs or cryptocurrencies, players can exchange their tips for fiat currencies or other assets. Some Metaverse games allow players to build lands or monetize their lands. By acquiring parcels, players can add infrastructure and further help their land, turning the decorating experience into a gaming experience.
It’s not just players who benefit from buying Metaverse real estate. Brands have also seized the opportunity to advertise. They used their Metaverse digital properties to promote their services/products and host virtual product launches.
Investing in real estate in the Metaverse can also be a lucrative venture. Buying land in the Metaverse allows investors to trade or lease it. As with natural land, real estate in the Metaverse can be valued. For example, Decentraland’s first LAND auction in 2017 achieved $20 per piece of land sales. Four years later, investors paid nearly $6,000 for the same property.
Although in the virtual world, Metaverse property prices are also affected by macroeconomic events. Some investors took money out of the weak dollar and put it into other assets like NFTs. Some celebrities also took part in the campaign. Famous NFT owners include Paris Hilton, Snoop Dogg and Eminem.
Owners and Digital Land Uses
Having celebrities as neighbours in Metaverse properties can increase property value. An example is an investor who buys land adjacent to Snoop Dogg’s property for more than $400.00. But those aren’t even some of the most extravagant purchases. Investment company Republic Realm, now known as Everyrealm, bought 792 lots of digital land in the sandbox for $4.3 million.
Then there was the purchase of Tokens.com in Decentraland for $2.4 million. Both companies have big plans for their digital real estate tokens. They are planning to allocate the land for holding fashion events and commercial use.
How Does Metaverse Land Work?
Many investors wonder how to buy land in the Metaverse, but they must understand how Metaverse real estate works so they know what they’re buying. Virtual properties in the Metaverse are treated the same as natural land. They must be divided and recorded to avoid double ownership. The Metaverse is a virtual space divided into land segments called parcels. Investors explore the Metaverse to identify valuable parcels.
The value of each parcel is determined by several real-world factors such as neighborhood, amenities, and residents. An investor paid over $400,000 to be Snoop Dogg’s neighbor in the virtual world.
Paying for Land
Once investors have determined the packages they want, they need to buy Ethereum to trade for NFTs and the platform’s native token to gamble with. Sandbox players require SAND. Investors can purchase SAND and other best metaverse cryptocurrencies on exchanges. Investors might want to consider a project like Battle Infinity that allows them to monetize land. To participate, players must purchase the Battle Infinity token.
A piece of land is considered a non-fungible token (NFT). Each NFT is unique, so it can only belong to one person/organization. This prevents double ownership and fraud. Once players have purchased a platform’s native token, they exchange it for the country they are looking for. After buying the land from the Metaverse, investors can store it in one of the best NFT wallets.
Real Estate Options
Several options are available now that an investor owns digital real estate. The investor can build on parcels by adding assets to make them more valuable. Another option is to lease the virtual land for cryptocurrencies. Investors can also swap the country if they want. Or they can own the land without transforming it and wait for it to be appreciated.
Once the value of the land increases, they can sell it for a profit. Some brands use their country to promote products and services on billboards. Other companies use the land to host special events and network with other players.
Is Metaverse Real Estate a Good Investment?
An investor’s goals and the digital terrain they occupy determine whether Metaverse real estate is a good investment. As with natural properties, it generally takes considerable time for virtual properties to be valued. Therefore, investing in Metaverse real estate is more suitable for long-term investors. Investors can choose between natural or virtual land when investing in real estate. Comparisons are used to decide which is better.
Investors have access to digital land as long as the Metaverse works. But technology can break, or interruptions can cause system errors. On the other hand, owning natural land means that it is only accessible where it is located. Access to virtual land is available anywhere in the world as long as the owners can access their wallets. Investors should also compare Metaverse land prices to land they could use to build an actual home, which would likely increase the value of their land.
Big companies like PricewaterhouseCoopers and Gucci have bought land in the Metaverse. Each brand will use the land for different purposes, but they would only have bought it if they believed it had value. Owning a piece of Metaverse land will consider a good investment. That requires an investment in one of the best NFT projects in the Metaverse.
Metaverse Land Prices
Before asking where to buy Metaverse land, investors should look at Metaverse land prices. Valuing digital land can be more challenging than natural land as it is a relatively new concept, and the market has not yet matured enough for appraisers to measure it. Currently, the value of most virtual spaces is based on the hype surrounding them. It’s a combination of good marketing and prominent participation. But what can investors pay for Metaverse land?
Before the Metaverse became a thing, a property on the Decentraland platform was valued at $20 in 2017. After demand and hype hit the digital real estate market, investors paid up to $6,000 for the same lot. Some companies have spent millions of dollars on prime virtual real estate. Factors such as scarcity and past ownership also affect the price of land in the Metaverse. The best thing about the Metaverse is that it adapts to all budgets. Whether investors want to invest a few hundred dollars or millions, Metaverse has land available.