Typically, a metaverse will divide its space into different areas, including plots of free land, which users can easily purchase and use for a variety of purposes (we will detail those later on). This land is not only purchasable but also programmable, and it’s bought, sold or exchanged in the form of non-fungible tokens (NFTs) in exchange for cryptocurrency and even fiat. Spaces are valuable as users can create a number of experiences, play games, socialize, host events, and more. As they are NFTs, the ownership over the land and the digital assets in it can be easily proven. All transactions involving metaverse land are equally public record. Users can normally purchase a plot of metaverse land through the platform’s marketplace - or opt for a third party NFT platform such as OpenSea and Rarible.
What Can You Use Virtual Land For?
From renting to managing metaverse land, some of the revenue-producing trends playing out include
Users can choose to snap up a plot of virtual land and re-sell it for a markup.
Rather than letting a plot of land sit idle, many users are opting to build upon it a wide range of virtual properties, for themselves or that users can also use. That includes digital casinos, clubs, concert venues, NFT galleries, stores, and much more.
The popularity of land NFTs has seen the emergence of dedicated real estate brokers who, much like in real life, link sellers to prospective buyers, or simply advise clients on how to best manage their metaverse properties.
Areas of the metaverse with heavy foot traffic are increasingly becoming a valuable spot for advertising purposes. Owners of that land can rent it out and let companies use it to promote their products and services.
The metaverse is designed to magnify the experiences we already have online, while helping create new ones. As such, land in the metaverse is being used to host events and run services. Metaverses like the Sandbox also encourage users to create and publish mini-games and educational activities that others in the community can benefit from.
A number of established companies, including PwC, Sotheby’s, JP Morgan and HSBC are now resorting the metaverse as a complement to real-life operations, allowing clients to access services and interact with staff almost as they would in the real world. In fact, a raft of financial players have started looking into additional ways of making business in the metaverse by exploring virtual real estate lending, metaverse mortgages, consumer lending and crypto transactions.
the cornerstone of this exciting new universe
What Are the Different Types of Metaverse Lands
A metaverse is like an interconnected network of several three-dimensional virtual worlds that are connected to the internet. People enter these spaces using augmented VR, which has made this a digital world accessible to anyone in the real world. Understanding the types of metaverse lands is key to learning how to buy land in the Metaverse.
Metaverse real estate is rapidly expanding, and we have discovered three very unique kinds of metaverses. Some focus more on their internal construction, providing the user with an intimate opportunity to explore the worlds inside of them, while others focus more on external exploration, making it possible for users to reach out into other universes by traversing a path into other existing lands.
Is Metaverse Land a good investment?
As with any other emerging technology, there are risks and rewards associated with any investment you might think of making. And sure, metaverse land (and the lack of tangible assets) might seem like a mind boggling concept to many, but the potential of virtual worlds as well as adjacent technologies like virtual and augmented reality, and artificial intelligence can hardly be disputed. Only time will tell whether the metaverse is just another speculative investment filled with overpriced digital properties, or if virtual worlds are the future of the internet.
How to Buy Land in the Metaverse?
If you want to buy land that belongs to a virtual world that offers the potential to grow in value, then it will be necessary to obtain cryptocurrencies first. Follow our tips on how to buy virtual real estate in metaverse, and we’re sure you’ll be able to purchase in no time! If you’re considering buying Land in Decentraland, for example, you might have to obtain MANA or Ether (Ethereum) beforehand, or even SAND.