You must have bought land before today, if not you, then there must be someone in your family (your father or your uncle) who must have bought land, but all those lands were in this world i.e. in the real world, but do you know we can also buy lands in the virtual world, It is almost like a dream but it is happening. This will be a big deal for you, but today many investors are buying not only virtual currency but also virtual lands in Decentraland, Sandbox, Axie Infinity, etc.
Now many of you must be thinking that what is the benefit of buying virtual land or some people are seeing its future but they may not understand which virtual land they should buy, or from where should I get so much money so that I can also invest in them, or if no virtual lands due to its high price then what else? You will find answers to all these questions here today.
A different world of Avatars
You must have heard about the metaverse, if you haven’t heard it then let me tell you in simple words, the metaverse is a 3D virtual world focused on social connections, where you can do everything that you do in this real-world but in metaverse everything you can do from your home, you don’t need to go out anywhere, like doing parties, going for concerts, attending the meeting, going for vacations and much more and now with the help of metaverse you can buy virtual land too.
This new technology is an enhanced version of virtual reality (VR), which allows multiple people to share collaborative virtual space. Is this the future of the internet?
Investors are paying millions for virtual land in the metaverse
The idea of spending millions on non-existent land may sound ludicrous.
But in recent months, we’ve seen significant investments in virtual land within the metaverse.
Just in the past month, Shoppers have bought digital real estate worth more than $100million for socializing, playing games.
Facebook re-branded to Meta, other companies like Nike and Microsoft, have also announced they will launch into this space.
Now you must be thinking that why are people spending so much on virtual land? So let me tell you that now is the era of Web 3.0. The initial phase of the internet was Web 1.0 (from 1990 to 2000). It is a CDN (Control delivered network), it enables you to showcase some of the information on websites, there are fewer creators but more consumers on Web 1.0
And the social media that we are using now, in which we can create and share our content, is Web 2.0, it is the 2nd generation of the internet and is based on social networks, which increased their participation and collaborations.
Web 3.0 is the coming era, i.e. Cryptos, NFTs, virtual lands, etc. Which works on blockchain technology. It will be a “semantic web” or a “web data” that can understand, combine, and automatically interpret information to provide users with a more enhanced and interactive experience.
Now, it depends on you whether you want to become an early user of Web 3 or want to miss such a golden opportunity. So all the people who are investing in these virtual lands have only one objective they become its early users, which will benefit them a lot going forward.
Also Read: How to Buy Virtual Land in Metaverse?
Also Read: Top Virtual Land to Buy in Metaverse.
Here is the list of the best virtual lands in the Metaverse.
It is a decentralized 3D virtual world platform where users can build things like homes, concert halls, casinos, etc on the Ethereum blockchain via MANA cryptocurrency.
This gives users full control over the environment and application that they create. This is the most expensive virtual land, users of Decentraland can buy or sell the plots while playing & exploring games within its platform. Decentraland was created by Ari Meilich and Esteban Ordano– both have since stepped down from major roles, but still, act as advisors.
Meilich is an entrepreneur who has founded several startups and Ordano has a history in the cryptocurrency world working as a software engineer.
Decentraland was launched in 2017, there are 90,601 individual plots of digital land on decentralized.
The sandbox is an Ethereum based decentralized play-to-earn gaming platform. The Sandbox is unique from other crypto metaverse projects in that its user-generated content ecosystem makes contributing tasks or players without any coding skill.
It allows artists and creators to create their games & digital assets that can be monetized as NFTs. Players engage with the metaverse using Avatars, a Sandbox Avatar is an ASSET that can be created in VoxEdit. Now you must be thinking what is an Asset? ASSETs like trees, vehicles, buildings, etc. are created in VoxEdit and uploaded to the marketplace by the creators. After adding to the library, a player can easily drag & drop the desired asset to the world they are building in Game Maker.
There are only 166,464 LANDS in the sandbox metaverse. Each Land is a unique non-fungible token
After Decentraland, it is the 2nd largest virtual blockchain world. Somnium Space is a virtual reality (VR) world built on the Ethereum blockchain. It is the most advanced option for those looking for a complete virtual reality experience, it is also available in 2D. It allows users to buy digital land, homes, buildings, etc. in its online multiverse.
It was launched in 2017, the project leader was Artur Sychov. Here you can buy parcels of land, creators are able to display their handiwork, there is massive potential for virtual space, games, similar to real life.
The Somnium Space map contains 5,026 purchasable Land parcels, the land is divided into three sizes; small, medium & extra large.
Axie Infinity is a Pokemon-inspired play-to-earn metaverse game, it is built on the Ethereum network, how does Axie Infinity work?
Each Axie is an NFT, the price of which depends on its characteristics. Players can choose and breed parent Axie together to obtain offspring with specific traits.
AXS holders will be able to claim rewards if they stake their tokens, play the game and participate in key governance votes.
Land in Axie Infinity is tokenized and can be freely traded among players. Users must buy three Axies to enter the game.
Every land in Axie Infinity consists of 64 blocks.
Upland is a property trading city-building metaverse designed for players to explore cities and meet other uplanders. Upland is the earth’s metaverse mapped to the real world and can be accessed via Web, iOS, and Android. Upland is built based on three key pillars: Play, Earn and Connect. So, more than anything Upland is a game where you can buy, sell, and trade properties.
New cities are coming to Upland, they recently announced that they will be releasing both Kansas City, Missouri, and Rutherford, New Jersey, simultaneously.
Virtual land as an NFT
Transactions in the virtual world are generally monetized using cryptocurrency. Other than that NFTs are the main method for monetizing. The landowner can normally use their plot to host an online experience, display content. Large brands and celebrities including Adidas and
Snoop Dogg, is also beginning to invest in and use NFT land. To represent the unique ownership of the area, users purchased NFTs linked to a particular plot of Land.
You must have seen people investing in NFTs on platforms like OpenSea, but now you can also buy plots of Land or virtual houses on it. There are many such examples, where people have bought virtual lands through NFTs, like digital real estate investment fund called Republic Realm spend more than $900,000 to buy an NFT representing a plot on Decentraland.
What are the use cases of the metaverse land?
The landowner can use their virtual space in various use cases:
Advertising: If your plot is in a popular area, you can charge for advertising space from visitors.
Socializing: You can host events on your virtual Lands and showcase events of different brands.
Gaming: Your NFT land might have a use in an NFT video game.
Work: You can use your Land as a virtual office with your 3D Avatars.
You must have heard that today he bought virtual land in the Decentraland for $2million, someone bought it for $4million, and many more. But you should not be too hyper after listening to this news and be like I don’t know anything about the metaverse whereas, start understanding things by reading blogs, listening to podcasts, watching YouTube videos, etc. and also apply because without applying things you will not be able to do anything.
So you saw today, why people are investing so much in virtual lands, which are the top virtual lands in the metaverse, and how you can invest in them, but the main thing is that what will be its future? So, here you can build a house, you can buy lands also, but there you will not get the real-world feeling, you can earn a lot of money from there but that emotional attachment will be missed somewhere, but I am sure that this shortcoming will also be filled very soon, that’s why don’t miss this golden opportunity, start with small investments like buying metaverse crypto tokens (MANA, SAND, etc) and during that keep learning about metaverse. Because if you know how to learn something then you can learn anything, no matter how hard it will be.
Frequently Asked Questions
Here are some of the most asked questions about the virtual lands in the metaverse.
The cheapest plots of metaverse land are selling for roughly $11,000, it is available on Decentraland and on the Sandbox. Virtual land has become a hot commodity as some parcels sell for millions of dollars.
NFT virtual land is an ownable area of digital land on the metaverse platform. Some NFT sales of land have reached prices greater than properties in the physical world, there are some similarities in physical and virtual land but as a digital asset on the blockchain, NFT land has some unique features to explore.
Nowadays, the proper way to verify that the property belongs to you is usually in the form of physical paper. But imagine being able to transfer a property from one person to another, entirely safely, online.
You can do this by using NFTs, because of this, NFTs have the potential to keep our real estate data safe.
In around 10years, I believe the question will be “why not” because till then there will be a lot of virtual engagement which might put your business in front of so many visitors, in such case you can connect with more consumers, then I believe major companies will only invest in the development of metaverse.
Virtual reality offers an immersive experience for anyone who can put on a headset. It enables anyone to see and work in a digital world. With a full VR headset, users can dive into a full virtual-based world, where people can move around easily and interact with other people through their Avatars. There they can set up their business, arrange a meeting, start selling their products by communicating with other visitors and much more things.
On the other hand, Augmented reality is basically a reflection of the digital world in the real world. AR-connected glasses could help in driving the development of a new 3D virtual environment.