The metaverse has received a lot of attention in recent months. Because the metaverse is regarded as the next phase in digitalization.
A hybrid technology that combines augmented reality (AR), virtual reality (VR), and video.
Interest in metaverse real estate has increased when Facebook declared it would change its name to Meta and focus on constructing its digital reality.
Several celebrities and corporations, including Gucci, Snoop Dogg, Daler Mehndi, Warner Music Group, and others, have already purchased real estate in the metaverse.
However, selecting the correct virtual land is influenced by many of the same considerations as selecting the right real-world real estate: When selecting a platform and a parcel, location, utilisation, and long-term potential are all important factors to consider.
How do I buy metaverse land?
Land on the metaverse is typically purchased with cryptocurrencies such as Ethereum, SAND (the money associated with the gamified metaverse platform The Sandbox), and MANA (connected to the community-based Decentraland platform). Obtaining these is usually the first step.
These two platforms are currently the most popular for owning online land and property because they have well-established infrastructure and other well-known landlords and renters, such as the celebrities and companies described above, to lend legitimacy to them.
Land on either of these platforms can be purchased straight from the platforms.
The transfer of NFTs is used to document sales and ownership of metaverse land, thus the second thing you’ll need is a wallet that can hold these.
Two of the most popular are Metamask and Binance.
In addition to buying directly from platforms, there is a thriving third-party resellers’ market, just as there is in real-world real estate.
Platforms such as opensea.io and nonfungible.com function as decentralised estate agents in the digital sphere, allowing sellers to display their property and prices and purchasers to haggle.
The future
In the long run, this will be determined by the metaverse’s future. Certainly, some extremely large and prominent corporations, ranging from Facebook (formerly known as Meta) to Microsoft and Nvidia, are wagering big that it is the “next generation” of the internet.
If that is the case – and the metaverse becomes as vital to business and society in the next 20 years as the internet has been in the last – then digital real estate is likely to become an increasingly intriguing and useful commodity.
We clearly embrace the possibility that internet allows us to build audiences and create interesting new products and services, from major company to personal businesses and influencers.
