There is a land rush happening. And it is not in the real world. Can you guess where people are switching to buy land? Yes, you guessed it right, it’s in the metaverse. Also called the perfect combination of augmented reality and virtual reality, the metaverse is the extension of the real world where you can indulge in almost any activity.
Metaverse land investment is a hot game in the digital realm. One can see the surge in the metaverse land price with the fact that someone has paid 450,000 million dollars in SANDBOX virtual space just to be the digital neighbor of the famous American Singer Snoop Dogg!
NFT: The Gateway into Metaverse
NFT aka non-fungible tokens play an important role in metaverse land. They are your token of your ownership of your parcel in digital space. The term, non-fungible tokens represents your ownership of metaverse virtual land. This certificate of ownership exists on Ethereum blockchain-based metaverse virtual real estate platforms.
NFT is called your gateway into the metaverse because people can transfer ownership of virtual land securely and safely. In a digital transfer, non-fungible tokens have good potential. However, you must know that the NFT metaverse is still in its infancy. But be prepared because anything can happen in the metaverse.
Why is the World Going Crazy for Metaverse Parcel?
In a nutshell, the metaverse is the extension of this century's best internet experience. As a metaverse property owner or investor, this virtual realm will provide your customers to connect with your marketing goals in a transformative way!
Myth Busted About Metaverse: That Very Less People Talk About
Facebook just rebranded meta but it's not that Facebook invented metaverse. Just like Facebook, you can see many other people on metaverse like Adidas, and Coca-Cola. For sure, Facebook has raised the hype of the metaverse because we people resonate with it so much in everyday life.
A glimpse of Virtual Land in Metaverse
The term “virtual land” in the metaverse is most often used with a parcel of digital images on the metaverse platforms. These metaverse lands are powered by blockchain-based virtual real estate platforms.
For your understanding, you can consider the virtual property in the metaverse the same as your real-world real estate. It is because, at both places, you can do anything with your purchased land. Most importantly, in the digital realm, you can put a monetary value on your virtual property in the metaverse by renting for virtual events and other activities.
Types of Metaverse Platforms – Centralized and Decentralized
You might have heard about Decentralized metaverse platforms like Khubero, Decentraland, Sandbox most often. This type of metaverse platform is coupled with crypto and works on Ethereum based blockchain.
Unlike Centralized metaverse platforms like Roblox where the control is in the hands of a certain entity. You don't get much freedom to put a claim on your digital ownership. This doesn't happen in the decentralized metaverse.
Your Roadmap to Buy Virtual Property in Metaverse
Don’t get puzzled by the daunting steps. Continue reading as we will easily let you so that you become the proud owner of the virtual property in the metaverse.
2 Steps can be taken into consideration
- Make a direct purchase from Ethereum powered blockchain metaverse platforms.
- Switch to an NFT marketplace like OpenSea.
Next, you need to buy cryptocurrency. A handful of metaverse platforms and even the NFT marketplace demands you to purchase crypto beforehand. In addition, one needs to register with a digital wallet. Distinct platforms have their digital wallet type.
Most importantly, ensure the platform you are linking with your digital wallet must support cryptocurrency. If you proceed with Decentarland and SANDBOX, they have their digital currency. The former one has a MANA token and the latter one has a SAND token.
Once you purchase the cryptocurrency or tokens, consider a few important factors of metaverse property. For instance, land price, the seller, transactional history, and nearby locations around the property. These are the factors that will help you to put a better monetary value on your digital land.
Wrapping Up
So now you know that buying virtual property is also a lucrative deal just like real-world real estate. You have seen celebrities like Snoop Dogg, and Daler Mehndi also invented in the metaverse. The metaverse in the upcoming years will become synonymous with daily life. Many people have already started enjoying virtual and augmented reality in its infancy stage on metaverse platforms.
