In this post, I have discussed the best virtual land marketplace and detailed procedures to buy and sell virtual land in the metaverse.
Purchasing virtual real estate property on the metaverse is a great opportunity to make money with the metaverse. However, it is difficult for most investors to find a good deal to purchase land on the metaverse. Investing in virtual real estate property in the metaverse is the hottest and the most undervalued thing. Thus, if you are interested in purchasing virtual real estate property in the metaverse world, then you shouldn’t miss this post.
This post definitely will clear all your doubts about purchasing virtual real estate property in the metaverse.
Before understanding how to make money by buying real estate property in the metaverse. Firstly you should know about the metaverse and its works.
What is the Metaverse?
Metaverse is the advanced digital world based on technologies such as virtual reality, augmented reality, 3D realistic avatars, and more realistic virtual experiences. And It will change digital experiences in the future. It connects humans from all over the globe to connect for digital concerts, conferences, virtual trips, etc. It focuses on providing a realistic virtual experience to connect with friends, relatives, etc.
Recently we are on the way to creating the next phase of the Internet. “Right now, we are on the cusp of the next internet,” said Matthew Ball, Managing Partner of Epyllion Industries in Feb 2021.
When can we expect to see the Metaverse technology?
Meta’s former name (Facebook) CEO Mark Zuckerberg predicted that it would take 10 years to create metaverse features and technology and after that, the metaverse becomes the mainstream. But some aspects of the metaverse currently exist. High-speed internet, virtual reality headsets, 3D avatars, and a virtual online world are some signs of the metaverse’s existence.
How does Metaverse technology work?
Metaverse technology is a realistic virtual world based on advanced technologies such as Virtual reality, augmented reality, and 3D hologram avatars, and a realistic virtual world. It will be the future of the Internet. It consists of many basic technologies such as:
- The Internet: Metaverse implementation requires a decentralized network of computers available to the public. It should not be owned by any private organization or government. It doesn’t require any permission from any entity to use it.
- Open Media standard: A realistic Metaverse world requires open standard media such as text, audio, images, video, 3D items, 3D scenes and geometry, Pixar’s USD, and NVIDIA’s MDL.
- Extended Reality (XR) hardware: Metaverse world the extended reality hardware such as smart glasses, haptics, and Omni treadmills.
- Smart contract platform: Metaverse technologies require decentralized, transparent, censorship-resistant transactions based on blockchain technology. Popular Examples include Ethereum, Flow, Theta, and Bitcoin. It is the most important foundation of the metaverse and it should be publicly available.
What are NFTs?
The term NFTs stands for Non-Fungible Tokens. It is defined as intangible digital assets that are located in the form of games, videos, or photos.
The definition seems so complicated and confusing, yet the concept of NFTs is so simple. So, we are going to explain the core concept of NFTs simply.
Okay, let us explain the concept of the NFTs with an example of an exceptional painting. The painting is designed using art and craft software, and the ownership of the painting remains with you. In the digital world, you are the creator of thousands of paintings. And you have produced and sold copies to the people. Although you have the original rights to the painting. So, here in this case you can create and use an NFT of the original painting. In other words, an NFT is considered a token or certificate of the original painting, and you have the intellectual rights to the painting. Meanwhile, you have sold possession of the original painting to the buyer.
Record-Breaking Land Sales
According to The Metaverse Group, have purchased a patch of digital land for 168,000 MANA tokens which are equivalent to approximately 2.4 million dollars.
Presently, the metaverse is a good investment option for the highest number of active traders and sales. Last week, The Sandbox platform has registered the highest cumulative trading volume of more than 86 million dollars.
Now, let’s move to the list of the top five virtual land ecosystems right now. Here’s in this post, I will be covering the top virtual land NFT platform that includes
Axie Infinity, Decentraland, The Sandbox, Bitcountry, and Aavegotchi.
Top 4 Virtual land marketplace to buy or sell virtual land
Axie Infinity Lands
Axie Infinity Lands is a great place to purchase virtual real estate property. It uses the blockchain gaming protocol that originally kicked off the game-fi.
It is surprising that the property listed in Axie Infinity Land has priced top the average home price in Manhattan and also it beats San Francisco’s average.
It is evident that it holds a top-five position in my eyes because of the following reasons:
- The Axie Infinity Magic world comprises seven different types of land that have each metric of rarity, geo-topographic location, and utility range.
- It also can be categorized into four different items based on pure rarity: common, rare, epic, and, mystic. Each holding has its own set of aesthetics, utilities, and individual characteristics.
- Seven land types include Savanna forest, arctic, Mystic Genesis, and lunar landing.
The Sandbox allows its users to create or sell their virtual real estate properties in the NFT Marketplace. And the Decentraland platforms allow their users to create wearable things and other assets like 3D scenes for the Decentraland platform.
- The virtual real estate property purchased in Decentraland is permanently owned by community members. The platform provides the proof of ownership contract wrapped within each NFT land property.
- Land property in decentraland is divided into parcels. So, the parcels can be identified by Cartesian coordinates such as x, and y.
- Decentralized native token Mana is officially used for purchasing Metaverse land parcels.
- There are some land parcels available that can be further organized into theme communities called districts. These districts are comprised of adjacent parcels that share user interests.
- There are opportunities for users to own a parcel of land and thus become Decentralised builders. This would allow the end-user to add some scenes. Or It also facilitates entirely customized environments for their land space.
Must Read – What is Omniverse | NVIDIA is now on Metaverse.
SandBox is a metaverse game that is owned by SoftBank. This game helps users to buy or sell virtual property on the Metaverse Platforms.
From this game, you can purchase or sell a virtual property and you can also trade on the SandBox platform. To get all access to all these functions in the sandbox you will need to purchase a cryptocurrency that was called SAND. SAND is a native coin of the Sandbox, which is based on the Ethereum Blockchain.
Like the other Blockchain coin which is running on the Ethereum Network. However, the $SAND coins help the users to all the transactions possible in the parts and the pascals of its gameplay.
In the Nutshell, SAND coins uses are as follows:
Stake your SAND coin and earn a reward as a player in the system.
Used these SAND coins into purchasing the ASSETS like NFTs and LAND or virtual real estate.
Through Coins purchase the equipment during the gameplay.
Currently, you can be trading from the SAND coin into the major CEXs and DEXs.
My Neighbour Alice
Recently Facebook announced that it will release its Metaverse giving Gaming Companies a new direction. The game is based on the Metaverse plots in a 2D project to a new level. Like if we talk about the “My Neighbour Alice” game.
If we talk about Game, My Neighbour Alice is an RPG game that allows players to purchase the virtual plot in the game. The game uses the $Alice token. To use these tokens, the user has to purchase in-game products like building houses in their virtual plot or doing anything in the plot. In the game, players can interact with their neighbours as they want to build the type of community that they want. This game is probably released on the Steam platform in mid-2022.
For those users who hold $ALICE:
You can play and earn rewards from it.
You could have become part of the governance architecture.
From $ALICE coins, buy the gaming items.
Again Stack the $ALICE coin and earn rewards.