The Complete Guide To Metaverse Land And Real Estate

The term “metaverse” has been thrown around at an increasingly frequent rate these days. In fact, searches for “Metaverse Land” and “Metaverse Real Estate” has grown exponentially over the past couple of months. In this guide, we’ll cover everything you need to know about Metaverse, Land and Real estate. Read on!

metaverse land real estate

Table of Contents

What is Metaverse?

Simply put, the Metaverse is a blockchain-based virtual reality world in which users can game, interact with a computer-generated environment, and experience things as they would in the actual world.

Users can engage themselves in this virtual world and interact with overlaying people and objects in the visual projected in front of them by using the current VR and AR tech.

The Metaverse is a convergence of two ideas, virtual reality and second digital life, that has been around for quite some time.

Digital assets are at the center of this augmented reality game because it is built on blockchain technology. These assets form the foundation of the Metaverse ecosystem.

The online everything shift of the pandemic appeared to have gained the Metaverse some momentum, and it is widely tagged as the next phase in human evolution. Today, the term refers to various assets, environments, and experiences in the virtual world.

Most Popular NFT Land Platforms

An NFT Land is a digital platform that allow developers to create everything from augmented reality to Virtual reality. These platforms make connecting between the virtual and actual worlds possible.

If you’re interested in cryptocurrency currency, it is crucial to understand Metaverse platforms. These Metaverse platforms provide an alternative to the current internet; they do it more efficiently. The internet is hoped to become like the Metaverse, where actual and virtual reality can interact and intersect.

Some of the more popular ones are:

1) Sandbox

Sandbox was founded by Sébastien Forget (COO) and Arthur Madrid (CEO) as a game in 2012. Blockchain and 3D was introduced to the game in 2018 when Animoca Brands, a venture capital firm acquired the company.

The Sandbox Metaverse layer is divided equally into grids. All land is the same size, and users can combine plots of land to generate a bigger place.

Sandbox is built on and powered by the Ethereum blockchain and is well known for its security and stability.

Land on Sandbox is sold through auctions and can be bought using the platform designated currency SAND. SAND is the utility token for the Sandbox Metaverse and is a fungible, ERC-20 token.

Checkout Sandbox here.

sandbox land

2) Decentraland

Argentinians Esteban Ordano and Ari Meilich founded Decentraland in 2015. One of the earliest Metavese platforms, Decentraland is an open-source 3D Virtual world platform that runs on the blockchain. The blockchain serves as the base for the Decentraland universe.

During its launch in 2017, MANA, its cryptocurrency, traded at $0.02, and the platforms digital Land had an asking price of $20 

Decentralland is a single-layered Metaverse platform divided into equal grids. Every single coordinate in Decentraland is called LAND.

There is a finite supply of LAND, and only the community has the authority to construct additional Land through Decentraland DAO (a decision-making tool for MANA and LAND owners)

Check out Decentraland here.

3) Cryptovoxels

Cryptovoxels is a virtual world created and powered by the Ethereum blockchain, using the ERC-721 token.

Nolan Consulting created Cryptovoxels in April 2018, with Inspiration was taken from past works on AFrameVR and SceneVR.

Land parcels were offered to early buyers through OpenSea but became available to all in July 2018 when the developers removed the beta key.

The Cryptovoxels Metaverse has a designated token called the Cryptovoxels Parcel.

The possibilities are endless with Cryptovoxels. Users can build, rent or sell their land parcels. Users can also remove or add images, embedded video, blocks, and audio on their land parcels.

Check out Cryptovoxels here.

4) NFT Worlds

NFT worlds is a fully decentralized, customizable and community-driven play to earn (P2E) gaming platform that allows users to create their individualized metaverse games or experiences and invite others to join. It is currently using Minecraft’s gaming engine.

Its utility token is the $WRLD token, a fungible ERC-20 token on the Ethereum blockchain. The $WRLD token is used to access exclusive content and perks, and you can earn it by playing games within the NFT worlds. You can also buy $WRLD tokens on Uniswap.

Check out NFT Worlds here.

5) Worldwide Web3

Worldwide Web3 is an MMORPG Metaverse land where you can play to earn coins and NFTs. It is one of the first Metaverse land platforms that allow you to bring your own NFT avatars into its Metaverse game. You can also create your own Metaverse spaces and host your events or experiences using their interactive space builder.

Check out Worldwide Web3 here.

6) Arcade Metaverse

Arcade Metaverse is a platform where NFT projects can own land and build their own experiences for their communities. For land owners get exclusive drops, NFTs, tokens, access to a special community of land owners, and the ability to monetize their land. So far, many popular NFT projects have join the platform such as Phantabear, Cool Cats, Mfers and many more.

Check out Arcade Metaverse here.

7) The Otherside (Ape Metaverse)

Perhaps the most hyped Metaverse land project in recent times, The Otherside is a Gamified Metaverse realm launched by Yuga Labs (the company behind Bored Ape Yacht Club). To own land in The Otherside, you need to own or mint one of the 55,000 Otherdeed NFTs, which can can purchased with ApeCoins. Otherdeeds that possess a ‘Kodas’ are deemed more valuable, and many speculate that it is going to be the next 10k PFP collection given that there are only 10k Kodas in circulation. Not much is known about this Metaverse at this point of time, however, it is rumoured that it is going to be compatible with many bluechip NFTs, especially those owned by Yuga labs.

For the latest information of The Otherside, visit Yuga Labs twitter.

What is Metaverse Real Estate?

Real estate in the Metaverse is pixels of parcels of land. However, these lands are more than digital images. They are programmable spaces in Metaverse platforms where people can do countless activities such as socializing, attending meetings, playing games, attending virtual concerts, and many more.

Digital real estate is expected to expand and grow with the rise of the Metaverse. 

After Facebook changed its name to META, the Metaverse real estate saw a boom, indicative of a focused internet in the Metaverse.

It is forecasted that the value of Metaverse real estate will have a CAGR of 31.2% between 2022 to 2028.

How to buy land in the Metaverse (owning property in the Metaverse)

Considering that every Metaverse is built on and powered by the Ethereum blockchain, the easiest way to purchase a piece of virtual real estate is via OpenSea.

Parcels of Land exist as singular NFTs, and like any other, they can be transferred and traded. Buying a plot of land in the Metaverse is the same as purchasing any other NFT; you have to link your wallet to OpenSea.

Using Decentraland as an example, all you have to do is head to the Decentraland Marketplace; once there, navigate to the “land” section and select a plot within your budget.

Once you’ve picked a parcel and initiated the process, an in-game prompt will guide you through the rest of the transaction.

You can only purchase an NFT in Decentraland through its native token MANA or ETH; this is true of Sandbox and others.

Once the transaction has been completed, a quick check of your OpenSea account or in-game wallet will confirm your new status as a proud Metaverse real estate owner.

What can you do with Metaverse Land?

Depending on the platform, users of the Metaverse can use their land for work, adversity, gaming, socializing, and other use cases.

Some investors might speculate, while others might use the land for its intended purpose. Some lands host conferences, events and even act as advertising spaces.

Metaverse Tokens - Are they worth investing in?

Metaverse tokens are the units of virtual currency used to facilitate transactions within the Metaverse. Metaverse token holders can access multiple applications and services inside the virtual space.

Some tokens give users special in-game abilities, and others represent unique items like a membership for a community or clothing for virtual avatars. However, unlike your conventional virtual games, Metaverse tokens have value inside and outside the virtual space. 

Tokens in the form of cryptocurrency can be exchanged for fiat currencies or used to authenticate ownership to tethered real-world assets like works of art or collectibles if they’re an NFT.

Metaverse tokens have been gaining traction, and it doesn’t look like they’re slowing down, with tokens like MANA at $2.21 and about $4million market cap and SAND at $3.17 and about $2.9million market cap. 

Where to check Metaverse Land price?

Before buying a Metaverse Land, the current price is something you’ll be interested in.

On OpenSea, you will see any NFT collection floor price you wish to buy in each collection stats section. 

The floor price is the lowest price acceptable for collection items, rather than the item’s average price, and is updated in real-time.

Decentraland on OpenSea is currently 4.312ETH or $11,217.24, while The Sandbox is 2.7ETH or $7,023.78 per item

Summary

The Metaverse has an immense potential to revolutionize our lifestyles by providing a virtual environment that blurs the line between reality and digital. 

Digital real estate has become massively popular in the cryptocurrency space, and it’s relatively easier to buy and sell than actual land.

However, the current prices sometimes make it more expensive than a physical real estate investment. Follow safe practices and consider the risks before purchasing Metaverse Land.