Metaverse Real-estate sales reached $500 million USD in 2021 and could more than double this year.
Day by day, the demand for virtual land on the Metaverse is skyrocketing.
A lot of people start to join metaverse in the virtual land section.
Why is that happen? How can people buy a virtual property with their real money?
The answer is, yes!
Anyone can buy land on the Metaverse in exchange for cryptocurrencies.
The piece of land is essentially a non-fungible token (NFT), which is an asset class on the blockchain that cannot be exchanged for other items.
Every person has their own reason for why that they want to buy a virtual land.
In other words, each NFT is unique and has inherent value
And the NFT holder can retain ownership or sell it to another buyer for the same or different price.
Land parcels work the same way in that users can purchase them via a Metaverse marketplace, save it to their wallets, and develop the land themselves or sell it to another party.
Most of them maybe see it as another level of investment
while the other try to get public validation of their selves.
According to xrtoday.com there also some points that make metaverse real-estate valuable;
- Parcel size – The size is the basic number of pixels in a plot of metaverse real estate. It determines how much or how little one can develop in this space.
- Location and proximity to landmarks – Proximity to plots owned by large corporates or celebrities can sell at a higher-than-market value rate.
- Possible use cases – The size and location will determine the use cases for the land. For instance, plots next to a VR street can be valuable due to display ad opportunities.
- Metaverse platform adoption rates – Finally, the popularity of the platform itself determines the price. Widely-adopted ones will drive more users to the land, making it more profitable.
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