Because of leaping development and economic potential, Europe has always been a good home for many people around the world. Investing in real estate in Europe has always been investors’ dream around the world. Of course, with high investor demand and high land prices in Europe, owning land here has never been so simple. So, what is the answer?
1. Why is Europe’s land so high?
The European economy has grown swiftly and has dominated for ages. The manufacturing industry and sophisticated technological powerhouses in Europe are among the top ten. Furthermore, Europe has the world’s best social security system in terms of services, including education, welfare, unemployment insurance, retirement, health care, and public works. Immigrants here live in harmony, stability, and mutual respect. As a result, this is always regarded as a desirable location for living and doing business. As a result, European land is expensive, making it challenging to acquire a piece of property here.
2. The trend of moving from real land to virtual land
As owning real land becomes more challenging, particularly with high land costs, such as in Europe, many individuals and businesses have shifted their investments from real to virtual land. Does the question arise as to why more and more people are opting to invest in virtual land rather than real estate?
3. Why Land NFT will be the future of the real estate industry
3.1. What is Land NFT?
In 2021, Facebook changed its name to Meta. The keyword Metaverse is gradually gaining attention and becoming a craze of interest in the technology world around the world. Many big guys have joined the race to build this virtual universe. The rapid development of Metaverse has created new directions for Blockchain application in many economic fields, including the real estate sector.
Land NFT is a digital land that can be owned on the Metaverse platform. Such land is sold using NFT technology so that its records can be publicly verified, thus ensuring transparency. NFT is well-suited to represent land ownership because each NFT asset is unique and quickly proves digital ownership.
3.2. Benefits of investing in Land NFT
- Do business: Businesses can buy virtual land, then build stores on these Land NFTs to conduct business activities. This is considered a trend that businesses are aiming for.
- Asset Creation: Investors spend millions on virtual lands because they believe the future of humanity is digital. These companies expect millions of people to flock to virtual real estate and invest in virtual land for sale while expecting a potential return on investment.
- Income generation: NFT land is virtual, but it still has the characteristics of real land. Like in real life, users can rent virtual land in the Metaverse, organize parties and special events on it, and advertise on their virtual land. So basically, users can earn some income, certain benefits if they buy land in a popular virtual local like Fashion District, which has a lot of celebrities and a decent population dynamic in the Metaverse.
- For the experience: A virtual land is nothing more than a data block unless the user builds something on it. The possibilities are endless. Some users are buying virtual land in the Metaverse for this exact reason. They are building a unique customer experience on their virtual land.
In the current environment, real estate prices in high-cost areas such as the United States, Europe, and the United Kingdom are rising, making virtual Land NFT the ideal option. Land NFTs’ prices will continue to climb as they become the preferred option for real estate investors around the world. As a result, to uncover investment opportunities in this market, real estate investors must first learn about the value of Land NFT.