The Metaverse is envisioned as the future Internet era, in which individuals can meet, work, and live as they would in real life. Many businesses have begun investing in and purchasing virtual land in order to prepare for the future. The activity will generate large revenue in the future.
Following the launch of the Meta virtual universe on the Facebook platform, the metaverse is garnering increased interest from investors. Many people are flocking to buy digital real estate because they feel the metaverse is the future of employment, social networking, and entertainment.
1. What is NFT Land?
On the Metaverse platform, NFT Land is a digital land that may be owned. Popular NFT Land projects, including Decentraland, The Sandbox, Axie Infinity,… Because each NFT is unique and easily demonstrated technically, they are perfectly suited to represent land ownership. NFT Land can be used to promote, trade, play, work, and in a variety of other ways.
Virtual land is frequently used by owners to host online experiences, display content, and garner in-game interests. Big corporations and celebrities, such as Adidas and Snoop Dogg, have begun to invest in and use NFT Lands.
Revenue from virtual real estate transactions could reach more than $100 million in a week in the fourth quarter of 2021, according to DappRadar statistics. The prices of these properties on the most prominent platforms around the world Decentraland, Axie Infinity, Somnium Space, and The Sandbox, are constantly breaking records.
The largest virtual real estate deal to date, valued at up to $ 4.3 million, took occurred between New York-based real estate firm Republic Realm (USA) and video game producer Atari SA’s platform The Sandbox.
2. Why invest in NFT real estate?
2.1 NFT Real Estate Is Versatile
One of the most appealing aspects of digital land ownership is its flexibility, which is similar to that of actual estate.
We have far more flexibility in purchasing digital real estate than we do in purchasing real estate in any physical location. You can be guaranteed that your investment will gain in value over time rather than depreciate like other cryptocurrencies on the market because new properties are constantly being put on the market and there is only a fixed amount at any one time.
2.2 NFT Real Estate Is Secure
Investing in digital real estate is unquestionably safer than any other type of digital investment. No one but you has access to your digital assets because every transaction is recorded on the blockchain.
It’s yours once the transaction is encrypted and saved in the NFT wallet. So you can be confident that hackers will not gain access to your digital assets, and you will be able to manage them without difficulty.
2.3 NFT Real Estate Is Tradable
What’s amazing about digital land is that it makes it simple for consumers to buy and sell digital properties. Through the use of new contract protocols, one may accomplish transactions of this sort in a matter of seconds thanks to blockchain technology and its decentralized nature.
As a result, you won’t have to wait days, months, or even years for bank transfers across countries or long durations before receiving your new property’s title deeds. If you want to purchase or sell virtual real estate, you may do it through any of the major exchanges with just a few clicks.
2.4 NFT Real Estate Brings A Passive Income
By lease your NFTs out to other users by setting up smart contracts that allow others to put specific amounts of tokens into your wallet every week, month, or year. You’ll be able to generate income just like you would if you were to purchase property and rent it out in the real world.
2.5 NFT Real Estate Can Be Built As You Want
A single property can be turned into a profitable business endeavor in a variety of ways.
Cash flow is feasible for digital landowners, whether it’s selling ad space, being a member of active affiliate networks that earn affiliate marketing rewards when consumers make specified purchases, or even selling your digital products.
You can exploit your NFT land to its greatest capacity, just like Nike tries to sell sneakerheads in the metaverse. Similarly, architects and interior designers can create structures that can be sold in the marketplace.
2.6 NFT Land Is Perfect For Investors Who Want To Buy Low & Sell High
Thanks to blockchain technology and cryptocurrency exchanges, one doesn’t need millions of dollars to own their pieces of digital property.
By buying virtual land and placing houses or businesses on it, anyone can take advantage of the value that this real estate has to offer.
Like in the non-virtual world, investing in NFT Land allows you to buy low and sell high, making money from price fluctuations and inflation over time.
3. Top 5 virtual NFT Land
As we see more and more virtual lands, the line between the virtual world and the real world is blurring. Here are the top 5 pioneering and most developed names in NFT Land today?
3.1 Decentraland
Decentraland is a virtual reality platform based on the Ethereum blockchain that allows users to create, experience, and monetise content and apps. MANA is the Decentraland platform’s native token for all transactions. Users acquire plots of land in this virtual environment, which they may then navigate, develop, and monetize. Users have built a wide range of experiences on their parcels of LAND since it opened to the public in February 2020, including interactive games, expansive 3D scenes, and several other interactive experiences.
3.2 Somnium Space
Somnium Space is an open-source social virtual reality world powered by blockchain and shaped entirely by its users, allowing them to buy digital land where they can build VR homes and buildings. Somnium 2.0 arrived in early 2020 and moved the project closer to a true Ready Player One virtual experience. Unlike most multiplayer VR games, where players are divided into sub servers and mirrored instanced rooms, Somnium 2.0 hosts all its players in a single massive world. Players can buy virtual land and proceed to build whatever they want on it.
3.3 Cryptovoxels
Cryptovoxels is one of the easiest to get started and build in. A simple URL click will thrust you right into the world if you want to explore, with no fancy software or specific hardware required. Furthermore, players do not need to own land to visit and enjoy Cryptovoxels. Those who want to purchase should know that each land parcel is an NFT, meaning it is unique and cannot be recreated or duplicated, the same as physical land in real life. Every Cryptovoxels land token has individual coordinates representing a specific location on the Cryptovoxels map. Proximity to popular areas, building height, and proximity to the center, typically determine their value.
3.4 Sandbox
The Sandbox is a virtual world where players can build, own, and monetize their gaming experiences on the Ethereum and Polygon blockchains. Native to the ecosystem is the SAND token, used to acquire assets and reward users. Through VoxEdit users can create their own game assets, which they can then use in GameMaker to create games, experiences, or events. In addition, users can sell their creations to other players through the official The Sandbox Marketplace. The Sandbox combines social and gaming elements while providing easy tools for non-technical people to create great content.
3.5 NFT Worlds
NFT Worlds is a collection of 10,000 virtual worlds that exist as NFTs on the Ethereum blockchain. Each world is a limitless universe that can be built into anything a user can imagine. Built on top of Minecraft, each land plot is a mini-metaverse that users can craft, shape and design as they see fit. Each one has unique traits, and visitors are free to explore them. The possibilities seem endless as NFT owners can shape their environment in any way.
Virtual real estate is a major shift in technology and digital transformation takes place outside of the traditional real estate industry. This development will have a negative impact on physical real estate throughout the process of construction, operation, investment, and transfer. The value of NFT Lands has increased dozens of times since its inception. Open for sale so far and early buyers benefit a lot from it. Everyone thinks this opportunity is a Metaverse Fever that no one wants to miss anymore.