There are a great number of advantages to owning a metaverse real estate, the most tangible of which is the possibility of the property’s worth increasing over time.
When you own a metaverse real estate, you have access to a special plot of land in the virtual world and can use it for a variety of purposes.
If someone had stated about two decades ago that we would be able to acquire acres of property and have real-life experiences in the virtual world in the same way that we do in the real world, it may have seemed like an unfathomable dream at the time, but now that idea is a reality.
In the same way that there are real estates in our physical world, there are also real estates in the Metaverse.
What is Metaverse?
The concept of the Metaverse entails a virtual world in 3D in which people are connected to one another in various facets of their lives.
Through the use of a single web browser, users are able to navigate to a variety of websites that are hosted on different platforms. Users are able to participate in exciting, immersive experiences thanks to augmented reality and virtual reality, which are made possible by the metaverse.
Now that we know what the metaverse is, let’s talk about real estate in the Metaverse.
What is Metaverse Real Estate?
These are swaths of land that can be found in various virtual worlds. Simply said, they are virtual
lands that are made up of pixels or, more accurately, digital pictures that are sold in portions.
People can interact with one another, have fun, go to parties and virtual concerts, participate in gaming, and engage in a wide variety of other activities within these programmable areas in virtual reality platforms.
Users are provided with a space to make online connections with one another through the utilization of metaverse real estate.
Since ownership is absolute in the metaverse, individuals are free to monetize the content of their property in any way they see fit, including by leasing, selling, or trading their non-fictional tokens (NFTs), but most importantly, they are free to use it anyway they see fit.
10 Affordable metaverse real estate platforms
The amount of land available on each metaverse platform is capped at a certain number of lots. The number differs considerably between the various platforms.
In this sense, land in the metaverse is a scarce commodity; as a result, investors are currently interested in getting the most desirable locations.
It is reasonable to anticipate that these experiences will come at a premium price as the land grab in the metaverse proceeds; after all, they are not provided for free. Because of this, we have made a list of 10 affordable real estate options that are available to you.
- Sandbox
- Decentraland
- Axie Infinity
- Illuvium
- Cryptovoxel
- Somnium space
- Blocktopia
- Star Atlas
- Upland
- Otherside
Sandbox
This is one of the most well-liked and straightforward metaverse real estate platforms.
The ETH blockchain serves as its foundation, while the SAND token serves as its official currency. This is required for each and every transaction that takes place on the Sandbox market.
The cheapest plot of land may be purchased for 1.648 ETH, which is equivalent to around $2.7754 USD. The largest piece of land available on the crypto market is a piece of property that measures 96 meters in width and 96 meters in length.
Decentraland
This is widely recognized as the first-ever metaverse initiative, and on this platform, virtual lands with a combined value of billions of dollars have been sold.
Additionally, it uses the blockchain of ETH. Since MANA is the country’s primary cryptocurrency, it can be used to pay for the acquisition of real estate.
There are 9438 streets, 3588 plazas, 43689 individual land parcels, 33886 district lands, and 90,601 total lands.
The dimensions of a plot of land are 16 meters on either side, previously, each land covered a square space measuring 10 m by 10 m.
The highest-ever land sale was for 2,000,000,000 MANA. The average cost of land has increased from under 500 USD to over 3000 USD. The lowest-priced land was available for 3487 Mana.
Axie Infinity
It is one of the most successful cryptocurrency ventures in web3 that allows users to play games and earn through the games.
AXS is the cryptocurrency that is being utilized officially.
Savannah, Forest, Arctic, and Mystic are several sorts of real estate that can be purchased in Axie infinity. Savannah is the most affordable option, with a price tag of only $1,749.32. Each parcel of land is comprised of sixty-four blocks (8×8).
Illuvium
Built on the Ethereum blockchain, this game features open-world exploration, a collection of NFT creatures, and autoballer gameplay.
ILL tokens, which can be acquired by spending ETH, serve as the platform’s native currency.
A plot of land could be purchased for a starting price of 2 ETH, which is equivalent to around $3,486 USD. The sale price that was recorded as being the lowest was $567.
Cryptovoxel
Cryptovoxel is the first market on the African continent to appear in Metaverse.
Real-world infrastructure including roads, buildings, lands, etc. can be found in this virtual world. Users are allowed to own land parcels and erect buildings on top of them. Ethereum can be used to buy individual pieces of land.
Lands can be bought, sold, and rented out, in addition to the many other options available.
Just like on the most popular metaverse platforms, it is constructed on the blockchain of ETH.
A portion of land in Cryptovoxel is being sold for 1.899 ETH, which is equivalent to around $3,335.
Somnium Space
Somnium space is a virtual reality environment based on the ETH blockchain in which players have the ability to acquire land, construct buildings, explore, and trade.
People are able to fully immerse themselves in a full virtual reality world, hop in casually to join an event, and visit their preferred destination when they use Somnium Space. It is perhaps the most advanced and immersive virtual reality experience that is currently available.
A plot of land is 600 square meters in area and 25 square meters in height, and it may be purchased for 3.2 ether, which is equivalent to approximately $5,496.79 USD.
Bloktopia
This is a decentralized version of the metaverse that Polygon has created and is supporting.
Bloktopia delivers a virtual reality experience that has never been seen before, one that unites people together in a single environment that is both immersive and interesting.
The transaction of purchasing a piece of real estate is referred to as Reblok. For the purchase, you will need $BLOK, and for the gas fee, you will need MATIC.
The price of REBLOK can range anywhere from 480k to 1.2m Blok, which is approximately $5,280 to $13,200. The price is determined by the size of the store as well as its location.
Star Atlas
Star Atlas is a multiplayer gaming metaverse with a space-based theme that was developed on SOLANA, in contrast to a great number of other popular metaverse platforms.
The Solana is the official currency in use here. Land can be obtained through actions or in secondary markets, and landowners can sell their portions of land in return for ATLAS if they so want. The ATLAS is the currency used in-game.
The bare minimum price for certain products, such as ships, can be as little as 20 USDC.
Even though not all of the game content has been made available just yet, there are some goods that can be bought in the marketplace.
Upland
Upland is a game based on blockchain that allows users to buy, sell, and trade virtual properties that are matched to actual properties.
Users can use fiat currency or cryptocurrencies (UPX coins) to purchase virtual goods within the game.
Users can create properties and earn UPX coins by becoming “digital landowners.” Each property on the Upland platform is connected to an NFT by the project using blockchain technology.
Most lands in Upland start at around $6,000 to $10,000, although they may often go considerably higher. Prices vary according to the size and area of the land.
Otherside
Yuga Labs, the company responsible for creating Bored Ape Yacht Club NFT, is also the developer of the Otherside metaverse project.
Although Otherside is a metaverse that is still in development, it does feature 200,000 properties of “land” that can be acquired unrestrictedly by the purchase of “Otherdeeds” or the minting of new ones.
In The Otherside, the lands are referred to as Otherdeeds. Each Otherdeed has a collection of resources and is considered to be Dynamic NFTs.
This indicates that the characteristics of an Otherdeed are subject to alteration depending on how you play the game. Each piece of land in Otherdeed has its own setting and sediment.
The price of each Otherdeed was initially fixed at 305 APE, and each APE was valued at around $20 during the minting process, the initial cost of each Otherdeed was approximately $6,100.
Conclusion
The creation of metaverse real estate is still in its infancy, thus more advancements are likely to occur soon. As technology develops, we anticipate that purchasing land in the metaverse will become simpler.
The cost of virtual properties is also increasing, with prices skyrocketing every year, thus this may continue to change.
Considering that everyone is still getting used to the concept of the Metaverse, any investments made in it carry a high level of risk but also have the potential for large profits.
If you want to invest in any metaverse real estate, make sure to do your research to make the right choice.
