What is virtual land? How to buy virtual land in Metaverse

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2021-12-21 21:24:03

Metaverse is creating heat across the entire crypto space following Facebook’s recent decision to change its name to Meta. And cryptocurrency is proving itself to be the currency of these new virtual worlds.

Watch now: Things to know about Metaverse and 5 notable Metaverse projects

Metaverse, where people can do many of the things they do in real life. A Metaverse exists in which geographic locations of the real world on a map are partitioned relative to the user-generated virtual environment.

In terms of geographical location, buying “Virtual Land” in Metaverse is an important development. Users are using real money to buy them, own them and they have recently made a profit.

Let’s see what is “Virtual Land”? Where to buy virtual land in today’s article.

What is virtual land?

Virtual land is land in a new city that only exists in virtual reality. Buyers can build anything they want on their land and have the opportunity to earn income right there.

Why do people compete to buy Virtual Land?

New property

Digital real estate has established itself as a legitimate asset class. Its value is increasing exponentially, becoming an attractive investment opportunity.

It also has the potential to be a viable financial asset, similar to real-world artwork and real-world real estate.

Fomo

There will always be people who have a feeling that they might be missing out on something great that is a strong motivator for them to buy physical or virtual stuff. Many people have missed buying Bitcoin when it was very cheap, causing them to look for alternatives. And Virtual Land is a choice in that.

Profit

Virtual land has the potential to bring huge profits. The convenience of turning the land upside down (the way they do with real estate) and a steady bull market have allowed many people to make thousands of dollars in a short amount of time.

Opportunity to earn extra income

Virtual land opens up new possibilities for income earning opportunities like real land. Such as building art galleries, implementing advertising campaigns or renting to others to build and make money.

Some users create virtual casinos on their virtual land. Major retailers are also looking at the possibility of opening stores in virtual reality. And more than that.

Easier buying and selling process

Digital real estate also avoids the difficulties associated with buying and selling in the real world. Such as excessive paperwork, maintenance and taxes to pay.

The use of blockchain technology also improves the security and traceability of land purchases.

Low barrier to entry

Land prices are increasing worldwide. But virtual plots offer the same benefits at 1% lower costs. Therefore, buying real land may be out of reach for many people, but buying virtual land is within reach for some money.

How to buy virtual land?

There are many Virtual Worlds around that we do not know. They exist and grow all the time.

Since the introduction of Virtual Reality (VR) and Augmented Reality (AR), many companies have worked on creating virtual worlds that can be viewed using compatible devices such as computers, smart phones, etc.

Here are the main places to buy virtual land as well as the amount of money people need to invest to be able to own one.

Axie Infinity

A group of virtual pets focused on collecting, mentoring, raising, and battling imaginary creatures known as Axies, had 822,567 in sales, bringing in a total of $162,692,497.1 with The average price is $197.79.

The cheapest land in Axie Infinity is currently over 14000 USD (see illustration below). To buy a piece of land in Axie Infinity visit here.

Decentraland

A virtual reality marketplace powered by the Ethereum blockchain, completed over 129,806 sales transactions totaling $100,499,665.57, with an average price of $774.23, on Nov. 27.

If you want to buy a plot of land on Decentraland marketplace, go to here.

Then you log in with Metamask and find the plots for sale. Land in Decentraland doesn’t come cheap, with MANA prices soaring, land owners inside Decentraland are making big profits.

Decentraland-land

Sandbox

A community-driven UGC-voxel system where users buy their land and store their creation magic. Cheapest land price 2290 SAND.

To buy land in Sandbox, visit here. Connect with your metamask wallet and buy. As of 11/27, a total of 129371 sales took place on the Sandbox, bringing in a total revenue of 195,055,828.59 USD with an average price of 1507.72 USD.

virtual land-sandbox

summary

Around the world, people are spending millions of hours every day in the virtual world. As long as people believe that something has value. Certainly, there will be some short-term investors looking to profit from virtual land lots in the hope that their value will increase. On the other hand, others simply want to have access to these lands because they feel like it.

Land prices may decrease in the future. It is quite new and has not been fully adopted yet. There are always risks involved in investing, please see the article for reference purposes only and not investment advice.

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