Metaverse Virtual Real Estate is booming.

Metaverse is a booming industry, with artists, musicians, and companies from different sectors eager to get involved.

Currently, many big investors are participating in this “fat” market, including famous fashion brands and giant technology corporations who are very interested in this market.

One of the familiar names is Meta, Microsoft, and other information technology giants; fashion houses like Gucci and even multinational companies like Adidas and Pepsico are setting up stores in Metaverse by buying or leasing assets.

New opportunities

Metaverse properties are purchased through blockchain-based ecosystems such as Sandbox, Decentraland, etc.

However, there are still a lot of problems in this market; one of the biggest is that some businesses and individual investors still don’t understand Metaverse. Fortunately, many Metaverse real estate agents can guide every purchase stage, just like they do with real estate in the real world.

Benefits of Metaverse

Although Metaverse has only grown in the last few years, its prices have risen steadily considering the popularity of NFT overall. Thus, the land plots are NFT, a digital asset stored on the blockchain.

People who are not tech-savvy don’t have to worry about this process because the technology behind the NFT protocols does it for us automatically. For example, on the largest OpenSea- NFT marketplace by volume – anyone can turn a digital file, whether jpeg or mp4, into an NFT by molding it, which is a very intuitive and straightforward process involves making a few clicks.

The plots in metaverses will be encrypted and registered in their respective blockchain. Thanks to the transparent nature of blockchain technology, anyone can see the trading history behind them, who the owner is, and what its current value is.

The opportunity is enormous, and we can compare actual and virtual properties; the main difference is: 

• Buying virtual properties is done directly — no intermediary is needed

• Unlike physical real estate, plots can be purchased with cryptocurrencies.

• After purchase, ownership is automatically transferred to the buyer on the blockchain.

Some notes when buying a virtual property

Like physical real estate, anyone who wants to buy virtual real estate needs to consider location, size, and land scarcity. Certain counties in the Metaverse ecosystem are better depending on the site, as businesses can create marketing campaigns that reach out to broader traffic.

However, it’s not just about advertising. Certain players in the field are taking it to the next level: Adrien Cheng- CEO of New World Development, bought one of the largest land plots in the Sandbox. He plans to create a “megacity” to develop an innovation hub for technology and business startups.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

CoinCu News

KAI