The Metaverse: Investing in a Virtual Real Estate Market
| LAST UPDATE 02/20/2023
The metaverse is revolutionizing the way we interact with one another - you can now own property adjacent to your favorite celebrities without ever having to leave your couch! This groundbreaking technology has opened up a world of possibilities, creating exciting new opportunities for us all. Here's a look.
Investing in virtual real estate provides a unique opportunity to create immersive workplaces, playgrounds, and meeting rooms across different platforms within the metaverse. Popular platforms such as The Sandbox, Decentraland, Metahero, Horizon Worlds, and Celebrity Atlas are highly sought-after by investors looking to benefit from this rapidly growing sector of investment. Whether it's for entertainment or business purposes; experiencing these digital developments through programmable pixels is just one click away!
With the emergence of a digital parallel universe, it was only natural for virtual and physical worlds to eventually converge. This convergence has been realized with MetaReal mansion – an opulent Miami residence that comes with its own Non-Fungible Token (NFT) asset set to be put up for auction in 2023! The sale will serve as proof of concept ushering us into an era where real estate is tethered not just geographically but also digitally making NFTs tangible investments across all realms. Owning land in the real world requires a deed or title, but what about owning something intangible? With blockchain technology and its cryptographic ledgers, it is now possible to own non-fungible tokens (NFTs) - assets with unique codes that are backed by cryptocurrency. Real estate NFTs are just like owning physical property, but instead of bricks and mortar you get 3D blocks. With your plot secured safely in your digital wallet, it can become whatever you want: an exclusive holiday hideaway or a bustling metropolis full of businesses to collect rental income from - the possibilities are endless!
Investing in metaverse real estate has become one of the most sought-after activities for those involved with AEC, and it's no surprise why: prices have skyrocketed over the past four years! In 2017, during Decentraland's first LAND auction at Terraform Event, a piece of virtual property was sold for an average price tag of $20. Fast forward to 2021, where that same land saw its value jump up significantly—with parcels selling on average above $6,000 each. If you thought that seemed high; now, in 2022, these properties are worth even more - going as far as costing potential buyers around $15k apiece! With these developments, it looks like virtual investment could be the next big thing on everyone's horizon…