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How To Buy Land & Real Estate In The Metaverse
We are quickly heading towards the age of the metaverse – connected, persistent virtual realities where we will live digital lives alongside our real lives. Increasingly we will use these spaces to work, play, socialize and learn – anything we can do in the real world will have a “digital twin” in the metaverse that we can interact with without leaving our homes. This includes investing and making money, and just like in the real world, one of the most popular ways to do this will be investing in property.
Metaverse real estate (or should that be virtual estate?) is already big business. Superstars, including Snoop Dog and global businesses including PwC, JP Morgan, HSBC, and Samsung, have already snapped up plots of virtual land, which they intend to develop for a variety of purposes. Those who got in early have already made big returns – on paper, at least. Less than a year ago, the average price for the smallest plot of land available to buy on Decentraland or the Sandbox – two of the biggest metaverse platforms – was under $1,000. Today it’s sitting at around $13,000.
So is this another chance to pick up the hottest and newest digital assets before they blow up? Like buying Bitcoin 10 years ago or NFTs two years ago? How do you get involved if you want in on the action? Or are you better off keeping your distance from what may end up being an over-hyped bubble that's about to collapse? Read on to find out!
Why buy metaverse land?
Just like buying land in the real world, there are two main reasons you might want to buy land in the metaverse. The first is probably the safest – you want to use it for something, such as building a house to live in or premises from which to do business. When we talk about "living" in the metaverse, we really mean having a place to call home, where you can show off your possessions and maybe even have friends over to hang out. It’s a bit like having a personal web page back in the early days of the internet, before everyone moved over to social media. Metaverse “homes” will become a way for individuals to express their personality online or house their collections of unique digital collectibles. This is probably the less risky reason for wanting to own metaverse land – because it’s likely that you’ll get what you want out of your purchase!
Read More at https://www.forbes.com/sites/bernardmarr/2022/03/23/how-to-buy-land--real-estate-in-the-metaverse/