Becoming a Virtual Landlord and Buying Virtual Real Estate

Buying Virtual Land plots in the metaverse is way easier than it seems. It just takes a few clicks to become a digital property owner or a Virtual Landlord. 

related: JP Morgan Launched Virtual Lounge In Decentraland

Why Buy Virtual Lands?

Metaverse is a virtual world living on a blockchain, offering more than what we have explored so far. We have tangible assets to interact with in the real world, which is not the case in the metaverse. Almost everything we interact with in the metaverse is a non-fungible token (NFT). Metaverse is buzzing as it is backed by NFTs, including virtual properties like land plots. 

The fad is taking longer people are pouring more money into it. The Sandbox alone has seen a record $211 million of sales between 2019 and 2021 – virtual real estate is becoming more concrete than real estate. Virtual real estate is a unique land and other assets just like in a video game – a collection of virtual worlds where buying virtual land is possible but can be more valuable than real land. Celebrities like Snoop Dogg and businesses like PricewaterCoopers are already buying virtual lands in the metaverse.

How to invest in Virtual Real Estate

Since the Sandbox and Axie Infinity are well-known platforms and buying a land plot from platforms can be expensive as the floor price for the Sandbox virtual plot is over 1.49 ETH, and the most costly sold to this date is worth 3,644,834.6103 $SAND tokens, as per Opensea data. Although these are very famous platforms, buying virtual plots from such platforms could be expensive. 

If you want a neighbor plot to Snoop Dogg in the metaverse and you can afford it, you should definitely choose these platforms. However, if you’re a retail investor looking for the next big thing to invest in and become a virtual landowner, you should look for relatively newer projects like SaaR – a play-to-earn game on WAX Blockchain.

Most of the projects have their land plots available on opensea.io and nonfungible.com for secondary sales, where anyone can buy these virtual land plots by simply connecting your crypto wallets like Metamask or Trust Wallet. The ownership of these lands will be transferred to you through NFTs. The land ownership will be transferred to the wallet you’ll use to buy it. Buying directly from the project’s website is also an option used by the projects utilizing the mint process.

Conclusion

With so much happening in the blockchain domain and giant tech companies jumping into Metaverse ventures, the future of virtual lands is bright and promising. A gentle reminder, DYOR, before you dive into any crypto, NFT, Metaverse, or any other project. 

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author: mnmansha

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.