7 Secrets You Didn't Know About Virtual Land
Discover some interesting facts about virtual lands!
Announcements
Anyone who follows the news about technological advances has certainly heard of the metaverse and virtual realms.
The metaverse, which seeks to combine the real world with the virtual, is still in its infancy. However, some platforms are already adapting to this reality and are therefore developing digital universes.
In this way, it becomes possible to acquire “pieces of land” to build digital businesses, also called “metaverse lands”.
With that in mind, we've created exclusive content for you. In this guide, you'll discover what virtual land is and some secrets about this technology! Keep reading to learn more.
What are virtual lands?
Virtual land is an intangible land that exists in virtual worlds.
These portions of land are located in worlds like Decentraland and The Sandbox, which, at least for now, are considered the most popular.
Just like in the real world, the pieces are divided into lots and there is the possibility of appreciation.
Virtual land, which is currently being formed in the metaverse, is already selling for hundreds of thousands of dollars.
Virtual reality could revolutionize the real estate market
The real estate market is a sector that easily adapts to advances in technology.
In fact, in recent months, some technologies have been developed to help with real estate sales, such as the 360º Virtual Tour.
Basically, this new feature allows the user to “feel like they are inside the property”, meaning they see images of the property’s rooms.
And virtual reality has everything to do with the metaverse, doesn't it? After all, it can help with both physical real estate and virtual land sales.
7 Secrets About Virtual Land
Certainly, the metaverse is arousing the curiosity of people and companies.
Anyone who keeps an eye on this trend could do very well.
But what many don't know is that there are some really cool facts about virtual land. Let's take a look at them together.
Below, discover some secrets about this new feature:
1. There are already stores in the metaverse
Have you ever considered the possibility of shopping online in a real store in the metaverse?
Well, Lacta, for example, launched a virtual reality technology capable of inserting consumers into the metaverse.
The goal is to enable consumers to make their purchases in this environment.
Developed in partnership with a platform, the space allows users to enter the store and “interact” with the available products.
2. Virtual real estate will become a trend
The real estate market is being revolutionized by the metaverse.
With the recent announcements from Meta (formerly Facebook), which is investing heavily in creating a virtual universe (since it is capable of integrating all of its resources), many companies have begun to show interest in acquiring virtual land.
This way, each person can create their own avatar and participate in the virtual universe.
And these properties are selling for very high prices!
3. Virtual land totals US$106 million in sales
Land speculation is very strong in the metaverse.
According to data from the DappRadar website, four projects in the niche generated US$100 million just from the sale of these plots of land in the form of non-fungible tokens.
Only The Sandbox project alone generated a volume of US$1.4 billion at the end of 2021.
As you can see, this market will move a lot of money around the world.
4. Virtual land is a new category of commodities
The term commodities comes from the English language and means “goods”.
In the past, it was used exclusively for this purpose. However, due to advances in the global market, it has acquired certain characteristics.
Now, it is used specifically for goods that are commodities.
In fact, commodities are global consumer goods. For this reason, they can be traded on the stock exchange.
In addition to the basic definition, a commodity must present world-class quality standards and a high level of marketability.
And the rise in popularity of virtual land, coupled with Meta-driven advertising, has turned these “pieces of land” in the virtual universe into a commodity category.
5. A plot of land in a virtual world was sold for US$1,400,000.
A virtual plot of land in the online world Decentraland has been sold for US$1,400,000.
Decentraland itself stated that this transaction was the most expensive to date.
The land in question is in the “Fashion Street” area of the Decentraland map and Tokens.com.
It will be used for digital events and sale of virtual clothing for avatars.
The acquired land has an online space equivalent to more than 560 square meters.
6. It is possible to rent land in the metaverse
Companies interested in virtual businesses can rent virtual land in the metaverse.
Just like in the real world, rent depends on location. The more valuable the land, the higher the price.
7. The main metaverses are Decentraland (MANA) and The Sandbox (SAND)
Decentraland is a virtual universe that was built on the Ethereum (ETH) blockchain in 2015.
Through it, users can purchase virtual land, so that they can transform it into online businesses.
Developers have put 90,000 lots up for sale, which have already been acquired. However, land can still be traded on the secondary market.
The Sandbox is a virtual environment that enables the creation of digital projects, such as companies and online spaces for events.
How to buy virtual land in the metaverse?
You can purchase virtual land directly from developers such as The Sandbox and Decentreland.
Interested parties can purchase their own virtual environment using cryptocurrencies.
There is also the possibility of making the purchase on the secondary market, as we mentioned.
Major platforms already have their own online storefronts. However, virtual land is available on NFT marketplaces like OpenSea.
Conclusion
It's important to note that investing in virtual land presents many opportunities, but also some risks.
Either way, there's no doubt that the metaverse is here to stay.
In fact, this will influence not only the value of virtual land, but also the way we relate personally and professionally.
