To Be or Not to Be… Virtual Lands

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Different types of NFTs provide numerous options for their usage. As discussed in the article explaining what to do after buying the NFT, game NFTs is a big category. They often enable bonus in-game opportunities for the players, such as the ability to get valuable powers, unique experiences, and a key to access certain levels and private in-game locations. Speaking of virtual lands, they remain a mystery for the majority. Today we would like to talk about this phenomenon.

 

Virtual land is easy to compare with real estate. Tangibility is a key difference. When you are buying a house in the village, you usually also become the owner of the physical land around it, as well as trees and other physical objects. Ownership of virtual land is kind of the same but this type of land is intangible, and it only exists in virtual reality. Despite that, users can trade virtual land and use it the same way as the other digital assets. It can actually cost millions, just like physical real estate. Also, virtual land can be used for development purposes, you can play games there, etc.

 

Virtual lands are purchased for cryptocurrencies. For example, in Decentraland the users use MANA to pay for it, and the land is sold in the form of non-fungible tokens. The other popular virtual world platforms are Sandbox and Earth2, but there are surely more. This niche received a huge boost during the pandemic years, and we can expect to see more amazing startups in the virtual real estate market in the nearest future.

 

Digitalization of the world is reality and thanks to NFT technology, modern investors can gain a sense of ownership over intangible assets such as virtual land. But since it’s a very new concept, most people are still hesitant about whether it’s a good idea to invest in virtual land. Like in any other business, there are, unsurprisingly, pros and cons. So here are the advantages:

 

-   Easy to start

 

Buying virtual land is much easier than buying real land. No paperwork, no taxes, no maintenance fees – it’s a piece of cake for those who hate bureaucracy.

 

-   Exponential returns

 

The rapid expansion of the crypto-investment universe brings the digital future closer. More and more big brands, celebrities, and multi-millionaires are joining the NFT and metaverse race. It’s only a matter of time when virtual land will become a common thing to own. Today investors spend millions on virtual lands and these are people who don’t usually throw money around. It’s similar to buying up tangible land in developing areas only to sell it back later when the value has increased.

 

-   New form of asset

 

In real life, the land is something everyone admits to be a very good asset. Virtual land sounds almost as good as tangible land and people who hear about this new asset class automatically consider it to be a good investment because of the quick digitalization of the world and the high value of physical land. In some groups, it’s also becoming a viable store of wealth, just like the artworks and real estate in the real world.

 

-   Regular income

 

This is still hard to get to some people, otherwise, virtual estate sales would grow exponentially. It’s actually possible to build virtual real estate and rent it out in the digital world. This is just one simple example, and we will surely see more ways to monetize your ownership of the virtual land. Thus, this new type of asset can be a source of income for you.

 

-   Allows to be a creator

 

If you ever wanted to be God, the virtual world is the place where you can practice. NFT marketplaces like OpenSea allow artists and other creative people to sell their creations. You can make something unique in the virtual world, unleash your creativity, gain popularity, and earn money.

 

These are just the major facts about virtual land, but we hope they will help you to make the right decision. Crypto investment is always a high risk, but we see the trend that real estate in the metaverse is booming, and we all hope it will last. You may also want to learn how to pick NFTs in general.