Metaverse Land - What is This Virtual Land? Is it Worth Buying Metaverse Land?

“The internet is becoming the town square for the global village of tomorrow.” 

We all would agree with the statement made by the very renowned Bill Gates. The internet has indeed become the central information hub and a common meeting ground for the inhabitants of all corners of the Earth. Be it a medium to acquire knowledge, a platform for entertainment, or day-to-day trivial things, the internet is the hub. It is one of the greatest inventions ever. 

We all must have heard a word or two about the concept of the metaverse. But did we know that one could even purchase his/her own land in the metaverse world? How would it be to live in a world of virtuality? 

What is Metaverse? 

Metaverse is the way to it. It refers to the collection of virtual reality rooms which are connected to a perceived virtual universe similar to the internet. With the help of metaverse, one could actually enter the internet and perceive it as an environment. 

Metaverse will enable users to meet, work, game, and socialize in 3D spaces through a virtual model. 

Apart from real-world places, one could dive into virtual worlds. 

Metaverse in Real Estate 

The metaverse is made up of several platforms that allow people to engage with one another while also allowing them to develop their digital fantasies. Those dreams can be anything from small games in scary cemeteries to advertising billboards, commercial districts, even metaverse headquarters for real-world enterprises.

Decentraland, The Sandbox, CryptoVoxels, and Somnium Space are the only four platforms that now offer major prospects for acquiring virtual real estate. 

Each metaverse platform has a defined amount of lots available. Depending on the platform, the number varies. As a result, land in the metaverse is a finite resource, which is why investors are scrambling to get a foot in the door before the best sites are grabbed.  

Why buy the Virtual Land?

Just like investing in a property is considered a good option by many of us, buying a metaverse land is a new option that has been on the list. Just like buying land in the real world, buying land in the metaverse is a safe option. 

What is meant by "dwelling" in the metaverse is having a location to call home, where one can show off their belongings and maybe even invite friends over to hang out with you. It's similar to having a personal website in the early days of the internet before everyone switched to social networking. Individuals will be able to display their personalities online through metaverse "homes."

As in any other investment, there is no guarantee that the investment will turn out to be successful or not. However, the average prices of the metaverse estates have been increasing by a factor of 10 over the past year.

Many individuals are purchasing digital land today because they anticipate it will become much more valuable in the future as more people get interested. 

How to buy Metaverse Land?

On the metaverse, the land is typically purchased with cryptocurrencies such as Ethereum, SAND (the money associated with the gamified metaverse platform The Sandbox), and MANA (connected to the community-based Decentraland platform). The transfer of NFTs is used to record sales and ownership of metaverse land.

Balle Balle Land

Popular Indian singer, Daler Mehndi has created history by becoming the first Indian to purchase land in the metaverse. The singer has named his land “Balle Balle Land” which is inspired by his culture and songs. He's bought a plot of land on PartyNite, India's own Metaverse. It has also come to news that events and music concerts will be hosed at the land in the near future. 

Source: thestatesman

Conclusion

The internet has indeed become the central information hub and a common meeting ground for the inhabitants of all corners of the Earth. 

Metaverse is the new world with all the facilities that one could ever wish for. The metaverse land, which is the virtual land has been a matter of discussion these days. Daler Mehndi, the Indian singer has bought his own land in the metaverse land and will utilize it to boost his singing events and concerts. 

The metaverse land has been a topic of the town and is gaining attention very quickly.

Written by Srishti Kumar