July 14, 2022
According to the study, 500 million euros worth of virtual properties were sold in 2021, with around 85 million euros delivered in January 2022 alone, making the market one of the hottest in the world.
Metaverse real estate sales are expected to reach around €1 billion by 2022. This makes this market segment very interesting for investors all over the world.
If you are now with your Cryptocurrency trading bot If you have earned money that you want to invest in something very promising, then you should pay attention to how to buy the land of the Metaverse in 2022.
Properties of Metaverse Properties
Metaverse is a fully immersive 3D virtual environment where users can have realistic interactions with each other, with digital objects, and with avatars controlled by artificial intelligence.
Because of its interoperability, the spatial communication platform can host both virtual games and collaboration spaces in the same solution, allowing users to easily move between virtual worlds.
Metaverse is also decentralized, which means that no single company has sole control over the Metaverse. Anyone can invest money in it and take advantage of the infrastructure and settings.
VR, AR, MR, blockchain, AI, 5G and cloud technologies are integral to Metaverse’s ability to provide these services.
Metaverse has the abilityTo become an online version of the real world, it has its own economy and culture. Land in the Metaverse that can be bought or rented is a well-known example of this goal.
Virtual “lots”, i.e. individual pieces of a Metaverse, are pieces of 3D space on which creators can place objects, design virtual reality worlds, overlay experiences, build interactions, and so on.
The Metaverse usually has a democratically governed governing body that determines how new stakes are created, allocated, and made available to investors for purchase.
Sandbox, Decentraland, Cryptovoxels, and Somnium are four of the most popular Metaverse platforms for selling virtual lands today.
This parcel is represented on the blockchain as a non-fungible token (NFT), a special type of asset that cannot be freely traded.
After purchasing an NFT, the buyer has the same rights as if they actually own the property, including the ability to build on it, rent it out, sell it, etc.
How to buy real estate in the virtual world of Metaverse?
There are three main ways to buy real estate in the Metaverse:
1) Contact a real estate agent who specializes in Metaverse
There are real estate agents that work only in the Metaverse. Although the field of digital real estate is still very new, agents like Tal and Oren Alexander have already had successful careers.
They previously only handled high-value real estate transactions in major American cities like New York, but now they are plunging into the Metaverse.
It was announced last December that they would be brokers for quality real estate in the Metaverse, focusing on both location and aesthetics.
The two created Republic Realm, a virtual land company that just spent $4.3 million on a sandbox property.
These brokers and agents can help potential buyers find and buy prime properties in the Metaverse.
2) Check if you can get a cheap mortgage on Metaverse
The second option is to look at a Metaverse mortgage, which may be cheaper for the average buyer.
Because it is a relatively new concept, only a few financial institutions offer loans from Metaverse.
Users can purchase TerraZero plots for use in the “Big Four” Metaverse environments of Decentraland, Somnium, Sandbox and Solana Portals.
TerraZero currently offers real estate loans in the Metaverse for both virtual land in the form of vacant plots that can be built from scratch or leased.
3) Use your cryptocurrency to buy real estate in the Metaverse
This is the easiest option for buying lots in the Metaverse and works well with cheap contracts.
If you decide to get a mortgage instead of an NFT, the process is almost the same as if you Bitcoin can i buy The only difference is that the mortgage company is the legal owner of the property until the loan is paid off.
If you want to buy land in the Metaverse, what are the risks?
Buying land in the Metaverse carries the same risks as any other investment. First of all, the land is not suitable for human habitation, it serves only as a financial asset.
Second, the actual adoption of the platform over time and the location of the property is critical to its profitability. If you don’t sell the property quickly, you may have to wait a while before you see a profit.
According to a survey conducted by the business-focused social network Blind in 2022, only 13% of IT professionals invest in virtual real estate.
Metaverse Real Estate, despite its inherent risks, has proven to be a viable investment option for many and can play an important role in diversifying their portfolios in the future.