The metaverse gained more popularity than ever this past year as we experienced a transition into a new era of digital connectivity in 2022, especially with Facebook officially changing to “Meta” in October 2021. The main idea of the metaverse lies in creating an entirely immersive replica of our existing reality without any physical boundaries meaning the potential of this new digital universe is almost beyond comprehension!
Decentraland staged its first metaverse land sale before the end of December 2017, selling individual acres for about $20. The cost of the parcels rose to $6000 towards the end of 2021, and by the middle of 2022, prices had more than doubled to about $15,000. It’s these unprecedented spikes in value that has major players flocking to invest.
Interest in Metaverse Real Estate has risen higher after multiple celebrities have purchased digital land. In 2021, a purchase of $450,000 was made for the land adjacent to Snoop Dogg's virtual home, allowing the owner to become digital neighbors with the hip-hop icon. In this article, we will delve into the specifics of why the value of metaverse land is growing and shed light on how you can invest in digital real estate as well.
With the Metaverse gaining so much traction, it’s natural to wonder how to capitalize on it. You should understand that metaverse land works similarly to physical land. There are many different areas more suited for particular businesses; farmland, residential land, commercial land with high foot traffic, etc. With metaverse land, you should focus on your business goals. For example, Snoop Dogg’s Snoopverse would be a good place to buy a plot of land to sell hip hop oriented NFTs or avatars.
The Metaverse enables gamers or users to run applications that let them create avatars that are either identical to or superior to them. These avatars can interact socially, work, and make money from investments. These users can then buy Metaverse land to build gaming centers, online shops, and art galleries; the possibilities are endless. Essentially, the Metaverse provides a connection between the virtual and physical worlds.
You must first acquire cryptocurrencies if you wish to purchase virtual real estate. For instance, if you're thinking about purchasing land in the Bluemoon Metaverse, you might need to first acquire Ether (Ethereum) or MANA.
Currently, metaverse platforms have some of the best-developed and well-organized real-world infrastructures, which new owners are free to alter as they see fit. Land can be purchased directly from owners or investors. Follow these steps to learn how to purchase metaverse land.
The success of your investment is significantly impacted by the platform you select for your metaverse land. It all depends on what you want to do with the land you acquire, but be aware that there are a variety of possibilities available. For example, the Bluemoon Metaverse enables businesses to enter the Metaverse with their own digital worlds for a variety of uses spanning from entertainment, finance, healthcare, and more.
A wallet where you can access your cryptocurrency is necessary. Before choosing, you must confirm that the cryptocurrency is compatible with the platform where you intend to buy your Metaverse land. The Bluemoon Metaverse eases this process by allowing its users to shift their assets across networks with a few simple clicks using multi-chain compatibility.
Each metaverse platform has a different registration procedure. You will link your wallet after initially creating an account. It takes just a few clicks to link your wallet, and you may install browser add-ons that take care of the integration for you.
Cryptocurrency can be bought via online markets like Binance. Make sure you have enough ETH or MANA in your wallet to make your desired investment whenever you are ready to explore, bid, or buy. Inside Bluemoon’s Metaverse, users can display their NFTs while automatically listing these NFTs on multiple NFT Marketplaces, including the Bluemoon Marketplace. This allows visitors to buy NFTs on a single platform.
In the long term, the vitality of virtual real estate will depend on the future of the Metaverse itself. Several wealthy and influential companies, from Facebook to Microsoft, are betting big that it will be the next evolution of the internet. If the Metaverse can become as essential to business and society as the internet has become, digital real estate will become a progressively more profitable asset.
From large corporations to personal brands and influencers, people love the opportunity the internet gives them to create followings and build new products and services. The Metaverse might be the next big thing, but much more immersive than its predecessors, like social media. This likely points to a promising future for the virtual real estate market. Now that you have a basic understanding of how to buy Metaverse land do your research and choose the investment that best suits you.