How to Buy Land in Metaverse?

Understand the Basics of Investing in Metaverse Real Estate – A Guide on How to Buy Land in Metaverse

Do you wish to own property in the Metaverse? 

Yes, you got it right. Property in the Metaverse!!

Yes, it’s not an imaginary or even a distant concept. It’s a reality and it's happening right here, right now.

People the world over are taking a keen interest in Metaverse Land and Real Estate. Enterprises from celebrities to ordinary citizens are investing in land and property in the Metaverse.

Consider this:

• The Metaverse property market sales crossed $500 mn in 2021 and if projections are realized, it will most likely touch $ 1 Bn by the end of 2022.
• Moreover, reports also project the growth to reach $ 5.37bn by 2026.
• Decentraland, a popular real estate platform has sold plots of land for as much as $1 million.
• Moreover, Decentraland has a current subscriber base of 80000 monthly users.
• These numbers are rising by the day. Clearly, this is indicative of the growing interest in this emerging sector.

The Basics of Metaverse Land Investment

Property, Land, and Real Estate have always been much-sought sectors. Land rates run into millions in any prominent city of the world. Moreover, more than a basic need or a financial investment, owning land has a social and emotional connotation to it. The idea of owning land, a house, or an apartment has great aspirational value for humans. It translates into a symbol of their power and prestige.

• Basically, metaverse real estate is land areas that exist the in the virtual world. 
• These can be bought, rented, or sold. The transactions are converted into NFTs. Virtual Land is purchased with cryptocurrency.
• This makes them recordable on the blockchain. Each land area is exclusive.
• Generally, metaverse land can be used for all purposes like commercial spaces, meeting spaces, networking, socializing, playing, etc.

Also Read: Metaverse Learning

Why the Interest in Metaverse Land? 

The Metaverse has already seen success in major segments like gaming, education, and entertainment. Many businesses and well-known celebrities are gravitating towards making Metaverse land investments.

With Gartner predicting that by 2026, more than 25% of people will spend 60 minutes per day visiting the Metaverse, how can businesses miss out on engaging with these potential visitors?

The lines between the virtual and physical worlds are seamlessly blending in.  It will dictate how content is consumed and how business and social interactions are played out.  Let’s take a peek at some of the established brands and their initiatives in the metaverse.

• Disney Plus announced its  "theme park metaverse" project. It aims to bring the physical and virtual worlds to converge and offer a superlative immersive metaverse experience. Moreover, they have partnered with VeVe for their Golden Moments NFT collection.
• Coca-Cola is another popular brand expanding its presence in the Metaverse. As a matter of fact, its NFT collected $575K at auction in 2021.
• Edverse- is the world’s first education Metaverse. An immersive and interactive knowledge ecosystem promoting new-age learning.

Opportunities for All

From owners to creators, enterprises to individuals, there is an opportunity for all. Owners can even rent out their lands. Creators are in a unique position to monetise the content of their property.

In 2021, Nasdaq covered a piece on Second Life. Second Life handed out over $ 80 mn cash outs to creators in their community.

Similarly, Edverse is a platform that brings together Learners Educators, Creators, and Promoters into the world’s largest educational metaverse. Here, creators can monetize their creations as Ed – NFTs. Similarly, Promoters can own and lease land in the Edverse that caters to new age infrastructure for educational purposes.

How to Buy Land in Metaverse?

In order to buy land in metaverse, buyers can sign up with a platform dealing in Meta spaces. They can go through all the listings and identify the desired ones. Buyers also need to set up a digital wallet with crypto funds to transact.

Lets go through the process in a few simple steps. 

Sign up on a  Real Estate Metaverse Platform

To purchase land in metaverse, you would have to sign up and create an account with a reputed virtual platform. You need to sign up and create an account.  There are quite a few but the trending platforms include Sandbox and Decentraland. Backed by a good reputation and robust infrastructure, they boast of an impressive list of celebrity clients and an admirable market share. 

However, in case, you are interested in the educational metaverse ecosystem, educational purposes, then Edverse is definitely the platform to choose. 

• Apart from the new properties, there is a property reseller market as well.
• Platforms such as opensea.io and nonfungible.com list properties which are up for resales. 
• Browse the listed properties
• As you would do in any ecommerce site, here too you can go through all the listed properties and target your preferred ones. 

Set up and Link Your Wallet 

For transactions in metaverse real estate, you require a digital wallet with crypto currency. Metamask, Binance are top of the mind recalls. Make sure to verify whether your platform specifies the use of any particular cryptocurrency. You can link your wallet to the platform and have funds ready in it. 

Close the Deal

Once all the formalities of signing up, choosing your property and wallet linking is done, it’s time to close the purchase. Once you click the buy button and the transaction is completed, you become a proud owner of an exclusive property in the Metaverse. Since it is transferred as NFTs, you can easily verify ownership on the blockchain used.

Is it Prudent to Invest in Metaverse Land?

That’s a valid question most people would ask.  Currently, many people do not fully grasp the concept or are able to understand the possibilities in the near future. However, this is not an isolated case and commonly happens with every new technology.  Because, after the technology becomes an integral part of people’s lives, we often wonder how we lived before its advent.

In spite of all the ambiguity surrounding it, this is a sector that is witnessing a lot of interest accompanied with investments. This is evident from the market outlook reports.

Market Reports estimate a growth of 47.6% from 2022-2029, which means it will be a $1,527.55 billion by 2029 from $100.27 billion in 2022

Closing Thoughts

The Metaverse will allow 3D interactions in a virtual space. The emerging technologies of Artificial Intelligence, Augmented Reality and Virtual Reality will drive the new iteration of the Internet.  They are providing much value and have brought in many benefits to sectors like Healthcare and Education. Many businesses as well consider them as crucial enablers in their digital transformation upgrades. They are useful technologies and expanding rapidly. 

It’s advisable to educate yourself about the potentials as well as drawbacks of owning land in the Metaverse. Holding a prominent space in the Metaverse could spell the future success for your business. It is but a matter of time.

Make it count!

At Edverse, we encourage you to make data driven business decisions. As the first and largest educational metaverse, Edverse offers unique opportunities to buy land in metaverse, specifically in centers of learning to promote decentralized education.