In the metaverse, games and real estate are inseparable! "NFT Real Estate Speculators" took the lead in seizing the Metaverse's Rodeo Avenue in Los Angeles and Fifth Avenue in New York

 

In the metaverse, games and real estate are inseparable! "NFT Real Estate Speculators" took the lead in seizing the Metaverse's Rodeo Avenue in Los Angeles and Fifth Avenue in New York

In late November 2021, Justin Bieber held a concert, but not in a stadium or arena. 

As with recent performances by singers like Ariana Grande, the Weeknd, and Travis Scott, they are all performing metaverse concerts, which The online world extends every corner of the Internet into an immersive thinking experience. 

Fans around the world can watch Bieber's 3D animated image sing songs from his smash hit album Justice. In addition to fans, many investors also watched the concert. The digital land boom has lasted only a few months, and investors are rushing to snap up performance venues, shopping malls and other real estate assets in the Metaverse. 

In order to also make a fortune in the digital space, in October 2021, Mark Zuckerberg announced that he would change the name of Facebook to Meta, and hoped to benefit by entering the digital space. According to virtual currency investor Grayscale, the value of global goods and services in the metaverse will soon reach a trillion dollars. 

Games and real estate are inseparable

The Metaverse includes multiple digital domains. Each area is like a 3D virtual city, where the 3D animated characters of the city can live, work and play. Anyone who's played popular games like Fortnite, Animal Crossing, and Roblox should know what these digital areas look like. 

In every digital domain, elements such as virtual reality, streaming video, mobile games, animated characters and artificial intelligence are used in immersive virtual experiences. 

However, investing in real estate in the Metaverse remains highly speculative, and no one can be sure whether this wave will be a megatrend or a big bubble. 

Technologists believe that within a few years, the Metaverse will develop into a stable economy that provides synchronous digital experiences that are as integrated into our lives as email and social networking are in our lives today. 

Since the Metaverse is powered by the blockchain (the essence of the blockchain is a decentralized public ledger that avoids the need for third-party manufacturers such as banks), cryptocurrencies are still circulating in the digital world. 

Anyone in the virtual world can buy or trade art, music, and even non-fungible token (NFT) real estate. Such properties are blockchain-based collectibles that are digital representations of real-world objects. NFTs are proof of property ownership and are not interchangeable. 

In recent months, the transaction volume of Metaverse commercial real estate has shown a sharp upward trend. 

In October 2021, Tokens.com, a blockchain technology company focused on NFTs and Metaverse real estate, acquired a 50% stake in Metaverse Group, a real estate company in the Metaverse, for $1.7 million. 

Metaverse Group’s corporate headquarters is located in Toronto, and its virtual headquarters is located in the “Decentraland” of the “Crypto Valley”. "Crypto Valley" is the metaverse's projection of Silicon Valley, and Decentraland also has gambling, shopping, fashion and art districts. 

“Instead of trying to create a world like Facebook, why don’t we just go in, buy land in the metaverse, and be landowners?” Andrew Kiguel, co-founder and CEO of Tokens.com ). Since its last acquisition, Tokens.com has built a digital tower in Decentraland. 

With Louis Vuitton, Gucci, Burberry, and other luxury brands already entering the metaverse through NFTs, Tokens.com executives are optimistic that their company will soon be using rental and advertising options The business generates income.

Michael Gord, co-founder of the Metaverse Group, said that for those wondering why they are investing in virtual workplaces in the Metaverse, they should look at the trends created by the pandemic. 

"As more and more people participate in Yuanyuyou, you can meet with friends in a virtual space, and even watch a concert together through the virtual space," Gothe said. "It is an inevitable trend for the Metaverse to become the world's No. 1 social network." 

Metaverse Group, which owns a real estate investment trust, plans to build a portfolio of real estate assets in Decentraland and metaverse platforms such as Somnium Space, Sandbox and Upland. 

While the internet is limitless, virtual real estate is not. For example, Decentraland has 90,000 parcels of land that are 50 feet long. Among them, 36,000 pieces of land are planned for community construction, and the remaining 54,000 pieces of land will be auctioned to users. Gold said that most investors agree that there is gold hidden in these pixelated hills. 

"Think about it, if you come to New York, where there's farmland everywhere, you can choose to buy a piece of SoHo," Gothe said. "Today, the land in SoHo in New York has no market value, and the same thing will happen in the Metaverse. staged.” 

In November 2021, Tokens.com acquired a digital property in the Decentraland fashion district for approximately $2.5 million. According to the company, the real estate deal is the largest in the history of the Metaverse. The acquired land will become a virtual business center for luxury fashion brands, like la Rodeo Drive in Los Angeles or Fifth Avenue in New York. 

Kegel expects his Metaverse portfolio to be worth up to 10 times its purchase price, and as for why, many of you who have ever dealt with brick-and-mortar real estate should know why. 

"Location, location, location," Kegel said. “A piece of land in the middle of a city that is easily accessible is worth a lot more than a piece of land of the same size in the suburbs. It’s a scarce value.” 

Many of the digital realms are cartoonish, colorful fantasy worlds, while others are the Earth-based digital applications we know and love. 

SuperWorld is an augmented reality social virtual community powered by blockchain technology and supported by NFT. It is an AR virtual world that can be mapped to anywhere in the real world. Users can collect, manage, buy and sell AR virtual There are approximately 64.8 billion pieces of land, and each piece of land is traded through NFTs. 

On this platform, even the Taj Mahal can be sold, including your childhood house of course. Users can buy land for sentimental or speculative reasons, but in any case, once they buy the NFT, they can get any commercial profits generated on the land. 

Hrish Lotlikar, co-founder and chief executive of SuperWorld, said, "You can buy the lot you like, whether it's New York's Central Park or the pyramids in Egypt, you're buying land that's covered in those places. Virtual real estate on Earth." 

As the metaverse grows deeper and deeper into our everyday understanding of the universe, a new realm has emerged that erases the gulf between the two universes: the Omniverse. 

According to Justin Banon, co-founder and CEO of Boson Protocol, the real and virtual worlds merge into a hybrid universe, where homogenization and nonhomogeneity intersect at multiple points, allowing physical products Can be sold as NFTs in the Metaverse. Properties in the Metaverse will be the vehicle for the commerce that drives this shift. 

In June 2021, Boson Protocol bought an entire block in the Las Vegas gambling district in Decentraland. The company says the space will become a commercial intersection, where real-world products can be exchanged for NFTs, while the same NFTs can serve as digital representations of physical products, as well as trade items in brick-and-mortar stores. 

"Everyone thinks we're still in the very early days and these things are going to be contemporary antiques," Bannon said. "So, it's definitely profitable to start now." 

Currently, there are only a handful of digital areas where investors can buy and sell real estate, all using their own cryptocurrencies. For example, Decentraland’s cryptocurrency is called MANA. Additionally, Decentraland also has a marketplace for people to browse NFTs, including land for sale. It's like a multiple listing service. ' said Kegel. 

Wave is a virtual entertainment company that hosts interactive concerts, and Bieber's concert was held in partnership with Wave. 

The company makes profits from virtual merchandise and brand sponsorships, which are held in neutral zones rather than digital venues. The company has yet to monetize the property, but its co-founder and chief executive Adam Arrigo said he is looking at possibilities. 

“Metaverse platforms like Decentraland and Sandbox are pioneers in certifying these parcels and storefronts,” Adam said. "In a few years, what we're going to do is become more mainstream."

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