• The metaverse is a new, connected virtual reality where people can invest, run businesses and own assets.
• Digital land in the metaverse has become popular amongst large enterprises and celebrities.
• People may buy digital land as an investment, to rent out or develop it for their own use.
What is the Metaverse?
The metaverse is a rapidly emerging connected virtual reality where people can live digital lives alongside their existence in the real world. It’s believed that this will be a place where people will work, play, socialize and learn without leaving our homes. People will be able to invest, run businesses, make money, buy and own property and assets and more besides.
Popularity of Digital Land
So-called digital land has become increasingly popular with large enterprises including Samsung, JP Morgan, HSBC and PwC investing in parcels of metaverse land to develop for a range of different purposes. Meanwhile, the earliest buyers have made big profits on their investments; plots which initially sold for just a few hundred dollars have now increased to several thousands more due to their proximity to other successful areas or celebrity homes.
Motivations For Investing
There are various reasons why someone might want to purchase digital real estate in the metaverse. Many see it as an investment opportunity with potential resale value increasing over time due to development of the area or its proximity to other desirable spots such as celebrity homes. Others may buy digital land with intentions of becoming landlords by renting out desirable parcels at a profit than holding onto them until their prices increase.
Examples Of Successful Investments
In December 2021 for example, three plots of land located adjacent Snoop Dogg’s virtual mansion in The Sandbox were sold for $1.23 million combined – showing that even small investments in digitally owned property can reap huge rewards if done right! This same principle applies when buying physical property too – those located close by landmarks or celebrities often fetch higher prices than others on the market thanks to increased desirability amongst buyers.
As we enter into this new age of themetaverse there is plenty of opportunityfor investors both big and smallto capitalize on virtual real estateholdings– whether they choose topurchase parcels as an investmentopportunityor rent them outforprofitremainsup tothe individual investor! Withtheright researchand knowledgeinvestors could find themselves making large returns from relativelysmall investments – just like many have already seen withSnoop Dogg’s TheSandbox plotofland!