The world of the metaverse is still a very new concept today. It is therefore risky to invest in anything related to the Metaverse without doing full research. However, these risks come with some serious earning potential.
In the real world, the real estate market is of such size that it’s hard to believe. According to some reports, its value is more than 3.8 trillion. For decades, it has been one of the most stable and lucrative investments known.
What is Metaverse Real Estate Market?
There are virtual lands in the Metaverse. In addition, a piece of real estate is considered as a part of that land. Properties are generally top-notch and nothing more than pixels. But when we dig a little deeper, we see that there is a space where people can play and socialize.
You may also notice that there are programmable areas on VR platforms where users can create and sell NFTs and attend meetings. With the increasing adoption of Metaverse, the digital real estate market is expected to expand. The virtual real estate sector is expected to have a market capitalization of over 31 percent from 2022 to 2028.
There are two special factors for potential investors of the metaverse real estate market. First , virtual properties are currently in limited demand. Also, this low demand means that there is a possibility of a high return on investment in the future. Every parcel on Metaverse is completely unique, making it the perfect asset to trade or sell. Every investment has a risk. For example, interest in the Metaverse may decrease and virtual land prices may drop significantly.
Most Popular Metaverse Platforms
First, Cryptovoxels is a Minecraft-like virtual world where you can buy land and build on it using customized blocks. Cryptovoxels will cost around $5,000 per lot. Also this is just the average price, with some prices going up to $10,000. Secondly, Decentraland is a VR platform that uses the Ethereum blockchain. The oldest and most popular on the MetaverseIt is one of the platforms.
Ownership of parcels is given through LAND NFTs. Since they have very large areas, their prices vary considerably. Finally, Sandbox is currently the largest platform in the Metaverse Real Estate market, with 62 percent of the entire market. On average, a piece of land costs around $11,000. In addition, premium lots go up to $30,000, pushing the total prices up a lot.
It should be acted with the awareness that the Metaverse Real Estate market is still in its early days. In addition, the investment should be made by accepting the existence of some risks associated with such an investment. The only advice we can give to all investors who are considering stepping into this market is to do their own research in detail.
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