What is Metaverse Real Estate?

The term metaverse, first coined in 1994 and more recently widespread, refers to a virtual world that appeals to many people with a particular interest in real estate.

What Does the Term "Metaverse" Mean?

The word consists of two parts, the first part is meta, which means "beyond", and the second part "verse" is derived from "universe", and the whole means "beyond the world".

History of Virtual Worlds

"Metaverse" is not a modern term. As early as decades ago, especially in 1992, the writer Neil Stevenson used this word in his famous novel "Avalanche". The form of the game appears.

Today, the term has gained notoriety due to Facebook founder "Mark Zuckerberg" working to create a virtual world parallel to the real one, which he dubs the "Metaverse".

Technology now allows people to exist in a virtual life parallel to real life through the metaverse, and this problem is no longer limited to games, but has expanded to include the possibility of travel through digital platforms, where there are places of entertainment and places of work to do Business as well as buying and selling and more real estate are the most popular industries. All users have to do is put on a virtual reality headset or log in from their phone and design their character to immerse themselves in the world.

Metaverse Properties

Metaverse real estate is in high demand, so it is just as important as the real estate industry in the real world. Big corporations and many people are scrambling to invest and buy properties in Metaverse. Recently, real estate company Tokens.com acquired land on the Decentraland platform, estimated to be worth nearly $2.5 million, and celebrities such as American singer Snoop Dogg have also invested millions of dollars in Metaverse.

The Cost of Investing in Metaverse

The price you pay for a piece of Metaverse real estate depends on the same factors you consider when buying a piece of land in the real world, such as: B. Location, size, views, infrastructure available in the area, and future investment opportunities.

For example, a piece of land in Decentraland was bought for $453 in December 2017 and the buyer sold it for $26,000 in August 2020, you can imagine the profit made in such a short period of time!

These virtual lands are purchased by NFT technology "Non-fungible Token Technology".

Is Buying Property in the Metaverse an Adventure?

As mentioned earlier, there are many examples of people making huge profits in Metaverse by investing in Metaverse real estate, and potentially even greater profits over time, especially given the significant increase in prices, which can In the metaverse of the real estate market, there are also great opportunities for loss. The metaverse is a digital world that can become a digital ghost at any time. There is no guarantee that individuals will suffer losses!

All in all, real physical investing is the best and safest investment because it brings investors real profits that increase in value over time, and unlike investing, there is no room for risk in the real world, Invested in the world of the virtual universe.