Real Estate Sales in Metaverse are at an Astonishing Level
Buying land on the metaverse, which tries to bring the physical world to the virtual world, has become fashionable nowadays. It is obvious that metaverse plots, whose land values compete with physical plots, will increase in value in the future.
The fact that Facebook changed its name to meta has helped people use the word metaverse more and somehow bring it into their lives.
However, while platforms are generally seen to create a reconstructed universe without being based on the real world, some platforms develop a universe based on the real world and purchase land and metaverse parcels.
To give an example, a company named Atari SA paid $4.3 million for a 24*24 metaverse parcel within the metaverse application called Sandbox. Another example is Metaverse Group purchased a plot of land for $2.43 million through the Decentraland application.
What Is the Use of Buying Land in MetaVerse?
Of course, if we compare it with other physical land purchases, it is aimed to build income-generating structures such as concerts, shopping centers, hotels that can be built in the metaverse world, even if it is not a tangible thing, and to bring high income and earn income when the metaverse world starts to attract visitors.
How Is The Land Price Determined?
Currently, it is known that the only criterion that can evaluate the price in real terms is the investment value. If it is made for the person, institution or organization whose value is to be calculated, a price is determined based on his/her situation, risk perception and expectations. However, there will be other factors that will affect these pricing in the future.
How Is Payment Made?
The land purchase is usually provided with a crypto currency determined by the application, but can also be paid with NFT depending on the situation.
Which Brands Are Buying Land in Metaverse?
It is known that brands such as Nike, Pepsi, Balenciaga, Samsung, Wallmart, Zara, H&M, Mercedes Benz, Coca&Cola, Adidas, Gucci, BMW, Google will start to open their own stores in the metaverse.
Questions answered by the blog:
- What Are the Examples of Land Purchase in the Metaverse?
- What is the Use of Buying Land in Metaverse?
- How Is The Land Price Determined?
- How is Payment Made?
- Which Brands Are Buying Land in Metaverse?