The iteration of the internet has been in the news now: We now have augmented virtual reality 3D world infused in our domestic and fun issues. The metaverse aren’t thus a new term.
But from the term comes another sub-term: The Metaverse Property.
The metaverse property is simply a Non Fungible Token also known as NFT a unique blockchain mainly on the Ethereum line that represents the identity of someone’s property.
It therefore connotes that the collection of different 3D worlds with limited quantities of plots and different functionalities has a virtual real-estate.
As you have a property in the physical world, so can you have a property in the virtual world, like what about having to be proud of having scores of properties in the metaverse?
A virtual land can be bought, monetized and resold, we are hence not talking crap here, and we are basically initiating you to the 3D augmented reality of the internet iteration.
Although we do not yet have a standard, solid method of appraising the value of a virtual land in any of the existing metaverse platforms, the rules of the physical real estate still suffice, this is in addition to virtual and digital traffic best practices that would determine the value of a piece of virtual land or website.
A physical real estate firm takes note of many factors but two most essential factors are location and scarcity and this also aligns with a virtual real estate. Just like the physical property, you give the tendering human attention, you spend time with resources, such is with virtual real-estate and it’s not a surprise it’s among top Meta trends.
In a virtual real-estate, the large chunks of the real cash are taken in by the platform owners. Freelance and E-commerce platforms charge fees from the dealings of the buyers and sellers of virtual properties, with websites and social media platforms seeking to engage their users as long as possible when selling advertising space.
You may have future plans for the metaverse and hence have an investment style in purchasing a virtual land, you are in order. You may latch on established companies and wealthy individuals who have a lot of cash to throw around when developing the land, you can hence call them investors as the case may be in a physical real-estate to help you incorporate 3D environments and structures, game mechanics and other utilities that in the long run makes your property more valuable, appealing enough to grab attention for someone else to buy at a higher price than you bought it.
These Meta investors thus help you to monetize your virtual real-estate and will always maintain a brand presence by poaching real-estate clients known as players, entice them by entertaining them for as long as possible, showing ads for real work or digital products for which they will gladly pull out their crypto wallets.
Some investors may choose to buy land only with the aim of leasing it out to those who want to make use of it, something like a casino, arcade, paintball fields, galleries space in the virtual world. So far people find the use enjoyable; their time spent on these places will be worth the money.
21st century brands are already picturing the purchase of virtual lands as an act of placing their flag in the new world of augmented reality with gamers already spending a fortune on virtual goods. Fun-loving players in the metaverse do not have issues parting with a large chunk of their funds adorning their characters in different apparel, exhibiting it to friends and families in the virtual space.
With people being moved by what they see in glamorous formats, especially 3D images, and once that captures their fancy; they manifest their energy to see the end of it. Companies latch on this to not only sell virtual goods; they also advertise them as more people make use of their time online. The metaverse property and sales goes beyond the traditionally social media sales on Instagram, Facebook, and TikTok and others, it has a super interactivity.
In all these, there is a negative, and with the advantages, appears more like a poisoned chalice: if a metaverse property platform loses, all its inhabitants and players bear the brunt, no matter the level of influence. Investors are aware of this and this is why many of them do try to gather a healthily diversified portfolio, in the process keeping one foot in every train.
The metaverse real-estate offers artists, programmers, and everyone around the universe the opportunity to have high streams of incomes and build their livelihoods on this booming new world.
Like a river of attention, the world is coming to the reality of the new VR world, with the virtual age itself outperforming itself, setting unprecedented heights.
Ayoola Faseyi, an Abuja based Journalist with interest in Technology and Politics. He is a versatile writer with articles in many renowned News Journals. He is the Co-Founder of media brand, The Vent Republic.
