For the past few weeks, the discussion about the metaverse is spreading like wildfire. Many virtual investors are taking interest in the concept of buying property in a virtual space. If you are thinking you have misunderstood the idea, the answer is no. You heard it right! the metaverse can be defined as a hyperbolic interpretation of virtual social reality. It is currently rising as a virtual multi-million market to invest in real estate virtual land. If you are curious to find out how is it possible, we have got you covered.
Metaverse- Idea and Terminology
As soon as Facebook underwent a brand name change, the birth of the term “Meta” took place in the digital environment. Investors, especially tech companies, are taking a lot of interest in this new revolution. According to reports, investors are encouraging the idea of a virtual real estate land and already making million-dollar deals.
A part of metaverse is called a house. Earlier this year, an artist named Krista Kim sold a digital house as an NFT valued at 288 ether ($500,000).
Decentraland is also a metaverse that allows virtual world property trading by letting users to interact and co-create with each other.
Metaverse Investment – Good and Bad Turnouts
While metaverse may be a valuable addition to the scope of virtual trading platforms, there are possibilities of both, good and bad outcomes of selling a house.
The good outcomes can include exploring new people and investment opportunities by buying properties. They can also shop from the comfort of their homes. Users can also visit any place or event and control the weather.
On the flip side, a metaverse such as Decentraland could also be addictive like social media. With options to carefully choose your persona and lead lives as dreamed in a virtual zone, users can become distant from actual reality.
While the above mentioned information might have surprised you, lets not forget that it is a practical reality of the modern world with many multi-million dollar investors already buying properties in metaverse.