Metaverse: Five Virtual Land Lies And A Truth

We bust 5 common myths about virtual real estate in the metaverse
Tenor

The reason why ancient scriptures and modern sci-fi appeal to the masses, could lie in the fact that they both often describe a perfect world in their own ways. 

With no possibility of crime, sunshine on demand, and the fact that humans can be their own mental projections - no body to lug around - the metaverse seems like that perfect world. 

Naturally, It's Attracting Investors

This parallel universe with infinite possibilities is drawing all sorts of investors, from the just-curious to the deeply passionate, but where there is interest, there are myths too

Here are the top 5 lies about virtual real estate in the metaverse

🚫 First Requirement - Virtual Reality Helmet: Blame the common metaverse images on the internet for this one but no, you do not require a VR helmet/headset to access or fly around in the metaverse. In fact, the most popular virtual land platforms, Decentraland and The Sandbox can be accessed using everyday stuff: a desktop computer or a smartphone. 

🚫 It's Just A Fantasy World With No Real Use: That is lie number 2. Sample this if you want to get real. Firms like eXp Realty have given workers ways to interact in business-specific metaverse platforms like Virbela for a decade now. PricewaterhouseCoopers and Prager Metis have opened metaverse branches so they can be where their corporate clients are, and there are brands entering the metaverse each day to reach customers they couldn't in the real world. 

🚫 Virtual Land Is A Short Term Trend: Read on and decide for yourself. Second Life is probably the best example of an early metaverse platform that's still in operation with 200,000 daily active users who buy, lease, and sell metaverse real estate. It was founded in 2003, and still has 43,000 users on average logged in at any given time. And FYI, Second Life precedes YouTube. 

🚫 Investing In Virtual Land Is Like Burning Money: The top sales in Decentraland for the seven days ending January 29, 2022, included a plot of virtual land that made its former owner richer by USD425,100 (the plot was bought in 2019 for USD7,721); ordinary plots continue to bring in at least USD10,000 every single day. Virtual land is stable and appreciating - qualities long term investors admire. 

🚫 It's Just A Pyramid Scheme: Not true. Virtual land in the metaverse has all the characteristics of land in the real world. You see, real estate generally increases in value until people give up faith in the location where the property is located. This has always been the case, and it's the cause of real-world ghost towns. The probability of a ghost town in the metaverse is as high/low as one occurring in the real world. 

Somethings gotta give. . .

Virtual Land In The Metaverse Is A Cool Investment: When you start seeing the metaverse as another universe and not a video game, you will get the drift pretty easily. 

Each metaverse platform has its own economy and local culture, and investing in virtual land depends on your goals as an investor and your ultimate purpose for the property. 

It's important to research metaverse platforms carefully - just as you'd research buying a property in different localities of your city. 
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