Investors buy virtual properties - Metaverse life

Investors buy virtual properties - Metaverse life

Photo Credits: DepositPhotos

Notice: This article is for informational and educational purposes only, and you should not take it as financial advice.

The Metaverse of the Meta company (Facebook) did not invent anything new, also various metaverses already exist, and investors spend huge sums of money on them. That means buying what doesn’t exist in reality, while platforms like Decentraland make millions of dollars. Decentraland is an open-source 3D platform that is actually a virtual world, and users can buy virtual plots, which are in fact NFT, supported by MANA cryptocurrency. The fictional world has been evolving since 2015, and when it was launched in 2017, the “properties” cost only $ 20 (one MANA token was worth $ 0.002 at the time).

There were 90,601 plots on the first Decentraland map called Genesis City, so the company earned $ 26 million in 2017. In April 2021, when NFT began to become popular, the plots cost from six to one hundred thousand dollars. This proves that the virtual world can be lucrative, but many believe that it is a financial bubble that will one day explode.

The concept in which large sums of money are given for properties that do not exist is still new, so it is not easy to understand. Since the beginning of 2022, these plots have become increasingly popular, so some investors are paying millions of dollars for fake land, hoping to develop it into something that will bring them more money than they spent.

The company Meta “added oil to the fire”, after announcing a VR world that will focus on social relations. There are other metaverses - Republic Realm has spent $ 4.3 million on a piece of land in the Atari-made metabox, Sandari.

Experts warn not to invest in metaverse, unless the investor is ready to lose that money. However, those who do not take risks do not profit. Who knows, maybe we’ll move into houses that don’t exist soon.

we are getting closer to life in metaverse, we can already buy art for our virtual house. Maybe soon everything for our virtual property. The question is whether the property will need maintenance, then it will become a game, or it will be ‘static’ ...

It is not realistic that the prices of virtual property reach the prices of real property, but what is still realistic today. Virtual art and virtual diamonds cost the same as in reality...

Will we ever have a real need for virtual assets and diamonds? Do we live more in the virtual world every day? During the day, most people certainly spend at least 10 hours with technology. Blockchain is on the rise, has the highest growth of all currencies and is an increasingly sought-after virtual world.