With NFTs enabling ownership of virtual land, users can create and trade digital assets, play games, and exhibit NFTs in galleries. Learn more with us
December 23, 2021
Have you heard terms like "virtual lands," "virtual worlds" or "virtual real estate"? These environments have gained popularity since the pandemic prompted people to spend more time online, but if this is the first time you've heard them, you may be wondering what they really mean. Let’s explore these concepts together.
Real estate refers to property consisting of land and the buildings on it, as well as its natural resources such as water and trees. In other words, real estate is a term that implies physical, tangible property. On the other hand, Virtual Land is intangible and only exists in the virtual world. Just like physical land, it’s also sold in the form of plots and can be purchased using the cryptocurrency of the land in question, like MANA in Decentraland. NFT categories, such as art, collectibles, and domain names, are all leveraged in the metaverse, with ecosystems built and maintained by the crypto community. So the only essential difference is the tangibility of the two worlds. However, this doesn't mean that you can't enjoy the virtual world or that it has no value. On the contrary, nowadays, with the invention of NFTs, the game has changed dramatically, allowing for more secure and future-proof purchases. Virtual lands are becoming more valuable and cryptocurrency enthusiasts are paying real money to acquire them. NFT technology is then used to facilitate the ownership, buying, and selling of these land parcels.
Till date, there are several virtual worlds (such as Decentraland, Sandbox, and Earth2) that allow the purchase of virtual land. The most popular among such worlds is Decentraland. It’s a specific type of metaverse that uses blockchain technology where land and other items are sold in the form of Non-Fungible Tokens (NFTs), which in turn represent ownership of a digital asset in the metaverse (a bunch of interconnected virtual worlds). The average price of land in Decentraland currently stands at around $195,779.94.
As our lives become increasingly digital, the prospect of owning a piece of digital land no longer seems far-fetched. Thanks to Non-Fungible Tokens (NFTs), investors can gain a sense of ownership over intangible assets like LAND. Although, when it comes to using virtual land, many people are confused and the question is usually whether it is worth it or not. Well, the answer is YES for the following reasons:
Furthermore, the world of virtual reality allows users to be not only consumers but also creators. Users can produce their own unique creations in these virtual worlds and sell them. Virtual land plots can be bought and sold on NFT marketplaces like OpenSea. Simply register an account and link a digital wallet such as Trust Wallet or MetaMask.
As the virtual world experience is taking hold, AirNFTs is already allowing you to immerse yourself in that experience, to create and monetize your NFTs as pieces of virtual land. ‍
While the dream of owning land has always been firmly rooted in the real world, things have changed in the 21st century, where many people have purchased parcels of virtual real estate in the metaverse. If our future is going to be virtual, you’ll want to get in quick.
Start earning with virtual lands now!