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Have you ever heard of people buying virtual real estate in the Metaverse? If you’ve never heard of this concept it’s going to blow your mind. People are spending millions of dollars on virtual land in a virtual world so they can make virtual money. In this video I want to tell you all about it, where you can buy it, and if it’s something you start investing in.
WAIT, HOW MUCH ARE PEOPLE SPENDING?
A Canadian crypto company focused company called Metaverse Group just bought 116 pieces of land, each about 52.5 square feet, which totals 6,090 square feet. Just for context, that’s about the size of three tennis courts. That’s relatively small and they paid 618,000 mana (a cryptocurrency) which by today’s price would be worth close to $3 million. That was the record until just recently when that record was smashed by a company called Republic Realm who paid $4.3 million.
WHY WOULD YOU BUY LAND IN THE METAVERSE? ISN’T IT INFINITE AND UNLIMITED?
Not exactly. It’’s not infinite, it’s limited – like Bitcoin. Even though Bitcoin is digital, it is still scarce – same with land. According to Grayscale Trust (a group of really wealthy investors) says that the Metaverse is a trillion dollar market opportunity. That’s 1 trillion dollars in revenue per year. No company in the world makes that kind of money yet and land in the Metaverse is supposed to play a big part of that revenue. So the question is:
HOW DO YOU MAKE MONEY WITH THIS LAND?
When it comes to making money with virtual land – right now the play is to buy and flip it to someone else who wants to pay you more money. That’s the short term strategy, and sometimes that can work. But the long term strategy is hoping to get a popular piece of land in a good location – it can someday be a place where lots of people go to. Kind of like Facebook.
People that own strategic virtual land, can make money by charging fees for hosting virtual meetings, they can charge people for hosting festivals, concerts, to play video games or other live virtual events.
IS THIS A SCAM?
No. There’s a popular video game called Axie Infinity with over 360,000 players. Over 40% of people playing that game live in the Philippines and many also live in Africa. For playing this game successfully, they are rewarded – SLP – smooth love potion, with real dollar value. This is what’s known as play 2 earn. Here’s why that’s so important.
Ghana is a country in West Africa with a minimum wage of $2.05 per day. The living monthly wage there is $111.50. But get this, the average Axie Infinity player in Ghana is making anywhere between $140, to $420 a month. This is putting people out of poverty and well into the living wage spectrum. Video games like Axie Infinity are literally changing lives – especially once those games become global like Valorant, DOTA, Minecraft or League of Legends and are played on the blockchain.
The highest sale for a plot of land in Lunacia – which is land in Axie Infinity sold for 2.5 million dollars and allows players to level up their characters, mine valuable resources, and ultimately make more money with.
WHERE DO YOU BUY THIS LAND?
The first place is called Sandbox, created in 2012 which has 166,000 plots of land (limited supply) and it focuses on the creation of video games and NFTs. They partnered with Snoop Dogg, OpenSea, UbiSoft and Softbank and they and they raised $93 million in their first round of funding.
The second place is Decentraland, created in 2015 – also very heavily funded – which also has a limited 90,601 parcels of land – they just recently hosted a several day music festival with over 80 artists.
IS IT WORTH INVESTING IN LAND IN THE METAVERSE?
Watch the video to find out.
*None of this is meant to be construed as investment advice, it’s for entertainment purposes only. Links above include affiliate commission or referrals. I’m part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.