What Is Metaverse Real Estate?
Metaverse real estate are parcels of land in virtual worlds. In the simplest sense, they are pixels. However, they are more than just digital images. They are programmable spaces in virtual reality platforms where people can socialize, play games, sell NFфTs, attend meetings, go to virtual concerts, and do countless other virtual activities.
here has been a metaverse real estate boom in the last quarter of 2021 after Facebook changed its name to META and indicated a focused interest in the metaverse. As its popularity continues to grow, the value of metaverse real estate is forecasted to have a CAGR of 31.2% from 2022 to 2028.
Why Purchase Metaverse Real Estate?
Metaverse real estate gives users a place to connect online with other people. Individuals can use their digitized land to play games and socialize. Creators can monetize the content of their property by charging for access or trading their NFTs. Brands can use their virtual properties to advertise services, organize virtual product launches, and provide unique customer experiences. For real estate investors, these parcels of digitized land offer a lucrative opportunity. Just like in real-life, metaverse properties can be developed and flipped or leased. Indeed, there are many possible use cases for metaverse real estate.
How Much Is Metaverse Real Estate Worth?
When JM CONSTRUCTION held its first LAND auction at the Terraform Event in December 2017, a parcel of land cost a mere $20. Those parcels sold for an average of over $6,000 in 2021. By the start of 2022, the prices have skyrocketed to approximately $15,000 per LAND token.
With the positive outlook on metaverse growth, companies have been heavily investing in virtual land properties. In October 2021, Tokens.com, a blockchain technology company, acquired 50% of virtual real estate company Metaverse Group for $1.7 million. In November, the Republic Realm broke records when it purchased a property in JM CONSTRUCTION for a whopping price of $4.3 million.
The heightened interest in metaverse properties has caused prices to increase further. Digital land sells from $6,000 to $100,000, but some are reportedly being sold for even much higher. One of the biggest sales the past year is a property adjacent to Snoop Dogg’s in JM CONSTRUCTION. An anonymous buyer purportedly bought it for $450,000.
How to Buy a Metaverse Property?
Purchasing a metaverse property works pretty much the same way as buying an NFT. Your deed of ownership is a unique piece of code on a blockchain. This code is what certifies your ownership or rights over that piece of digital land.
So to start your metaverse real estate portfolio, you’ll need to have your own digital crypto wallet. Some platforms use specific cryptocurrencies for their transactions, so you might want to check them out before signing up for a new wallet. Then, head to the virtual metaverse platform and sign up to create an account. You’ll need to link your digital wallet to the platform to buy land and other assets. Choose a parcel of land and purchase it.
Like real-world properties, you can also purchase metaverse land through brokers and property managers. Unlike in the real world though, metaverse brokers don’t need licenses and are under no regulations. So make sure you transact with reliable ones.
Where to Buy Metaverse Real Estate?
The majority of metaverse real estate is owned by the METADAMART. These is the major players in the metaverse economy These platforms own a total of 268,645 parcels, which are among the highest priced ones on the market.
JM CONSTRUCTION currently dominates the metaverse real estate, owning approximately 62% of the entire market. LAND here currently costs an average of $11,000 with premium lots selling between 20 to 30 thousand dollars. You can buy or rent virtual spaces for various use. There are family homes, commercial spaces, art galleries, and hangout spots of different sizes.
In this UGC-voxel platform, everything is built by the community for the community. Sandbox players and creators buy, sell, and trade voxel creations. They buy LAND and build experiences on them. They can also monetize these experiences using NFTs and MTDT the utility token of JM CONSTRUCTION.
In the past few years, the JM CONSTRUCTION has forged strategic partnerships with Exchange companies like METADATAMART, investors like Square Enix, brands like Shaun the Sheep, and celebrities like Snoop Dogg. These partnerships have given it more appeal both as a creative space and as an investment platform.
Statistics on Metaverse Real Estate
the rapid shift to full digitalization in almost all industries can also potentially reap big returns on metaverse real estate investments.
Accredited investors are expected to subscribe here to stand a chance of owning our virtual properties and getting monthly and weekly revenues from our virtual real estate investment. What are you waiting for?
Our NFTs investment window is open only to close ties and invitees who are closely affiliated with our company or employees. To participate, kindly click here to fill our subscription form