Insights

Metaverse Real Estate is Set to Take Off in 2022

In 2022, the metaverse will likely be one of THE stories to watch if you’re interested in the crypto space. The ownership of virtual land is now something that’s a real proposition for those looking to make a solid commitment to this digital space, with those who own digital assets looking to expand their holdings and diversify their positions in a way that’s beneficial to their growth. As a leading entity in the cryptocurrency market, the team here at BCB Group is always keeping tabs on any movement when it comes to the metaverse and the digital real estate industry that is forming within it while keeping you updated with accurate, insightful information about the things that intrigue you most.

One of the most contested points when it comes to the validity of the metaverse is that none of what happens there is tangible or transferable to real life, which means you’re spending real wealth to gain land and real estate that does not physically exist and cannot be used by your physical person. Of course, there is far more to think about than just this – you need to be aware of the use cases that these plots of land may come to have after the virtual real estate boom, and how the price of the relevant cryptocurrencies to these metaverses may begin to be impacted once this happens. If you’d like to learn more about this virtual space, real estate prices, and the potential advertising space that may exist within, be sure to keep on reading below!

How do you enter the metaverse?

Before we dive into the depths of virtual plots of land, we’re first going to take a look at the metaverse itself; whilst many are becoming vaguely familiar with the term, on the whole, there are still major gaps in knowledge that need to be filled in order to feel confident utilising and investing in the metaverse as a platform. If you’re new to the metaverse, the first thing you’re probably thinking is “how do I access the metaverse?” – it’s a great question and one that has a few different answers that you can use.

In general, there are 5 major platforms in the metaverse that are seen as the entry points to the metaverse, and these combine to offer over 250,000 parcels of land in total – this makes up the majority of the currently available metaverse space where virtual properties can exist. Each metaverse platform has a finite amount of land, which means there is a limit on the amount of the actual metaverse that can be bought – this is where fluctuating metaverse land prices can occur, with prices rising as the demand for metaverse properties rises and the number of land parcels available decreases. To enter any of these metaverse platforms, you’ll need to go through their dedicated websites, which can be found here:

 

Once you land on their website, you’ll find direct routes to sign up, verify, and enter the metaverse platform – from there, the possibilities are endless

Why would you need virtual real estate in the metaverse?

The ideas of real-world real estate and digital property are not too dissimilar on a basic level; it’s another asset class that you are able to add to your portfolio, increasing the amount of wealth and value that an individual or entity holds whilst also diversifying that wealth across more platforms to build a stronger catalogue. Where the two areas do differ is that with a digital platform, you face far less restriction – you can do whatever you wish with your plot of land and can form your own 3D space from the comfort of your sofa.

Of course, there are also corporate financial benefits associated with a metaverse presence, with things like digital artwork, digital land for advertising, and real estate investment all now a genuine route to increase wealth in the crypto markets. As we’ve already seen, prime advertising space in the metaverse has already been selling for thousands of dollars worth of cryptocurrency, but this space may have the potential to result in millions of dollars worth of exposure over the next decade as the fully-fledged metaverse comes into existence. To date, we’re already seen a number of huge businesses making an early investment into the metaverse, including Warner Music Group, Epic Games, and Adidas to name just a few! In addition to this, there have also been many notable celebrities looking to invest in virtual land too, with Mark Zuckerberg of social network fame with Facebook (now Meta) and even Snoop Dogg looking to get in on the ground floor of this monumental project.

Real estate companies in the metaverse are now a real thing, with real estate developers offering homes, or mansions to be more accurate, to those looking to own a private abode in the metaverse. Whilst the idea of the metaverse had first been touted in Neal Stephenson’s 1992 science fiction novel Snow Crash, it’s surprising to see that the concept of a home in a virtual realm is already a possibility just 30 years later, but the credit for this aggressive technological growth has to be given to those who have tirelessly worked to make it a reality. From the initial coin offering of Bitcoin to where we currently find ourselves, in a universe of virtual worlds, smart contracts, and real estate NFTs, the thought of the humble dollar seems a million light-years behind, which could be a precursor for things to come.

To stay up to date with the latest cryptocurrency news, head over to our BCB Insights page today!

  • crypto banking partner
  • crypto banking services
  • crypto friendly banking
  • crypto friendly banking services
  • institutional crypto adoption
  • institutional crypto banking
  • institutional crypto interest
  • institutional crypto markets

This site uses cookies

We use cookies to improve user experience and analyse website traffic. By clicking “Accept“, you agree to our website’s cookie use as described in our Cookie Policy

Accept