People are rushing to buy metaverse real estate as the sale of non-fungible tokens as virtual real estate or land in the metaverse is gaining popularity and
Although these properties are not physically accessible, the attractiveness of this investment resides in the fact that they are backed by forgery-proof certificates recorded on the blockchain.
This trend has picked the interest of individuals looking for innovative ways to invest in real estate. People are willing to spend thousands of dollars on them in the hopes of making a fortune. In the next 16 months, they predict triple-digit growth.
Virtual real estate isn’t a brand-new idea. Metaverse Group, which runs the virtual ‘Decentraland’ platform, was one of the first to enter the space. However, since Facebook changed its name to Meta, the concept has sparked a lot of attention, with investors speculating on the impact on numerous metaverse games and associated crypto assets.
Properties are particularly popular in the NFT-based worlds of Axie Infinity, Decentraland, and The Sandbox. These projects’ corresponding cryptocurrency prices have soared as well, with Decentraland’s MANA token up 4,258 percent in the previous year. Google search volumes for these terms have increased dramatically in a short period of time, indicating that public interest has only recently piqued.
Metaverse lookups Google Trends is searched by Metaverse.
According to DappRadar, virtual land sales exploded at the beginning of December, bringing in over $105 million for only four metaverse developments. Sandbox, a gaming platform, took first place with $86.56 million in NFT revenues, followed by Decentraland.
The platform you intend to investigate will influence your decision on which metaverse token to purchase. Each virtual world has its own unique token that users can use to buy digital land.
To gain access to the metaverse, you will almost certainly be required to create a crypto wallet in which to store your digital assets. This allows you to use an online payment system to convert fiat money into cryptocurrency.
These tokens are available on the most popular crypto exchanges, such as Coinbase, Binance, and Gemini, which will walk you through the procedure.
Here are some of the most popular tokens for purchasing a plot of metaverse land:
- 1. Ether
YTD Returns: 401%
Market Cap: $448 billion
- 2. Axie Infinity
YTD Returns: 18,016%
Market Cap: $6.5 billion
- 3. Sandbox
YTD Returns: 16,853%
Market Cap: $5.6 billion
- 4. Decentraland
YTD Returns: 4,219%
Market Cap: $4.4 billion
- 5. Gala
YTD Returns: 28,477%
Market Cap: $3.5 billion
- 6. Enjin Coin
YTD Returns: 1,971%
Market Cap: $2.5 billion