The rise of virtual real estate, explained | Decentraland | Sandbox | Earth2

Yup, that’s me, and you’re probably wondering why I'm showing you this? well, I want to tell you a story at the age of 10, I was able to own my first real estate yeah at the age of 10! it wasn’t a mansion in a fancy neighbourhood but i was happy with it because i built it all myself it looked something like this I’m not gonna lie to you, I used a cheat code to earn more money and get more expensive equipment and furniture but i didn't care i took care of that place like it was my own and i'm pretty sure i wasn't the only person who did that Obviously, back then I didn't think about how you can monetize this and make money and even if I did, it wasn’t possible back then fast forward 18 years and somehow, the impossible actually became possible nowadays, people are buying and selling virtual real estate online someone is actually buying a piece of land that doesn’t exist in the hope of selling it later on to make a profit to be honest with you, after discovering that this meme was sold for $600,000 I’m not surprised about anything anymore.

First question we should ask ourselves is how are they doing this? one of the most popular platforms for online trade is “Decentraland” which is a virtual world and community based on the Ethereum blockchain technology where users develop, own, and even sell plots of virtual land, artwork, and NFTs and if you look at the data, more people are starting to show interest in this platform the number of visits coming to their website increased from 320,000 visitors in January 2021 to 1.1 million visitors in April 2021 this is good news for early adaptors since the value of their land will increase with more users joining the platform it’s also quite easy to get started just create your own avatar and start exploring this virtual world and bid on any land you like as simple as that another popular platform is: The Sandbox game which is another Virtual World on the Ethereum blockchain you can also see that the number of visitors on this platform increased from 320,000 visitors in January 2021 to 880,000 visitors in April 2021 you also have which is a futuristic gaming concept for a second virtual earth allowing people to claim ownership of virtual land in the form of tile and once you do that you can actually plant your own flag, which is cool while creating this video, has over 4 million monthly visitors also, with more and more people starting to spend time and interact in these virtual worlds many would argue that this presents a great opportunity for advertisers to promote their brands like Atari who is building a Casino in Decentraland yeah…Atari has leased a piece of virtual real estate in Decentraland anyone else getting “Ready player one” vibes after hearing this? which brings me to the 2nd question we should be asking ourselves once again, why would someone buy a piece of land that doesn't exist? obviously, to make money that’s basically the motivation behind almost everything nowadays but in this scenario it’s about making that money FAST usually these are the steps you have to take to buy actual real estate on planet earth this obviously varies depending on the person now, these are the steps you have to take to buy a virtual real estate and that's it! The whole process is frictionless nowadays, we have digital arts selling for millions of dollars in the shape of NFTs we have crypto currencies and now, virtual real estate Only god knows what we’ll have next but if it’s frictionless, you can bet that many people will be willing to test it out

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