The deployment of virtual cities in the Metaverse has unleashed great opportunities for businesses related to the real estate market in the Metaverse.
Like in real life, the prices of virtual parcels in the Metaverse are quoted based on their location. The reasons for buying are the same as in the traditional market: invest and wait to appreciate or build.
Businesses and Real Estate Market in the Metaverse
In the second case, the simplest thing is to build a house or room for our avatar to interact with the community and be part of the ecosystem. But we can also start a co-work-type business, build a hospital, set up a store, or countless other business options that exist in reality, as do the advertising companies that install billboards in the Metaverse and lease them to brands Or those who are dedicated to the organization of events. Then, of course, there are also casinos, law offices, art exhibitions, cryptocurrency exchanges, and fashion stores.
In the future, the real estate sector will probably implement the creation of traceability records or AML services to offer this type of asset in the traditional market with the certainty of not falling into illicit practices or money laundering.
The design of the plots can be personal, but a pre-programmed design can also be purchased in the platform’s marketplace. For example, Decentraland sells ready-made designs for use in virtual plots. Just as DIY superstores offer houses and other prefabricated objects, Decentraland offers parks, houses, meeting places, and everything you can imagine.
Products in NFT Format
Many firms offer products in NFT format, ready to dress up our avatars in the Metaverse. Even virtual pets, with their corresponding accessories. Within these marketplaces, own names, corporations, or famous brands that have been registered are also marketed to obtain a profit when said companies choose to deploy their services in the Metaverse.
In its 19 cities, there are virtual plots with returns of thousands of dollars. There are shopping malls, private islands, and other settings. Musician Snoop dog is building a mansion in The Sandbox, Adidas bought land in the sandbox, and Republic Realm invested $4.3 million in the land last year.
It is one of the platforms with the highest profitability records in its real estate developments. It has excellent options in its marketplace, financing, and constant development of new business possibilities. It is established that its market value is greater than the square meter of New York; Metaverse Group, with its real estate, closed a deal for a plot in Genesis City for 2.3 million euros.
It is a Metaverse with the presence of big brands, like Nikeland. Beyond its falls last year, it continues with various developments. Within it, a game is implemented that allows users to operate in different areas, classifying it as an educational game.
In this Metaverse, users acquire plots to create art galleries and shops. It is defined as a social and interactive world for creative people immersed in art. Its virtual land has become very popular, and it is very suitable for trading virtual assets related to art.
One of the best-known spaces in gaming is called “Play to earn.” Users use their plots for crops and achieve higher increases in the game. In addition to the plots, the state of the avatar and its path in the game are good sources of investment.
Another Platform for gaming purposes, where players need the plots to advance in the game.
Similar to Second Life, it emphasizes virtual reality and implementing interaction between users.