The constant evolution of the Metaverse has allowed many businesses to establish their foundations in the virtual world. Real estate is one of those sectors that has seen a rapid evolution, thanks to 3D designers and the many users that buy and build inside these lands.
Many companies have stepped into this business, spending huge loads of money to profit from virtual 3D meta houses and cities. This can entirely change how the economy and business of the Metaverse work, leading to many changes in society.
Why is Everyone Investing in Real Estate on the Metaverse?
The opportunity to live a real and a virtual life simultaneously opened the gates for many businesses to develop new ways of profiting. These spaces allow users to socialize, play, learn and even live a new life without leaving their houses.
Many celebrities known all around the world have started to invest in land in the Metaverse to build their 3D houses. In addition, companies like HSBC, PwC, JP Morgan, and Samsung also stepped in, intending to develop this market.
This creates a kind of “fever” where more and more people wants to step into metaverse real estate and housing, making it more profitable and attractive to even more people and companies. Of course that this, combined with a carefully thought-out plan, could become a very successful business model.
How to Acquire Metaverse Land?
Users must pay with cryptocurrency to acquire a piece of land in the Metaverse to build a meta house. The most popular choices are Ethereum, SAND (for those who invest in The Sandbox), and MANA (related to Decentraland).
The Sandbox and Decentraland became two of the most famous services in real estate and meta house building due to their absence of limits for building. In addition, the buyer can be done directly through these platforms, where sales and owners are all recorded through NFTs.
Is Buying Land Safe?
Since huge transfers of money are used for these buys, it’s common for users to ask themselves if buying real estate is safe. Of course, it is a risky investment, but users can hugely profit or lose money in certain cases like any other.
The market is not regulated, but this doesn’t mean you’ll be a scam victim; just make sure you know where you’re buying or investing. Besides, it is very secure since everything is secured in blockchains with smart contracts that are safely encrypted. So there’s no risk of getting any data stolen.
The Future of Metaverse House Building
Many companies are looking for the long-term, meaning that everything that happens will depend on the Metaverse itself and how it develops. However, some businesses are already looking into undertakings that can change or fasten the pace. These are some of the most promising projects for the meta houses:
A Promising LG-Unity Deal
Some big companies are making Metaverse real estate one of their big investments. This is the case for LG Electronics, which has partnered with one of the most important 3D designer software of the Metaverse, Unity.
This agreement aims to develop meta houses and virtual avatars for each person. The goal is for users to create a highly accurate “digital twin” of their own living space, allowing them to spend time in a dynamic, virtual version of their home.
The intriguing move here is that all LG products installed in the user’s real home can be found inside their meta home. This will make it desirable to have LG products in the real world to get more in the Metaverse.
Something that anyone that has a product to sell in the real world can take advantage of. Just imagine you can have a marketing campaign like this, offering an NFT version of the same product your clients physically bought.
What’s more, any adjustments the user makes to their LG devices’ settings within the digital environment will be reflected in the real world. This will truly provide an innovative control method and a new customer experience.
Technologies such as these open the doors to a whole new way to promote and market the products of any brand. While it also opens the opportunity to a new kind of business within the Metaverse real estate, interactive houses, or product shops.
Decentraland’s Example of Real Estate
Last year, a 116-parcel plot was sold in Decentraland (one of the most famous Metaverse games) for €2,49 million worth of cryptocurrency. With more than $514 million earned last year, it is expected that it will reach $1 billion before 2022 ends.
This data is extremely important because it tells how the markets shape this business. For example, the first Decentraland plot was sold for $20; today, the cheapest is around $3000. This has greatly benefited real estate agents.
But this is not only tied to business companies: the United Arab Emirates held a two-day Metaverse Assembly last year with more than 300 experts to discuss new opportunities in these spaces. As a result, it’s expected that this project can provide more than 40.000 new job positions and add more than $4 million in income.
Tokens.com Millionaire Investments
During the last year, the company focused on NFTs and Metaverse real estate named Tokens.com acquired 50% of the Metaverse Group. This became one of the most important and biggest investments for virtual real estate, reaching almost $2 million.
Since then, Tokens.com has broken digital grounds within Decentraland, owning a lot of lands and becoming one of the essential landlords of the platform. This set the foundations for many companies to settle, such as Louis Vuitton, Gucci, Burberry, and many other brands.
How Boson Merged Real and Virtual Worlds
There’s a point where the Metaverse and the real world connect. So, for example, people can buy products in the Metaverse and get them in the physical world.
To do so, the merchants will display their products in the Metaverse, just like a normal store, but virtual. The user will be able to view, interact and pay for these products, and then the physical products will be sent to their home with an NFT version for their meta house.
This is when real estate plays its role, as it will house these stores, driving an enormous transformation. For example, in June of 2022, Boson bought an entire block of the Vegas district in the Decentraland gambling district, becoming a commerce point where real-world products can be traded.
This could be used to great advantage by anyone who sells physical products; by offering an NFT digital twin of your product, your sales could soar. Selling in the Metaverse wouldn’t be so different from the real world; however, you may need an NFT marketing group of experts to market your products.
What is Expected to Happen?
Big and influential companies like Meta, Microsoft, and Nvidia are growing non-stop, turning into the next-gen of the Internet and, consequently, of the Metaverse. In around 20 years, it’s expected that the Metaverse will be an essential business and part of society.
Real estate, meta houses, and any virtual activity are becoming exciting and useful assets for making money, allowing for developing new products and services. It also provides the chance to build audiences for brands by being more immersive than current web and social media platforms.
It wouldn’t be crazy if you want to invest in land or build meta houses to sell them later when the market skyrockets. But, on the contrary, it would be smart to do so and to have a plan for marketing your meta real estate business to build your brand.
Conclusion
Meta houses real estate is one of the most promising businesses in the Metaverse, with much money being transferred daily. Many companies are also planning their moves not to miss this opportunity.
Companies like LG, Meta, and Unity are creating amazing projects that will entirely revolutionize how we see the Internet and, consequently, the Metaverse. So if you want to take a portion of this cake, you should make your movement now, whether buying virtual land or building your own meta houses.
