Land sells for up to several million dollars in certain metaverses, the virtual worlds that many tech entrepreneurs dream of.
You often hear about the metaverse, but this concept still eludes you? Don’t panic. BFM Immo deciphers this virtual reality and its “real estate” trends for you.
“Metaverse” comes from a contraction between “meta and universe”. The metaverse is a completely digital world in virtual reality, where avatars, brands, locations and real estate activities represent a potential financial loss, especially for companies, which invest in this parallel world to interact with users. This concept, which is still in its infancy (but which immediately contemplates Second Life, was introduced in 2003 and has since fallen into disuse), makes it possible to free oneself from physical limitations and create this world by multiplying human interaction through 3D. should do more accessible.
Recently, several financial transactions have caused a stir, including more than 2 million dollars to buy virtual land in the 3D world of Decentraland or even a shopping center from Republic Realm (a company specializing in such investments). Sandbox Metaverse is over $4.8 million.
Owner through NFTs
Users of certain metaverses can therefore purchase virtual land or buildings.
“At Metaverse, we create a cadastre in which land is owned in NFT – the blockchain then ensures the ownership and uniqueness of these digital assets – by identified individuals, brands, companies. It is also a revolution for commerce (we even wonder if we are from e-commerce won’t switch to V-Commerce) and for media”, explains Bilal El Alami, president of EquiSafe and director of Dogami, a virtual reality game that comes to raise $6 million.
An NFT (for “non-fungible token”) is a non-fungible token. It is the digital certificate associated with a single digital file (eg video, image, virtual terrain). This certificate of authenticity is verified through a blockchain (such as the Bitcoin blockchain or Ethereum). The purchase and resale of these NFTs is done through cryptocurrency.
The Decentraland platform thus makes it possible, for example, toBid, buy and trade land on NFT. “Plots” that can be resold through NFT sales platforms such as Opensea. Thus we find there, Among the recently sold virtual lands in DecentralandPlot with A offer $12,960 (or more specifically 4,500 mana, a cryptocurrency) or Still at $12,125 (or rather 3.75 Weath, another cryptocurrency). We are far from Decentraland’s record but the investment required to own a virtual good is not trivial.
Prime location for real estate
Why is virtual real estate attractive within the framework of this metaverse? Christophe Cappelli, CEO of the real estate developer, explained at the end of December, “We take advantage of location to advertise there. When consumer habits have changed, an ad in a metaverse is a bit like what you see on television”. Real) Capelli in BFM business. “All brands will build virtual stores and neighboring plots of big retailers will increase in value,” he continued. This opens up a field of possibilities for real estate professionals.
“It’s still a game,” notes Frédéric Chesnais, founder of Crypto Blockchain Industries. “It’s still a little early to talk about a revolution, but things are moving at a very fast pace… In any case, investing in the metaverse is interesting, especially for advertising,” the professional said. Said
Buying a property in the Metaverse potentially allows, somewhat like the famous Sims game, to build a virtual house and make it profitable by generating income. It could also be a question of reinvesting or reselling it to recover its stake (even to make a capital gain). But there is no guarantee of price evolution of virtual assets, which can quickly become worthless.