Virtual real estate, or land in the metaverse, sold in the form of non-fungible tokens is growing in popularity.
You cannot physically see these assets, but the appeal of this investment is that these assets are protected by tamper-proof certificates stored on the blockchain.
This trend has attracted the attention of those who want to deploy funds in new ways of investing in real estate. People are willing to spend six figures on it, betting they can make a fortune. Some predict triple-digit growth in the next 16 months.
Virtual real estate is not really a new concept. One of the first companies to enter this space was Metaverse Group, which operates the virtual platform “Decentraland”. But ever since Facebook rebranded itself as Meta, the concept has generated widespread interest, with investors speculating about the impact on various Metaverse games and their respective crypto tokens.
The NFT-based world features of Axie Infinity, Decentraland, and The Sandbox are particularly popular The prices of these projects’ associated cryptocurrencies have also skyrocketed, with Decentraland’s MANA token gaining 4,258% in the past year. Google results show that the search volume for these terms has skyrocketed in a short period of time, only gaining public interest in recent months.
According to DappRadar, virtual land sales exploded in early December, bringing in more than $105 million for just four Metaverse projects. Of this total, gaming platform Sandbox led NFT sales with $86.56 million, while Decentraland came in second.
Deciding which Metaverse token to buy depends on the platform you want to explore. Each virtual world has its own unique token that allows users to purchase digital land.
In order to access Metaverse, you will likely need to create a cryptocurrency wallet to hold your digital assets. It allows you to convert fiat money to cryptocurrency through an online payment system. These tokens can be found on most popular crypto exchanges – including Coinbase, Binance and Gemini – which take you through a simple process.
Here are some popular tokens you can use to buy plots of land on Metaverse:
1. Ethersymbol: ETHYTD Yield: 401% Market Cap: $448 Billion
2. AXI INFINITY Ticker: AXSYTD Yield: 18.016% Market Cap: $6.5 Billion
3. Sandbox Symbol: SANDYTD Yield: 16,853% Market Cap: $5.6 Billion
4. Decentraland Symbol: MANAYTD Yield: 4,219% Market Cap: $4.4 Billion
5. Galasymbol: GALAYTD Yield: 28,477% Market Cap: $3.5 Billion
6. Enjin CoinSymbol: ENJYTD Yield: 1,971% Market Cap: $2.5 Billion
Be careful and consult your financial advisor before making investment decisions. Mirror-Mag cannot be held responsible for bad investments. Before using any third party service, you should do your own research.