Virtual real estate or land on the base of the metaverse is sold in the form of Non Fungible Token (NFT) and is growing in popularity. With this popularity, metaverse coin projects are also experiencing padols.
Metaverse coin projects are going crazy
You can’t physically visit these properties, but the appeal of this investment lies in the fact that these assets are backed by fraud proof certificates stored on the Blockchain. This trend is attracting the attention of those looking to invest money in new ways to invest in real estate. People are willing to spend six figures on them, betting that they can make a fortune. Some expect triple-digit growth in the next 16 months.
Virtual real estate is not really a new concept. One of the first companies to enter space was Metaverse Group, which operates the virtual ‘Decentraland’ platform. But since Facebook’s rebranding as Meta, the idea has garnered a lot of attention, with investors speculating about the on-chain effect on various types of metaverse games and related metaverse coin projects. Properties in the NFT-based worlds of Axie Infinity (AXS), Decentraland (MANA) and The Sandbox (SAND) are particularly popular, as we covered in
Kriptokoin.com news. MANA recorded an increase of 4,258% last year. Google results show that search volumes for these terms have skyrocketed in a short time, and public attention has only been fired in recent months.
According to DappRadar, virtual land sales padolled in early December and generated over $105 million in revenue for the four metaverse coin projects alone. Within this, the gaming platform Sandbox dominated NFT sales with $86.56 million, while Decentraland came in second. The decision to choose 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. Some of the most popular tokens that can be used to buy a plot on the Metaverse: Ethereum (ETH), Axie Infinity (AXS), Decentraland (MANA), The Sandbox (SAND), Gala Games (GALA), Enjin Coin (ENJ)