Technology

I just spent $14,000 on VIRTUAL land in the Decentraland metaverse – and I have no regrets

A GUNG-HO investor claims to have dumped thousands of dollars on a piece of VIRTUAL land.

Writing for Singapore website Stacked Houses Last month, the cash-flushed risk-taker explained his reasons for apparently dropping $14,000 on metaverse real estate.

People are making big bucks from Metaverse real estate, but they're taking huge financial risks to do it

1

People are making big bucks from Metaverse real estate, but they’re taking huge financial risks to do it

The author, known only as Cheryl, believes investing in Metaverse real estate has advantages over real-world real estate — although it comes with its own set of risks.

The Metaverse is a loosely defined virtual realm composed of connected 3D virtual worlds in which people can work, play, or conduct business.

Visitors to the Social Spaces can purchase goods and services such as B. Buying real estate, similar to buying in the real world.

And while that mostly comes in the form of a few square feet of space that fetches a small fee, prices can run into the hundreds of thousands.

Massive Metaverse real estate fetches high prices as investors buy up land on which to build virtual casinos, malls, homes and more.

They are traded in cryptocurrencies and owned by NFTs. Similar to real estate, owners invest in the hope that they will be worth more in the future.

However, just like their real-world counterparts, the value of properties may go up or down. They are considered a risky investment.

Cheryl wrote, “For me, digital real estate and the metaverse will play an important role in how people communicate, do business, and interact.

“As such, buying digital real estate in the metaverse is like owning your share of the next wave of technology, commercialization and social connection.

“It’s pretty much like buying property in a country. Only this country is a digital country and people don’t really live in it.”

The mystery investor claims to have spent SGD19,000 (US$14,000) on a plot of land in the Decentraland metaverse.

They hope to rent it to companies in the future or place advertisements on it to make some money on the side.

After walking readers through the process of buying their own Decentraland property, the investor offered a word of warning.

“I must remind you to ensure the authenticity of your purchase – scammers are everywhere so beware.”

As with any investment, there is a risk that it will lose value.

It may have experienced a boom of sorts, but after months of rising prices, real estate prices seem to be metaverse take a fall.

According to analytics firm Meta Metrics, the median price of Metaverse homes fell 18 percent in March.

That’s in stark contrast to the previous six months, when prices rose ninefold. January sales exceeded $85 million.

However, despite the decline, the outlook for investors remains rosy.

Property prices in March were still four times higher than a year earlier, when properties averaged $2,131.

The outlier is unlikely to slow sales as interest in the industry grows.

Virtual real estate sales topped $500 million last year and could double this year, according to analysts and investors.

Brooklyn and Nicola are driving the £500,000 Jag when the first official wedding pictures emerge
Huge queues as eco-mobs leave

So far, Metaverse real estate sales have focused on the “Big Four” – Sandbox, Decentraland, Cryptovoxels and Somnium.

It’s likely that other sales booms will flood the industry in the future as new metaverses become flavor of the week.

  • Read the latest phone and gadget news
  • Stay up to date on Apple stories
  • Get the latest on Facebook, WhatsApp and Instagram

The best tips and hacks for phones and gadgets

Looking for tips and hacks for your phone? Want to find these secret features in social media apps? We’ve got you covered…


We pay for your stories! Do you have a story for The Sun Online Tech & Science Team? Email us at tech@the-sun.co.uk


https://www.thesun.ie/tech/8638735/i-spent-19k-virtual-land-decentraland-metaverse/ I just spent $14,000 on VIRTUAL land in the Decentraland metaverse – and I have no regrets

Fry Electronics Team

Fry Electronics.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@fry-electronics.com. The content will be deleted within 24 hours.

Related Articles

Back to top button