Metaverse real estate is now trading in cryptocurrency

Metaverse is starting to heat up. Not hot, like a delicious meal or a Finnish sauna. This fantasy world is heating up like a real estate market. Because lately, it’s one.

If you have enough money and courage, you can now buy digital tracts in metaverse. Of course, there is no single metaverse. Just as a website is part of the World Wide Web, there are countless companies, including Meta (née Facebook), building their own site that hopes people will soon gather as their digital avatars to play, shop, and chat. and marketing. The emerging market of these three real-world venues – including everything from concert venues and venues to homes and monuments – is looking forward to a future where digital landowners can work with brands that want to be present in a variety of venues. metaverse.

One of the first companies to enter the digital business is the Metaverse Group, which operates worldwide called Decentraland. Last week, parent company Metaverse Group,, announced that “116 parcel estate in the heart of the Fashion Street district in Decentraland” sold for about $ 2.5 million – two! The new owner of the site near Fashion Street could benefit if Louis Vuitton wanted to open a store there: They could own the brand.

The Decentraland agreement did not include real money. 618,000 digital assets for sale, a type of cryptocurrency used in Decentraland. When you say it out loud, “manna” sounds like the first two syllables of “Monopoly Money.”

“Imagine if you came to New York when it was a field, and you would have had a chance to find SoHo,” said Metaverse Group co-founder Michael Gord. recently told a New York Times. “If anyone wants to buy a home in SoHo today, it is expensive, it is not in the market. The same thing will happen in difficult places.”

All of this probably sounds a little twisted. Who would pay the ultimate price for freedom in a part of the real world that has never existed and will never exist again? Well, if you have been paying attention to the NFT craze or cryptocurrency boom in recent years, a lot of people. is pouring millions of dollars into the digital economy and the hope that some may be willing to pay a higher price in the future. This gradual takeover of the land is taking place in a similar way. What makes metaverse real estate so popular is the idea that once you own a digital property, you can make money by renting or selling ads.

Users can travel to Decentraland to find stores and events. They can also buy property and build their own.

In its most basic form, the concept of a metaverse is not very different from early internet days. Beginning in the late 80s, the well-known online language (HTML) enabled people to create websites that contain content or provide services to users, and in the end, when pages are attracted to these users, owners can sell ads or pay for it. total income. The big difference, of course, is that the internet was designed to be free while the metaverse seems to belong to big companies. Before announcing that Facebook would change its name to Meta, for example, Mark Zuckerberg told the bankers that the company expects to spend more than $ 10 billion on its major operations this year alone. It is difficult for anyone to compete with such funds.

However, many companies are experimenting. In addition to Decentraland, you can purchase digital sites in metaverse with names like Dreams Place, Sandbox, and Upland. The company has a call Spotselfie, which currently uses the extension software, allows you to purchase real-time GPS coordinates in the real world via a new feature called Spotland. The idea is that by using the tokens provided by Spotselfie – these are crypto currencies that are closely related to this, similar to the manna used in Decentraland – you will buy the freedom to navigate around GPS locations, and then if Spotselfie decides to sell. ads on site, you cut. The main difference here is that the Spotselfie model is designed for real reality, not real reality. To see this change, you simply point your phone’s camera at a specific location, and the Spotland app covers the digital world on your screen, ads and everything.

This could be the future. If so mixed glass becomes an object – Some experts think Apple will release their brand in 2022 – We can be on the move and watch the big bang in real and digital world. And while many companies are insisting on saying what they want, it is still unknown who will own the site. Spotselfie co-founder Ray Shingler, for one reason, hopes that by giving users the opportunity to shop now, his expertise will bring some of the spirit of democracy, web 1.0 to met.

“I’m trying to find a way,” Shingler told Recode, “where users get something for being in the app, and they control what happens, because if you don’t fix it soon, it will be lost on Facebook, or lost to Gemini Brothers who recently received $ 400 million in providing funding for metaverse projects.)

Then again, Mark Zuckerberg could be wrong about metaverse. It is quite possible that not many people want to travel around the world, meet other avatars and buy NFT and cryptocurrency. Perhaps we do not want to live in an infinite environment filled with advertisements and designed to follow our practices in ways we have not yet considered.

But if metaverse is a 21st century online solution, you can buy your share here. Hurry, though. The market is very hot.

The article was first published in the newspaper Recode. Sign in here so don’t miss the next one!

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