- Somnium Space is a top Metaverse platform built on the backs of top crypto platforms, Solana and Ethereum.
- Next Earth is a platform-as-a-service product offering landowners the necessary tools to develop any business.
- Real estate agencies also use Metaverse Real Estates to create an immersive virtual experience for potential buyers to witness their dream houses.
The era of Virtual reality has sent shockwaves throughout the entire industry. Numerous organizations have collaborated to pour billions of dollars into realizing the dream of the Metaverse. Its fundamental nature creates a conducive environment that allows every other element of Web3 to thrive.
Its success in providing an ecosystem with limitless potential has led to the rise of a new form of investing; Metaverse real estate. Investing in Virtual land is steadily gaining attention from mass movements. VR investments have grown since the Metaverse incorporates NFT within its basic functionality. Top metaverse platforms and users have profited from this new endeavour, and despite the current state of Crytpo and web3, it still managed to survive.
This article will focus on the top 4 Metaverse platforms offering one of the best deals when investing in virtual land. The world’s digital transformation is at hand, and soon, virtual reality will become just as valuable as the real thing.
Remember this article is not financial advice; hence we will not be held liable for any transactions a user does—we at Web3Africa.news merely highlight a practical use case of blockchain technology to enrich and empower users directly.
Why is the Metaverse such a success
The Metaverse is among the most successful applications of Web3 technology and AI. It represents a small-scale version of Web3’s ultimate goal of creating a decentralized world that empowers users directly. The Metaverse functions on all three basic functionalities of Web3 NFT, Crypto and AI.
The AI generally coordinates each feature within most Metaverse platforms. It automates most of its functionality, which may vary depending on the Metaverse platform used. Crypto serves as the primary currency that most Metaverse platform operates.
Due to a standard currency, the Metaverse is a neutral ground to accommodate anyone despite its geographical location. The NFT is a universal aspect among all Virtua Reality platforms. It gives the Metaverse its unique ability to create immutable identities, allowing users to own digital assets within any forum without worrying about fraudulent activity or theft.
In truth, this NFT application, alongside underlying smart contracts, is what makes the Metaverse such an excellent platform. With immutable digital identities, it provides a baseline security measure that most Web2 platforms have failed to accomplish. Combining all three aspects gives you a seamless platform that offers endless possibilities. Furthermore, it provides financial benefits, which lead to the article’s main agenda: investing in Virtual land.
What is Metaverse Real Estate
With NFT being one of its most applied concepts, users can own digital assets without worry of duplication. Metaverse real estate refers to land parcels, areas and buildings within virtual e environments. It contains no physical aspects, but since it is an NFT application, it can gain only one owner at a time.
It uses the basic principle of NFT artwork but at a much broader scale. Thus Metaverse Real Estate soon became a rapidly rising VR investment. Another crucial difference that this VR investment has from the real deal is that it can offer different functionalities.
Remember that there are various top metaverse e-platforms, and to stay ahead of the competition, each offers slightly different functionalities. Metaverse Real estate is not tied down to buildings or lands but encompasses several significant features. For instance, developers can categorize a workspace that provides blockchain development tools under Metaverse real estate.
At the same time, other top metaverse platforms can offer complete creative freedom for users down to the very design of the VR investments. This allows the users to develop their own VR land and go as far as changing several coding. A user’s imagination and the parameters of the Metaverse platform hosting it are the only limits of Metaverse Real estate.
Benefits of investing in Metaverse Real Estate.
Africa’s digital transformation is inevitable; it may lag behind the rest, but it will eventually come. Initially, investing in Virtual Land seemed like a hoax or a waste of money to most. Unfortunately, their limited creativity has made most investors unable to see its true potential.
First, since the Covid pandemic, most organizations have sought a more digital presence to increase their market size. Furthermore, the rapid development of blockchain technology is foreshadowing, indicating that Web2 will eventually transition towards Web3.
When this happens, the possibility of a global metaverse platform grows more significantly. Having this VR investment as early as possible secures a platform that allows organizations to advertise their products and services. Today most NFT artists have invested in Virtual land to display their NFT artwork. Other organizations have partnered with top Metaverse platforms to advertise their products, games, or cyber-related services.
Various real estate agencies also use Metaverse Real Estates to create an immersive virtual experience for potential buyers to witness their dream houses. Through VR headsets or compatible smartphones, buyers can “see” how their likely buildings, homes or offices would look.
In addition, several high-profile restaurants use these VR investments to provide virtual scenery for clients. The food Industry and the Metaverse have recently gained much attention, with restaurants using VR Headsets to immerse users in a breathtaking virtual environment that compliment their food.
Several organizations also offer Virtual tours allowing users to visit different parts of the world without moving an inch from their coaches. Germany, Croatia, Hungary, Norway, Mauritius, Iceland, Spain and Costa Rica have invested in virtual tourism with the aid of Metaverse real estate.
Through the power of these NFT applications, some top Metaverse platforms have also encouraged innovation among their users. By offering plenty of creative freedom to users, these virtual lands serve as a small ecosystem for coding and developing new blockchain projects.
Top Metaverse platforms that offer virtual land ownership.
Investing in Virtual land has gained many audiences from indiviudals and organizations. With each implementing this NFT application differently, they all serve the primary purpose of driving the global adoption of Web3. Below are some of the top Metaverse platforms offering its users affordable virtual land.
Somnium Space is a top Metaverse platform built on the backs of top crypto platforms, Solana and Ethereum. Developers designed Somnium Space to be a platform that improves the social interaction between users. The Virtual land is well-designed, having an entire economy and its currency in the form of crypto.Users can acquire their currency and invest in virtual land that offers complete creative freedom. They can build houses, buy, create scripts and monetize the world while socializing and exploring each other’s creations. The native token used in this VR investment is $CUBE, their primary digital currency.
Somnium stands out among other top metaverse platforms because it can sustain an entire ecosystem within one serve. This means that every user co-exists within the same virtual land. Their accurate depiction of real life allows users to monetize their VR investments. This means that once a user acquires a VR land, they can sell it and gain more profit.
Players use MetaMask, an Ethereum-built crypto wallet, to invest in virtual land. The procedure is relatively simple since it will require the user to transfer their crypto onto the wallet, providing a direct link to purchase the virtual land. The user then locates the plot they are interested in and clicks on the Sominum Space Marketplace link. The link will send you to the seller or the website offering it, and you can either auction or buy it instantly. Sodium offers three available sizes for virtual land:
- Small – area: 200 m2; construction limit in height: 10 m; the number of such plots: 781
- Medium – area: 600 m2; construction limit in size: 25 m; number of such plots: 2487
- Extra large – area: 1500 m2; construction limit in height: 50 m; the number of such plots: 1758
Next Earth is also another unique top Metaverse platform today. It offers metaverse real estate that is a replica of the Earth today. Next Earth is a platform-as-a-service product offering landowners the necessary tools to develop any business. As a result, users investing in virtual land can host virtual tours and experiences from any corner of the globe.
Also, Read How socially antisocial the Metaverse can be.
To ensure its metaverse real estate operations run smoothly, they have separated the virtual plates into land tiles. Each tile represents a 10mx10m square of land on our original Earth. The accuracy and sophistication of their system allow users to purchase real-world content such as; water, urban areas and non-urban areas.It categorizes tiles under two classes; Art and Land. All tiles begin as Land class tiles, which players use to build structures. If a user wishes, they could turn their VR investments into an Art class and commission an image for advertising. Unfortunately, the change is permanent, preventing them from building additional structures.
Like any other top metaverse platform, it contains its standard native token as a currency; $NXTT. Its Metaverse Real estate operations have gained many audiences due to their uncanny resemblance to reality.
Upland is among the top metaverse platforms housing one of the largest virtual real estate strategy games mapped onto the real world. Uplandme is a Silicon Valley-based company supported by Block. One developed Upland Metaverse and hosted it on the EOS blockchain.
Like most Metaverse Real estate operations, Upland allows users to become digital land owners and develop properties and shops, manufacture cars and monetize most of their operations.Like Next Earth, this top metaverse platform is mapped on the real world, and players start from San Fransico. You can purchase VR land that contains real-life addresses. Its native token is the $ UPX used for VR investments. Furthermore, so long as the players own the property, they receive a standard amount of UPX as a reward.
What makes the Upland Real Estate Project stand out is its affordable pricing. This allows users to spend as low as $7 to invest in virtual land, unlike Decenraland, which costs up to $15000 for the cheapest plot. In addition, it also offers additional perks such as property visits, referrals, treasured and a daily yield that enables a user to earn without much effort.
We highlighted the three metaverse platforms simply due to efficiency and affordability. With the current Crypto ecosystem, most top metaverse platforms have significantly increased the prices of their native tokens to maintain operations. As a result, most users have given up on VR investments, further declining the franchise.
Fortunately, these three have kept their operations while only making some adjustments to pricing. This NFT application might face some lag in 2023, but its tractory has yet to b altered. By 2028, Metaverse Real Estate might be one of the highest sought-after commodities in the digital age.