- Metaverse
- April 8, 2022
Virtual Land in the Metaverse Is Selling for Millions of Dollars

We are in the midst of what people are calling, the great transition age of technology. Meaning to say that it is a time where many technologies are being tried out in the marketplace. Likewise, whatever sticks, will make it to the next decades of growth. Web3 is the third, and decentralized, future of the internet. Users will own assets and data across blockchains. We will work, create and collaborate with each other. The foundations for this digital economy, begins with virtual land. Hence, land, as the base of the industrial revolution, is set to play itself as virtual land in the metaverse.
What is the big deal with virtual land? Imagine a future, where there is an alternate reality layered on top of the physical one. Accessible to us with our internet enabled devices. Now you must be thinking, wait what? Why is any of this virtual land stuff even happening? Why do we even need virtual land? Don’t we have land already in the physical world? Yes, we do. But, there are limits to growth in the real, physical world. The internet and the digital medium have taken over as the dominant forms of value creation. The future is about migrating to the virtual land in the Metaverse.
Today’s post explains some key facts about this trend. But before that, let’s understand what virtual land in the metaverse means.
What is the Metaverse?
The Metaverse is a digital representation of our reality that’s layered on top of the real world. It is a digital realm led by 3D dominant Virtual Reality technologies. They are on the verge of becoming commercial and available to millions of people in the world. But, the Metaverse represents a journey more than anything else. We need faster internet speeds led by 5G and beyond. We will need blockchains to take over as the default database of all applications. Likewise, we need drastic improvements in hardware and software. These power all the applications people will build on top of it.
Also Read: The Metaverse: What It Is, Where to Find it, Who Will Build It
After all this, comes the part where we actually do things in the Metaverse using virtual land. Which is to say, we’ll use virtual land and other assets in the Metaverse to earn, live, play and socialize. We’re far from this vision at the present. Yet, the technologies to make this reality possible exists. Billions of dollar rest on Metaverse and Web3 technologies.
What is Virtual Land?
To understand virtual land, we need to understand NFTs or non-fungible tokens. Non-fungible tokens or NFTs are digital files that live on the blockchain. Likewise, virtual land in the metaverse exists as NFTs whose ownership is provable. The blockchain maintains ownership records and financial transactions forever. Meaning to say, forever. Likewise, each parcel of virtual land in the metaverse exists as an NFT. Its ownership is unique and provable from time to time. Hence, this eliminates all possibilities of fraud that exists in the physical world. Land ownership records get tampered and forged by malicious actors.
Hence, think of virtual land as NFTs which occupy space in decentralized applications. Likewise, people can own land, monetize them and do whatever they want on top of it. Virtual land in the metaverse marks the beginning of the metaversal economy.
Why is Virtual Land selling for Millions of Dollars?
This is a remarkable phenomenon. Imagine someone remarking about virtual land and metaverse before 2020. No one would have believed it. Virtual land in the Metaverse? Why bother when people have real land in the real world? There are many reasons why we’re seeing the rise of a new digital economy. It is exactly the same reason as the one we’re taught in mainstream economics. Hence, the laws of supply and demand. Let’s explore ahead in the sections, why virtual land in the metaverse is selling for millions of dollars.
More People Online Means More Things To Do Online
Experts are saying that the value of our digital life is much greater than the one in real life. There is a simple reason for this. It’s because we want to do everything we want as fast as possible, at the click of a button. Software is eating the world. People prefer the internet when it comes to deciding what to study, who to meet, what to eat, where to go and so on. Popular and most visited online spaces will become their own economy. The rush to buy virtual land is a bet on the future value of these spaces. More people will get interested in doing things online as time goes by. Not everyone can afford to build new virtual land from scratch like the real world. Hence we’ll prefer to rent or buy existing virtual land.
The Frontier of a New Economy
People get attracted by Metaverse to remove barriers to participation, like physical location. Hence, there are more opportunities than ever. There are concerts, shows, events, communities, advertising and retail stores in the Metaverse. Wouldn’t you feel like becoming part of a system that transcends physical boundaries? A system that puts you in touch with people who are like you? Likewise, imagine buying a plot of land ten years in a suburb of a still growing city. This is the same scenario in the Metaverse, the difference being that there is no physical barrier. Hence, the gains are likely to be bigger in less amount of time relative to physical land.
The Value Creation Machine
The blockchain enables us to know the exact value of every asset that we create for the metaverse. It can track ownership and real-time supply and demand factors. Likewise, the value of virtual land in the metaverse depends upon the way virtual land gets used. For instance, is it an advertising billboard for a brand? Is it a sports training academy where users bring their virtual players? Or is it like a community gathering space, where people like to hang out and talk about issues they care about? Hence, there are many ways to monetize virtual land.
Conclusion
The premise of virtual land as an investment opportunity is full of risk at the moment. Hence, in times of extreme volatility, we witness wild swings in prices that people are willing to pay for. Growth in the real world is sluggish. Many nations are trying the best to revitalize their economies. For instance, people, products, services and capital migrate from old technologies to new technologies. This migration leaves a trail of disruption in its wake. There will be winners and there will be losers, like every gold rush we’re witness in history. Come early enough, stay long and everyone can win.
NFTICALLY is a venture that helps brands, creators and enterprises to create and launch their own NFT marketplaces.
Related Posts

The Metaverse: What It Is, Where to Find it, Who Will Build It
All About Metaverse The Metaverse is the hypothesized next iteration of the internet? Or the day when you created your first Facebook account? Wasn’t the experience joyful, happy? All of your questions addressed with a few…
- March 7, 2023

NFTs On Instagram: A Step-by-Step Guide to Create and Sell
NFTs are revolutionizing the way we think about ownership and value of digital assets, bringing together artists, collectors, gamers, and entrepreneurs alike. From virtual art collections to representing virtual lands in the Metaverse, non-fungible tokens…
- January 16, 2023
Recent Posts
- NFT Trends to Shape 2024: A Deep Dive into the Future of Digital Assets
- The Gaming Revolution: NFTs Level Up the Player Experience
- NFTs and Intellectual Property Rights: Navigating Legal and Ethical Challenges
- Unveiling the Role of Stablecoins in NFT Transactions: Exploring the Why and How
- Top 5 Ways in Which NFTs Are Revolutionizing the Future of Digital Assets
Recent Comments
Archives
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
Categories
- $ECOM
- 3D NFTs
- AI Characters
- Airdrpos
- Bitcoin
- Blockchain
- Blockchain Technology
- Buy NFTs
- Buying
- Crypto Collectibles
- Crypto Wallet
- Cryptocurrency
- Cryto Mining
- Digital Art
- Digital Assets
- Ethereum
- FAQs
- Features
- Generative Art Nfts
- ICO
- Invest in NFT
- Learn
- Metavatars
- Metaverse
- Minting
- NFT
- NFT 2.0
- NFT Art
- NFT Art Finance
- Nft auction
- NFT Communities
- NFT Crypto
- NFT crypto art
- NFT Drops
- NFT Games
- NFT gaming
- NFT Marketplace
- NFT Memes
- nft project
- NFT Royalties
- NFT Staking
- nft stocks
- NFT Store
- NFT Taxes
- NFT Trading Cards
- NFT Wallet
- NFTICALLY
- NFTs
- Non fungible tokens
- Non Fungile Tokens
- Ordinal NFTs
- Physical Assets
- Press Release
- Selling
- Solution
- Stablecoins
- Store
- Tensor Nfts
- Top Cryptocurrencies
- Uncategorized
- Web 2.0
- Web 3.0
- white label nft marketplace