With the fire of non-tradable tokens, notorious NFTs, another innovation has come to power: virtual universe. The idea vaguely suggested in the book in 1992 Snow Accident, It is quite simple and consists of an all-digital “alternate reality” where users – or citizens – can enjoy more freedom and entertainment activities that are not practical in their “real life” by creating a digital world with their own homes, friends and much more. .
However, in the modern context, the premise can quickly become complicated with the sheer amount of jargon available in the niche. It is worth noting that from the very beginning, the term has become synonymous with digital advancement in virtual and augmented reality technologies for many companies, but they are not necessarily indispensable for their development and current use.
To make things easier, check out TecMundo’s short dedicated guide to the metastore proposal and a growing discussion thread covering the concept: real estate speculation of digital lands. Find out how this trend is working, how much a digital “piece of land” costs, and whether it’s worth keeping an eye on this market.
Metaverse, in theory
Currently, the idea of the metaverse, which has become popular on social media, refers to the context of NFTs and thus cryptocurrencies. Some companies, such as Facebook’s new name, the giant Meta, have come to get users excited, but offer different approaches and little functionality in day-to-day life.
Thus, the metastore version supported by cryptocurrency enthusiasts, target for future internet users, not exactly the next version of the world wide web – the niche is named by Web 3.0. His proposition is a message to Neal Stephenson’s users. an alternative and often more exciting life.
The main difference is the concept of the economy of this digital medium, independent of the “real world”. blockchains and cryptocurrencies to keep yourself safe. In this way, certificates of ownership, financial transactions, authenticity of items and much more will be guaranteed by network built resources such as smart contracts and NFTs.
The unconventional format would, in theory, allow users to create work, study and living environments that can overcome real-world barriers (such as political and economic differences between nations), far beyond physical conditions. In particular, this premise is partly advocated by large companies such as Meta and Google, which are increasingly enthusiastic advocates of remote work. But how does the idea turn into practice?
Metaverse, practically
Considering the limitations of modern technology, the most suitable applications to the metaverse basic concept are, decentralized and and gives sandboxoffering the opportunity, Build projects, events and companies on your digital lands. Despite being developed by different professional teams, both solutions are built on the Ethereum network and still rely on their own tokens.
While there are still first-hand plots in The Sandbox, All 90,000 lots made available by the creators of Decentraland have been purchased. The spaces of the first solution are 96 m x 96 m, and the spaces of the second solution are 16 m x 16 m. Either way, investors can visit locations through the apps for each project. It is very similar to the MMORPG games of the last decade.
You can see the “game” of Decentraland, one of the projects selling land in the Metaverse, below:
What is the cost of land in the Metaverse?
Those wishing to participate in these “beta” versions of the metadata should prepare their pockets: the cheapest land in Decentraland in the secondary markets starts at around R$ 16,000, at US$3,100. hour sandbox, Values start at R$13,500 in direct conversion. At the end of last year, a virtual land was sold for R$13 million.
But that’s not all: After gaining a lot, it is necessary to develop it with an initiative. according to website Austin Images, The costs of constructing a building with the professionals at Decentraland can reach an average of US$35,000 or R$180,000, considering project work, programming, space design and maintenance. However, users can enter the build mode for free and experiment with the visuals they see fit.
So is it worth investing in Metaverse?
As always, the answer depends on each user’s expectations. For most traders, the answer may be negative, as the cost of entry is high, there is still very little trading in these solutions, and the promise of a return is vague to say the least.
However, there are those who compare the moment at the turn of this millennium to the “Internet boom”, where buying website domains and reselling them years later for a big profit – can be a good business, ignoring the risks. In any case, the modern metaverse offers the same real estate speculation as ever, now in a digital version.
Source: Tec Mundo
