Imagine if your customers could walk through your store, try on outfits, and hang out with friends — all without leaving the comfort of their home.
That’s the promise behind the metaverse, which, according to Facebook’s Mark Zuckerberg, is where humans will soon live.
If Zuckerberg is right and the metaverse really is the future, then buying land in the metaverse now — before it becomes reality for most people — is a worthwhile investment. Using a real estate agent who understands the ins and outs of the metaverse can help you navigate these unfamiliar waters to ensure you make a sound investment that will give you the edge over your competition.
Why Is Buying Land in the Metaverse a Good Idea?
It may be strange to think that plots of land in the metaverse can have value when the internet is infinite. However, many metaverse platforms have built-in scarcity through limited parcels of land. For example, Decentraland, one of the most popular metaverses currently, has only 90,000 parcels of land available. In theory, once those parcels are sold, Decentraland will be full.
Buying early ensures you a prime piece of virtual real estate in the hottest online neighborhood before prices go up or land becomes scarce. Some parcels have rapidly increased in value, with those on popular platforms coming close to physical real estate prices. There’s also the benefit of having more access to users in a more popular area, meaning more visitors to your virtual store or more requests to rent your space for hosting virtual events.
What Should You Do if You Want To Buy Property in the Metaverse?
It’s not as simple as just buying property in “the” metaverse. At the moment, there are several different metaverses, each touting different features. Ultimately, the right metaverse to invest in is the one that will see the greatest success in terms of adoption down the road. Determining this can be a bit of a gamble, especially if you’re not familiar with the landscape. Transactions also all occur in cryptocurrency, which is another hurdle for those not well-versed in the technology.
Using an expert metaverse real estate agent can help you navigate the process, allowing you to buy in before it’s too late.
How to Buy Property in the Metaverse
There are a few different ways to buy land in a metaverse. One option is to go into the platform’s direct marketplace. In most marketplaces, you’ll be able to see a map of the area and the coordinates of each parcel available for sale or rent. While relatively straightforward, this tells you virtually nothing about how profitable a parcel may be in the future.
Another option is to go to a third-party marketplace. These can be beneficial because they show historical prices of properties in the area and may offer properties from multiple different metaverses, allowing you to comparison shop. However, this still requires you to have and manage a crypto wallet containing the currency used in your metaverse of choice.
The third way to shop for property in the metaverse is to go through a virtual real estate agent who can do the research and facilitate the transaction directly.
Why You Need to Work with an Agent in the Metaverse
Virtual real estate agents help make the complex process of buying or renting property in the metaverse accessible to everyone. They understand details like:
- Which neighborhoods are sound investments for which businesses
- Which metaverses are worth buying in
- How to fulfill cryptocurrency transactions
- What a good price is for online real estate
- Historical costs of online real estate properties
- How to manage a digital real estate portfolio
Just as you work with a real estate agent in real life to ensure you are getting the best property for your budget, using a real estate agent in the metaverse allows you to benefit from the expertise of someone who has done all of the research already.
Get an Edge on Your Competition by Buying Land in the Metaverse
Some of the most successful businesses are the ones who decided to get in early on emerging technologies. Buying land in the metaverse today can give you an edge on your competition tomorrow. As experts in metaverse real estate, 3ora’s mission is to make that edge universally accessible, furthering the dream of a metaverse that is lucrative to all.