In the fall of 2017, NFT projects like Cryptocurrencies shut down like rockets. I had the opportunity to talk a lot about crypto space, NFT and emerging metavers.
These conversations centered around how virtual land can be an effective alternative asset niche within the cryptocurrency market. That’s when it clicked for me: People around the world have owned land for thousands of years, but now it’s being digitally copied to computers around the world.
Virtual real estate will have its own economic policies, such as physical real estate, and Next Earth is leading the way in creating this new asset class. Next Earth was launched in August 2021 and quickly became Metavers’ largest virtual real estate platform with a total value of about মিল 2 million in user-owned land based on replicas of the Earth.
The importance of NFTs
In my view, NFTs are a continuation of our evolution from caves to cities to blockchains – they are another tool for digitally building our lives and connections.
As we all know, technology is both a blessing and a curse, so I think we will have some growing pains such as finding out how we can create a safe space online as well as allowing people to express themselves creatively and make money. But if Next Earth is any indication, I think it will be a very exciting time for virtual real estate.
Bought Virtual Land NFT in Next Earth
That being said, let’s take a look at the process of buying NFT virtual land in the next earth.
First, I just signed up to nextearth.io with my email and password. The next world is the largest and most well-established of the current crop of metaverse real estate companies. I’ve joined thousands of other landowners and a community of NFT enthusiasts through their Discord Community here.
After creating my account, I created a benevolent chain address via the benevolent chain chrome extension. If you still don’t have a Benson Smart Chain address, it’s time to get one. Once you create an address, you need to send a BNB (BSC Native Token) to log in to the next world and buy Virtual Land NFT.
After attaching my wallet, I found the virtual real estate I was interested in using Next Earth Map. Next Earth has a visual map where you can browse all the available parcels of the virtual land. You will see the current ownership status for each parcel, as well as any bids submitted by other users.
Outside of being able to browse the entire virtual replica of the world, you can simply type in a place like “White House” and see if those tiles are available for sale. After attaching your wallet, you can buy any available tile. As you can see below, I decided to choose a beautiful building in the Hollywood Hills.
Of course, you can buy land from other users through the NFT Marketplace. This is a new active area of the Next Earth platform – people can buy and sell virtual real estate NFTs with each other. If the tile you browsed is taken, you can go to the NFT Marketplace to see if it is available for sale from the original buyer.
For example, you can buy Area 51, Prime Mall Locations, Wine Testing Locations and many more interesting real estate plots through the Marketplace.
From here, you can do one of two things: you can hold on to your NFT land and see prices rise over time, or you can let someone else bid on your virtual land. With Next Earth’s NFT Marketplace, you can retain the item or resell it through the Marketplace.
Ultimately, NFTs have steadily grown in popularity over time, but have recently exploded due to the increasing availability of blockchain technology and the rise of crypto-assets.
Consumers have plenty of options when it comes to buying NFT. It used to be that buying virtual items was largely limited to popular online games (WorldCraft, Minecraft, etc.). But now, there are plenty of non-game examples like Next Earth, where you can buy any virtual land as NFT.
Photo by Colton Jones on Unsplash