We have good news and bad news. The virtual New York you’ve been waiting for has finally arrived, but it’s already sold out. Next Earth, NFT-based replicas of our planet, had digital replicas of some of the most expensive virtual real estate in New York. Some lucky Metavers New Yorkers already own a favorite of Central Park.
That said, the virtual world is big. With any area of the world open for sale, there is a strong opportunity for NFT collectors to purchase their own pieces of the virtual planet.
How much is digital land really worth?
Each metaverse has its own NFT economy. One of Next Earth has already sold more than .7 1.7 million in virtual real estate. These figures include not only the choice of Central Park and MetLife buildings, but also virtual land around the world.
The value of digital land comes from three sources: scarcity, location and demand. The rarer the land, the more valuable it is. But if you can afford to buy Virtual New York City, congratulations! You are one of the richest people in the virtual world.
Deficits are naturally associated with location. That said, even if you buy virtual land somewhere in the middle, you’ll soon be able to build pixel-based land industries, resources, and more on it, which means any land can have land usability and value.
But real estate has more than just location and scarcity. It depends on how much people are willing to pay for it. This is an important difference in the case of digital New York City. Do people want something small (like a house or apartment) or do they want a part of town (like Central Park or Times Square)? This will affect how much you have to pay for your virtual land.
Virtual Land Beyond New York
Although New York is one of the most famous parts of the virtual universe, it is not the only part of the virtual real estate that people are buying.
There are other parts of New York, such as the Appalachian and Upstate New York, or you can buy pieces from Paris and San Francisco. Metaverse is basically defined by NFT-based digital real estate. Like any real estate market, location is important. Let’s dive into some other places.
Virtual Washington is an area that stretches from the Washington Mall to the U.S. Capitol to the White House. It is a huge expanse of virtual real estate, with its own distinct landmarks and architecture. And people are paying big for it, because the underlying NFTs represent the most iconic architecture in Washington DC.
Virtual Paris is attractive to digital visitors because of famous landmarks such as the Eiffel Tower or Notre Dame. NFTs for these virtual buildings could one day be sold again in tears. In a similar vein, there are beautiful castles that are being bought – probably NFTs collectors who want a piece of history in this digital world.
Meanwhile, the famous Arc de Triomphe in Paris was originally bought for 100, and then resold at the NFT Marketplace for an incredible 3,400 মার্ the day of the Marketplace launch!
The most expensive country
Here are a few examples; Each geographic region has its own virtual real estate market where you can buy land with the NFT attached to them. Next Earth has some valuable virtual land in Vatican City, Monaco and Macau.
The Vatican is being bought by metavers collectors for its beauty and rarity, including Vatican real estate such as St. Peter’s Square and the Apostolic Palace. These are the regions where the most famous Catholic landmarks are located, including St. Peter’s Basilica and the Sistine Chapel. People are paying nicely for the virtual view of this historic place. As of writing, Vatican City tiles are selling for 42 BUSD, which represents a 42,000% increase!
When you think of luxury, Monaco probably comes to mind. From sea views to yachts, this small town-state has been very successful in marketing as a place where super-rich people can fulfill their dreams. The price of real estate for these virtual places is high because they are very rare – Monaco is just so big.
Macau is another metropolis that has its own digital real estate market, extending from the casino to the waterfront to Macau and beyond the historic center. Finally, Next Earth presents many opportunities for crypto enthusiasts to invest in a variety of environments that you cannot easily visit (live alone) in the physical world.
Photo by Brandon Jacoby on Unsplash