Buying parcels of virtual land has become all the rage investing your money in buying land NFTs and becoming a part of it now!
In the six months since Facebook was renamed Meta the idea of ”Metaverse” jumped from the lesser-known science fiction fantasy to the forefront of popular culture. Despite this growing interest, there is still limited consensus on what the term means and its impact on consumers, different industries, and the economy as a whole. At least one area of the economy has already moved to the focus of the Metaverse: Real Estate.
Real estate has always been an important part of most people’s investment portfolios. Building a virtual real estate portfolio can be the next big thing for investors who are not afraid to take a chance on new technologies. The world has come a long way, and people are now living as an alternate version of themselves in the virtual world. They are trading cryptocurrencies, which is a virtual currencies, buying digital outfits, and collecting digital art as non-fungible tokens (NFTs). Virtual real estate becoming a thing, and gaining traction around the world was the next big shift in the new virtual paradigm.
Virtual Lands are unique properties that exist in the virtual world of a Metaverse, and their ownership is certified using NFTs. This world can be thought of as an open-world sandbox-type game like Minecraft or Roblox, but with more social elements, and a vibrant virtual economy that has value in the real world. People can use their Metaverse Land to develop different events, venues, or even DApps on top of it. A Metaverse’s Land is actually one of the most important virtual assets in its virtual economy because all the fun exciting stuff like games, virtual concerts, and NFT exhibitions are made on top of it.
Use Cases to Buy Land in the Metaverse
Many people, including major companies, are buying and collecting land in the XANA Metaverse. The reason for buying Metaverse Land is simple: people want to use it as an investment either in the form of starting their own virtual business on top of the Metaverse, or renting/selling it to someone else who plans on starting a virtual business on the Metaverse.
There are numerous business opportunities available to people who buy Land in the Metaverse. Just some of the opportunities available to people who buy Land in the Metaverse are: hosting virtual music and trade shows, hosting NFT exhibitions, renting out Metaverse Land, developing the Metaverse Land, creating virtual Ads, creating virtual learning spaces, and developing games. There are more potential business opportunities associated with Metaverse Land, but this article will only cover the aforementioned ones.
1. Buy Land in the Metaverse to Host Virtual Music Shows
A major reason to own Land on the XANA Metaverse is to be able to host virtual experiences such as virtual music shows. There are many types of virtual music shows that can be held on a Metaverse such as concerts, EDM festivals, and Raves. All types of virtual music shows can be designed, and created on your XANA Metaverse Land through the XANA Metaverse builder tool.
You can even hire someone or work with a team to help you develop your Metaverse Land to make it an appropriate venue for virtual music shows. These virtual music shows should be looked at as a business opportunity because you can charge all attendees to your music shows a fee.
There are multiple ways to earn revenue through fees when running a virtual music show. For example, you could sell NFT tickets, get the attendees to pay in tokens at the gate, or come up with another way to monetize the virtual music shows on your Metaverse Land.
2. Buy Land in the Metaverse to Host Virtual Trade Shows
One of the main reasons why you should buy Land in the Metaverse is to host virtual trade shows on it. Virtual trade shows are unique venues that allow people to meet up on the Metaverse to trade virtual/digital assets that they have made. These virtual items can be specified for the Metaverse such as virtual clothing for Avatars, or they can even be for the physical world such as songs, music, and graphic designs.
Statistics show that running virtual trade shows will become a multibillion-dollar industry in the near future. People who buy Land in the Metaverse to run virtual trade shows have an amazing business opportunity on their hands, but it will require some effort. After you buy Land in the Metaverse you will need to develop it first, so that you can make it appropriate for virtual trade shows. The XANA Metaverse offers a builder tool that can help you develop your Metaverse Land, and you can even hire or work with people to develop your Land in the Metaverse.
3. Buy Land in the Metaverse to Host NFT Exhibitions
The world is growing faster in the field of digitization and so the trend of buying digital property is growing. Within the Metaverse we can all interact with friends, go to work, own real estate, and very importantly buy digital goods. People who buy Land in the Metaverse can use their Land to create a virtual NFT exhibition. Virtual NFT exhibitions offer people virtual tours, shows, and NFT Art that allows them to immerse themselves by simply going online, and ignoring all location and geographical boundaries.
If you buy Land in the Metaverse you can create an NFT exhibition on it to help artists sell their NFT art. The NFT exhibition offers excellent visibility to the NFT art, which means it’s more likely to be bought by someone. You can charge the NFT artists a fee for letting them put up their NFT art in your NFT exhibition, or you can charge some kind of commission on all NFTs that are sold in your NFT exhibition. Previously, XANA hosted an NFT exhibition award show called the XANALIA NFTART AWARDS on the XANA Metaverse. The best performing NFT art at the NFT exhibition sold for $15,000.
4. Buy Land in the Metaverse to Rent it Out
People who buy Land in the Metaverse will be able to rent out their land to others to earn rental income on a monthly basis. Game developers and businesses who missed the opportunity to buy Land in the Metaverse during their initial sales will likely be interested in renting out Metaverse Land. Additionally, small projects who don’t have a lot of capital, but are interested in working on the Metaverse will likely test the waters out by renting Land on the XANA Metaverse first.
Individuals who buy Land in the Metaverse to rent it out are taking a serious risk because not everyone will be able to find people willing to rent their Metaverse Land, but it is a risk that has a lot of potential. Users on the XANA Metaverse can rent out their Land, and whatever tokens or cryptocurrencies they get for this service will be theirs to keep. Naturally, factors such as the location of the Metaverse Land, and how developed it is will factor into the rental income it can earn, and whether or not anyone will rent it out in the first place.
5. Buy Land in the Metaverse to Develop it
People who buy Land in the Metaverse should know that Metaverse Land has a lot of similarities with physical Land. Much like physical Land, Metaverse Land also gets its value from how much utility it can offer. One of the most important factors that give Metaverse Land value is its location, but another really important factor is how developed it is.
Developers in the real world buy Land to develop it, so that increases in value, similarly people can buy Land in the Metaverse to develop it, and it can increase in value as well. This is a rather risky business venture, but if your development of the Metaverse Land genuinely does add utility to the Land then there is a chance it could rise in value.
6. Buy Land in the Metaverse to Create Virtual ADs
People who buy Land in the Metaverse can use it to promote a business, including their own business. Build a plaza, add banners and create billboards to advertise businesses on your Metaverse Land. A lot of traditional businesses such as clothing and shoe brands are really interested in Metaverse Land as a place to advertise their businesses.
You can charge people and businesses a fee in tokens to advertise their businesses on your Metaverse Land. The best part is advertising businesses on your Metaverse Land can be a supplementary source of income, because you can still use the Land to host virtual events like music shows or trade shows at the same time.
7. Buy Land in the Metaverse to Set up Virtual Learning Spaces
People who buy Land in the Metaverse can create virtual learning spaces on it. The Metaverse offers a great way to virtually interact with others around the world. A continuous alternate reality offers endless possibilities and can have a particularly significant impact on education. Imagine a classroom full of students who want to learn about history. These students live in different countries around the world and their teachers lead a digital nomad lifestyle. Thanks to the Metaverse, teachers, and students from all over the world can meet whenever they want in a virtual place within a virtual world regardless of their physical location.
People who buy Land in the Metaverse should know that virtual learning is the next paradigm of digital learning, which is a multibillion-dollar industry. XANA’s Metaverse accelerates the disruption of the traditional and digital education system by using avatars (virtual 3D humanoid models) to significantly enhance the virtual learning experience, which is an important aspect of virtual education.
Metaverse Avatars allow people to communicate through text and speech options. Additionally, the Metaverse Avatar allows students and teachers to move around the Metaverse’s virtual world to provide a more comprehensive and immersive online learning experience. XANA strives to create more comprehensive and creative educational solutions for online educational institutions.
8. Buy Land in the Metaverse to Develop Games
People who buy Land in the Metaverse can use it to develop games on top of the Metaverse. The XANA Metaverse provides a virtual world that has all the necessary infrastructure and features needed to create a huge variety of games and social events all on the same Metaverse. XANA’s game builder feature provides you with extra resources, tools, and crafting ingredients that allow you to start creating your own games directly on the XANA Metaverse. If you have already developed an NFT/blockchain-based game you can easily integrate it on top of the XANA Metaverse.
Individuals who buy Land in the Metaverse to develop NFT games should know that any game developed on the XANA Metaverse can be integrated into the greater Metaverse economy. Connecting your game to the Metaverse economy allows you to introduce GameFi mechanics like play to earn into your game, which is beneficial for your game because it gives it a unique appeal.
Even if you don’t want to connect your game to the XANA Metaverse’s economy, you can still benefit from developing your game in the Metaverse. Developing your game on the XANA Metaverse will allow you to easily gain exposure to XANA’s user base and community.
Potential Risks Associated with Buying Land in the Metaverse
As shown by this article, anyone who buys Land in the Metaverse can use it to explore numerous virtual business options. The Metaverse is the most exciting thing that happened this year, and it might continue to be that way in the coming years as well. It is important though to keep in mind that the Metaverse is a very risky industry, and Metaverse Land is one of the more risky asset classes in the world.
As exciting as the Metaverse is, investing in it comes with some serious risk. Buying Land on the Metaverse is arguably a very risky move, especially if you have no experience running a digital business. Before you consider opening a virtual business or making any investments in the Metaverse it’s always important to do your own research and due diligence.
Land in the Metaverse is a Very New Asset Class
Buying and owning real estate in the physical world has been going on for thousands of years, but as the world becomes more and more digital a unique new kind of real estate industry is emerging thanks to the development of virtual reality. Metaverse Land is virtual real estate, and even though it might seem strange it has a good number of use cases. Although, as of right now only speculators and large corporations with a lot of capital tend to buy Land in the Metaverse.
As VR technology improves, and Metaverses become more popular, virtual land may gain momentum in the future. There are already a lot of different business opportunities associated with Metaverse Land, but they all come with serious risks. It is likely that as more people join the Metaverse, and as VR tech further improves even more potential businesses can be made on top of Land in the Metaverse.