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The growth of the metaverse industry has birthed an entirely new way of owning real estate – digitally. Every new metaverse comes with an entire map of digital land plots that players can purchase.
Players purchase these plots of land and can choose to do whatever they please on them, just as they can with real-world real estate. For example, they can build buildings, create businesses, rent out the land, or display advertising to earn another income stream.
As the metaverse grows in popularity, so does the value of each digital real estate plot – especially if they are located in popular locations within the metaverse.
Digital real estate has provided a novel way of owning real estate for those who can’t afford a hefty down payment to secure a property. However, finding the best digital real estate to produce returns can be cumbersome.
Fortunately, we’ve done some research and found five of the best crypto projects to buy digital real estate in for 2022.
Real Estate Investment Club is a project focused on creating a metaverse community centered around real estate education and investing. Its collection of NFTs was created by one of the designers from the Grand Theft Auto and Red Dead Redemption teams, making them highly unique in the NFT industry.
Players must first purchase an NFT to act as an avatar to access REIC – MetaCity, the high-definition metaverse behind the project. There, members of the REIC community can come together to network and socialize with real estate investors to learn about potential opportunities.
The metaverse is built using Unreal Engine 5, a widely used gaming engine that produced some top-tier games such as Gears of War and Fortnite. This makes the metaverse feel like a highly polished product, with lifelike animations and battle-tested game mechanics. Just take a look at the teaser trailer below;
REIC… 🛩#NFT #NFTS pic.twitter.com/7w9Ib7xEwT
The great thing about REIC is that it focuses on real-world and digital real estate. One of their main objectives is to provide the infrastructure required to cater to real estate tokenization on the blockchain. The team believes that real estate will eventually be fractionalized into little pieces to represent shares of a property, making property investment easily accessible with smaller sums of cash.
In addition to fractional ownership, the team also intends for MetaCity to act as a Metaverse-as-a-Service in which players can monetize their assets and services to create an entire economy, just as you would see in the real world.
At the center of MetaCity lies the MetaHQ, the flagship building within the metaverse. There, the team intends to host the following;
A team of developers and architects designed the building to ensure the headquarters is suited for its purpose as being the central hub for real estate education and networking.
Holding one of the REIC NFTs also provides a wide range of utility beyond access to the metaverse. For example, the team intends to host real-world private events in premium locations – the first being in Edinburgh.
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Furthermore, holding an REIC NFT provides access to partnered projects, including the Digital Asset Property Group (DAPG), a tokenized real estate investment platform.
Finally, you are also automatically entered into the following giveaways;
The NFTs for REIC is expected to be minted at some point in September 2022. Make sure you join their Discord server to learn more about the project and when the NFTs will drop.
Overall, Real Estate Investment Club is undoubtedly the first point of call if you want to learn more about real-world and digital real estate investment opportunities and education. The metaverse provides the perfect platform to network with like-minded individuals to gain a more in-depth understanding of real estate investment from people deep into their journey.
Summary;
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The Sandbox is one of the most popular metaverses today. It is a creative metaverse built by players using ready-made preset templates the team provides. As a result, The Sandbox offers a gameplay style similar to the highly popular Minecraft world.
The Sandbox was birthed to lower the barrier to entry into the metaverse for non-tech-savvy players. The entire idea of the game is for players to buy digital real estate and create User Generated Content to host and earn inside the metaverse.
The team has provided various tools to simplify creating User Generated Content.
The first tool to mention is VoxEdit, a platform that allows players to develop NFT items called ASSETs using a graphical user interface. Players don’t need to have any coding experience to create the NFTs, and they can create highly detailed items by simply using the VoxEdit Lego-like block-building infrastructure.
Items created on VoxEdit can include the following;
Another tool created by the team is the Game Maker, which allows players to develop their own unique 3D gaming experiences hosted on their digital real estate to earn an income. Types of games already created using the Game Maker include;
The game’s digital real estate and all the NFT ASSETs can be bought and sold through the marketplace using $SAND, the platform’s native transaction token.
Digital real estate in The Sandbox has already become extremely popular, with one plot of land sold for USD 4.3 million. Furthermore, celebrities have already moved into the metaverse, making plots of land near stars highly popular. For example, somebody paid USD 400,000 to be Snoop Dogg’s neighbor in The Sandbox.
Bit Country describes itself as the platform for user-generated metaverses and a smart contract platform for dApps and games.
Bit Country is trying to distinguish itself from traditional metaverses by allowing users to launch their own metaverses. Community leaders can come to Bit Country and establish a separate metaverse tailored explicitly for their own community.
The great thing about the project is that no coding skills are required for users to create their own metaverse. Instead, they can simply develop digital real estate using the team’s voxel-building tools and 3D props.
Every new metaverse comes with its land plots that can be purchased by community members and developed. In addition, the metaverse will come with its own marketplace and an in-depth governance system.
The project is relatively new and still in its alpha stages but is backed by some of the biggest venture capitalists in the industry, including;
Brands can also come to Bit Country to launch their metaverses, which they can use as a medium to interact with their customers and showcase all of their products and services.
Every Bit Country metaverse is built in the Continuum, a land map with a limited number of plots. In total, there are 100,000 land blocks available, making them highly desirable as they are fixed. Each land block is divided into 100 land units, where digital real estate is created.
Visitors that come to Bit Country are free to visit any of the different land blocks available, provided they are public metaverses.
The platform is built on top of a Substrate parachain on the Polkadot ecosystem. As a result, users can directly enter the metaverse straight from their browser. The native currency of the platform is called Bit Country Gold (BCG), which allows users to stake, purchase resources, and receive gas-free transactions and promotions.
Decentraland is arguably the most popular metaverse for digital real estate and is often considered the pioneer in the industry.
Decentraland is a world entirely created by its own users. The project was founded in 2017 and already has over 300,000 active monthly users, making it one of the most populated metaverses in crypto.
The project allows its players to own digital real estate and explore the user-created world. Players start by creating their own avatars that they can customize with different appearances. Once created, they are free to explore the various districts and socialize with other players in Decentraland.
The digital real estate in the metaverse is called LAND, which are NFTs of plots that users can own and build on. Landowners must use the Decentraland Builder SDK to create anything they can imagine. Some digital real estate already developed in Decentraland includes;
In addition to building digital real estate, landowners can also use the SDK to create their own gaming experiences. As a result, a wide range of 3D games has been created. For example, players can enjoy a round of MiniGolf on Gold Cart Island or head to the ICE Poker lounge.
Bloktopia is a metaverse housed inside a digital VR skyscraper with 21 floors representing the 21 million BTC in circulation.
Built on the Polygon network, Bloktopia is a metaverse with the following objectives;
Bloktopia is best described as a giant shopping mall with stores distributed throughout the skyscraper to showcase products and services.
Users can buy plots of land within the skyscraper to build similarly themed businesses across the 21 floors. In addition, the digital real estate can be developed to build businesses and provide advertising so landowners can earn an income stream.
The first floor of the skyscraper is a commercial space designed to be an educational hub for players to learn about cryptocurrency. In addition, the tower has an Auditorium on the sixth floor, where regular interactive video presentations occur from different crypto influencers. Finally, there is a gaming floor where Bloktopians can unwind and play multiplayer games of chance.
Players must use $BLOK to pay for services inside the skyscraper.
Digital real estate is just starting to take off. As these metaverses grow in popularity, the digital real estate market will only continue to grow. Eventually, digital real estate will become extremely valuable, with large corporations battling to get land parcels in highly populated areas inside the most active metaverses.
Brands such as Nike, Apple, and Tesla will likely enter each metaverse to establish their presence in the digital world, providing an outlet for users to browse products and directly purchase items within the metaverse.
Overall, every metaverse on this list is worth diving into to see if there is digital real estate suited to you. However, our top pick remains the Real Estate Investment Club. REIC provides a perfect blend between education and social activities, creating the ideal space to come and learn about real-world and digital real estate investing opportunities.
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