The metaverse has ceased to be a futuristic vision typical of science fiction to become a current reality. Finally, the actions that we thought were exclusive to the physical world can be replicated in this virtual parallel universe without making it any less real for us. Social networks like Facebook are already part of this expansion to another level of the typical virtual reality that we know.
<<< Virtual wallets: How do they benefit your business? >>>
When we say that the metaverse allows us to replicate actions in the physical world, it is not an exaggeration, since the accelerated advance of technology in artificial intelligence is contributing to the development of augmented reality, capable of generating in people the same experiences and sensations that they would have in the real world.
Just as in the physical world we can work, study, meet people, travel, and shop, we can also do it in the metaverse, and the first evidence of these immersive experiences is already going viral.
One of the actions that had the greatest impact on the real estate industry is the sale of land in the metaverse, which is increasing sales and expanding growth opportunities for companies belonging to this sector, outside the traditional scenario. In this article, we tell you what this new trend is about and everything you need to know to buy from the metaverse.
The origins of land sales in the metaverse can be traced back to a trivial practice by Plai's founding entrepreneur, Logan Welbaum, which began more as a pilot test to see what results from it. Plai is a platform that helps SMEs to promote their brand on massive digital platforms.
Wellbaum has a TikTok page with 460,000 followers that he uses to talk about the metaverse and share advertising tips. But before becoming a towering figure in business, he worked at Facebook and Google creating advertising strategies for companies.
One day, he heard about the metaverse and began to investigate more about this concept to use it to his advantage. He decided to enter in 2021 to try his luck buying a digital piece of land in a metaverse founded by two Argentines. In its early days, he paid less than $2,000 in tokens for this virtual piece of land. Today, that land would have amounted to $40,000.
The success of his first purchase prompted him to make a second one in which he acquired several virtual properties at a price that would multiply to his benefit in the future. Although he doesn't sell them for now, he reckons the waiting time will pay off in profits. At the moment, he is dedicated to working on his Decentraland metaverse, bought from the two Argentines.
From there he connected with his thousands of followers around the world and many more users were inspired by his business strategy to buy land in the metaverse, reaching more than 100 million investments in virtual real estate in just one month, something unthinkable in other times for the real estate sector.
Welbaum advises that the best thing to do when it comes to land sales in the metaverse is to invest in areas that have high traffic potential. In this regard, the businessman recommends 7 possible scenarios.
However, Welbaum also warns that while land sales in the metaverse offer good profit opportunities, it can be risky to invest if people stop using it or better competitors enter the game. In short, as in most actions in life, some will be safe and others riskier.
The metaverses, like the physical world, have their rules, which must be followed when thinking about choosing and investing in virtual land, which is expected to bring us juicy profits in the future.
<<< Metaverse: what is next? >>>
Summing up, what seemed like a distant reality now takes on accurate dimensions in the present: the metaverse exists and is working. How does it? Replicating the activity of the natural world as if it were a game with its own rules and possibilities. Land sales in the metaverse are one of them and it is achieving progressive success. Perhaps one could ask what the limit and the real risks are, to which we will probably answer: the same as in the physical world.