The virtual life of the metaverse has been going side by side with our real life these days. You can even purchase NFT real estate metaverse as your virtual asset, similar to the real-life equivalent. Like in real life, where you are able to rent real estate instead of buying it, you do not have to buy it in the metaverse. However, similar to real-life real estate, owning real estate in the metaverse is a great investment for the present and future. Or is it?
What is NFT Real Estate
Inspired by gamers willing to pay real money for in-game accessories or content, developers give people in the metaverse the ability to buy virtual lands minted on a blockchain. Those lands are ready to be purchased as NFT, hence the term NFT real estate. Because it is non-fungible, each land has value for its uniqueness, like the location and features that can not be duplicated, just like real-life land.
Once people have their hands with some virtual real estate, they can do anything they like with them in the metaverse according to the virtual worlds they have assets in. They can also rent them or sell them in the future while potentially getting some profit. Moreover, NFT real estate also includes virtual properties for houses, to open businesses, or hold virtual events. It can also be additional countries, cities, or just maps in general for certain blockchain games.
Why NFT Real Estate Is Going to the Moon
With the technological advancements, followed by the COVID-19 pandemic, which made people do anything virtually, the number of people in the metaverse can only be increased over time. In the metaverse, people can do anything like in the real world without leaving the comfort of their homes.
Not only that, gaming industries, especially online ones, have grown recently as well. Being active in the metaverse is similar to playing those games, but you can do whatever you like and even earn money from it. It is really a bread and butter combination to earn money while having fun playing video games in this digital era.
Even though some people were already active and had some assets in the metaverse even before the pandemic, it is not too late for new people like you to join the party. The virtual world is at its peak these days, and it has the potential to grow even bigger in the future.
More people who did not know anything about NFT will eventually learn about it as it appears on almost every platform of their everyday life. That allows new people to potentially use NFT real estate metaverse as their future good investments.
How to Buy NFT Real Estate
Buying NFT real estate is not as complicated as buying it in the real world. You just need to invest some of your money for a specific cryptocurrency to be kept in your available crypto-wallet. That cryptocurrency is needed for you to purchase the NFT in some providing marketplaces.
A common and the most popular NFT marketplace, OpenSea, is one of the NFT marketplaces you can check to find NFT real estate. OpenSea provides some NFTs of properties for various NFT real estate projects, so the options are limitless.
You can also check and purchase some virtual lands straight from some specific NFT real estate projects. Some of the most popular virtual worlds in which you can buy real estate are Decentraland, Cryptovoxel, Axie Infinity, and The Sandbox.
The choice of where to buy NFT real estate is yours, but pay attention to the specifically required cryptocurrency based on your choice, or you will not be able to buy the NFTs.
Pros and Cons of Owning NFT Real Estate
There are various kinds of people who are willing to spend some real money on NFT real estate. Gamers and nft collectors usually are willing to buy some assets mainly for their pleasure, so it is not their main goal to earn some money. On the other hand, investors are also involved in the purchase of NFT real estate, but the main goal is to get some profit from it. Some big companies even take advantage of virtual assets to open their business in the metaverse.
Looking at those people, you are probably thinking about whether you should buy your own NFT real estate or not. Either way, you have to be familiar with it before spending any of your hard-earned money and not just act as a metaverse bandwagon.
If you are one of those gamers or collectors, you can buy any purchasable contents you like from your favorite blockchain game. Since your goal is to enjoy the contents and have fun, you have nothing to lose from whatever happens to your assets. Besides, if your assets eventually gain value, you can sell them if you want, which is a win-win scenario.
Furthermore, suppose your goal is to get some profit as one of those investors. In that case, you can take advantage of the trend as early as possible since it can get bigger and bigger in the future, which means you would multiply the value of your NFT real estate investment.
However, no one knows what will happen in the future. It is possible for this trend to be just an overhyped thing that people will forget in the future. If that is the case, you can lose most or even all of your money as no one buys your assets. Therefore, you need to be ready and willing to take the risk from every possible outcome.
In conclusion, all kinds of investments have their own risks, but with those risks, there must also be some priceless rewards. The NFT real estate metaverse is an investment option for you to try, especially if you are interested in virtual worlds. Just do not forget to do some research and be ready before investing any of your money.