NFT News

2021 Metaverse Uprising – Why there’s a growth explosion in virtual land realm

TL;DR Breakdown

  • Metaverses are taking over the internet as virtual land sales boom
  • Virtual worlds are powering the NFT economy with massive sales in 2021

Metaverses are all the rage right now! Non-fungible tokens are making a big comeback in 2021. It seems everyone is realizing the massive potential of metaverses and want to tap into the hype. From celebrities to technocrats, NFTs are the flavor of the season as they sweep every known arena from sports collectibles to digital art.

‘Long the metaverse’ is the theme in the crypto universe right now.

While real estate is in the doldrums worldwide, the virtual reality market growth explosion is reaching massive proportions. Metaverse is attracting millions of dollars worth of investments and tapping into relatively unknown arenas. Even though critics dub metaverse as mere futuristic dreams, the world is converging on the investment potential unlocked by the metaverses.

The foundation of metaverses is non-fungible tokens (NFTs). They help achieve massive sales, transform conventional sales methods, and help connect with a wider digital audience base. Celebs are discovering a whole new to reach out to their fans via NFTs. They’ve piqued the interest of celebs, sports stars, and high-net-worth individuals alike.

Growth Explosion? Metaverses are carving out virtual real estate at breakneck speeds

In the real world, property prices don’t match the economic realities of the times. Hotels are empty, and office space is available in bulk. All these scenarios don’t inspire confidence amongst the investors.

On the other hand, virtual land giants like Decentraland and Cryptovoxels are making unbelievable sales. Land parcel rates have almost tripled compared to the 2020 price range. Operating with their currency and economy, these metaverses are giving a glimpse into the future.

From celebs to high-net-worth individuals, investors are lining up to get a piece of the virtual land. Startups are carving out virtual hotels. Digital stores are being put on sale like never before. Online land parcels are exchanging hands like crazy. Crypto enthusiasts don’t seem to get enough of the virtual land right now.

Understanding metaverses – Shaping comprehensive virtual experiences

Metaverse Experience

Think of metaverse as a successor to today’s internet but with richly crafted virtual worlds and AI-powered interoperable possibilities integrated with the physical world. It is way too futuristic to fully comprehend, as the possibilities in tomorrow’s virtual worlds are simply endless.

Metaverses of the future holds immense potential for building entire virtual economies filled with leisure and innovation. They will touch every aspect of human life, from large industries to small professions alike, and even open up potentially new industries.

 Here are some of the top metaverses explained.

Cryptovoxels

Source: CryptoVoxels

Cryptovoxels, built on Ethereum, delivers one of the coolest virtual reality worlds experiences today. The project is massive, the community is diverse, and the scope is simply amazing. Of late, the project has seen massive growth powered by virtual land sales.

There are many aspects to Cryptovoxels as the project offers a mix of virtual reality, real estate, crypto utilities, and futuristic digitization. It delivers an experience akin to Minecraft but a whole lot better. Digital architects, artists, virtual land investors are crowding up Cryptovoxels as an avenue teeming with talent. Speculators are making the most out of the current metaverse hype, and Cryptovoxels serves the community well.

Decentraland

Source: Decentraland

The virtual world Decentraland was perhaps the first project to give an insight into the upcoming virtual land boom. Built atop the Ethereum Blockchain, this proof-of-concept world delivers an innovation-filled experience. The platform has improved massively from its first version moving from 2D grids to an immersive 3D virtual world.

Fast forward to 2021, Decentraland is a massive blockchain-fueled virtual reality world where users buy, sell, exchange land, collectibles, and so much more. The native MANA cryptocurrency helps users complete their transactions. The landscape is filled with all kinds of buildings, cities, highways, artworks, plazas, etc. The experience is too massive to fully comprehend.

Next Earth

Source: Next Earth

NextEarth is another promising upcoming virtual world. Here, the users experience a comprehensive virtual ecosystem filled with a spectrum of solutions. Metaverse innovation is massive here, ranging from DeFi innovations to NFT collectibles and full-fledged economy building.

Land ownership remains the central tenet of NextEarth. Simplifying the sale and purchase of land across the length and breadth of our planet is the critical vision at NextEarth. The project holds unprecedented potential in terms of innovation and helping users gain an advantage over peers. Early adopters will benefit from the metaverse building right from the very start.

Are virtual worlds worth the hype?

Does FOMO drive the current VR hype? If crypto history tells us anything, it’s that every boom must be carefully navigated, or you can burn your hands. Bot every project out there is going to turn into a multi-million-dollar opportunity. Caution is the prerequisite to NFT investing in 2021.

Only the future can unfold the rightful trajectory of metaverses. But for today, metaverses are providing just the perfect escape from reality.

Currently, most of the famous virtual worlds are out of the reach of newcomers. Out of the above three projects, only Next Earth has the potential to welcome beginners. It is still affordable, has suitable virtual land parcels, and also promises excellent solutions. Thus, other virtual land trains may have left the station, but Next Earth is still taking bookings.

This post was last modified on July 17, 2021 7:36 am

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

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