Very wealthy people, like Snoop Dog and companies like Samsung are “buying” real estate (shouldn’t that be virtual estate) in the metaverse. I am not really sure what that means. Where is the land registry? Who are they buying it from, and most importantly who is going to do the surveying in the metaverse?
I know lidar scanning will be important in the metaverse to create 3D models of the real world. That’s a good thing.
One thing that does seem to make sense is that you generally make your payment in Bitcoin – that definitely figures.
According to a recent article in Forbes magazine entitled, “How to Buy Land and Real Estate in the Metaverse” anything that we can do in the real world will have a digital twin in the metaverse. In just a year the average price of land for the smallest plot of land available for purchase on Decentraland or the Sandbox – two of the biggest metaverse platforms has gone from $1,000 to $13,000.
Some people are buying land so they can build a home where they can show off their possessions. These would be unique digital possessions like NFTS – non-fungible tokens. Major auction houses have been conducting sales of NFTs this year for real money.
Other investors in the metaverse are good old real (virtual) estate investors who are looking to buy low and sell high. In the meantime there is also a healthy rental market where you can make income while you wait to sell.
A quick check of the Decentraland website is well, another world. I am going to spend some time there and will let you know if they are in need of any surveyors.
If you are a buyer, Sandbox is advertising Public Land Sales.
I have heard that it is still all about location, even in the metaverse
We do know one thing, Zuckerberg is betting Facebook on it. Very few people have been able to hit two home runs in business. We’ll’ see what happens – no pun.
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surveying in the metaverse