If the metaverse is intended to encapsulate everything that exists virtually, then metaverse real estate can be considered nothing but a type of investment NFTs. Users now can choose from various virtual worlds, including The Sandbox, Decentraland, Cryptovoxels, Superworld, etc. They all have hyper-realistic visuals, gaming features, and communities for angel enthusiasts. But are upcoming metaverses like COMEARTH creating better investment opportunities? Let’s take a look at how the metaverse is evolving and how it may shape the future of the creator economy.
Decentraland
Operating on the Ethereum blockchain, Decentraland is a virtual reality platform. Users can create 3D scenes, buy and sell parcels of land, and customize their digital avatars using wearables. They can use Builder, a drag and drop tool. Users can adjust the dimensions and finalize the size of their scenes. They have freedom in modifying the textures, moving items to specific locations, and deploying parcels on the map. Importantly, the 3D land is owned by the community, and members have control over their creations.
Decentraland also has an events section where individuals can take part as guests in gaming competitions, musical concerts, dance performances, and movie marathons.
Decentraland also functions as a Decentralized Autonomous Organization (DAO). Users can determine how the world behaves, the mechanism of the LAND auctions, the addition of wearables, and the marketplace fees. They can vote on numerous proposals and influence the governance of the NFT marketplace.
They can also explore the virtual world built by the community after syncing their software wallets. There are different forms of collectibles like common, uncommon, rare, epic, legendary, mythic, and unique. The marketplace is the one-stop destination for purchasing items, estates, parcels, and names.
Overall, the trading volume of Decentraland has surpassed a whopping $200 million. 22,053 NFTs have been sold on the primary and secondary markets. MANA acts as the in-game ERC-20 token. It is burnt and can be exchanged for buying LAND parcels. Investing in LAND, renting out LAND, playing games, and hosting events are the various ways users can earn income.
The Sandbox
It is a virtual gaming world where users can create their own experiences and organize events. LAND represents the piece of the metaverse. There are around 166,464 LANDS, and the value of the NFTs is high because of scarcity. Owners of LAND can host events, influence the platform’s governance through voting, play games, and monetize assets. It grants access to exclusive content and offers monetization opportunities. Overall, around 10 million SAND tokens and 10,000 NFTs were distributed during the Alpha Season 2.
Individuals can create 3D games with in-built tools and templates. They can share their creations in the gallery. The marketplace features different NFT collections. Investors can purchase assets of creators with SAND tokens and incorporate them into their LAND. They can also trade in entities, artwork, wearables, and equipment. Users can create models with VoxEdit and export their assets to the NFT marketplace.
As a community-driven platform on the Ethereum blockchain, The Sandbox is a Play-to-Earn (P2E) game. It allows players to own in-game assets. Estates are a group of LANDS merged into larger parcels. They come in 4 sizes, 3×3, 6×6, 12×12, and 24×24. Districts refer to LAND parcels owned by different people. Hence, owners of LAND in a district must stake SAND tokens.
Will the metaverse of the future be different from Decentraland and Sandbox?
As virtual worlds on the Ethereum blockchain, Decentraland and The Sandbox have come a long way since their launch in the market. In the coming years, the metaverse will represent an immersive environment where advanced technologies like Augmented Reality (AR), Virtual Reality (VR), Artificial Intelligence (AI), the Internet of Things (IoT), Blockchain Technology, and 3D congregate. Big tech conglomerates and social media giants have made their intentions clear regarding the entry into the metaverse. Other projects like Enjin, Somnium Space, Bloktopia, and Crypto Voxels look promising.
Metaverse will lead the Web 3.0 revolution as it ticks the right boxes for being open-source and decentralized. While users will interact via digital avatars, viewers will be guaranteed a one-of-the-kind experience that is a blur between imagination and reality. Amidst discussions about hyperconnectivity in the digital world, the adoption of cryptocurrency will determine the growth of the metaverse. More focus will be on creating an enhanced reality for every person to ensure social connection. Want to spearhead the next generation of the Internet?
Be part of COMEARTH now and unlock your untapped potential for the metaverse.
