The metaverse (Cryptocurrency) is similar to a virtual world where users socialize, work, and play. It took off when Facebook changed its name to meta in October to be more accessible to metaverse users. Decentraland, the Sandbox, and many celebrities now sell virtual land.
It’s a new era in the collection world, and collectors are pursuing an alternative view of collectibles. Because bitcoin and ether create unique digital assets, and these are called NFTs, digital asset ownership is everywhere.
Metaverse land allows you to create personalized spaces to display digital collectibles. Many landowners are still building up their properties on the metaverse. The only limited plots in each metaverse ensure scarcity.
A virtual land you purchased for more than a condominium in KLCC could disappear overnight. Yong is an advisor for the project Picture, proposed in 2018. It allows people to pin pictures and videos on the map. The virtual landowners earn money from people placing virtual billboards on their plots.
Currently, virtual real estate developers are buying up plots of virtual land. They build experiences and spaces like luxury condominiums. Speculators will push up prices and create a bubble, says another company’s CEO.