Digital land in the metaverse is selling for millions of dollars. Everyone is crazy to buy just a plot of land in some of the top metaverse projects. But what makes these digital land in metaverse valuable?
There are 3 things that make digital land in metaverse valuable. The utility of the digital land in the metaverse , location of the digital land in the metaverse project and rarity of the digital land among the metaverse projects is going to be the prime factors that make digital land in metaverse valuable.
Does digital land in metaverse even have any real value or have any uses like physical land? Is digital land in metaverse even rarer?
If all these questions are popping in your mind then, this is the perfect blog post for you. This blog post will intend to answer all the questions for you. First, I will intend to offer the concept of digital land. Then, I will explain in detail 3 things that make digital land in the metaverse valuable. Finally, I will list some top metaverse project where you can invest in digital land.
- DIGITAL LAND
- 3 THINGS THAT MAKES DIGITAL LAND IN METAVERSE VALUABLE
- TOP DIGITAL LAND IN METAVERSE TO LOOK OUT FOR
Let us begin this post with the concept of digital land. In real life, you buy physical land for some purpose. You could build a house on it, sell it for a higher price, open a shop or rent it.
The same is for digital land in metaverse. You can do the same things as any physical land in the real world. You can do the following things in digital land in metaverse.
- Build house in the digital land.
- Build games in the digital land.
- Mine Crypto or Tokens from the digital land
- Set up shop in the digital land
- Rent the land or shop
- Display advertisement in the digital land
- Sell it for a higher price.
DIGITAL LAND IS ALSO KNOWN BY
Digital land is also known by other name in the tech industry and crypto industry. I will list some of them.
- Virtual Land
- Metaverse Land
- NFT Land
3 THINGS THAT MAKES DIGITAL LAND IN METAVERSE VALUABLE
Things that makes digital land in metaverse valuable are not so different from physical land. The basic rule of investing in land still applies even if you are buying digital land in metaverse.
There are 3 most important things that make digital land in metaverse valuable and it is explained in details in the next section.
The most important thing that makes digital land in metaverse valuable is the same thing as physical land that makes it valuable. Location is the first thing that makes digital land in metaverse valuable. I will explain it in detail.
Location in metaverse land varies a lot and that too a lot more than physical land in the real world. For example, you would prefer to buy a physical land that is in the prime location of a city rather than other parts of the city. This piece of land is going to have lot of value. A small piece of land is going to cost millions.
So, same rule apply to the digital land in metaverse.So, there are lot of metaverse project coming up where digital land is sold. Location in these metaverse projects is just as important as in the physical world. In the next sub section, I will list some metaverse land that have are important due its location.
Snoop Dogg has bought land in the Sandbox metvaese and built his mansion called snoopverse. If you have land near snoopverse, it is worth millions of dollar by now.
Snoop Doog throws parties all the time and there are a lot of people swinging by to attend his party, concert, etc. So, it has become a popular metaverse location in Sandbox metevarse. You can see how the land near snoopverse has made the digital land in metaverse valuable due to its location.
UTILITY OF THE LAND
The 2nd things that make digital land in metaverse valuable is the utility of the land. Utility of the land here means that for what purpose the land is going to be used for in the metaverse.
What you can do with the land? To know, you should find out answers of the following questions before investing in digital land.
- Can you build stuff in the digital land in metaverse?
- Can you sell things like NFT, Crypto or other digital assets.
- Are there real business opportunities out of this digital land?
- Can you generate real revenue like physical land?
The land in the metaverse is built to provide some utility in the metaverse. Most of the metaverse project nowadays are basically P2E games. In the below subsection, I am going to discuss about utility of land in mirandus metaverse.
Mirandus is fantasy role playing game (RPG) developed by Gala Games. You can buy land in mirandus metaverse. You can set up weapon shop, temples, bars, etc where people will spent their money and time.
You can build all the infrastructure that the players is going to use in the game. So, digital land in Miranda has in-game utility. Utility of the land in the metaverse is going to be a big factor in making the digital land in metaverse valuable.
In the sandbox, utility makes the digital land in metaverse valuable. Once you land in sandbox, you will be able to build games and assets on the land. There are many utility of sandbox digital land and some of them are mentioned below.
- You can build a game and host the game in your land.
- Land in the Sandbox allows you to monetize gaming experience, social experience or any other experience by other users.
- The owners of land in the sandbox metaverse can become part of Sandbox DAO.
- You can host virtual concerts and events and get rewards from it.
RARITY OF THE LAND
The 3rd and final thing that is going to make digital land in the metaverse valuable is the rarity of the land. Rarity of the land is as important as location and utility of the land.
But what is rarity of digital land in metaverse? Rarity of digital land depends on the following points.
- Number of plots available.
- Number of user visiting the metaverse.
- Utility of the land.
- Location of the digital land in the metaverse.
All the metaverse have a limited amount of land and each land has a different specific purpose. This makes digital land in metaverse valuable. In the subsection, I will give you a formula to find rarity of digital land and total amount of land in different metaverse
TOTAL AMOUNT OF DIGITAL LAND IN DIFFERENT METAVERSE
Major popular metaverse like decentraland, the sandbox, axie infinity, etc have digital land but they are limited. This makes the digital land in the metaverse valuable. I am going to list the amount of land made available for the users in the major metaverses.
|Name of Metaverse||Total Plots of Land||Size of each plot|
|Decentraland||90,600||16 x 16 meters|
|The Sandbox||166,464||96 x 96 meters|
|Cryptovoxels||5,000||9 x 19 meters|
|Somnium Space||5,026||200,600 and 1500 sq. meter|
|Axie Infinity||90,601||512 x 512|
FORMULA TO CALCULATE RARITY OF DIGITAL LAND
The a lot of calculation that sets the rarity of the land. I will introduce a simple formula to find the rarity of digital land in metaverse.
The higher the value of rarity makes the digital land more valuable. For example, if there are 10 pieces of digital land in metaverse and there is going to be millions of users of that metaverse, the rarity of land is going to be high and so its value.
TOP DIGITAL LAND IN METAVERSE TO LOOK OUT FOR
Now you know what makes digital land in metaverse valuable.You might want to know what are some top metaverse projects in which you can invest in digital land.
Here are some of the top metaverse projects to invest in digital land.
- The Sandbox
- Axie Infinity
- Star Atlas
But, do your own research before investing in anything and take your own risk.
There are basically 3 things that make digital land in metaverse valuable. The 1st one is its location, the next one is the utility of the land and finally the rarity of the land also decides the value of the digital land.
I have explained in detail all the 3 things that make digital land in metaverse valuable. In addition you can find formula to calculate rarity of digital land, total amount of land in some famous metaverse projects and I have listed some metaverse projects where digital land in metaverse is going to be valuable.