Digital real estate is a digital asset you can own and monetize. Digital real estate assets are acquired on platforms such as Decentraland, Cryptovoxel, and Sandbox.
Not long ago, PriceWaterhouseCoopers Hong Kong purchased land on the Sandbox platform. The consulting company made itself the initial member firm to purchase digital land.
The amount digital real estate is worth can vary wildly. Like a physical piece of real estate, you can purchase land with prices based on various factors.
Some recognizable forms of other real estate are e-commerce stores, domains, apps, blogs, NFTs, and affiliate sites. A newer form of digital real estate is the variety of plots of land available for purchase on different platforms.
How Much Money You Need To Invest In Digital Real Estate
More developers and investors are taking advantage of the early-stage opportunity of owning digital real estate. Unfortunately, this is causing an increase in the cost of purchasing digital lands, and as of this writing, purchasing land in Decentraland will cost you approximately 4700 MANA or $13,000.
Decentraland is a blockchain-based, 3D, decentralized virtual world where you can meet, chat, play games with other players in real-time, and buy and sell land. It’s a web 3.0 universe that’s best experienced with the digital wallet Metamask.
The metaverses are actively being built and transforming the internet we know today. While in its infancy, the Metaverse is actively impacting how we interact with one another.
An NFT is a nonfungible token, which means it cannot be replaced. They are used for digital collectibles such as games, virtual items, and other assets.
A digital plot of land is any parcel located in any one of the metaverses. Similar to physical property, digital plots are simulated areas located in virtual reality.