What does it mean to buy virtual real estate? Especially if you are buying just virtual land with nothing built on it yet, it is difficult to imagine what you have invested in. What you're buying is intangible. You have, in fact, acquired a piece of code inside the metaverse. However, rest assured, the land you buy holds a unique position within the digital landscape, permanently assigned to you. The question is, what can you actually do with it? Here's a look at how The Sandbox, Holiverse, Decentraland and other popular virtual worlds handle real estate.
The Sandbox: Owning Virtual Property Can Make You Rich
The Sandbox is one of the most sought-after metaverses today. The list of prominent brands within this metaverse is growing. Atari, Adidas, and Warner Music Group have acquired their spaces there. The platform has signed more than 400 partnerships, hosting big names such as The Walking Dead, the Smurfs, Binance, and Care Bears.
Companies invest in virtual real estate to sell products, create entertainment hubs, and host immersive virtual gatherings for fans and employees. The appeal is clear: by 2022, The Sandbox reached 1 million players, and by 2024, its registered user base exceeded 5 million.
The Sandbox’s virtual land that was estimated $168 million in 2022 has experienced market fluctuations during crypto winter. Those who purchased parcels directly from the platform, paid $400. However, on the secondary market, these prices have skyrocketed.
Factors affecting the price include:
Parcel dimensions: four sizes of LAND from small parcels (3x3), to X-large (24x24)
Proximity to notable brands or celebrities
Areas near popular brands are high-traffic and more visible. When Snoop Dogg purchased land within The Sandbox, he established a virtual estate and called it the “Snoopverse”. There he recreated the elements of his lifestyle, hosting virtual parties and exclusive NFT drops for his fans. The unknown user who purchased a parcel adjacent to Snoop's estate paid $450,000 for it. The most expensive virtual property in The Sandbox was sold for $4.3 million.
Users prefer The Sandbox for the user-friendly tools. It offers VoxEdit and Game Maker, allowing users to create games, experiences, and interactive content without coding skills. It boosts users’ creativity and engagement, while contributing to the metaverse’s vibrancy.
Find the virtual property that fits your style. California Dreamin’ Neighborhood offers a relaxing beachfront vibe and proximity to famous brands like Playboy or Faze Clan. Voxel Madness hub is ideal for game enthusiasts and fans. Those who are passionate about fashion and media can select Galleria Neighborhood, which offers the chance to live near icons like TIME magazine and Paris Hilton.
Decentraland: A Blend of Ownership and Creativity
Decentraland is a decentralized, blockchain-based virtual world, built on the Ethereum blockchain. Being one of the metaverse’s premier destinations, it offers a unique blend of gaming, social interaction, and creative freedom.
The success of Decentraland is amazing. In 2020, the metaverse was opened to the public and just a year later one of its virtual properties was sold for $2.43 million! It was a record-breaking amount at that time. It was higher than most homes in San Francisco and Manhattan. Tokens.com purchased the strategic location in the heart of the Fashion Street district.
Companies and individuals invest in Decentraland’s virtual properties to host events, establish entertainment hubs, or connect with a growing audience. It’s no surprise — Decentraland’s user base has skyrocketed, jumping from 40,000 to over 800,000 users within a short period.
When buying virtual property, consider such factors as:
Proximity to key areas
Such a prominent area as Genesis Plaza, the central hub for Decentraland, attracts higher prices due to heavy visitor traffic. This is the place where users appear first.
Land configuration and development potential
Larger estates offer greater creative potential but demand more management, while smaller parcels are simpler to handle. The development potential can also be assessed by other things such as the existence of pre-built structures on the land.
Market trends
The property cost can vary from 3,000 USD to several millions. Much depends on the market conditions.
Popular Decentraland’s districts include attractions, which cater to every taste and purpose: from Dragon City, inspired by Chinese traditions to Vegas City, modeled after Las Vegas, with vibrant nightlife, casinos, and entertainment and Aetheria, a cyberpunk-themed neighborhood hosting unique events.
The Rise of Somnium Space
Somnium Space is associated first of all with a seamless virtual reality experience. This feature is frequently highlighted by first-time users. Though the locations are scattered across various servers, this is hardly noticed within an expansive metaverse. The platform provides fully customizable, programmable environments, where users can buy, sell, and develop virtual properties. The metaverse is built on the Ethereum blockchain, so its land parcels are sold as NFTs. It helps to secure ownership and streamline transactions in the virtual housing market.
Beyond financial convenience, users benefit from the Software Development Kit (SDK), which boosts creativity in the community members. A powerful toolkit allows to easily create custom assets, develop interactive environments, and foster vibrant communities.
Somnium Space offers land parcels of different sizes: S (200 meters), M (600 meters) and XL (1500 meters). If small parcels start at around 3 ETH, larger ones can reach astronomical prices. Sometimes prices exceed 10,000 ETH and turn this creative outlet into a promising investment opportunity.
Holiverse: The Emerging Gem in Virtual Real Estate
Holiverse is a fresh perspective on virtual property ownership. This metaverse is in its early stages of development, so its potential is just beginning to unfold.
Holiverse, led by its CEO Lado Okhotnikov, highlights freedom to follow your passion and emphasizes creative expression over speculation. Though it stands apart from other commercialized platforms, this ecosystem doesn’t underestimate the importance of the metaverse economy that is fueled by its native token Holichain.
The in-house team works much to craft unique environments, leveraging the platform’s evolving tools. Since the metaverse is in its early phase, budget-friendly options are offered for virtual property buyers. While it may not yet rival established metaverses, it can be your chance to shape a growing digital community. If you are seeking a possibility to profit from the metaverse’s explosive growth, Holiverse can be the answer.
The bottom line
The virtual real estate market is no longer a narrow niche for crypto enthusiasts. Even non-tech users recognize the potential of this booming frontier destined to grow. This is where technology, creativity, and investments converge, offering endless opportunities. Platforms like The Sandbox, Decentraland, Somnium Space and Holiverse cater to diverse preferences. If you’re ready to venture into a new digital frontier as a creator, investor, or simply curious explorer, there’s a virtual neighborhood ready to welcome you.
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