{"id":59221,"date":"2022-03-16T21:01:16","date_gmt":"2022-03-16T13:01:16","guid":{"rendered":"https:\/\/www.hongkiat.com\/blog\/?p=59221"},"modified":"2022-03-18T16:20:21","modified_gmt":"2022-03-18T08:20:21","slug":"metaverse-virtual-land-explained","status":"publish","type":"post","link":"https:\/\/www.hongkiat.com\/blog\/metaverse-virtual-land-explained\/","title":{"rendered":"What is Virtual Land in Metaverse &#8211; Explain Like I&#8217;m Five"},"content":{"rendered":"<p>Virtual real estate is a booming industry. It\u2019s one of the few industries that has continued to grow amid a recession. And with good reason: people are realizing that owning virtual property is a great investment.<\/p>\n<p>It\u2019s easy to get into as well. All you need is money and a lot of it. Several thousands of dollars at a minimum. But hey, you can sell your virtual property whenever you want, for whatever price you want. No restrictions on selling your virtual land or properties like there are with traditional real estate.<\/p>\n<figure><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.hongkiat.com\/uploads\/metaverse-virtual-land-explained\/virtual-lands-1.jpg\" width=\"2065\" height=\"1697\" alt=\"Virtual Lands Explained\"><\/figure>\n<p>Virtual real estate is a fast-paced environment, if you want to keep up, you\u2019ll have to crank up your gears. Start acquiring valuable properties that will have potential huge returns in the future.<\/p>\n<p>So, what are virtual lands? What is their purpose? And why do investors pay millions of dollars just to own one? Let us dive deep into this matter and understand the underlying reason to see what the hype is all about!<\/p>\n<div class=\"ref-block ref-block--post\" id=\"ref-post-1\">\n\t\t\t\t\t<a href=\"https:\/\/www.hongkiat.com\/blog\/metaverse-explanation-examples\/\" class=\"ref-block__link\" title=\"Read More: A Look Into The Metaverse \u2013 Explanation and Examples\" rel=\"bookmark\"><span class=\"screen-reader-text\">A Look Into The Metaverse \u2013 Explanation and Examples<\/span><\/a>\n<div class=\"ref-block__thumbnail img-thumb img-thumb--jumbo\" data-img='{ \"src\" : \"https:\/\/assets.hongkiat.com\/uploads\/thumbs\/250x160\/metaverse-explanation-examples.jpg\" }'>\n\t\t\t\t\t\t\t<noscript>\n<style>.no-js #ref-block-post-57906 .ref-block__thumbnail { background-image: url(\"https:\/\/assets.hongkiat.com\/uploads\/thumbs\/250x160\/metaverse-explanation-examples.jpg\"); }<\/style>\n<\/noscript>\n\t\t\t\t\t\t<\/div>\n<div class=\"ref-block__summary\">\n<h4 class=\"ref-title\">A Look Into The Metaverse \u2013 Explanation and Examples<\/h4>\n<p class=\"ref-description\">\n\t\t\t\t\t\tThe word \"Metaverse\" was coined in 1992 by Neal Stephenson, a science fiction writer of the novel Snow...\t\t\t\t\t\t<span>Read more<\/span><\/p>\n<\/div>\n<\/div>\n<h2>What are Virtual Lands?<\/h2>\n<figure><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.hongkiat.com\/uploads\/metaverse-virtual-land-explained\/virtual-lands-2.jpg\" width=\"2065\" height=\"1697\" alt=\"Virtual Lands Explained\"><\/figure>\n<p><strong>Virtual lands<\/strong> are digital spaces or land plots that you can buy, sell, build upon, and explore in a virtual world. Many platforms and blockchain games like <a href=\"https:\/\/axieinfinity.com\/\" rel=\"nofollow\">Axie Infinity<\/a>, <a href=\"https:\/\/decentraland.org\/\">Decentraland<\/a>, and <a href=\"https:\/\/www.sandbox.game\/en\/\" rel=\"nofollow\">The SandBox<\/a> sold their limited virtual lands to huge companies and other investors.<\/p>\n<p>Investors are getting crazy over it because they believe that companies and other giant organizations will operate virtually in the future. And they hope to flip the virtual lands that they own for a considerable sum of money.<\/p>\n<p>Companies would hire <strong>architects <\/strong>to design a building of some sort and then hire a <strong>3D game developer <\/strong>to build it for them. It can be anything they desire, a <strong>virtual mall<\/strong>, <strong>amusement park<\/strong>, or even a <strong>stadium<\/strong>.<\/p>\n<p>The possibilities would be endless, and unlike real-life structures, they can create any designs they could think of without the hindrance of the laws of physics.<\/p>\n<p>Virtual lands could also integrate our existing <strong>VR <\/strong>(Virtual Reality) and <strong>AR <\/strong>(Augmented Reality) technology to allow a more immersive and realistic experience for their users. This could bring a new type of entertainment that we once thought only possible in movies.<\/p>\n<h2>Top 5 Virtual Land Economies<\/h2>\n<p>Dozens of platforms and games offering their very own virtual lands for sale have appeared one after another. And there\u2019s no doubt that most of these platforms are simply riding the hype behind virtual land NFTs.<\/p>\n<p>But there are also a few promising projects that focus on bringing results and value to their community, and some famous individuals and companies even invested in them. Below are the top five virtual land economies that are worth checking out!<\/p>\n<h3>1. <a href=\"https:\/\/decentraland.org\/\">Decentraland<\/a><\/h3>\n<figure><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.hongkiat.com\/uploads\/metaverse-virtual-land-explained\/Decentraland.jpg\" width=\"2065\" height=\"1697\" alt=\"What are Virtual Lands - Decentraland\"><\/figure>\n<p><strong>Decentraland<\/strong> is a platform that supports Land NFTs referred to as <strong>Land tokens<\/strong>. Players can own lands that they can use to create a gaming experience, hold special events, and even rent their virtual lands. Similarly, <strong>landowners can monetize their land however they want.\u00a0<\/strong><\/p>\n<p>Like <strong>Axie Infinity<\/strong>, there\u2019s a total of <strong>90,601 <\/strong>parcels that investors can own. Also, Decentraland has a built-in engine where players can create different buildings and furniture designs even without prior knowledge about coding and programming. Decentraland\u2019s most expensive land plot ever sold was a whopping <strong>$2.4 million<\/strong>.<\/p>\n<div class=\"ref-block ref-block--post\" id=\"ref-post-2\">\n\t\t\t\t\t<a href=\"https:\/\/www.hongkiat.com\/blog\/decentraland-mana-mining-pc\/\" class=\"ref-block__link\" title=\"Read More: How to Mine Decentraland (MANA)\" rel=\"bookmark\"><span class=\"screen-reader-text\">How to Mine Decentraland (MANA)<\/span><\/a>\n<div class=\"ref-block__thumbnail img-thumb img-thumb--jumbo\" data-img='{ \"src\" : \"https:\/\/assets.hongkiat.com\/uploads\/thumbs\/250x160\/decentraland-mana-mining-pc.jpg\" }'>\n\t\t\t\t\t\t\t<noscript>\n<style>.no-js #ref-block-post-58757 .ref-block__thumbnail { background-image: url(\"https:\/\/assets.hongkiat.com\/uploads\/thumbs\/250x160\/decentraland-mana-mining-pc.jpg\"); }<\/style>\n<\/noscript>\n\t\t\t\t\t\t<\/div>\n<div class=\"ref-block__summary\">\n<h4 class=\"ref-title\">How to Mine Decentraland (MANA)<\/h4>\n<p class=\"ref-description\">\n\t\t\t\t\t\tBefore mining Decentraland MANA, you should first conduct some research on your own to see if it's feasible....\t\t\t\t\t\t<span>Read more<\/span><\/p>\n<\/div>\n<\/div>\n<h3>2. <a href=\"https:\/\/www.sandbox.game\/en\/\" rel=\"nofollow\">The Sandbox<\/a><\/h3>\n<figure><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.hongkiat.com\/uploads\/metaverse-virtual-land-explained\/TheSandbox.jpg\" width=\"2065\" height=\"1697\" alt=\"What are Virtual Lands - The Sandbox\"><\/figure>\n<p><strong>The Sandbox<\/strong> is also divided into several land plots of which players and investors can own and monetize. The Sandbox is made up of <strong>166,464<\/strong> lands in total, and landowners can purchase multiple land plots to form a <strong>state <\/strong>and <strong>districts<\/strong>.<\/p>\n<p>Several corporations and companies like <strong>Safari<\/strong>, <strong>OpenSea<\/strong>, and the most recent one, <strong>Gucci<\/strong>, have invested in several land plots to establish themselves in this metaverse.<\/p>\n<p>According to <a href=\"https:\/\/www.wsj.com\/articles\/metaverse-real-estate-piles-up-record-sales-in-sandbox-and-other-virtual-realms-11638268380\">The Wall Street Journal<\/a>, the <strong>Sandbox game made a record-breaking sale<\/strong> when <strong>Republic Realm<\/strong> purchased a land plot for a jaw-dropping <strong>$4.3 million<\/strong>, making it the most expensive metaverse land plot ever to sell!<\/p>\n<h3>3. <a href=\"https:\/\/axieinfinity.com\/\" rel=\"nofollow\">Axie Infinity<\/a><\/h3>\n<figure><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.hongkiat.com\/uploads\/metaverse-virtual-land-explained\/AxieInfinity.jpg\" width=\"2065\" height=\"1697\" alt=\"What are Virtual Lands - Axie Infinity\"><\/figure>\n<p>Even though<strong> Axie Infinity\u2019s land economy<\/strong> would pale in comparison with others on this list, It certainly deserves to be in the top 5 as it popularized the concept of <strong>play-to-earn mechanics<\/strong> and all that jazz about the blockchain metaverse. Axie Infinity\u2019s land plots are called <strong>Terra<\/strong>, and there is a total limited supply of <strong>90,601 <\/strong>parcels available.\u00a0<\/p>\n<p>I\u2019ll spare you the boring details, but these <strong>lands are upgradable and are classified into seven rarity levels<\/strong>. This scarcity is what makes it valuable, and it was even <a href=\"https:\/\/cryptopotato.com\/axie-infinity-plot-of-land-sells-for-2-3-million-worth-of-eth\/#:~:text=Someone%20paid%20%242.3%20million%20in,single%20plot%20of%20digital%20land.\">reported <\/a>that a single <strong>Genesis <\/strong>land plot, considered an extremely rare type of land with only <strong>220 <\/strong>of them in existence, was sold for an insane amount of <strong>$2.3 million<\/strong>.\u00a0<\/p>\n<div class=\"ref-block ref-block--post\" id=\"ref-post-3\">\n\t\t\t\t\t<a href=\"https:\/\/www.hongkiat.com\/blog\/axie-infinity\/\" class=\"ref-block__link\" title=\"Read More: What is Axie Infinity - ELI5\" rel=\"bookmark\"><span class=\"screen-reader-text\">What is Axie Infinity - ELI5<\/span><\/a>\n<div class=\"ref-block__thumbnail img-thumb img-thumb--jumbo\" data-img='{ \"src\" : \"https:\/\/assets.hongkiat.com\/uploads\/thumbs\/250x160\/axie-infinity.jpg\" }'>\n\t\t\t\t\t\t\t<noscript>\n<style>.no-js #ref-block-post-56719 .ref-block__thumbnail { background-image: url(\"https:\/\/assets.hongkiat.com\/uploads\/thumbs\/250x160\/axie-infinity.jpg\"); }<\/style>\n<\/noscript>\n\t\t\t\t\t\t<\/div>\n<div class=\"ref-block__summary\">\n<h4 class=\"ref-title\">What is Axie Infinity - ELI5<\/h4>\n<p class=\"ref-description\">\n\t\t\t\t\t\tAxie Infinity is a play-to-earn NFT game developed by the Vietnamese game studio Sky Mavis. It has taken...\t\t\t\t\t\t<span>Read more<\/span><\/p>\n<\/div>\n<\/div>\n<h3>4. <a href=\"https:\/\/aavegotchi.com\/\">Aavegotchi<\/a><\/h3>\n<figure><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.hongkiat.com\/uploads\/metaverse-virtual-land-explained\/Aavegotchi.jpg\" width=\"2065\" height=\"1697\" alt=\"What are Virtual Lands - Aavegotchi\"><\/figure>\n<p><strong>Aavegotchi <\/strong>is an <strong>NFT game built on Ethereum blockchain<\/strong> where players can purchase and grow ghost-like avatars called <strong>Aavegotchis<\/strong>. Players can use them to explore and interact with their metaverse, referred to as <strong>Gotchiverse, <\/strong>which is divided into a total limited supply of <strong>16,000 land parcels<\/strong> called <strong>Realms<\/strong>.<\/p>\n<p>Similar to <a href=\"https:\/\/www.cryptokitties.co\/\">CryptoKitties<\/a>, Aavegotchis are rare NFTs that have unique qualities like body color and personality. <strong>Aavegotchis works like a piggybank<\/strong>, representing your <strong>staked assets<\/strong> inside this metaverse. And just like a piggy bank, you can also liquidate your investment.<\/p>\n<p>In laymen\u2019s terms, you can claim or withdraw your crypto asset as a <strong>GHST <\/strong>token in exchange for your <strong>Gotchi<\/strong>.<\/p>\n<div class=\"ref-block ref-block--post\" id=\"ref-post-4\">\n\t\t\t\t\t<a href=\"https:\/\/www.hongkiat.com\/blog\/play-to-earn-nft-games\/\" class=\"ref-block__link\" title=\"Read More: 15 Play-to-Earn NFT Games (Updated)\" rel=\"bookmark\"><span class=\"screen-reader-text\">15 Play-to-Earn NFT Games (Updated)<\/span><\/a>\n<div class=\"ref-block__thumbnail img-thumb img-thumb--jumbo\" data-img='{ \"src\" : \"https:\/\/assets.hongkiat.com\/uploads\/thumbs\/250x160\/play-to-earn-nft-games.jpg\" }'>\n\t\t\t\t\t\t\t<noscript>\n<style>.no-js #ref-block-post-57283 .ref-block__thumbnail { background-image: url(\"https:\/\/assets.hongkiat.com\/uploads\/thumbs\/250x160\/play-to-earn-nft-games.jpg\"); }<\/style>\n<\/noscript>\n\t\t\t\t\t\t<\/div>\n<div class=\"ref-block__summary\">\n<h4 class=\"ref-title\">15 Play-to-Earn NFT Games (Updated)<\/h4>\n<p class=\"ref-description\">\n\t\t\t\t\t\tDo you want to earn while playing games? Non-Fungible Token games are games that let you earn cryptocurrencies,...\t\t\t\t\t\t<span>Read more<\/span><\/p>\n<\/div>\n<\/div>\n<h3>5. <a href=\"https:\/\/bit.country\/\">Bit.Country<\/a><\/h3>\n<figure><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.hongkiat.com\/uploads\/metaverse-virtual-land-explained\/Bitcountry.jpg\" width=\"2065\" height=\"1697\" alt=\"What are Virtual Lands - Bit Country\"><\/figure>\n<p><strong>Bit.Country<\/strong> is a metaverse platform that enables people to <strong>build their community and gameplay experience<\/strong>. And I\u2019m not just talking about visual designs and buildings, Bit.Country also allows its users to create and incorporate <strong>their in-game currency<\/strong> to incentivize its players.<\/p>\n<p>Aside from their 3D gaming platform, <strong>Bit.Country also has its 2D social media,<\/strong> much like Facebook, Twitter, or Instagram. Players can also <strong>collect unique NFTs<\/strong> that they can trade on Bit. Country\u2019s in-game marketplace.<\/p>\n<p>Bit.Country has a limited number of <strong>100,000 land blocks<\/strong> that can be divided into <strong>100 land units<\/strong>. It might be new to the picture, but with the help of its community and other game developers that operate within their platform, we could witness a diverse and rich metaverse economy like no other.<\/p>\n<p>If you want to know more about the virtual land projects, feel free to click the links to visit their official websites!<\/p>\n<h2>Companies joining the Metaverse<\/h2>\n<figure><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.hongkiat.com\/uploads\/metaverse-virtual-land-explained\/virtual-lands-3.jpg\" width=\"2065\" height=\"1697\" alt=\"Virtual Lands Explained\"><\/figure>\n<p>One of the world\u2019s largest producers of electronic gadgets, <strong>Samsung<\/strong> made its debut in the metaverse by opening its shop in <strong>Decentraland<\/strong>. Samsung announced that they\u2019ve built a <strong>replica <\/strong>of their flagship store located in <strong>New York<\/strong> and that people can visit them through the Decentraland\u2019s platform.<\/p>\n<p>Furthermore, Nike and Adidas, two giant sneaker brands, also made a big splash on the metaverse. Both brands have made deals and created their own collectible NFTs. And just recently, <strong>The Sandbox<\/strong> disclosed that <strong>Adidas <\/strong>purchased virtual land on their platform.\u00a0<\/p>\n<p><strong>Nike <\/strong>has their virtual land as well. They\u2019ve partnered up with <strong>Roblox <\/strong>and opened their land called <strong><a href=\"https:\/\/www.roblox.com\/nikeland\">NIKELAND<\/a><\/strong>. And they are now available for Roblox players to visit, play games, and view their products.<\/p>\n<h2>The Metaverse<\/h2>\n<figure><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.hongkiat.com\/uploads\/metaverse-virtual-land-explained\/virtual-lands-4.jpg\" width=\"2065\" height=\"1697\" alt=\"Virtual Lands Explained\"><\/figure>\n<p>Have you heard of the metaverse? Pretty sure you had since that word has been buzzing around on every social media. But what is it exactly? And how does it relate to virtual lands? Well, simply put, the metaverse is a concept where virtual lands, space, and alternate virtual universes <strong>coexist <\/strong>with each other.<\/p>\n<p>The <strong>metaverse is about incorporating digital experience with our real-life experience<\/strong>. The vision behind metaverse will revolutionize how our society functions, including businesses, education systems, medical, and even the military.<\/p>\n<p>On the bright side, this will unlock <strong>unlimited opportunities<\/strong> for everyone around the world. The old problem of working in third-world countries with minimal wages could potentially be resolved as <strong>virtual lands, and virtual jobs will open up for everyone.<\/strong><\/p>\n<p>I believe that this revolutionary concept will bring balance to our current world\u2019s imbalanced disposition of financial power. It may be too early to say for sure, but the future does seem to look brighter, and I see our generation welcoming and embracing the shifts that are about to come.<\/p>\n<h2>What opportunity awaits us all?<\/h2>\n<figure><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.hongkiat.com\/uploads\/metaverse-virtual-land-explained\/virtual-lands-5.jpg\" width=\"2065\" height=\"1697\" alt=\"Virtual Lands Explained\"><\/figure>\n<p>Take a moment and think of the big companies that have already invested in the metaverse and virtual lands. What do you think will come next?<\/p>\n<p>By transitioning their business on the internet, it opens up countless possibilities to create digital assets and experiences that they can monetize. Hence, opportunities will increase directly proportional to their success.\u00a0<\/p>\n<h2>To end<\/h2>\n<p>Virtual land\u2019s popularity is spreading like wildfire, and land sales currently dominate the total of NFT sales. Investors are getting crazy over it, and we\u2019ve only managed to scratch the surface of this newfound platform. I don\u2019t know about you, but I can\u2019t wait to see where it will lead our future!<\/p>","protected":false},"excerpt":{"rendered":"<p>Virtual real estate is a booming industry. It\u2019s one of the few industries that has continued to grow amid a recession. And with good reason: people are realizing that owning virtual property is a great investment. It\u2019s easy to get into as well. All you need is money and a lot of it. Several thousands&hellip;<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3398],"tags":[4613,3825,4614,4612],"topic":[],"class_list":["entry-content","is-maxi"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What is Virtual Land in Metaverse - Explain Like I&#039;m Five - Hongkiat<\/title>\n<meta name=\"description\" content=\"Virtual real estate is a booming industry. It&#039;s one of the few industries that has continued to grow amid a recession. And with good reason: people are\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hongkiat.com\/blog\/metaverse-virtual-land-explained\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is Virtual Land in Metaverse - Explain Like I&#039;m Five\" \/>\n<meta property=\"og:description\" content=\"Virtual real estate is a booming industry. It&#039;s one of the few industries that has continued to grow amid a recession. 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