Virtual land could actually costs more than physical land

The value of the NFT industry has pretty much exploded in recent years. This aspect of the blockchain industry that is focused on the tokenisation of real world assets into immutable assets has found relevance in the eyes of coinneseurs, gamers and afficonados from around the world. This has invariably resulted in a money spinning industry that can even rival the physical representation of these same assets.

In this day an age, artists have to ask themselves if they want to create in the physical or digital space because both could generate about the same level of value. Real estate is now getting into this territory, with the price of virtual land now gaining on physical representation.

In fact, just in the same way that there are artists focused on producing digital art instead of physical art, there are also virtual real estate companies. Even for someone as bullish as me about this space, I must say that this one took me by surprise.

In a bullish piece of news, it was reported that a virtual real estate firm invested $913k into virtual real estate on Decentraland. The virtual piece of land is an NFT and will be used to do the open-world stuff that goes on in the game.

Decentraland runs on Ethereum blockchain and it is one of the foremost NFT-based games in the world. Another game that has tapped into the virtual land space is Splinterlands .

Virtual land on hive

It is pretty amazing how fast this space can grow and the kind of money it can pull. I recall Splinterlands talked extensively about expansion plans and also sold plots of land that I managed to get a little of.

At the time of writing, there are no plots of land available in Splinterlands. The entire virtual real estate on Hive was sold out and that generated a lot of revenue for the game developers. However, the land itself will also generate revenue for the real estate investors in the future, as it is scheduled to play a big role during the expansion of the game. .

Conclusion

Ultimately, this new kind of investment looks like it is going to eclipse traditional investment in the same kind of assets. Buying and selling digital art might be more lucrative than physical art in the coming years. In the same way that buying, developing and flipping virtual real estate might become more lucrative than physical real estate.

Virtual land could actually costs more than physical land

Virtual land on hive

Conclusion

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