![]() ![]() They'll always be where you left them (except when the platform gives in to the digital wild). There are a limited number of properties, each is completely unique, and they're not going anywhere else. Metaverse real estate has many of the same characteristics of real-world real estate, including uniqueness, scarcity, and immobility. This has always been the case, and it's the cause of real-world ghost towns: once popular havens for residents and visitors that fell out of favor and got swallowed up by the environment over time, losing pretty much all value. Real estate of all kinds generally increases in value until people give up faith in the location where the property is located. I suppose this could be true, depending on how you look at real estate in general. ![]() ![]() Myth 5: Metaverse real estate is just a pyramid scheme Correction territory for stocks or not, virtual real estate doesn't seem to be hurting, and this is the kind of financial atmosphere that will trial metaverse real estate by fire. The top sales in Decentraland for the seven days ending January 29, 2022, included a lot that just nabbed its former owner $425,100 (they purchased it on for $7,720.93) run-of-the-mill lots continue to bring in at least $10,000 every single day. Myth 4: Investing in the metaverse is a surefire way to lose moneyÄespite the severe dip in the stock market taking place right now, interest in metaverse real estate is strong. ![]() That's not small potatoes for a community that existed before social media was even a thing. It was founded in 2003, and still has 200,000 active users visiting daily, with about 43,000 on average logged in at any given time. Second Life is probably the best example of an early metaverse platform that's still in operation and has active users who buy, lease, and sell metaverse real estate. Virbela has been around since 2012, an impressive feat, but there are other platforms that have lasted even longer. Myth 3: Metaverse platforms are a fad and will not last long Not to mention companies like eXp Realty, which have given workers ways to interact in business-specific metaverse platforms like Virbela for a decade now. Companies like PricewaterhouseCoopers and Prager Metis have opened metaverse branches so they can be where their corporate clients are, and there are brands breaking into the metaverse every day in order to reach customers they couldn't before. Myth 2: The metaverse is just a gaming world and has no real-world usesĪlthough it's easy to look at metaverse platforms and see nothing but a video game, the truth is that people are already using them for work and as a way to increase their income. Lesser-known platforms like CryptoVoxels also have a bonus VR mode, but it's hardly a requirement for access. While the metaverse contains platforms that do cater to this kind of tech, the most popular platforms, Decentraland and The Sandbox can be accessed using tools you already have: a desktop computer or a smartphone. Much of the imagery concerning the metaverse centers on people wearing virtual reality (VR) helmets and other specialized gear in order to access the metaverse. Myth 1: You need a virtual reality helmet to access the metaverse ![]()
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