The trend of virtual land hype will continue.
Original title: “NFT 丨 After the “land speculation”, how will blockchain games develop? 》
Written by: Momentum 6
Translation: Li Hanbo
Today, considering the global COVID-19 restrictions at the beginning of this year, people are spending a lot of free time online. This trend also supports the advancement of intelligent algorithms and technologies in social networks.
In fact, the digital world has become more and more popular, and global investors have begun to invest funds in virtual assets, including virtual land, unique digital art works, etc. In the course of 2020, there have been many buyers in the world who have invested heavily in virtual land, and they are eager to increase their digital properties.
Thanks to the latest developments in the blockchain industry, people can now buy houses with Bitcoin or make mortgage loans on the blockchain. Therefore, more and more people are beginning to realize the benefits of blockchain technology in many industries, especially in the real estate market.
With the increasing awareness of blockchain in this industry, more and more people have begun to create virtual worlds, and some innovative projects have also entered the field. Correspondingly, projects that provide opportunities to purchase and own virtual property based on the blockchain have recently been welcomed by many people.
What is virtual land? 🌍
Virtual land represents a piece of land in a 3D virtual space, and users can do almost anything they want to do with their own land. The virtual lands provided by many virtual world projects are diversified. Of course, any design can be done on these virtual lands. For example, if a player owns a piece of virtual land in the game, he can sell or rent it just like in the real world.
With the continuous development of the virtual world and the increasing demand for virtual land, many new projects have begun to concentrate on developing their own virtual reality world. Below are some of the most popular virtual world projects in this field.
Somnium Space
Somnium Space is a cross-platform virtual reality world, which has been launched as early as 2018. It allows users to buy land, build and import objects into the platform, creating a common virtual world. In Somnium Space, players can choose from three different sizes of land: small (200 square meters), medium (600 square meters) and large (1500 square meters).
The project aims to give players an immersive experience in the virtual world by allowing players to create a functioning economy in the virtual reality world.
Decentraland
Decentraland is a virtual world where users can build, buy and sell different 3D works, socialize and play games. The strategic idea of the project is to create a virtual space where users can own. The platform provides them with an opportunity to buy virtual land and create any objects on it, including shops, cities, etc.
The sandbox
The sandbox is a community-driven virtual world where players have the opportunity to build, own and tokenize their gaming experience on the Ethereum blockchain. The platform aims to overcome the limitations of the current game market and accelerate the application of blockchain on a global scale.
In the design of The Sandbox, LAND is a digital real estate, players can obtain it and build various things on it. LAND owners can fill it with various games and assets. Each piece of LAND on the sandbox metaverse is a unique and irreplaceable token (NFT) on the Ethereum blockchain.
The value of virtual land is rising🚀
Earlier this year, the news that Decentraland sold $215,000 of land to an unknown user shocked the crypto community. Overall, Decentraland’s community has spent $1 million on the platform to purchase digital land.
Such a huge number is not surprising, because the trend of the virtual world is increasing day by day, and even the big players in the encryption industry are investing in digital land.
Source: https://nonfungible.com/
For example, earlier this September, Binance, one of the leading cryptocurrency exchanges, announced its intention to buy LAND NFTs in The Sandbox. The exchange has purchased 4,012 LAND in The Sandbox metaverse.
“Obviously, blockchain technology has great potential in the gaming industry. It provides significant improvements for gamers and developers, especially in terms of decentralization, transparency, and interoperability. Binance is working through the partnership with The Sandbox The cooperation further proves that blockchain technology can bring mainstream applications to games. We are jointly committed to a brand-new entertainment field and bring more freedom to players.”
After investing heavily in their digital estates, establishing a series of successful partnerships, and the overall development of the community, the value of The Sandbox ecosystem’s LANDS has increased.
In a recent update, Sebastien Borget, the co-founder and COO of the project, mentioned that Metaverse sold two estates for 210 ETH to 76,931 USD (28 times the original price of 1,400 USD for each estate). The figure below is a summary table of the sales value of LAND on The Sandbox metaverse in the past year.
to sum up
In general, virtual land is still scarce, but the demand is constantly growing. Virtual reality provides the right tool, and the blockchain also provides a platform for the monetization of virtual land. We believe this growth trend will continue. In addition, with the spread of the coronavirus, which has led to more changes in the form of digital communication, the VR world may be the safest interactive space.
Today, we have witnessed the vigorous development of the digital economy. Large companies and ordinary society have a clear goal and direction, and they must develop more widely in virtual reality and property applications. It is expected that through more time and a lot of research and development, the virtual reality world can help build a transparent and sustainable digital world.
Source link: mp.weixin.qq.com
