The internet is ready to evolve into the next stage: becoming the metaverse. It is gearing to go beyond a mere medium to a digital metropolis. Investors are betting on the future of virtual real estate, making millions of dollars in investments in the process.
Virtual real estate is property that exists only within the boundaries of a virtual world. It differs from physical property by being intangible, non-material, and non-physical. Land in the metaverse, which could be considered a “virtual real estate” has actually received the interest of Snoop Dogg and many more celebrities and businesses.
What is Virtual Real Estate in the Metaverse?
A virtual world is an imaginary place created through software, where everything from people to cars, and even animals, exist. As such, virtual real estate simply means ownership of real estate in the virtual world.
SuperWorld is one of many virtual worlds that have been created, and it is a world in which you can purchase land for virtual reality homes or businesses. Every plot of land in SuperWorld is a plot of actual land in the real world, and they can be bought and sold just like physical real estate.
Virtual real estate is a new way of thinking about property ownership. In a traditional sense, you own an apartment or house. In SuperWorld, you are the owner of a piece of digital real estate that you can use as you see fit.
What is the SuperWorld App?
A virtual world in augmented reality, SuperWorld, exists as a digital extension of the physical world. Just like physical real estate, virtual property is a non-fungible token (NFT), which allows people to purchase and sell land and earn rewards from activities on their plots. SuperWorld’s founders intend to bring AR technology to the masses, allowing players to own property, run for political office, and compete in sports leagues, just like we do in the physical world.
SuperWorld is a marketplace for property ownership, which makes every land parcel in it a potential investment opportunity. Every plot of land in SuperWorld corresponds to a specific real-world property. Property owners can do everything they want with their investment–make them as virtual homes, exhibit galleries, host events, open business, rent them out, and even sell them.
To create a truly believable virtual world, you must begin with a digital map of the real world–and this is exactly what sets SuperWorld stand out from other virtual real estate markets.
If you ever needed a virtual experience that was all around you, then SuperWorld could be exactly what you want. It’s a virtual world, but its real-world mapping is augmented with the real-world around you.
SuperWorld NFT Marketplace
Aside from being a virtual real estate platform, SuperWorld also has an NFT marketplace called NFT Salon where NFT art is sold.
The platform offers a place for creatives to monetize their digital creations by selling virtual tokens. It allows artists to display and sell their artworks (such as videos, music, photos, cryptocollectibles, and digital art) on a blockchain-powered platform.
Should You Invest in SuperWorld?
Virtual real estate may seem like a strange investment to some people. After all, it’s just a plot of land in a virtual world. However, it’s very similar to real estate in many ways.
In the real estate realm, like in the real world, virtual property is a limited commodity. Do you want to buy the Eiffel Tower in Paris? There’s only one of that even in SuperWorld. Being a virtual estate owner means that you have a piece of property in the Metaverse that is unique. When you purchase a virtual property, you can do whatever you want with it–including revenue-generating activities such as building things on it, renting it out, or charging people for access to it (think concerts, exhibits, or trade shows).
Each property in SuperWorld can only be owned by one person/entity. They are all tied to a non-fungible token (NFT). You can think of NFTs like digital deeds in the 21st-century. When you acquire an NFT, it secures your claim to a digital asset, and it enables you to transfer ownership of that asset to someone else.
The transaction doesn’t involve any paper; it just involves the transfer of the digital asset itself. Since the digital assets are unique, there is no way that the digital asset could be duplicated. And the NFT will track all the relevant transaction data for the asset automatically.
Virtual property investing is similar to playing Monopoly. Ideally, you’d like to have the greatest quantity of property possible. The location of a given parcel will influence its worth. Properties that are closer to the homes of popular celebrities or landmarks will typically be more expensive over time.
The possibilities you can create within the Metaverse and the speed in which you can move from idea to idea (where you can make mansions, skyscrapers, or shopping malls within minutes) make the virtual land more valuable than the actual one. Also, since transactions are simple and fast, the value of digital property skyrockets.
Just like any other virtual real estate platforms, SuperWorld also lets people buy and sell properties there. But SuperWorld is different from traditional virtual worlds. SuperWorld is represented as a non-fungible token (NFT) which has a corresponding real-world property, so it is so much easier to connect it to the world around us. Activity on the lands generates revenue for owners so it has a lot of income projection in the future.
The Metaverse is a very appealing industry to invest in because it is free from institutions and authorities that regulate and complicate real estate investing (i.e., banks and governments). Thus, users are in control of the value of the virtual assets they possess.
However, to invest in the Metaverse is to invest in a field that is relatively new. There are high risks associated with such ventures, but there is also potentially a lot of money to be made from it. You must therefore conduct an extensive amount of due diligence before going forward with your plans.