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Cryptoknowmics 2022-05-12 01:30:16

Real Estate Built in the Metaverse Are Selling Off Their Assets – Why?

 Building a virtual real estate portfolio is the next big thing for investors willing to take chances on the new technology. Land with unique entities in the digital world is known as virtual real estate. You can consider this a video game with social and community features. Is there a compelling reason to invest in the metaverse virtual world? Interest in virtual reality, augmented reality, and metaverse real estate spiked after Facebook changed its name to Meta and announced intentions to invest in virtual reality. Also, purchasing a piece of virtual land may appear to be an unusual investment. However, in the end, virtual properties are similar to real properties in many ways. Why would you buy metaverse real estate? To begin with, there are a limited number of virtual properties, just as there are a limited number of real properties. As a metaverse property owner, you can build properties that generate revenue, such as buildings that can be rented out or interactive venues that promote brands. Furthermore, an immutable token (NFT) protects each piece of real estate in the metaverse, making it unique. An NFT is similar to a digital deed or proof of ownership that one can uniquely identify. The NFT for your virtual property proves ownership and allows you to sell it to someone else. All transactions involving that property are automatically recorded, so there is no need for title work. It’s essentially a digital deed for the...

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