While the Metaverse evolves and keeps its constant development route, new ways of investment, business, and recreation appear. Within this, many people are starting to buy virtual spaces inside the Metaverse, leading to the creation of real estate.
A New Concept of Making Money
Since this is relatively new, concepts such as buying land and selling real estate properties have been gaining a lot of notoriety thanks to the building and design of architects in charge of creating environments for the Metaverse.
Along with this, some people have taken the lead and claimed this newly formed industry, picking up the mantle of “Metaverse Real Estate Agents.” They work hard to make this business grow its demand for acquiring a place in a virtual world.
Why Is This New Business So Profitable?
As the world becomes unstoppably more digital and embraces new technologies, it is impossible not to ask what makes this so profitable or exciting. So many famous people and millionaire investors are paying vast amounts for a plot of virtual land instead of a paradisical island.
Facebook significantly influenced these skyrocketing prices since they went all-in with their Meta platform and virtual reality projects. Metaverse is taken as the new itineration of social media, its natural successor that will entirely change everything.
Recent reports by the crypto-experts estimate that these digital worlds will soon grow to $1 trillion. Major artists such as Justin Bieber, Ariana Grande, and Marshmello contributed to this growth by obtaining avatars. Others, such as Paris Hilton, DJ’ed a party on her virtual island.
Other significant investments, such as Tokens.com’s CEO Andrew Kiguel paying almost $2.5 million for a plot in Decentraland, have attracted many people. Likewise, the $4.3 million sale of a plot in Sandbox cannot go unnoticed.
Is It Risky to Invest?
Investing in these digital worlds shouldn’t be taken as a risky move but as looking into the future. It is just like acquiring real estate in the real world, only based on its location and importance. Some areas of the Metaverse are more crowded than others, which are undoubtedly the most valuable.
In addition, it’s also caused because big spenders are often located there. As a result, many advertisers and retailers find ways to get into those places looking for opportunities, and brand recognition, bringing more people into the fold.
All of that makes these platforms almost risk-free. When many people invest vast sums of money into it, it is because of something. Multinational brands will not trust a place that would make them achieve a lousy deal.
The Role of a Metaverse Real Estate Agent
This potential new way of business emerges as a new sector hugely dominated by gamers, architects, and designers. As the boom of buying Metaverse real estate grows, more people will want to be part of the art of brokering deals and cashing in with properties.
These people will be responsible for helping people to buy and sell virtual spaces and land, along with specific 3d models. They can also assist them with negotiating its price, lending a hand in choosing the right place and much other advice.
All of these world assets will be possible to be paid with cryptocurrency and refers to things that will act as something in the same room.
How Does Acquiring a Metaverse Property Work?
Real estate agents can work and use their experience to acquire properties and sell or negotiate with different clients. For example, a Metaverse agent can buy and sell land, invest in a property and turn a house into a dream home with many options.
Plenty of homes are available for purchase, each suitable for different needs and desires. But, of course, others can be ordered and designed by the client and built by a Metaverse architect.
Having enough money to do it would be the first step to acquiring it. Considering if other people can build next door or above is also essential to avoid future conflicts later down the road. The hottest places to get a place are Decentraland and Sandbox since they are the most used ones.
Interested people will also need to download a browser extension called Metamask, an online wallet to hold digital assets. Funding it with the correct cryptocurrency for each platform is the next step. Finally, everything will be ready to build or use after looking at the listings and buying the desired land.
How to Develop a Metaverse House
After acquiring the lot, it will be ready for development. Planning and zoning are essential steps for what’s next, whether a small apartment or a huge building. Non-expert agents and customers will need some guidance to achieve so, and these are the steps to do it:
Hire Metaverse Architect Designers
A big difference from the real world is that it is not a must to hire an architect to design house plans to avoid them from collapsing. Still, projects need a visual impact, and it is often recommended to hire professional designers since most people want their houses to look good and well made.
Many experts, such as the Exolve designers, are entirely focused on creating virtual 3d models for Metaverse houses. These people have vast experience in knowing how to use the necessary software and related stuff, making it look easy to build a virtual home space.
Buying an Already Built Estate
Acquiring a lot doesn’t necessarily mean it needs to be an empty one. There are a lot of already built places ready to use, or that could use a designer’s enhancement. Starting from an already built space is sometimes way easier than from scratch.
As long as the buyer has the right to change and remodel the structure, it is possible to change the entire place as desired. This method is an excellent shortcut for building but is also more expensive than an empty lot. However, depending on the location and the needed work, it is sometimes worth it.
Best Platforms to Get Your House Designed
Like in the real world, a Metaverse has endless options of buildings for someone to construct. There are two main types of categories that most people choose: scenes (architectural landscapes and structures) and wearables (digital merchandise and assets).
Depending on these two types and the expertise of the hired builder, some platforms are more suitable than others for some categories. Nevertheless, these are the most renowned platforms for each type of architecture design:
As already mentioned, Decentraland is one of the most famous and renowned platforms for acquiring a lot or place. This popularity is because many brands have been established here, such as Dolce & Gabbana, Forever 21, and Estee Lauder.
Experiencing the full potential of this platform means having a Metamask wallet full of MANA coins to build a structure, just for fun or business. Both scenes and wearables are possible there.
The scenes builder has a very easy-to-use tool that allows the creation of anything. It runs on a browser, meaning there’s no need to install anything. As for wearables, it is possible to create items of clothing, accessories, or objects represented as NFTs. Both things need a minimal experience in 3d modeling.
Based on an Ethereum blockchain-inspired by Minecraft, this Metaverse world also allows many users to buy land to design whatever they want. In addition, its “Free Space” feature allows people to avoid plotting certain land, which means everyone can construct it wherever they want.
Another tool called Voxel Builder lets you easily create and edit 3d voxels used for building and NFTs within the platform.
Known as one of the most renowned gaming Metaverse, Sandbox allows users to create every existing asset. In addition, its user-friendly interface allows the creation of many amazing things from almost anyone with the VoxEdit tool.
Every creation can be listed on the marketplace, and each asset can be converted into an NFT. It can also be exported to the market, along with many Metaverse houses.
Somnium Space has excellent potential for creators who want to build something. It is super simple and requires no coding skills. However, it is mandatory to download Steam and use the drag-and-drop editor tool to create.
What makes this Metaverse builder stand out from other renowned platforms is its easy-to-implement video and audio options, allowing to add unique experiences to almost any creation.
Becoming a Metaverse real estate agent can provide many investment benefits but needs a list of regulations and requirements to become one. Since it’s an emerging market that handles a lot of money, its popularity has taken a big boost, increasing the number of members that want to become part of it.
Owning lots, land, and buildings to rent or sell can become one of the most profitable businesses within the Metaverse. That’s why agents need to hire professional Metaverse architects and designers to create the perfect place for everybody.