What are your thoughts on buying virtual land in the form of NFTs? Are you for it or against it? Is this a part of the utility of NFTs? What makes it so useful?
I’ve seen a lot of hype recently about buying land in the virtual realms. Have you guys seen it too? Is it like regular real estate where a “hotspot” costs more than an average spot?
What do you guys think? Have you done any research about it?
P.S: So many questions, I know. Asking questions is the way to spread information and I guess it makes sense to discuss this now before we start booming again (if we start booming again)
Virtual land is advertising space for big corporations.
As in you can set up a virtual billboard on plots of land?
Exactly. Imagine the money you’ll rack renting out your space to some corporation selling overpriced avatar clothes.
They didn’t catch on with Second LIfe. I don’t think they’ll catch on now.
What about the future?🤔
It’s astonishing how many ‘exciting new possibilities’ are being imagined that pretty much bombed when they were actually executed in Second Life: corporate presences, schools, government offices, casinos (regulation), churches, homes, etc.
Although I did hear Guy from Coin Bureau mention the possibilities of going to government services (e.g. DMV) via the metaverse instead.
I would use it for that but nothing else.
I also consider virtual land to be a waste of money. But in the latest video of the coinbureau on the metaverse, Guy said the following ‘Barbados is thinking about establishing an embassy on a virtual world. Pretty cool if you could go to a virtual office to renew your passport instead of a real one, isn’t it?’
That’s very true, although it baffles me that you still have to go in person to get a new passport, in 2021. But this is a good example of a nice use case. And the possibilities are limitless
Exactly! I heard museums and virtual visits are going to be a thing. Like think of a Skype call with your friends. Just invite them over to your house and show them all the cool NFTs you bought!
I’m interested. I’m just waiting for more institutional investments into one of these projects then I’m FOMOing in. I don’t care if I have to live behind a Wendy’s dumpers IRL, I can pretend I live on my virtual property.
Hell yeah🔥 Put them VR sets on and live the future.
You get hungry? No problem. Dave’s single is 5 mins away👌🏻
Were very early in the whole NFT metaverse development. For every one virtual realm that is successful there will be 30 that fail.
Keep that in mind when investing in anything, but if the buy in is low enough and you believe in the project then throwing a few dollars at something can’t hurt
Damn we’re that early into this? I wasn’t even aware!
Is there ones showing more success and potential than others or still too early to tell?
I don’t buy it for now. If I get a VR set one day, I may invest in something. For now I’m only buying ENJ and Layer 1s
That’s what my friend is doing. Is this a way of slowly easing your way into it and learning about it?
Depends on the popularity of the platform where your virtual land is. Facebook was just a virtual 2D page with pictures and text, but had real world implications i.e marketing and customer service for businesses who had a Facebook page. If it is popular enough with enough users, it may have some legit value (i.e companies putting advertisements on their land which are viewed by people in the metaverse)
Which platforms do you think are most popular? Which ones absolutely suck right now?
I know you may not have an answer, just curious 🙂
It will scale with the popularity of the associated project since land is infinitely available in Metaverse
With an infinite supply, how will a plot of land ever gain value? (Unless I misunderstood your point)
Hard to say which metaverse succeeds in the long run.
I figured. Hopefully some projects show some utility and fundamentals that we can get in on early!
Virtual land is advertising space for big corporations.
As in you can set up a virtual billboard on plots of land?
Exactly. Imagine the money you’ll rack renting out your space to some corporation selling overpriced avatar clothes.
They didn’t catch on with Second LIfe. I don’t think they’ll catch on now.
What about the future?🤔
It’s astonishing how many ‘exciting new possibilities’ are being imagined that pretty much bombed when they were actually executed in Second Life: corporate presences, schools, government offices, casinos (regulation), churches, homes, etc.
Although I did hear Guy from Coin Bureau mention the possibilities of going to government services (e.g. DMV) via the metaverse instead.
I would use it for that but nothing else.
I also consider virtual land to be a waste of money. But in the latest video of the coinbureau on the metaverse, Guy said the following ‘Barbados is thinking about establishing an embassy on a virtual world. Pretty cool if you could go to a virtual office to renew your passport instead of a real one, isn’t it?’
That’s very true, although it baffles me that you still have to go in person to get a new passport, in 2021. But this is a good example of a nice use case. And the possibilities are limitless
Exactly! I heard museums and virtual visits are going to be a thing. Like think of a Skype call with your friends. Just invite them over to your house and show them all the cool NFTs you bought!
I’m interested. I’m just waiting for more institutional investments into one of these projects then I’m FOMOing in. I don’t care if I have to live behind a Wendy’s dumpers IRL, I can pretend I live on my virtual property.
Hell yeah🔥 Put them VR sets on and live the future.
You get hungry? No problem. Dave’s single is 5 mins away👌🏻
Were very early in the whole NFT metaverse development. For every one virtual realm that is successful there will be 30 that fail.
Keep that in mind when investing in anything, but if the buy in is low enough and you believe in the project then throwing a few dollars at something can’t hurt
Damn we’re that early into this? I wasn’t even aware!
Is there ones showing more success and potential than others or still too early to tell?
I don’t buy it for now. If I get a VR set one day, I may invest in something. For now I’m only buying ENJ and Layer 1s
That’s what my friend is doing. Is this a way of slowly easing your way into it and learning about it?
Depends on the popularity of the platform where your virtual land is. Facebook was just a virtual 2D page with pictures and text, but had real world implications i.e marketing and customer service for businesses who had a Facebook page. If it is popular enough with enough users, it may have some legit value (i.e companies putting advertisements on their land which are viewed by people in the metaverse)
Which platforms do you think are most popular? Which ones absolutely suck right now?
I know you may not have an answer, just curious 🙂
It will scale with the popularity of the associated project since land is infinitely available in Metaverse
With an infinite supply, how will a plot of land ever gain value? (Unless I misunderstood your point)
Hard to say which metaverse succeeds in the long run.
I figured. Hopefully some projects show some utility and fundamentals that we can get in on early!