Place/Date: - August 11th, 2022 at 5:13 pm UTC · 10 min read
Source: Real Estate Investment Club
Technology is moving so fast that our lives are soon going to spill over to the metaverse. We’re shifting to a world where the digital and physical realities become one. In the hybrid future, we will work, socialize, and have fun virtually, without ever having to leave our living room. No wonder, virtual real estate properties from pioneering projects are selling like hotcakes.
This guide explores the virtual real estate market through five top NFT projects and how they change the way we’ve known the industry.
NFT properties are virtual assets that are tokenized using blockchain technology. They are unique, immutable, and trustless. The ownership transfer of an NFT property is recorded on the blockchain so that it can be exchanged without relying on middlemen. Instead, the blockchain-run smart contracts act as middlemen.
The records cannot be manipulated without the knowledge of all parties involved in the transaction. Moreover, you don’t need to go through the hassles of paperwork and red tape to own an NFT property. You just need to log in to an NFT marketplace and make the payment to have them sent to your wallet.
And yes, they are productive, similar to ‘real’ real estate. Let’s say you are buying a land parcel in a metaverse, anticipating a price rise two years down the line. During the HODLing term, you can build infrastructure, create experiences, and monetize services on the plot. If that sounds like too much work, you can rent it out to brands, businesses, or content creators. While you earn a passive income as rent, they monetize the land. Win-win.
Blockchain technology and NFTs have applications that go beyond games, entertainment, and cryptocurrencies. Blockchain solutions can be used in healthcare, insurance, and real estate, to name a few. The decentralized make-up of blockchain has the potential to bring more transparency to these sectors. However, the initiatives taken on these fronts are tramped down by the hype around flimsy projects.
Real Estate Investment Club (REIC) is an emerging NFT project of independently constructed, high-quality, moving 1:1 and generative NFTs that will live on the ERC-721 blockchain. The unique vision and real-world use cases of REIC set it apart from other metaverse projects.
The elegantly designed NFTs are your avatars in MetaCity – the Real Estate Investment Club metaverse that hosts real estate and finance experts. MetaCity will offer diverse opportunities for NFT holders to monetize their assets and services to nurture a thriving metaverse economy. It will be a virtual space to share ideas, embark on new ventures, and socialize.
Real Estate Investment Club is not just another virtual real estate project. It aims to eventually integrate real-world real estate into the blockchain. The project partners with DAPG and DCB to bring this vision alive. The goal is to build a pioneering infrastructure that will tokenize and fractionalize real estate assets with smaller entry barriers. Ownership of the properties will be represented on the blockchain while a new reality is born through the metaverse.
REIC MetaHQ is the headquarters of REIC – MetaCity. You could call it the heart of the REIC metaverse. The virtual building is developed using the immersive UE5 (Unreal Engine 5) by a talented team of developers, designers, and architects.
REIC will feature metaverse meetups, educational services, consultation services, and investment opportunities. It will be a ‘metaverse as a service’ (Maas) that provides a wide range of monetization and incentive schemes for NFT holders and users. Over time, the interoperable ecosystem throughout MetaHQ will become a fully monetized ‘MetaCity’ that the community can explore and build together.
The quality of artwork reflects a project’s commitment. The recent trend among NFT metaverse projects is to overlook aspects of design once the initial investment rounds are over. The graphics and video animation on REIC are of high quality. They are designed by an accomplished graphic designer and a team of developers. The fact that some of them have exclusively worked on GTA and Red Dead Redemption reinstates the case.
— Real Estate Investment Club (@REIC_io) July 25, 2022
REIC NFT holders will be eligible for more rewards and access as the ecosystem grows and evolves.
Next on our list is Somnium Space, an emerging metaverse crypto world for immersive communication, e-commerce, entertainment, and virtual living. The project aims to introduce a community model for an open, social, and persistent VR world on the blockchain. The goal is to make the metaverse universally accessible by allowing users to buy land, build or import objects, and use avatars and scripts.
Moreover, users can monetize their contributions using metaverse tokens and NFTs. The platform is designed to be compatible with metaverse hardware and technologies. This way, the crypto metaverse progresses in line with the traditional metaverse developments. It supports devices like smartphones, desktops, and major PC VR headsets like Oculus, HTC VIVE, HP, VALVE, and all Windows Mixed Reality. The design of the platform, although not exactly refined, is aesthetically pleasing.
Somnium’s competitive advantage is its bridge to the real world using the latest technologies. It will feature Land NFTs to build new infrastructure, experiences, and use cases in the metaverse. Given the high-end functionalities of the platform, they have the potential to gain value in the coming days.
The Sandbox needs no introduction. It popularized the concept of metaverse among crypto and non-crypto users with a fun gaming platform. Although the project started as an open-world mobile game early in 2012, it is a booming virtual world today. At its core, The Sandbox is a metaverse where you can build, own, and monetize unique interactive gaming experiences.
The Sandbox largely remained to traditional gamers until 2018 when Animoca Brands acquired the game. Animoca Brands is a well-known venture capital company in the gaming and crypto space. It expanded the concept to the blockchain, garnering massive traction for the project. Thanks to Facebook’s rebranding to Meta, the price of SAND and LAND tokens on The Sandbox skyrocketed last year. The NFT properties on The Sandbox are bought by global celebrities and brands, which further stresses the project’s importance.
SAND serves as the governance token of The Sandbox. The metaverse token gives holders voting rights in matters that concern project development and execution. It facilitates transactions in the DAO. However, SAND is mostly used to purchase equipment, customize Avatars, and claim assets and land on The Sandbox. The platform has also launched staking systems, where you can earn passive income from SAND by locking it up for a fixed period of time.
A share of the transaction fees made from SAND trading goes to the staking rewards pool and The Sandbox Foundation. Why is this important? Because it reflects the project’s long-term vision and caters to the sustainable growth of the ecosystem.
Now, let’s get down to the most important aspect – NFT properties on The Sandbox. Being a builder game at its core, the Sandbox features a wide range of in-game assets like land, weapons, monsters, and digital art. While they all have relevance in the metaverse economy, LAND tokens are the most popular. You can build infrastructure and experiences on LAND and turn them into a reliable source of income.
Star Atlas is an ambitious metaverse on the Solana blockchain. It brings forth an immersive virtual solar system unlike anything seen before in the metaverse or video gaming arena. The project vision is big, which explains its popularity on social media platforms. It has a large following from the crypto and gaming communities.
Star Atlas combines a gripping play-to-earn system with a strategic crypto economy to feature a unique gaming concept. If you haven’t guessed already, the multiplayer VR gameplay is themed around deep space and planetary exploration. Your goal is to establish dominance through war, peaceful political takeovers, or guilds. Whether you are aggressive or diplomatic, the journey is going to be adventurous.
One key interesting factor of the project is that it allows you to create your own DAOs. The NFT properties on Star Atlas include ships, ship parts, weapons, crews, components, land, structures, and other resources. Factoring in the unique theme and approach of the platform, they are bound to scale growth this year.
Pax.world is one of the most celebrated metaverse projects of this year. And for the right reason, we must say. The hyper-personalized virtual world features high-end audio, video, and chat integrations. You enter the platform with life-like avatars that feature 3D facial scanning.
You can explore the heterogeneous virtual world, create your own worlds, and earn income from them in $PAXW. The platform offers a vibrant, immersive metaverse experience that takes socialization, education, and commerce to the next level. It is built using the Unity 3D game engine to be on par with traditional games in terms of quality. As a result, it has low hardware requirements. It also supports 3D NFTs, HD video, and audio broadcasting.
Pax.world aims to break the geographical and financial barriers to the metaverse. For this, it introduces tokenized land parcels where you can build NFT galleries, educational institutions, and business centers. This way, the entry barrier to essential services and investment opportunities is brought down, making the metaverse a democratic space.
In this article, we discussed the relevance of NFT properties and how top projects are set to change the real estate industry. While projects like The Sandbox and Star Atlas are focused more on the gaming aspect, Somnium Space and Pax.World focuses on the immersive experience through relevant integrations.
However, if you are looking for NFT properties with the highest growth potential this year, we recommend Real Estate Investment Club. It is the only project that comes with real-life utilities. It explores beyond the fun and entertainment elements of NFTs to introduce real estate tokenization and fractionalization. Since the collection is not out yet, you can get them early at low prices. The NFTs are expected to bring massive returns to users in the coming years as the idea takes off.
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