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Crypto Journalist and Editor of guest articles in CoinPedia. I am also handling Outreach & Partnerships Manager. Contact me: [email protected]
Sep 5, 2022
It hasn’t been long since the term metaverse came to the mainstream. The industry is still in its infancy. Due to the massive potential of the immersive virtual world, tech entrepreneurs and investors are joining forces to bring it into action.
If you don’t have millions to spare, the best investment in the metaverse is NFTs. Blockchain technology enables the tokenization of metaverse virtual worlds through NFTs and cryptocurrencies. The success of projects like The Sandbox and Decentraland inspire confidence in investors and users alike. However, the price of NFTs on these projects has skyrocketed, making them inaccessible for retail investors. Projects in their early phases, on the other hand, have lower barriers to entry.
Here’s a quick look at the best NFT virtual real estate projects of 2022.
Before we dive into the project reviews, let’s clear the basics. NFT virtual real estate refers to tokenized land parcels and allied NFTs in the metaverse. While they may look like simple images, they are capable of more. You can build experiences and infrastructure using these NFTs and monetize them.
For example, musicians host virtual concerts in the metaverse. Brands host fashion shows in the metaverse. Businesses host virtual conferences in the metaverse. The opportunities are endless, but you get the drift. If that’s not your thing, you can rent it out to content creators in exchange for a passive income.
If you want to invest in real estate, invest early. The case is no different when it comes to virtual real estate. This article looks at the top metaverse real estate projects launching this year. Let’s find out how they make great investments this year.
Real Estate Investment Club (REIC) is a collection of independently constructed, high-quality, moving 1:1 and generative NFTs that serve as avatars in MetaCity — the REIC metaverse. The Ethereum-run project ranks first on our list of the best virtual real estate NFTs of 2022 for its unique value propositions and real-world use cases.
The current trend is to launch NFTs after the initial phases of investments. However, once the funds are in, most teams lose focus and end up launching poorly designed NFTs that cause investors to rethink their purchase. REIC has taken care not to make the pricey mistake.
The quality of the artwork, graphics, and video animation on REIC is top-notch. An extremely talented graphic designer and a team of developers work behind the collection. Given that some of them have exclusively worked on GTA and Red Dead Redemption, the standard is set high.
Visit Real Estate Investment Club
MetaCity is an upcoming virtual world that will host real estate and finance experts, where they can share ideas, embark on new initiatives, and meet up. It is designed to cater to anyone interested in real estate and finance. Apart from socialization and entertainment, it will also offer a diverse range of opportunities for users to monetize their assets and services. The goal is to nurture a sustainable metaverse economy where REIC NFTs play an integral role.
The central hub of REIC – MetaCity is the REIC MetaHQ designed by a skilled team of developers, designers, and architects. The virtual building will be a place for metaverse meetups, educational services, global resources, and investment opportunities, including drop-ins from industry elites and professionals.
REIC’s unique vision to eventually tokenize real-world real estate using blockchain sets it apart. While most metaverse-crypto projects limit themselves to gaming and entertainment, REIC takes it a step ahead. It is developing a first-of-its-kind infrastructure that will bring more transparency and decentralization into the real estate market.
REIC… 🛩#NFT #NFTS pic.twitter.com/7w9Ib7xEwT
Here are the utilities that come with REIC NFTs.
According to the website, more perks and privileges await REIC NFT holders. For example, they will receive digital and physical merchandise, governance rights in the community fund, and more opportunities. As the metaverse grows and evolves, more incentives will go live for REIC holders and Metacity users.
Visit Real Estate Investment Club
Bloktopia is a decentralized metaverse built and backed by Polygon, which speaks for its credibility. The project aims to provide an unparalleled VR experience to crypto users by hosting an immersive and engaging environment.
These are some of the top experiences Bloktopia has in store for users:
Along with Polygon, Bloktopia is backed by the leading game software and venture capital company Animoca Brands. With a strong team and vision, Bloktopia has the potential to become the next Decentraland or The Sandbox.
Next on our list is Star Atlas, a futuristic metaverse on Solana that introduces an immersive virtual solar system. It integrates dynamic play to earn mechanics and an ambitious crypto economy that takes blockchain gaming to the next level. The project has become a rage on the internet owing to its unique gaming concept.
The multiplayer VR gameplay is themed around deep space and planetary exploration, where you should fight for dominance. You can do this through war, peaceful political takeovers, or joining guilds. Regardless of which way you choose, it is going to be adventurous. Interestingly, you can also create your own DAOs in Star Atlas.
The metaverse assets on the platform include ships, ship parts, weapons, crews, components, land, structures, and other resources. Given the massive traction received by the project, investments in Star Atlas virtual real estate NFTs like land and structures can be highly profitable in the coming years.
Another much-awaited project in the metaverse NFT space is The Cryptoverse, a 3D virtual world built on the Unreal Engine.
The multichain virtual world empowers users to create, own and monetize experiences. The key highlight of The Cryptoverse is its LAND NFTs that exist on the Ethereum blockchain. It will use blockchains for the development of DApps and experiences, depending on the competitive advantages.
The Cryptoverse is divided into different zones that feature unique style, content, and curation. As a LAND owner, you are obliged to create experiences and content that complement the aesthetics and vision of the zone. You can monetize your NFTs through an innovative concept called sharding and compiling. It gives you more flexibility when selling, renting or curating your LAND tokens.
The immersive gaming experience in the metaverse includes live 3D action inside The Cryptoverse’s PvP Dome, a gripping battle royale-style combat system for gamers, and Win2Earn opportunities. It will also feature cross-reality experiences like AR/VR/XR/MR shopping experiences, virtual store solutions for B2C & B2B, and phygital assets.
We conclude this list with NFT Worlds, a customizable P2E gaming platform packed with metaverse experiences. It expands on the idea of Minecraft with 3D voxels, rather than reinventing the wheel. The team’s experience working within Minecraft also contributes to the decision.
The NFTs open up an array of opportunities to create unique gaming experiences, exclusive hangout spots, fun contests, and more. To get started, you need access to the NFT World, which is acquired in two ways. The first is by buying an NFT World from secondary markets like OpenSea. If that seems too pricey, you can use the platform’s rental system. It allows you to rent NFT Worlds for long-term use by paying a predefined amount of $WRLD token monthly.
We are slowly stepping into a future where we can work, socialize, and have fun without leaving our couch. While Web2 gave us a 2D peek into what that’s going to be like, the future is Web3. And it’s coming.
Blockchain technology instills more transparency and accountability to the metaverse. For example, new metaverse projects integrate cryptocurrencies to break geographical barriers. Tokenization of assets into NFTs enables immutable record of ownership. A great example is virtual real estate NFTs. Since their ownership is tracked on the blockchain, you can exchange them without going through the hassles of paperwork and red tape. Many believe that the blockchain foundation is critical for the metaverse to grow into a democratic, inclusive space.
According to a new McKinsey & Co report, the metaverse could grow to $5 trillion by 2030. It notes that “the metaverse is too big for companies to ignore”. It will bring the best of emerging technologies like blockchain, AI, AR, and VR, to create an immersive, interactive world where users can monetize their skills and passion.
As the metaverse grows, so will the value of virtual real estate. Apart from speculation, metaverse real estate NFTs will open diverse monetization streams. You can continue to make returns from your virtual real estate as you hold it in your wallet.
If you’re planning to make a virtual real estate investment in 2022, these are the best projects with a low initial barrier. They hold massive potential for growth in the coming years. Real Estate Investment Club, in particular, is promising because of its unique vision and use cases. The project’s aim to nurture transparency and decentralization in the real estate market through NFTs is worth looking forward to.
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