How is Metaverse Land Worth Anything?? (& Why People Are Paying Millions For It)
By: Goutaman Ramachandran
Tags: Virtual Land, Digital Land, Nft, Metaverse

Disclaimer: Not financial advice, it’s an opinion piece — use this info at your own risk.

Your brain is probably melting on the inside from the sheer absurdity of the whole thing.

But I’m afraid I’ll need you to scoop your brain soup back into your noggin — and be sure to keep it there. You’re going to need it.

Forbes is calling it a multitrillion dollar opportunity.

Metaverse Land Sales topped $100m in a single week.

And your favourite celebrities are locking in their own shares of the pies.

So what the hell could possibly be going in these people’s minds? Metaverse property isn’t exactly ‘real’ in any sense. Is it actually going to hold the value long term? And

Contents Overview

1.0 Scarcity

2.0 Utility & Real-use Cases

3.0 Sufficient Capital Flow

4.0 Ending Words

And yes, investing in virtual land can feel a little bit like gambling, especially when you’re getting into uncharted territory.

Some are even calling it an illusion with buggy software, empty servers, and huge opportunities for abuse.

But if you’ve read any of my previous pieces…

You know that the that’s just part & parcel of the ‘early adopter’ game.

The earlier you get into anything that’s going to change the very way we live our lives…

The bigger the rewards, the bigger the risks.

And the ones who stay chill amidst the ambiguity & uncertainty — who reap the rewards.

1.0 Scarcity

First and foremost — let’s look into the very fundamentals of what constitutes value in our economy.

Scarcity.

Simpler & relatable examples would be collectibles like cards, toys, clothes, all the way to fine art & celebrity-autographed memorabilia.

More realistic examples is IRL (in-real-life) real estate. Actual, physical buildings. There’s only so many in existence — so there is in-built scarcity.

Unlike paper money, you can’t print more of it whenever sh*t hits the fan… oh wait, we aren’t going there? Okay…

Then comes the all-famous question — how is there scarcity in VIRTUAL, DIGITAL land?

Can’t someone just create another one?

That’s where the blockchain technology comes in.

But if you’re reading this, there’s a high likelihood you ALREADY know that. Don’t you?

And seriously, do you think the paper in your wallet you call money is really any different? Okay fine… I promise that’s the last time.

Note: The simple version of the blockchain technology is basically makes it possible for businesses to built real scarcity into it.

Here’s the thing.

You can go around all day going into the rabbit hole of how the technology makes this possible — but everyone else is going to be busy getting their bag💰.

Because you’re too busy being afraid. Amateur hour much?

Good businesses know how to do it right. That’s why amidst the 100s & potentially thousands of metaverse companies out there. There’s only 2 with billion dollar market caps — Decentraland & Sandbox.

Other than that, here are 2 more points why the value in virtual land is very unlikely going to ‘crash’.

2.0 Utility & Real-use Cases

Here are some of the technicals of what enables virtual land utility & real-use cases are the following (I might be getting some of the terms wrong, but it gives you an idea):

Tokenization

DAO Governance

Marketplaces

Secure encryption

Private networks

Play to earn/Play to collect

And these are the use-cases from which the technology enables:

a) Gaming!

This is the most immediate use, considering the super similarities between the metaverse and MMORPG games we already have.

b) Communities

Fashion, business, interests, etc.

Just think about this, how many Facebook groups, Whatsapp group chats, Telegram group chats, & email lists are you a part of?

Now imagine all of those being completely revolutionized & upended by the metaverse.

c) Finance

Imagine using virtual land as collateral against real-life property loans!

d) Virtual Spaces

For virtual training, offices, events, trade shows, and conferences.

e) Online Experiences

Augmented Reality(AR) and Virtual Reality(VR) tourism, concerts, theme parks etc.

F) Social Media platforms

Imagine FB, snapchat & Instagram but in real life? How would it look like? Don’t imagine! It’s already happening. Facebook just literally rebranded themselves as Meta.

Honestly, how I’m putting it is a very extreme simplification and REALLY does not do justice to the sheer, & vast possibilites of what the metaverse allows.

But at least- now you won’t be asking newbie & rookie questions to your friends & actually start getting a piece of the action yourself.

3.0 Sufficient Capital Flow

It’s a fancy term for saying- there’s money in this boy-o.

Source: Investopedia.com

A LOT of money.

And where there’s money, there’s people who are willing to BUY what you have, and you’re going be able to SELL what you have.

Then there’s the growth. The growth in the money coming in is growing at an unprecedented, never seen before rate than anything else we’ve seen.

(There was a statistic that talked about how web3 adoption is faster than the internet with web1 & web2, and that alone should give you an idea)

4.0 Ending Words

Basically, this whole metaverse thing is big. Real big.

And it’s getting pretty big, really fast.

So anytime now is a great time to hop into web3.

What a time to be alive.

By the way, I am an NFT copywriter & content marketing strategist, I created a landing page http://www.sell-more-nfts.com/, I have yet to make one that’s more inclusive with the metaverse but at least you know what I’ve got.

HMU for all things content strategy, distribution & writing.

Specific copy jobs like websites, social media, whitepapers, blog posts, announcements, backstories, I got you too.

Send me a DM on Twitter https://twitter.com/sn4ckmonst4