Metaverse land has the same definition as real-world land. Any corporation can reserve online space on a virtual platform.
The metaverse is like a website subpage. If a website is popular and has many users, multiple parties may want to display their information or product there.
In popular game-like 3D virtual worlds like Decentraland and Roblox, land refers to unoccupied parts that can be allocated for a brand – who pays?
Currently, the value of such land is proprietary because metaverses are not connected and the amount of online space relies on each platform.
NFTically's new metaverse, Comearth, sells 9,700 square feet of virtual land for Rs 15,500 ($200). These lands' value is determined by their developers.
The 'worth' of these lands lies in each platform's interest. Roblox and The Sandbox can help marketers build their virtual presence and engage audiences.
The value of these lands depends on the platforms' popularity, not the lands themselves. Such land can be auctioned by its owners, creating an alternative environment that sets cost.
In the future, networked metaverses are likely to act similarly to the traditional real-estate market, with some addresses considered luxury and others more inexpensive.
Yes. Any user who wants to own land in any of the internet's metaverse regions can buy land parcels and use them anyway they choose.
Platforms are now enacting their own self-regulatory regulations, which can ban users from launching storefronts in the metaverse for purposes such as weaponry.
When the web3 world comes together, users will be able to navigate between distinct metaverse spaces in the same way that they do now in physical spaces.