• Virtual New York was sold out, but what was left then?

  • We have good news and bad news. The virtual New York you’ve been waiting for is finally here, but it’s sold out. Some of the most expensive virtual real estate on Next Earth, the NFT-based replica of our planet, is a digital replica in New York. Some lucky meta-ancient New Yorkers already own places like Central Park.

    That being said, Virtual Earth is huge. With any area of the planet open for sale, NFT collectors have a strong opportunity to buy their own piece of the virtual planet.

    How much is digital land really worth?

    Each metaverse has its own NFT economy. One of the Next Earths has sold over $1.7 million in virtual real estate. That number includes not only the likes of Central Park and the MetLife Building, but virtual land around the world.

    The value of digital land comes from three things: scarcity, location, and demand. The scarcer the land, the more valuable it is. But if you can afford a virtual New York City, then congratulations! You are part of the virtual world. You are one of the richest people in the virtual world.

    Scarcity is naturally related to location. That is, even if you buy a piece of virtual land in the middle of nowhere, you’ll soon be able to create pixel-based land art, resources, etc. on it, which means any piece of land can be useful and valuable.

    But real estate isn’t just about location and scarcity. It’s also about how much people are willing to pay for it. In the case of digital New York City, this is an important distinction. Do people want something small (like a house or apartment) or do they want a part of the city itself (like Central Park or Times Square)? This will affect how much you pay for your piece of virtual land.

    Virtual land outside of New York

    While New York is one of the most famous parts of the virtual world, it’s not the only piece of virtual real estate that people are buying.

    There are other parts of New York, like Appalachia and upstate New York, or you can buy places in Paris and San Francisco. The metaspace is defined in large part by its NFT-based digital real estate. As with any real estate market, location matters. Let’s dive into some other locations.

    Virtual Washington is an area that stretches from Washington Square to the U.S. Capitol to the White House. It’s a huge piece of virtual real estate with its own unique landmarks and buildings. People pay a huge price for this, as the underlying NFTs represent some of the most iconic buildings in Washington, DC.

    Virtual Paris appeals to digital sightseers because it has famous landmarks like the Eiffel Tower or Notre Dame de Paris. NFTs of these virtual buildings may one day be re-sold at jaw-dropping prices. Likewise, there are beautiful castles being purchased – presumably by collectors of NFTs who want a piece of this digital world.

    Meanwhile, the famous Arc de Triomphe in Paris was initially bought for $100 and then re-sold on the NFT marketplace for an incredible $3,400 – the very day the marketplace was launched!” .

    Most Expensive Country

    These are just a few examples; each geographic area has its own virtual real estate market where you can purchase land with an NFT attached. some of Next Earth’s most valuable virtual land is in Vatican City, Monaco, and Macau.

    The Vatican is purchased by patriarchal collectors for its beauty and rarity, including major Vatican real estate such as St. Peter’s Square and the Apostolic Palace. These areas are home to some of the most famous Catholic landmarks, including St. Peter’s Basilica and the Sistine Chapel. People are paying handsomely for the virtual spectacle of this historic place. As of press time, tiles in Vatican City are selling for over $42 a piece, representing a 42,000% increase!

    When you think of luxury, you probably think of Monaco. From the views of the ocean to the yachts cruising around, this small city-state has been very successful in marketing itself as a place where the super rich can go to make their dreams come true. Real estate prices for these virtual places are high because they are so rare – Monaco is only so big.

    Macau is another metropolis with its own digital real estate market, which ranges from casinos to waterfront to the historic center of Macau and beyond. Ultimately, Next Earth offers many opportunities for cryptocurrency enthusiasts to invest in a variety of environments that you can’t easily access (let alone own) in the physical world.

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