“Real estate speculation” in the virtual world? Where is the imagination of the meta universe?

“There are two roads in front of human beings: one outward, leading to the sea of ​​stars, and the other inward leading to virtual reality.”

—Liu Cixin

1. Metaverse’s virtual real estate: “Pig on the Vent”

Welcome to this virtual world created by code, pixels, and simulated images: here is bizarre, faulty and frustrating, and at the same time stimulating the unknown. The term metaverse originated from Neil Stephenson’s “Avalanche” in 1992. This book describes a virtual world parallel to the real world, Metaverse, where all people in real life have an Avatar.

Metaverse does not have the concept of creating a digital world. On the contrary, the whiteboard of the virtual world has long been full of graffiti on the sky and stars. This scene has long been depicted in the movie “Top Player”. When wearing VR glasses, people can pass from the riddled real world to the virtual world. The frustration and disappointment in real life make the virtual world a “utopia” in people’s hearts .

Coin World-"real estate speculation" in the virtual world?  Where is the imagination of the meta universe?

Minecraft, a sandbox game, a 3D world made up of squares. Players can explore, interact and create this exclusive virtual world. Similar games include Second Life, Facebook Horizons, Fortnite, and Animal Crossing. These games are enthusiastically sought after by contemporary people. It seems that many people need such a virtual world that is free to play and imagine. According to the “Virtual Reality Game Market Scale Forecast”, the global virtual reality game market in 2019 is worth 11.56 billion U.S. dollars, and it is expected to grow at a compound annual growth rate of 30.2% from 2020 to 2027 .

Coin World-"real estate speculation" in the virtual world?  Where is the imagination of the meta universe?

Source: grandviewresearch

Meta universe, a virtual world built on the blockchain, is a decentralized platform that allows players to enjoy ownership and autonomy. Through the immersive experience, let the virtual closer to reality. The current virtual world projects include The Sandbox, Decentraland, Somnium Space, Dream Card, Axie Infinity and Cryptovoxels. The first two developments are relatively mature. The Sandbox was launched by Pixowl in 2011. By introducing the SAND utility token, it allows users to create, build, buy and sell digital assets in the form of games. Decentraland is a virtual reality platform powered by the Ethereum blockchain. With MANA as the token, it allows users to create, experience content and applications, and monetize them.

In reality, land has long been regarded as the most important factor of production. In these meta-universe worlds that are still in the early stages of development, virtual land has also begun to be paid attention and “hyped” :

  •  In June 2021, 9 virtual lands in Axie Infinity were sold at a high price of 888.25 ETH, which is approximately US$1.5 million.
  •  On June 9, 2021, Boson announced that it would purchase virtual real estate in the Vegas city of Decentraland at a market price of approximately $704,000, and plans to build a virtual shopping mall.
  • On June 18, 2021, digital real estate developer Republic Realm purchased 259 digital plots, or 66,304 virtual square meters, for 1.295 million MANAs at a price of approximately US$913,000.

The meta-universe plot seems to have become the “pig on the wind” in Lei Jun’s mouth since 2021. Standing on the hot air of the block chain, the virtual real estate of Meta Universe has also “flyed”.

From the two markets of The sandbox and Decentraland, you can intuitively feel the popularity of virtual real estate. The number of transactions in The Sandbox is relatively flat. Since 2021, transactions have been mainly concentrated in the secondary market, and the high price opening has made the transaction volume reach its peak. Although it is now gradually returning, the transaction volume of the entire market is still higher than in previous years.

Dencentraland has a relatively high transaction volume and amount in 2018, and it is mainly sold in the primary market at this stage. In 2020, there was also a larger transaction scale. Since 2021, although the number of transactions has not been high, the amount of transactions has also risen considerably along with the increase in prices.

Coin World-"real estate speculation" in the virtual world?  Where is the imagination of the meta universe?

Source: nonfungible, coinmarketcap

Coin World-"real estate speculation" in the virtual world?  Where is the imagination of the meta universe?

Source: nonfungible, coinmarketcap

2. An expedition in Decentraland

Facing the virtual world, we have many expectations, needs and ideas. Blockchain provides the possibility of technical implementation for this. When these ideas become reality, the ecological diversity of the meta-universe becomes an inevitable trend . Using real money to buy an ethereal and ethereal land, how will Metaverse build the buildings on it, and how will virtual real estate create multi-scene interaction? With this question, I decided to explore in Decentraland.

(1) Artistic immersive experience: “feeling is reality”

In the prime location (52, 83) of the Voltaire Art District in Decentraland, there is Sotheby’s auction gallery. At the entrance of the gallery, the London commissioner “Hans Romuld” will greet you cordially.

The Walk Progress Hall is five gallery spaces built in London architectural style. When you come to a picture, the picture will be intelligently lit and display artistic paintings or play videos, and a small window that pops up will display related information such as the author. You can also click to participate in the auction. Accompanied by the quietly sounding music, it seems to be in a gallery. Sotheby’s, this ancient auction house with a history of more than 250 years, shows its ambitions in the era of digital assets.

Coin World-"real estate speculation" in the virtual world?  Where is the imagination of the meta universe?

Click on “Lobsteropolis” and you will come to a city full of cartoons and colorful colors. Various cartoon characters come and go to make the city busy. This was established by Philip Colbert, a “new pop surrealist” who loves to create art with lobster images.

In Colbert’s first all-digital art exhibition hall, you can see a variety of pop art style paintings, slot machines and blackjack games can be played in the Lobster City Casino, and DJs in the record store are playing dynamic songs. There are gas stations, cafes and skyscrapers in the city.

Lobster Paradise also launched mixed art works and musical performances, including a musical performance called “LOBSTER DE-VO” in collaboration with the legendary American rock singer Devo. NFT auction held jointly with digital art market SuperRare and distributor Simon de Pury, etc.

Coin World-"real estate speculation" in the virtual world?  Where is the imagination of the meta universe?

(2) Buy real goods in the virtual mall

A shopping area called Metajuku stands at coordinates (94, 21). It is built in the style of Harajuku, Japan, and there are already shops operating in it, such as a clothing store called Dressx. The transparent window attracts the attention, and the LED advertising screen scrolls a dazzling array of product information. You can “shopping” in the store, and click on the product in the window to jump to the corresponding website. There are many shopping malls outside the building, where you can buy cards, paintings and other NFT collections.

Coin World-"real estate speculation" in the virtual world?  Where is the imagination of the meta universe?

On March 12, 2021, a user successfully placed an order for Domino’s Pizza through the in-game kiosk. Pizza can be paid in $ETH or $MANA. This is the first real food order inside Decentraland. It is a pity that currently only the US region supports delivery. When I came to this location, there was no pizzeria that I expected. But I was full of expectations, and I couldn’t help but imagine the next time I would buy a real pizza in the virtual world.

Coin World-"real estate speculation" in the virtual world?  Where is the imagination of the meta universe?

(3) 3D game scene

Passing by (113, -5), I was pleasantly surprised to find that this is a maze game. Climb to a high place, remember the direction and route of the maze with your heart, and prepare to clear the level with confidence. But when I plunged into the green wall maze, the horizontal and vertical high walls and almost the same corner passages made me lose my direction in an instant. Finally came out from the entrance in a daze. This is the end of the game.

Coin World-"real estate speculation" in the virtual world?  Where is the imagination of the meta universe?

Came to the Moonshot Stadium football field (60, 10), walked into the stadium under the gaze of the audience, and after greeted the goalkeeper, I started to perform poor football skills. The incoordination of the left and right hands to control the keyboard and the mouse makes the football under the feet uncontrollable. When I succeeded in scoring a goal, the enthusiastic audience boiled over. You can also watch football matches here. Those who like football games should remember to pay attention to the schedule.

Coin World-"real estate speculation" in the virtual world?  Where is the imagination of the meta universe?

(4) More interactive scenes are being loaded…

The headquarters of Guosheng Blockchain is located at (-55, 142). Walk into this simple high-tech style building. The mascot of Guosheng Securities will welcome you on the first floor. Various signs are listed in the building, where you can learn The latest knowledge about blockchain, NFT, meta universe, etc. Just click on the link to jump and you can read the brokerage report. You can also follow the QR code to learn about the latest developments and the progress of Guosheng Securities. On the second floor is the roadshow hall, and the BBC’s explanation of blockchain technology is playing on the giant screen.

Coin World-"real estate speculation" in the virtual world?  Where is the imagination of the meta universe?

This is a casino called Atari Casino, a virtual casino developed by Atari in cooperation with crypto casino builder Decentral Fames. The project is based on its cryptocurrency $DG. Faced with the highly eloquent casino space and mysterious atmosphere, I was not able to participate in the exciting gambling games because of my shyness. After looking at each other with the waiter, Pepe, the frog, I could only leave in angrily.

Coin World-"real estate speculation" in the virtual world?  Where is the imagination of the meta universe?

The adventure in Decentraland came to an end, but these are just the tip of the iceberg of Decentraland, and more exciting unknown spaces are still waiting for me to explore.

At this moment, my mood is complicated. There is a strong artistic atmosphere here, and various buildings and artworks make me linger. I am amazed by all kinds of business models, from online shopping, watching videos to brokerage reporting services, and even being able to deliver food. But at the same time, the feeling of weightlessness and dizziness brought by focusing on the computer screen for a long time made me a little tired.

Many buildings have not yet been developed, various games and interactive spaces seem rough, and the sparse flow of people and the deserted world make me feel lonely. The card machine and loading make the exploration process slow. However, all kinds of unimaginable experiences are full of confidence, and I can’t help but look forward to the further development of more business models in this virtual land.

3. Nothingness, Bubbles and Class

These days, when I try to explain the concept of meta universe and virtual assets to people around me, most people refuse to accept these new things. Assigning a title to a virtual cyberspace can be worth millions. Isn’t this “the emperor’s new clothes”? The mysterious blockchain is more like selling a concept, a commodity that needs to be convinced by mind to accept it. It is difficult for most people to get rid of the “habit” of defining value in the real world, nor will they pay for something that is invisible and intangible. There is still a long way to go before the virtual world becomes a world accepted by the general public.

Virtual real estate has the “common problem ” of the encrypted market , that is, market bubbles . Speculation is indispensable behind the sudden increase in prices this year. The bubble gradually piles up, and when it bursts, it may be a mess. Ben Nolan, the founder of the virtual world Cryptovoxels, saw the future of the virtual world, but said about its price, “I expect a crypto winter in the next few months, the entire NFT boom will explode, and then all values ​​will absolutely collapse.” It is really unwise to trade NFT as an investment or a way to make money.”

Non-homogeneous token technology has given the digital world the concept of assets, but ownership and transactions also bring inherent class differences and gaps between rich and poor, and anonymity magnifies this difference. The real participation in the construction and trading of the metaverse still has high technical and financial thresholds. The “competitions” on the virtual field are all capitalists and giant companies, and most people can only “walk through horses and flowers” as tourists. The purchase and sale of the ownership of a piece of virtual land means the loss of other people’s creative rights, and such a world will ultimately not be the “most people’s world”.

Currently still in the initial stages of the universe yuan, into such a world, need to have good computer hardware and network connection, slow speed loading of and frequently dropped the “normal” will make you lose patience. In addition, the current meta universe is still deserted and lacks the breath of life. Relying on various buildings and artworks is not enough to attract players to stop. The social functions are slightly monotonous, and the interactive scenes have yet to be improved.

Coin World-"real estate speculation" in the virtual world?  Where is the imagination of the meta universe?

Fourth, the palace of digital art, the rising virtual civilization

Metaverse’s virtual real estate supports digital assets, and various digital arts can shine in this space. The 3D architectural space carefully creates a sense of atmosphere, from classic London architecture, oriental pavilions and stone lions, to retro futuristic neon lights and suspension installations, these spaces make people immersively enjoy “immersive art” and feel “surreal” Experience. This breaks the barrier between the traditional art “Yangchun Baixue” and “Xia Liba People” . Tourists can linger in the halls of these arts and feel the unique charm of various digital arts. Digital art creators have ushered in the spring of creation. Various artworks can continue to add value in exhibitions and sales, inspiring an era of “contending of a hundred schools of thought”. Digital art may be about to usher in a new era belonging to it.

“We see spaces like Decentraland as the next frontier of digital art, where artists, collectors and audiences can interact with each other from anywhere in the world and show that they are fundamentally scarce and unique but anyone can. The art of seeing.” Sotheby’s expert and sales director Michael Bouhanna (Michael Bouhanna) said.

“The economic foundation determines the superstructure”, this is the law of the development of human civilization. Today’s legal systems, business models, and organizational facilities all rely on economic foundations. When Metaverse introduced the “economic foundation”, virtual land could be used as an asset, and economic activities could take place based on these virtual lands, Metaverse took a big step towards the “re-enacted world”. This big step is not all beautiful, and various profit-seeking and comparisons have also accompanied it, but the introduction of “economic foundation” for this virtual universe is an advanced and mature transformation, accompanied by another parallel to the real world. The rising virtual civilization.

“Intellect, justice, and equality do not have enough power to rule the human beings on the earth, only interests have this power.” -John Adams

“There are two levers in the world that can drive people to action-interest and fear.”-Napoleon

When we are behind, we pursue food and clothing; when we are rich, we pursue spiritual pleasure; when our spirit is filled with real life, we need a virtual world to sustenance.

Ingeniously, the meta universe blends virtual and reality together, and more imagination and creation will gradually merge into the meta universe, making it possible to seamlessly switch between reality and virtuality. The imagination of countless ancestors of the virtual world has become a reality under the blockchain technology. Thanks to the coincidence of the times, I can witness the growth of the metaverse.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/real-estate-speculation-in-the-virtual-world-where-is-the-imagination-of-the-meta-universe/
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