Both insiders and non-metaverse people know that land ownership matters. Acquiring a parcel of land can be a traditional way to invest. What most people outside of the metaverse world don’t quite understand — or are still not convinced of — is why people want to become landowners in the metaverse, and what such virtual land ownership can actually bring them.
What is the Metaverse’s Small Plot of Land Worth?
It is important to note that not all metaverse games enjoy the same level of popularity and not every game has land for sale. I was able to see the workings of metaverse land ownership through the Alpha release of Sandbox, one of the most popular metaverse games. So I’ll take the land ownership in this game as an example.
OpenSea allows you to rank land prices from lowest price to highest. This allowed me to find that The Sandbox has the smallest land plot at $11,000 to $19,000. However, many large parcels of land connected to each other have been purchased by brands with big pockets and landowners who are more likely to spend a lot to make these plots appealing. The question here is, how can you make the most of a small, basic plot of land that you acquire as a private investor to make it attractive and worthy?
The Alpha quests by The Sandbox are a fantastic way to showcase the potential for small parcels of land and build experiences, rather than just holding onto them as investments.
It’s not just about size
We played several smaller quests in the Alpha quest. Each one took over four acres of The Sandbox’s world. I can’t help comparing the gaming experience I had with the “smaller quests” that took four plots of land — such as Club XYZ and Edge of the Abyss — to that of some “bigger quests” which consisted of 16 plots of land, such as Aldrak Garrison and Xalya Sanctuary.
Do I think the smaller quests are less enjoyable or entertaining? Not necessarily. Not necessarily. The level of enjoyment of one experience does not correlate positively with its size, but rather with the story, rich details and sound effects. One tiny plot of land can have 10 times as much impact as 16 larger ones. Potentially, yes.
What also might be overlooked is how many “floors” you can build on a plot of land. Consider the Alpha quest of Edge of the Abyss. That quest took place in a post-apocalyptic looking, deserted industrial town which was built on the edge of a very deep “abyss.” The whole architectural structure was about six to seven floors high. In order to complete the quest I used ladders and snake paths as well floating platforms. It was hard to imagine that the Edge of the Abyss was built on only four plots of land, because — thanks to the vertical structure — the actual game experience contains a much larger playable space than many other quests built on plots of comparable size.
If landowners don’t have the execution capabilities or skills to create all the assets and the game experience all by themselves, there is always the option of hiring a professional experience designer and asset creator to get the job done.
Possibility of hosting a Metaverse Event
One popular usage of metaverse is the creation of a venue such as an NFT gallery, internet cafe or dance club. You can build all of them on a small piece of land.
The iconic stages and concerts of Deadmau5 or Snoop Dogg are truly memorable for those who loved The Sandbox Alpha. I wouldn’t be surprised if those celebrity concerts helped attract fans-turned-new-players to come and experience the Alpha quests. Besides the clubbing experience and concerts, NFT galleries are already so popular it’s impossible not to bump into a couple of them when you walk around in any major decentralized metaverse game.
It is important to determine if the current games can provide the necessary infrastructure for facilitating multi-person communication in a metaverse conference room.
In The Sandbox Alpha, I didn’t see the hosting of conferences as an option yet. Other major metaverse platforms had hosted a few conferences. Although the experience seemed to be very basic, with only the speaker’s audio and a slide presentation. Although crowdcasting is possible, further improvements are needed.
What do you think about a small piece of metaverse land? Please leave your comments below.
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