Whilst some are still wondering if virtual real estate is actually a thing, the early birds are already making moves and paying six-figure amounts to secure Street NFTs in the metaverse. This year alone the sale of virtual properties and residences is predicted to exceed $990 million.
According to DecentWorld, a real-world based metaverse platform, the popularity of virtual real estate is growing and the results are speaking for themselves. Just within the first 1.5 months since the platform launch, the top 15 most expensive Streets on DecentWorld have already been purchased, the total value of the Street NFTs sold on the platform make up over $19 million.
Most Popular Virtual Real Estate Locations
On the DecentWorld metaverse platform, users can find virtual copies of every street in the world and purchase them as NFTs. The total number of active streets on the DecentWorld Map currently reaches 12 million, and is not final as the project’s internal Map engineering team continues to add more. Within 1.5 months from the launch, virtual estate sales reached $19 million, with more than 2,000 virtual Streets already sold.
According to the team, the most popular locations are in the United States, with nearly 400 streets sold among the users. Second, comes France, with nearly 300. The United Kingdom is in third place amongst the most popular countries, with 121 streets purchased.
"Since the project's launch, DecentWorld has seen increased interest from different parties. The world's top famous streets such as Wall Street, Oxford Street, Broadway, and similar ones are already taken, proving that we're off to a great start. Having in mind that we did not launch our full-fledged marketing campaign yet, this is very promising,” DecentWorld team shares.
Virtual Streets are sorted into four different levels depending on the status of their real-world location. The more prominent or prestigious the street is in the physical world, the higher its ranking, and thus the more valuable it is in the DecentWorld metaverse.
What is more, the Streets soon could be combined into the Collections and staked to generate yield. DecentWorld team shares that the Collection launch is scheduled for this quarter, and will involve four different levels of Collections available for everyone to assemble, and one, unique kind, available to platform select users with top user rankings.
Quality User Experience And Easy Integrations
Differently from many competitors in the industry, the DecentWorld team is creating a real-world-based metaverse, which brings unique value to the virtual reality space through an immersive, gamified user experience.
Instead of creating an uncontrolled virtual space, which can quickly become a digital wasteland, the DecentWorld team focused on a controlled and quality-focused environment, which allows for the best user experience and easy business integrations.
“It was important to create a user-friendly experience, a space that is easy to understand, but also reflects our core value - Swiss quality. That is why we made a calculated decision to create DecentWorld basing it on a real world, using top-notch technologies, making sure we have a quality ground where others - users, companies, brands and more - could join and integrate easily. This way, we made sure that our metaverse platform does not become a digital wasteland, which is full of everything, but at the same time has nothing to offer”, the project team explains.
In the near future, the metaverse creators will introduce a multiplayer mode 3D environment, with platform and user generated real-life looking Buildings, and open them for e-commerce to reinvent the online shopping experience. This will allow companies, businesses and brands to integrate their products, open virtual shops, participate in NFT trading and be a part of a next-generation metaverse community.
"This is only the starting phase that we are currently at, but we already have more than 1,000 registered users, and the sales are increasing. Our next big step is to have a real-time rendering of a 3D environment using the Unreal Engine 5 technology, which is the next frontier for the creation of the best quality looking digital worlds. We also plan to open up the APIs for third-party integrations to make our metaverse even more business friendly. So we're moving ahead," the DecentWorld team notes.