Which Metaverse is right for you?
With many different platforms to choose from, it can be difficult to determine which to invest in. From the outside looking in it can be easy to assume all of which act in nearly the same capacity.. although this isn’t necessarily the case. With that in mind, it’s important to consider the strengths of each platform before determining which is right for you. If you’re just starting out and need to select just one platform to get your feet wet, always consider what you’re trying to build and go from there. In no particular order, let’s take a dive into today’s popular options.
1. The Sandbox
Do you like voxel art and an emphasis on play to earn gaming? If so, The Sandbox might be a good fit for you. Although The Sandbox has yet to release its public beta, this platform has surged in popularity over the course of 2021. With big names like Snoop Dog, The Walking Dead and Atari entering the Metaverse, it's momentum is hard to ignore. Given The Sandbox has already released their “game maker” software, users are already building out their vision to be deployed at launch.
2. Decentraland
Decentraland is considered by many an OG of the virtual worlds space. Originally launched in 2017, the developers of this project have been building their vision of the Metaverse for years. Decentraland’s strong suit is its social environment. Combine this with commerce, entertainment and virtual events, Decentraland does a nice job taking what know about the outside world and transforming it into a digital experience.
3. Somnium Space
Are you a believer that all of this Metaverse mumbo jumbo is a bet on the continued development of virtual reality? If so, Somnium Space might be your platform. Although mostly all of these platforms have mentioned eventually offering a virtual reality experience, Somnium is where today’s VR users hang out. Here you can enjoy virtual concerts, gaming experiences and other events using your preferred VR equipment.
4. CryptoVoxels
Like Decentraland, CryptoVoxels is quite the social hub and hosts ample opportunities for commerce. Art is a big point of emphasis in CryptoVoxels and users have enjoyed building out digital art galleries to display their NFT collections. This platform is built upon voxels, which typically makes building easier for the novice user and is also VR compatible.
Location, location, location.
Much like conventional real estate, location is a key source of value for digital properties. Properties that are located close to areas of high traffic are valued higher on average than properties on the edge of the map. No matter the Metaverse, most users want to maximize their properties exposure. Let’s go over some hot spots that generate value in each Metaverse. Please note that this is a generalization and it’s always important to consider your goals and target audience before choosing your location.
The Sandbox has an interactive map which allows users to see who occupies larger estates within the platform. If you purchase a property close to an estate which is owned by a popular business or influencer, you’ll probably realize a better ROI if you choose to sell it in the future.
Decentraland
If you’re investing in Decentraland, look for something close to a district. If you find that’s out of your budget, look for something close to a road. Districts are where most of the development is happening. Along with increased property exposure, users with parcels nearby Districts also enjoy added convenience.
Is owning a waterfront property a goal of yours? You will find that those in Somnium Space are much more affordable in comparison to those in the real world. Waterfront parcels in Somnium Space typically hold more value than other options on the map. If that’s out of reach, a roadside parcel is another safe bet.
CryptoVoxels Finding a roadside parcel in CryptoVoxels won’t be an issue, as its complex road system wraps around nearly every single property. Properties near major hubs like Origin City are typically valued higher than areas with less activity and traffic. There are many cities in CryptoVoxels and depending on your goals / build-out plans, you might find one to be more complimentary than the others.
Size matters, but your goals should too.
No matter the Metaverse, larger estates are always valued higher. These properties offer more opportunities for development as well as increased exposure. While owning a large estate can offer some clout, it’s important to considering what you’re building before going all in. Who knows, you might only need a single parcel to build out your vision.
If you’re just getting started, or looking for a competitive edge during your digital real estate search, consider hiring a professional to guide you through the process. Contact our team at info@nftpropertygroup.com or fill out our form to get started!